$IVDN
INNOVATIVE DESIGNS INC Stock $ivdn

$ivdn Overview Financials Valuation SEC Filings Company Website

2013 Q3 Form 10-Q Financial Statement

#000114420413050619 Filed on September 13, 2013

Income Statement

Concept	2013 Q3	2012 Q3
Revenue	$11.12K	$7.165K
YoY Change	55.16%
Cost Of Revenue	$5.460K	$3.578K
YoY Change	52.6%
Gross Profit	$5.657K	$3.587K
YoY Change	57.71%
Gross Profit Margin	50.89%	50.06%
Selling, General & Admin	$113.5K	$83.53K
YoY Change	35.91%
% of Gross Profit	2006.84%	2328.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$0.00	$0.00
YoY Change
% of Gross Profit	0.0%	0.0%
Operating Expenses	$119.0K	$87.11K
YoY Change	36.6%
Operating Profit	-$107.9K	-$79.94K
YoY Change	34.94%
Interest Expense	$26.81K	$17.34K
YoY Change	54.62%
% of Operating Profit
Other Income/Expense, Net	$163.2K	-$17.34K
YoY Change	-1040.99%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings	$55.32K	-$97.28K
YoY Change	-156.86%
Net Earnings / Revenue	497.58%	-1357.75%
Basic Earnings Per Share	$0.00	-$0.01
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding	18.98M shares	18.84M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2013 Q3	2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$70.00K	$90.00K
YoY Change	-22.22%	350.0%
Cash & Equivalents	$69.80K	$87.91K
Short-Term Investments
Other Short-Term Assets	$130.0K	$10.00K
YoY Change	1200.0%
Inventory	$568.6K	$710.0K
Prepaid Expenses
Receivables	$6.545K	$10.00K
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$777.7K	$820.0K
YoY Change	-5.16%	-2.38%
LONG-TERM ASSETS
Property, Plant & Equipment	$19.04K	$10.00K
YoY Change	90.4%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets	$19.04K	$10.00K
YoY Change	90.4%
TOTAL ASSETS
Total Short-Term Assets	$777.7K	$820.0K
Total Long-Term Assets	$19.04K	$10.00K
Total Assets	$796.7K	$830.0K
YoY Change	-4.01%	-1.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$77.29K	$30.00K
YoY Change	157.63%	-50.0%
Accrued Expenses	$240.0K	$130.0K
YoY Change	84.62%	30.0%
Deferred Revenue
YoY Change
Short-Term Debt	$360.0K	$310.0K
YoY Change	16.13%
Long-Term Debt Due	$130.0K	$40.00K
YoY Change	225.0%	-66.67%
Total Short-Term Liabilities	$804.4K	$510.0K
YoY Change	57.73%	27.5%
LONG-TERM LIABILITIES
Long-Term Debt	$340.0K	$350.0K
YoY Change	-2.86%	-5.41%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities	$340.0K	$350.0K
YoY Change	-2.86%	-5.41%
TOTAL LIABILITIES
Total Short-Term Liabilities	$804.4K	$510.0K
Total Long-Term Liabilities	$340.0K	$350.0K
Total Liabilities	$1.142M	$860.0K
YoY Change	32.78%	13.16%
SHAREHOLDERS EQUITY
Retained Earnings	-$6.061M
YoY Change
Common Stock	$5.716M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	-$345.2K	-$20.00K
YoY Change
Total Liabilities & Shareholders Equity	$796.7K	$830.0K
YoY Change	-4.01%	-1.19%

