Form 10-Q - Quarterly report [Sections 13 or 15(d)]

A UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

☒	QUARTERLY REPORT PURSUANT TO SECTION 13l OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the quarterly period ended April 30, 2024

☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the transition period from _______ to ________.

Commission File Number: 000-51791

INNOVATIVE DESIGNS, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware	03-0465528
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification No.)

124 Cherry Street

Pittsburgh, Pennsylvania 15223

(Address of Principal Executive Offices, Zip Code)

(412) 799-0350

(Issuer’s Phone Number Including Area Code)

N/A

(Former Name or Former Address, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities and Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

YES

☐

☒

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of regulation S-T during the preceding 12 months (or such shorter period that the registrant was required to submit and post such files). Yes ☒ NO ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting Company” in Rule 12b-2 of the Exchange Act.

(Check One)

Large Accelerated Filer ☐	Accelerated Filer ☐

Non-accelerated Filer ☐	Smaller reporting company ☒

☐

(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES ☐ NO ☒

As of September 30, 2024, there were 37,924,003 shares of the Registrant’s common stock, par value $.0001 per share, outstanding.

Transitional Small Business Disclosure Format: YES ☐ NO ☒

Innovative Designs, Inc.

Index

Form 10-Q for the Quarter Ended April 30, 2024

	Part I -- Financial Information	Page No.

Item 1.	Condensed Financial Statements (Unaudited)

	Condensed Balance Sheets as of April 30, 2024 (Unaudited) And October 31, 2023	2

	Condensed Statements of Operations for the Six-Month Periods Ended April 30, 2024 and 2023 (Unaudited)	3

	Condensed Statements of Changes in Stockholders’ Equity as of April 30, 2024 (Unaudited) and October 31, 2023	4

	Condensed Statements of Cash Flows for the Six-Month Periods Ended April 30, 2024 and 2023 (Unaudited)	5

	Notes to the Condensed Financial Statements	6

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	12

	Part II -- Other Information	15

Items 1, 2, 3, 4, 4T and 5.		15 - 16

Item 6.	Exhibits	17

INNOVATIVE DESIGNS, INC

CONDENSED BALANCE SHEET

AS OF APRIL 30, 2024 AND OCTOBER 31, 2023


ASSETS	April 30, 2024			October 31, 2023

Current Assets

Cash and Cash Equivalents	$	241,712		$	238,677

Accounts Receivable, Net	$	123,170		$	31,050

Inventory, Net	$	523,443		$	549,276

Other Current Receivables	$	16,541		$	8,200

Total Current Assets	$	904,866		$	827,203

Long-Term Assets

Property, Plant, and Equipment, Net	$	21,150		$	23,479

Deposits on Equipment	$	652,944		$	652,944

Total Long-Term Assets	$	674,094		$	676,423

Total Assets	$	1,578,960		$	1,503,626

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

Liabilities

Current Liabilities

Credit Cards	$	72,317		$	71,659

Accounts Payable	$	60,646		$	144,967

Other Current Liabilities	$	98,847		$	121,938

Total Current Liabilities	$	231,810		$	338,564

Long-Term Liabilities

Notes Payable	$	42,362		$	56,429

Total Long-Term Liabilities	$	42,362		$	56,429

Total Liabilities	$	274,172		$	394,993

Stockholders Equity

Common Stock; $0.0001 par value; 100,000,000 shares authorized; 37,839,003 and 36,532,560 shares issued and outstanding as of April 30, 2024 and October 31, 2023 respectively	$	3,784		$	3,653

Paid-In Capital	$	11,979,124		$	11,741,935

Retained Earnings (Deficit)	$	(10,636,955	)	$	(10,335,578	)

Net Income (Loss)	$	(41,165	)	$	(301,377	)

Total Stockholders' Equity (Deficit)	$	1,304,788		$	1,108,633

Total Liabilities and Stockholders Equity (Deficit)	$	1,578,960		$	1,503,626

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INNOVATIVE DESIGNS, INC.

