$IVDN
INNOVATIVE DESIGNS INC

2014 Q1 Form 10-Q Financial Statement

#000114420414017045 Filed on March 21, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q1
Revenue $373.8K $295.0K
YoY Change 26.68% -46.53%
Cost Of Revenue $170.0K $127.6K
YoY Change 33.16%
Gross Profit $203.8K $167.4K
YoY Change 21.73%
Gross Profit Margin 54.53% 56.74%
Selling, General & Admin $140.8K $150.1K
YoY Change -6.15%
% of Gross Profit 69.11% 89.64%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.115K $479.00
YoY Change 132.78%
% of Gross Profit 0.55% 0.29%
Operating Expenses $310.8K $277.7K
YoY Change 11.92%
Operating Profit $62.96K $17.35K
YoY Change 262.88% -86.62%
Interest Expense $28.27K $24.32K
YoY Change 16.23%
% of Operating Profit 44.9% 140.18%
Other Income/Expense, Net -$28.27K
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings $34.69K -$6.972K
YoY Change -597.62% -106.45%
Net Earnings / Revenue 9.28% -2.36%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 19.44M shares 18.94M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $100.0K $60.00K
YoY Change 66.67% -62.5%
Cash & Equivalents $96.12K $55.94K
Short-Term Investments
Other Short-Term Assets $40.00K $20.00K
YoY Change 100.0%
Inventory $580.0K $590.0K
Prepaid Expenses
Receivables $158.8K $90.00K
Other Receivables $0.00 $0.00
Total Short-Term Assets $880.0K $750.0K
YoY Change 17.33% -17.58%
LONG-TERM ASSETS
Property, Plant & Equipment $20.00K $20.00K
YoY Change 0.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $16.63K $20.00K
YoY Change -16.88%
TOTAL ASSETS
Total Short-Term Assets $880.0K $750.0K
Total Long-Term Assets $16.63K $20.00K
Total Assets $896.6K $770.0K
YoY Change 16.44% -15.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $80.00K $80.00K
YoY Change 0.0% 60.0%
Accrued Expenses $300.0K $200.0K
YoY Change 50.0% 81.82%
Deferred Revenue
YoY Change
Short-Term Debt $350.0K $200.0K
YoY Change 75.0% 33.33%
Long-Term Debt Due $60.00K $80.00K
YoY Change -25.0% 300.0%
Total Short-Term Liabilities $800.0K $740.0K
YoY Change 8.11% 124.24%
LONG-TERM LIABILITIES
Long-Term Debt $330.0K $340.0K
YoY Change -2.94% -5.56%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $330.0K $340.0K
YoY Change -2.94% -5.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $800.0K $740.0K
Total Long-Term Liabilities $330.0K $340.0K
Total Liabilities $1.130M $1.080M
YoY Change 4.63% 56.52%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$240.0K -$310.0K
YoY Change
Total Liabilities & Shareholders Equity $900.0K $770.0K
YoY Change 16.88% -15.38%

