Innovative Designs (OTCMKTS:IVDN) Stock On Watchlist After Receiving Patent for Propriety Process With Low Density Foam

Innovative Designs (OTCMKTS:IVDN) made a significant announcement yesterday with regards to a patent related matter and it may be of interest to many investors.

Trading Data

On Thursday, IVDN stock slumped 1.50% to $0.2300 with more than 22.23K shares, compared to its average volume of 4.08K shares. The stock moved within a range of $0.2300 – 0.2400 after opening trade at $0.2300.

Innovative Designs Receives Patent for Propriety Process With Low Density Foam

The company announced that back on April 11, 2023, the United States Patent and Trademark Office issued a patent for its proprietary process for making closed and evacuated cell expanded low density foam. It was also noted that the process was entitled to patent protection. It was back in January this year that the USPTO had issued a Notice of Allowance for the same and it was on April 11 that the patent was finally issued to Innovative Designs.

Joseph Riccelli, who is the Chief Executive Officer of Innovative Designs, spoke about the matter as well. He noted that it was a major milestone for the company and also validated the company’s Insultex insulation.

However, more importantly, he went on to add that with the patent now with the company, it could spark unprecedented growth for Innovative Designs as it was going to make moves in a number of new markets including apparels. Hence, it is going to be interesting to see if the Innovative Designs stock ends the week with a strong show or not.