Cashflow Statement

Concept	2013 Q3	2012 Q3
OPERATING ACTIVITIES
Net Income	$55.32K	-$97.28K
YoY Change	-156.86%
Depreciation, Depletion And Amortization	$0.00	$0.00
YoY Change
Cash From Operating Activities	-$160.0K	-$140.0K
YoY Change	14.29%	-6.67%
INVESTING ACTIVITIES
Capital Expenditures	$0.00	-$10.00K
YoY Change	-100.0%
Acquisitions
YoY Change
Other Investing Activities		$0.00
YoY Change		-100.0%
Cash From Investing Activities	$0.00	-$10.00K
YoY Change	-100.0%	-200.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	210.0K	180.0K
YoY Change	16.67%	200.0%
NET CHANGE
Cash From Operating Activities	-160.0K	-140.0K
Cash From Investing Activities	0.000	-10.00K
Cash From Financing Activities	210.0K	180.0K
Net Change In Cash	50.00K	30.00K
YoY Change	66.67%	-137.5%
FREE CASH FLOW
Cash From Operating Activities	-$160.0K	-$140.0K
Capital Expenditures	$0.00	-$10.00K
Free Cash Flow	-$160.0K	-$130.0K
YoY Change	23.08%	-13.33%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	dei	Document Type DocumentType	10-Q
	dei	Amendment Flag AmendmentFlag	false
	dei	Document Period End Date DocumentPeriodEndDate	2013-07-31
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2013
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	dei	Trading Symbol TradingSymbol	IVDN
CY2013Q3	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	19005743	shares
	dei	Entity Registrant Name EntityRegistrantName	INNOVATIVE DESIGNS INC
	dei	Entity Central Index Key EntityCentralIndexKey	0001190370
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--10-31
	dei	Entity Filer Category EntityFilerCategory	Smaller Reporting Company
CY2013Q3	us-gaap	Inventory Valuation Reserves InventoryValuationReserves	58000	USD
CY2012Q4	us-gaap	Inventory Valuation Reserves InventoryValuationReserves	65000	USD
CY2013Q3	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2012Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2013Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	100000000	shares
CY2012Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	100000000	shares
CY2013Q3	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2012Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2013Q3	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	500000000	shares
CY2012Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	500000000	shares
CY2013Q3	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	19005743	shares
CY2012Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	18935743	shares
CY2013Q3	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	19005743	shares
CY2012Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	18935743	shares
CY2013Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	69800	USD
CY2012Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	54995	USD
CY2013Q3	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	6545	USD
CY2012Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	102350	USD
CY2013Q3	us-gaap	Inventory Net InventoryNet	568620	USD
CY2012Q4	us-gaap	Inventory Net InventoryNet	623722	USD
CY2013Q3	ivdn	Deposits On Inventory DepositsOnInventory	119602	USD
CY2012Q4	ivdn	Deposits On Inventory DepositsOnInventory	44514	USD
CY2013Q3	us-gaap	Prepaid Insurance PrepaidInsurance	13114	USD
CY2012Q4	us-gaap	Prepaid Insurance PrepaidInsurance	4360	USD
CY2013Q3	us-gaap	Assets Current AssetsCurrent	777681	USD
CY2012Q4	us-gaap	Assets Current AssetsCurrent	829941	USD
CY2013Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	19040	USD
CY2012Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	20448	USD
CY2013Q3	us-gaap	Assets Assets	796721	USD
CY2012Q4	us-gaap	Assets Assets	850389	USD
CY2013Q3	us-gaap	Accounts Payable Current AccountsPayableCurrent	77288	USD
CY2012Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	64455	USD
CY2013Q3	us-gaap	Notes Payable Current NotesPayableCurrent	130331	USD
CY2013Q3	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	163186	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	-119700	USD
CY2012Q3	us-gaap	Interest Expense InterestExpense	17342	USD
	us-gaap	Interest Expense InterestExpense	71080	USD
CY2013Q3	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	11117	USD
	us-gaap	Repayments Of Notes Payable RepaymentsOfNotesPayable	113561	USD
	us-gaap	Repayments Of Notes Payable RepaymentsOfNotesPayable	114230	USD
	us-gaap	Interest Paid InterestPaid	44438	USD
	us-gaap	Interest Paid InterestPaid	29790	USD
CY2012Q4	us-gaap	Notes Payable Current NotesPayableCurrent	91298	USD
CY2013Q3	us-gaap	Interest Payable Current InterestPayableCurrent	217501	USD
CY2012Q4	us-gaap	Interest Payable Current InterestPayableCurrent	190859	USD
CY2012Q3	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-17342	USD
CY2013Q3	us-gaap	Due To Officers Or Stockholders Current DueToOfficersOrStockholdersCurrent	357500	USD
CY2012Q4	us-gaap	Due To Officers Or Stockholders Current DueToOfficersOrStockholdersCurrent	266600	USD
CY2013Q3	us-gaap	Loss Contingency Accrual At Carrying Value LossContingencyAccrualAtCarryingValue	0	USD
CY2012Q4	us-gaap	Loss Contingency Accrual At Carrying Value LossContingencyAccrualAtCarryingValue	190000	USD