Cashflow Statement

Concept 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income $34.69K -$6.972K
YoY Change -597.62% -106.45%
Depreciation, Depletion And Amortization $1.115K $479.00
YoY Change 132.78%
Cash From Operating Activities $110.0K $90.00K
YoY Change 22.22% -64.0%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $10.00K $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -80.00K -90.00K
YoY Change -11.11% -52.63%
NET CHANGE
Cash From Operating Activities 110.0K 90.00K
Cash From Investing Activities 0.000
Cash From Financing Activities -80.00K -90.00K
Net Change In Cash 30.00K 0.000
YoY Change -100.0%
FREE CASH FLOW
Cash From Operating Activities $110.0K $90.00K
Capital Expenditures $0.00
Free Cash Flow $110.0K
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2014Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
52000 USD
CY2013Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
52000 USD
CY2014Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
96120 USD
CY2014Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
158838 USD
CY2013Q4 ivdn Inventory Net Excluding Inventory On Consignment
InventoryNetExcludingInventoryOnConsignment
614581 USD
CY2013Q4 ivdn Deposits On Inventory
DepositsOnInventory
30846 USD
CY2014Q1 ivdn Deposits On Inventory
DepositsOnInventory
37281 USD
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
69613 USD
CY2013Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
90583 USD
CY2014Q1 ivdn Inventory Net Excluding Inventory On Consignment
InventoryNetExcludingInventoryOnConsignment
516871 USD
CY2013Q4 us-gaap Prepaid Insurance
PrepaidInsurance
7655 USD
CY2013Q4 us-gaap Assets Current
AssetsCurrent
860178 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
18346 USD
CY2013Q1 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
10500 USD
CY2014Q1 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
11600 USD
CY2014Q1 us-gaap Share Price
SharePrice
0.20
CY2013Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2013Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2013Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2013Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2013Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
19325743 shares
CY2013Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
19325743 shares
CY2013Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
295046 USD
CY2013Q1 us-gaap Cost Of Goods Sold
CostOfGoodsSold
127631 USD
CY2014Q1 us-gaap Cost Of Goods Sold
CostOfGoodsSold
169952 USD
CY2013Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
150064 USD
CY2014Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
140836 USD
CY2013Q1 us-gaap Operating Expenses
OperatingExpenses
277695 USD
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
310788 USD
CY2014Q1 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
74300 USD
CY2013Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
17351 USD
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
62964 USD
CY2013Q1 us-gaap Interest Expense
InterestExpense
24323 USD
CY2014Q1 us-gaap Interest Expense
InterestExpense
28270 USD
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
-6972 USD
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
34694 USD
CY2013Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.000
CY2014Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.002
CY2013Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
18935743 shares
CY2014Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
19440281 shares
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
-301362 USD
CY2013 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
25000 USD
CY2013Q1 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
0 USD
CY2014Q1 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
9300 USD
CY2013Q1 us-gaap Depreciation
Depreciation
479 USD
CY2014Q1 us-gaap Depreciation
Depreciation
1115 USD
CY2013Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-13597 USD
CY2014Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
68255 USD
CY2013Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-38314 USD
CY2014Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-72522 USD
CY2013Q1 ivdn Increase Decrease In Deposits On Inventory
IncreaseDecreaseInDepositsOnInventory
-20912 USD
CY2014Q1 ivdn Increase Decrease In Deposits On Inventory
IncreaseDecreaseInDepositsOnInventory
6435 USD
CY2013Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-3110 USD
CY2014Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-5459 USD
CY2013Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
13164 USD
CY2014Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
56 USD
CY2013Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
0 USD
CY2014Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
56055 USD
CY2013Q1 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
3500 USD
CY2014Q1 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
2741 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
86104 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
111252 USD
CY2013Q1 ivdn Payment Of Shareholders Advances
PaymentOfShareholdersAdvances
88000 USD
CY2014Q1 ivdn Payment Of Shareholders Advances
PaymentOfShareholdersAdvances
22000 USD
CY2013Q1 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
20000 USD
CY2014Q1 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
0 USD
CY2013Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
80163 USD
CY2014Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
72745 USD
CY2013Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
63000 USD
CY2014Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-85163 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-84745 USD
CY2013Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
941 USD
CY2014Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
26507 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
54995 USD
CY2013Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
55936 USD
CY2013Q1 us-gaap Interest Paid
InterestPaid
20823 USD
CY2014Q1 us-gaap Interest Paid
InterestPaid
18979 USD
CY2014Q1 dei Document Type
DocumentType
10-Q
CY2014Q1 dei Amendment Flag
AmendmentFlag
false
CY2014Q1 dei Document Period End Date
DocumentPeriodEndDate
2014-01-31
CY2014Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q1 dei Trading Symbol
TradingSymbol
IVDN
CY2014Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
19747243 shares
CY2014Q1 dei Entity Registrant Name
EntityRegistrantName
INNOVATIVE DESIGNS INC
CY2014Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001190370
CY2014Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--10-31
CY2014Q1 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2014Q1 us-gaap Other Inventory Materials Supplies And Merchandise Under Consignment
OtherInventoryMaterialsSuppliesAndMerchandiseUnderConsignment
68088 USD
CY2013Q4 us-gaap Other Inventory Materials Supplies And Merchandise Under Consignment
OtherInventoryMaterialsSuppliesAndMerchandiseUnderConsignment
42900 USD
CY2014Q1 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
0 USD
CY2013Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
4000 USD
CY2014Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
74300 USD
CY2013 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
64000 USD
CY2014Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
10000 USD
CY2013Q1 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
0 USD
CY2013Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2014Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
10000 USD
CY2013Q1 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
0 USD
CY2014Q1 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-4000 USD
CY2014Q1 us-gaap Sales Revenue Net
SalesRevenueNet
34908 USD
CY2014Q1 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
0.20
CY2014Q1 us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
14000 shares

Files In Submission

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0001144204-14-017045-index-headers.html Edgar Link pending
0001144204-14-017045-index.html Edgar Link pending
0001144204-14-017045.txt Edgar Link pending
0001144204-14-017045-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
ivdn-20140131.xml Edgar Link completed
ivdn-20140131.xsd Edgar Link pending
ivdn-20140131_cal.xml Edgar Link unprocessable
ivdn-20140131_def.xml Edgar Link unprocessable
ivdn-20140131_lab.xml Edgar Link unprocessable
ivdn-20140131_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
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