SOURCE: Innovative Designs, Inc.

Innovative Designs, Inc.

February 25, 2011 12:48 ET

Innovative Designs Reports on Status of Annual Report on Form 10-K

PITTSBURGH, PA--(Marketwire - February 25, 2011) - Innovative Designs Inc (OTCBB: IVDNE) issued a statement from its CEO, Mr. Joseph Riccelli, describing the status of its Annual Report on Form 10-K.

According to Mr. Riccelli, "Our Form 10-K Report to be filed with the SEC has been delayed beyond the time we had anticipated it being filed. The Company is now delinquent in its filing obligation to the SEC and to FINRA. The Company has been informed by FINRA that as a result of the delinquency an 'E' has been placed behind our trading symbol and the Company has until March 18, 2011, to come into compliance. Some of the factors which have caused the Company to be late in its filing obligation were factors which the Company had no control over. However, I am now confident that the 10-K Report will be filed shortly and the Company will once again be in compliance with both the SEC and FINRA." 

The Company

Innovative Designs, Inc. manufactures the Insultex® House Wrap, Arctic Armor® Line, hunting apparel, swimwear, wind shirts, jackets, and the multi-function "All in One" under the "i.d.i.gear" label featuring INSULTEX®. INSULTEX® is the thinnest, lightest and warmest insulator in the market today. For more information, please visit http://www.idigear.com.

Disclaimer

Certain statements in this press release constitute "forward-looking" statements as defined by federal law. Such statements are based on assumptions, but there is no assurance that actual outcomes will not be materially different as those implied. Any such statements are made in reliance on the "Safe Harbor" protections provided under the Private Securities Reform Act of 1995 and are subject to various factors, including the risks and matters discussed in the Company's SEC filings available at http://www.sec.gov

Contact Information

  • Contact:
    Joseph Riccelli
    CEO
    (P) 412-799-0350