CONDENSED STATEMENT OF OPERATIONS

PERIOD ENDING APRIL 30, 2024


	Six-Month Ended April 30,						Three-Month Ended April 30,
	2024			2023			2024			2023

Revenues	$	366,217		$	98,896		$	300,331		$	27,249

Cost of Goods Sold	$	186,384		$	30,359		$	151,560		$	13,349

Gross Profit	$	179,833		$	68,537		$	148,771		$	13,900

Operating Expenses	$	206,722		$	234,974		$	121,040		$	121,091

Income (Loss) from operations	$	(26,889	)	$	(166,437	)	$	27,731		$	(107,191	)

Other Income (Expenses)

Gain (Loss) on Assets	$	0		$	7,519		$	—		$	—

Depreciation Expenses	$	(2,329	)	$	(1,537	)	$	(1,165	)	$	(768	)

Interest Expenses	$	(11,946	)	$	(11,231	)	$	(4,338	)	$	(4,632	)

Total other income (expenses)	$	(14,275	)	$	(5,249	)	$	(5,503	)	$	(5,400	)

Net Income (Loss)	$	(41,164	)	$	(171,686	)	$	22,228		$	(112,591	)

Earnings Per Share - Basic	$	(0.001	)	$	(0.005	)	$	0.001		$	(0.003	)
Weighted average common shares outstanding		37,834,682			35,177,560			37,459,401			35,177,560

Earnings Per Share - diluted	$	(0.001	)	$	(0.005	)	$	0.001		$	(0.003	)
Weighted average common shares outstanding		37,834,682			35,908,060			37,461,096			35,908,060

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Innovative Design, Inc

Statements of Change in Stockholder’s Equity

Six-Month Ending April 30, 2024 (Unaudited)


	Common Shares				Additional Paid-In		Accumulated			Total Stockholders
	Shares		Amount		Capital		Deficit			Equity (Deficit)

Balance - October 31, 2022		34,650,560	$	3,467	$	11,335,184	$	(10,335,579		$	1,003,072

Sale of Stock		500,000	$	50	$	109,950		—		$	110,000

Shares Issued for Services		27,000	$	3	$	5,937	$	—		$	5,940

Net Income (Loss)		—		—		—	$	(59,094	)	$	(59,094	)

Balance at January 31, 2023		35,177,560	$	3,520	$	11,451,071	$	(10,394,673	)	$	1,059,918

Net Income (Loss)		—		—		—	$	(112,591	)	$	(112,591	)

Balance at April 30, 2023		35,177,560	$	3,520	$	11,451,071	$	(10,507,264	)	$	947,327

Balance - October 31, 2023		36,532,560	$	3,653	$	11,741,935	$	(10,636,955	)	$	1,108,633
Sale of stock		580,888	$	58	$	105,862	$	—		$	105,920

Stock issued for services		670,000		67		121,333	$	—		$	121,400

Net Income (Loss)		—	$	—	$	11,979,124	$	(63,393	)	$	(63,393	)

Balance – January 31,2024		37,783,448	$	3,778	$	11,969,130	$	(10,700,348	)	$	1,272,560

Sale of stock		55,555	$	6	$	9,994		—		$	10,000

Net Income (Loss)		—		—		—	$	22,228		$	22,228

Balance – April 30, 2024		37,839,003	$	3,784	$	11,979,124	$	(10,678,120	)	$	1,304,788

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INNOVATIVE DESIGNS, INC.