CY2013Q3	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	21814	USD
CY2012Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	876	USD
CY2013Q3	us-gaap	Liabilities Current LiabilitiesCurrent	804434	USD
CY2012Q4	us-gaap	Liabilities Current LiabilitiesCurrent	804088	USD
CY2013Q3	us-gaap	Long Term Notes Payable LongTermNotesPayable	337465	USD
CY2012Q4	us-gaap	Long Term Notes Payable LongTermNotesPayable	347663	USD
CY2013Q3	us-gaap	Liabilities Liabilities	1141899	USD
CY2012Q4	us-gaap	Liabilities Liabilities	1151751	USD
CY2013Q3	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2012Q4	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2012Q4	us-gaap	Common Stock Value CommonStockValue	1896	USD
CY2013Q3	us-gaap	Common Stock Value CommonStockValue	1903	USD
CY2013Q3	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	5713638	USD
CY2012Q4	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	5688645	USD
CY2013Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-6060719	USD
CY2012Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-5991903	USD
CY2012Q4	us-gaap	Stockholders Equity StockholdersEquity	-301362	USD
CY2013Q3	us-gaap	Stockholders Equity StockholdersEquity	-345178	USD
CY2013Q3	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	796721	USD
CY2012Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	850389	USD
CY2012Q3	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	7165	USD
	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	361173	USD
	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	604407	USD
CY2013Q3	us-gaap	Cost Of Goods Sold CostOfGoodsSold	5460	USD
CY2012Q3	us-gaap	Cost Of Goods Sold CostOfGoodsSold	3578	USD
	us-gaap	Cost Of Goods Sold CostOfGoodsSold	148275	USD
	us-gaap	Cost Of Goods Sold CostOfGoodsSold	230607	USD
CY2013Q3	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	113527	USD
CY2012Q3	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	83528	USD
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	400634	USD
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	493500	USD
CY2013Q3	us-gaap	Operating Expenses OperatingExpenses	118987	USD
CY2012Q3	us-gaap	Operating Expenses OperatingExpenses	87106	USD
	us-gaap	Operating Expenses OperatingExpenses	548909	USD
	us-gaap	Operating Expenses OperatingExpenses	724107	USD
CY2013Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	-107870	USD
CY2012Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	-79941	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	-187736	USD
CY2013Q3	us-gaap	Interest Expense InterestExpense	26814	USD
	us-gaap	Interest Expense InterestExpense	53493	USD
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	118920	USD
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-53493	USD
CY2013Q3	us-gaap	Net Income Loss NetIncomeLoss	55316	USD
CY2012Q3	us-gaap	Net Income Loss NetIncomeLoss	-97283	USD
	us-gaap	Net Income Loss NetIncomeLoss	-68816	USD
	us-gaap	Net Income Loss NetIncomeLoss	-173193	USD
CY2013Q3	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	18980091	shares
CY2012Q3	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	18843352	shares
	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	18960118	shares
	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	18800871	shares
CY2013Q3	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	0.003
CY2012Q3	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.005
	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.004
	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.009
CY2013Q3	ivdn	Reversal Of Contingent Liability ReversalOfContingentLiability	190000	USD
CY2012Q3	ivdn	Reversal Of Contingent Liability ReversalOfContingentLiability	0	USD
	ivdn	Reversal Of Contingent Liability ReversalOfContingentLiability	190000	USD
	ivdn	Reversal Of Contingent Liability ReversalOfContingentLiability	0	USD
CY2011Q4	us-gaap	Stockholders Equity StockholdersEquity	112852	USD
CY2012	us-gaap	Stock Issued During Period Value Issued For Services StockIssuedDuringPeriodValueIssuedForServices	40500	USD
	us-gaap	Stock Issued During Period Value Issued For Services StockIssuedDuringPeriodValueIssuedForServices	25000	USD
CY2012	us-gaap	Net Income Loss NetIncomeLoss	-454714	USD
	us-gaap	Issuance Of Stock And Warrants For Services Or Claims IssuanceOfStockAndWarrantsForServicesOrClaims	25000	USD
	us-gaap	Issuance Of Stock And Warrants For Services Or Claims IssuanceOfStockAndWarrantsForServicesOrClaims	35500	USD
	us-gaap	Depreciation Depreciation	1408	USD
	us-gaap	Depreciation Depreciation	-325	USD
	us-gaap	Inventory Write Down InventoryWriteDown	-7000	USD
	us-gaap	Inventory Write Down InventoryWriteDown	-51439	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-95805	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-177419	USD
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-62102	USD
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-83586	USD
	ivdn	Increase Decrease In Deposits On Inventory IncreaseDecreaseInDepositsOnInventory	75088	USD
	ivdn	Increase Decrease In Deposits On Inventory IncreaseDecreaseInDepositsOnInventory	4433	USD