STATEMENT OF CASH FLOWS

AS OF APRIL 30, 2024 (UNAUDITED)


	Six-Month Ended April 30
	2024			2023

CASH FLOWS FROM OPERATING ACTIVITIES

Net Loss	$	(41,165	)	$	(171,686	)

Adjustments to reconcile net loss to net cash used in operating activities

Increase/(Decrease) in Depreciation / Amortization	$	2,329		$	1,537

Changes In Operating Assets and Liabilities

Increase in Credit Cards Liabilities	$	658		$	—

Increase/(Decrease) Accounts Payables and Other Current Liabilities	$	(107,412	)	$	68,125

(Increase) / Decrease in Interest and Other Receivables	$	(92,120	)	$	9,294

(Increase) / Decrease in Inventory	$	25,834		$	(133,775	)

Decrease in Prepaid Expenses	$	(8,342	)	$	—

Net Cash Used In Operating Activities	$	(220,218	)	$	(226,505	)

CASH FLOWS FROM INVESTING ACTIVITIES

Increase / (Decrease) in Deposits on Machinery & Equipment	$	—		$	19,834

Net Cash Used In Investing Activities	$	—		$	19,834

CASH FLOWS FROM FINANCING ACTIVITIES

Issuance of Stock	$	237,320		$	115,940

Increase / (Decrease) in Notes Payable	$	(14,067	)	$	(107,555	)

Net Cash Used In Financing Activities	$	223,253		$	8,385

Net Increase (Decrease) In Cash	$	3,035		$	(198,286	)

Cash at the Beginning of the Period	$	238,677		$	263,293

Cash at the End of the Period	$	241,712		$	65,007

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Innovative Designs Inc

Notes to Financial Statements

BASIS OF PRESENTATION

In the opinion of management, the accompanying unaudited financial statements contain all adjustments necessary to present fairly Innovative Designs, Inc.’s (the “Company”) financial position as of April 30, 2024, the changes therein for the six-month periods that ended and the results of operations for the six-month periods ended April 30, 2024.

The condensed financial statements included in the Form 10-Q (the “Form”) are presented in accordance with the requirements of the Form and do not include all of the disclosures required by generally accepted accounting principles in the United States of America. For additional information, reference is made to the Company’s annual report on Form 10-K for the fiscal year ending October 31, 2023. The results of operations for the six-month period ending April 30, 2024 are not necessarily indicative of operating results for the full year.

The Company’s unaudited consolidated financial statements have been prepared in accordance with GAAP and pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted from this report, as is permitted by such rules and regulations. Accordingly, these consolidated financial statements should be read in conjunction with the audited financial statements as of and for the year ended October 31, 2023, and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended October 31, 2023, filed with the SEC on ???? the “2023 Annual Report”). The results for any interim period are not necessarily indicative of results for any future period.

The unaudited consolidated financial statements have been prepared on the same basis as the audited financial statements. In the opinion of the Company’s management, the accompanying unaudited consolidated financial statements contain all adjustments that are necessary to present fairly the Company’s financial position and results of operations for the interim periods presented. The results for the three and six months ended April 30, 2024, are not necessarily indicative of the results for the year ending October 31, 2024 , or for any future period.

As of April 30, 2024, there have been no material changes in the Company’s significant accounting policies from those that were disclosed in the 2023 Annual Report.

GOING CONCERN

These condensed financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company had a net loss of ($41,165) and a negative cash flow of ($143,218) from operation activities for the six-month period ending April 30, 2024. In addition, the Company has an accumulated deficit of ($10,678,120). Management’s plans include cash receipts through sales, sales of Company stock, and borrowings from private parties. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern for a period of one year from the issuance of these condensed financial statements. These condensed financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

ACCOUNTS RECEIVABLE

Accounts receivables are reported at their net realizable value. The Company evaluates its receivables on a quarterly basis to assess the validity of remaining receivables. Management has determined that there is significant doubt regarding the receivable balance over 90 days. There were $332 in receivables over 90 days as of April 30, 2024, and no balances over 90 days as of October 31, 2024.

OPENING AND CLOSING BALANCE OF RECEIVABLES

The opening balance of accounts receivable was $31,050. The ending balance of accounts receivable for the six-month period ending April 30, 2024, was $124,450. There was not an allowance for doubtful accounts at the beginning or end of the period.