	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	8754	USD
	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	7469	USD
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	12833	USD
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-47263	USD
	us-gaap	Increase Decrease In Other Accrued Liabilities IncreaseDecreaseInOtherAccruedLiabilities	20938	USD
	us-gaap	Increase Decrease In Other Accrued Liabilities IncreaseDecreaseInOtherAccruedLiabilities	-5027	USD
	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	26642	USD
	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	23703	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-104930	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	31059	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	0	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	12109	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	0	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-12109	USD
	ivdn	Payment Of Shareholders Advances PaymentOfShareholdersAdvances	144100	USD
	ivdn	Payment Of Shareholders Advances PaymentOfShareholdersAdvances	0	USD
	us-gaap	Proceeds From Related Party Debt ProceedsFromRelatedPartyDebt	235000	USD
	us-gaap	Proceeds From Related Party Debt ProceedsFromRelatedPartyDebt	58500	USD
	us-gaap	Proceeds From Notes Payable ProceedsFromNotesPayable	142396	USD
	us-gaap	Proceeds From Notes Payable ProceedsFromNotesPayable	33477	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	119735	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-22253	USD
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	14805	USD
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-3303	USD
CY2011Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	91209	USD
CY2012Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	87906	USD
CY2013Q2	us-gaap	Inventory Valuation Reserves InventoryValuationReserves	58000	USD
	us-gaap	Shipping Handling And Transportation Costs ShippingHandlingAndTransportationCosts	26000	USD
CY2012	us-gaap	Shipping Handling And Transportation Costs ShippingHandlingAndTransportationCosts	54000	USD
CY2013Q1	us-gaap	Stock Issued During Period Shares Issued For Services StockIssuedDuringPeriodSharesIssuedForServices	30000	shares
CY2013Q1	us-gaap	Stock Issued During Period Value Issued For Services StockIssuedDuringPeriodValueIssuedForServices	9000	USD
CY2013Q2	us-gaap	Stock Issued During Period Shares Issued For Services StockIssuedDuringPeriodSharesIssuedForServices	40000	shares
CY2013Q2	us-gaap	Stock Issued During Period Value Issued For Services StockIssuedDuringPeriodValueIssuedForServices	16000	USD
CY2013Q1	us-gaap	Share Price SharePrice	0.30
CY2013Q2	us-gaap	Share Price SharePrice	0.40
CY2013Q3	us-gaap	Debt Instrument Carrying Amount DebtInstrumentCarryingAmount	255000	USD
	us-gaap	Loss Contingency Disclosures LossContingencyDisclosures	<div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <table style="clear:both;MARGIN-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px" cellspacing="0" cellpadding="0"> <tr style="TEXT-ALIGN: justify; VERTICAL-ALIGN: top"> <td style="WIDTH: 0in"> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"></div> </td> <td style="TEXT-ALIGN: left; WIDTH: 45pt"> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt">NOTE 10.</div> </td> <td style="TEXT-ALIGN: justify"> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"><u> LITIGATION</u></div> </td> </tr> </table> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"><font size="2"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 45pt; FONT: 10pt Times New Roman, Times, Serif"> During 2012, the Company filed a civil complaint in which we asserted that the defendants made deceptive claims in the advertising and promotions that were aimed at our Arctic Armor products. The Company was then named as a defendant in a countersuit that asserted libel, slander, and torturous interference. During June, 2013, a settlement was reached regarding the open litigation. The Company dropped the suit in Pennsylvania, and the defendant dropped the suit in Minnesota. The parties have entered a mutual non-disparagement agreement. As a result, the Company has removed the contingent liability of $<font style=" FONT-SIZE: 10pt">190,000</font> associated with the countersuit.</div> </div>

Files In Submission

Name	View Source	Status
0001144204-13-050619-index-headers.html	Edgar Link	pending
0001144204-13-050619-index.html	Edgar Link	pending
0001144204-13-050619.txt	Edgar Link	pending
0001144204-13-050619-xbrl.zip	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xls	Edgar Link	pending
ivdn-20130731.xml	Edgar Link	completed
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$IVDN
INNOVATIVE DESIGNS INC Stock $ivdn

2013 Q3 Form 10-Q Financial Statement

#000114420413050619 Filed on September 13, 2013

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$IVDN INNOVATIVE DESIGNS INC Stock $ivdn

2013 Q3 Form 10-Q Financial Statement

#000114420413050619 Filed on September 13, 2013

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$IVDN
INNOVATIVE DESIGNS INC Stock $ivdn