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INVENTORY

Inventory consists principally of purchased apparel inventory and house wrap which is manufactured by the Company. Inventory is stated at the lower of cost or net realizable value on a first-in, first-out basis. The Company has decided to discontinue the manufacturing of its Artic Armor, hunting and swimming line of apparel. The Company has booked a reserve against apparel inventory as of April 30, 2024 and October 31, 2023 of $65,600. Management has determined that no allowance is currently necessary on the house wrap inventory. Management will continue to evaluate its obsolete inventory reserve throughout the year and make adjustments as needed. As of April 30, 2024, the total value of the inventory on hand prior to the allowance for obsolete inventory is $589,043

WARRANTIES

The Company provides a ten-year limited warranty covering defects in workmanship. These warranties are included in the contract and do not provide customers with a service in addition to assurance of compliance with agreed-upon specifications. The Company does not consider these assurance-type warranties to be separate performance obligations. Management has determined that no warranty reserve is currently necessary on the Company’s products. Management will continue to evaluate the need for a warranty reserve throughout the year and make adjustments as needed.

NOTES PAYABLE

During December 2023, the Company entered into a convertible promissory note in the amount of $50,000 due and payable in December 2024 at an annual interest rate of 6.0%. The note is secured by $100,000 of the Company’s inventory. Any principal and unpaid accrued interest outstanding as of the due date may be converted to common stock at a value of $0.20 per share.

During 2005, the Company entered into an agreement with the U.S. Small Business Association. The note is payable in monthly installments of $1,820 with the balance due and payable in November 2026, at an interest rate of 2.60%.

As of April 30, 2024, all notes payables are up to date.

LOANS

Loans to the Company, including accrued interest, totaled $47,244 and $147,450 as of January 31, 2024 and 2023, respectively. The loans bear interest between 10% and 12%.

-7-

REVENUES

Revenues are measured based on the amount of consideration specified in a contract with a customer. The Company recognizes revenue when and as performance obligations (i.e., obligations to transfer goods and/or services) are satisfied, which generally occurs with the transfer of control of the goods or services to the customer.

To determine proper revenue recognition, the Company evaluates whether two or more contracts should be combined and accounted for as a single contract and whether a combined or single contract should be accounted for as more than one performance obligation. This evaluation requires significant judgment, and the decision to combine contracts or separate a combined or single contract into multiple performance obligations could change the amount of revenue and profit recorded in a given period. Contracts are considered to contain a single performance obligation if the promise to transfer individual goods or services is not separately identifiable from other promises in the contracts.

For contracts with multiple performance obligations, the Company allocates the transaction price to each performance obligation using the best estimate of the standalone selling price of each distinct good or service in the contract.

10.

EARNINGS PER SHARE

The Company calculates net loss per share in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standard Codification (“ASC”) Topic 260, ”Earnings per Share”. Basic earnings (loss) per share is calculated by dividing income (loss) by the weighted average number of common shares outstanding for the period. During the periods presented, the Company only has common stock outstanding. In 2021, the Company issued a convertible debt instrument. In addition, the Company also has stock warrants of 2,429,443 and 2,373,888 as of April 30, 2024, and October 31, 2023, respectively. The Company has calculated diluted earnings per share utilizing the outstanding stock warrants and convertible debt.

11.

INCOME TAXES

The Company accounts for income taxes in accordance with FASB ASC Topic 740 ”Income Taxes”, which requires an asset and liability approach for financial reporting purposes.

Deferred income taxes are provided for differences between the tax bases of assets and liabilities and the financial reporting amounts at the end of the period, and for net operating loss and tax credit carryforwards available to offset future taxable income. Changes in enacted tax rates or laws result in adjustments to recorded deferred tax assets and liabilities in the periods in which the tax laws are enacted or tax rates are changed. The Company will continue to evaluate its income tax obligation throughout the year and will record a tax provision when it is necessary.

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12.

SHIPPING AND HANDLING COSTS

The Company pays shipping and handling costs on behalf of customers for purchased apparel merchandise. These costs are billed back to the customer through the billing invoice. The shipping and handling costs associated with merchandise ordered by the Company are included as part of inventory as these costs are allocated across the merchandise received. With house wrap orders, the customer pays the shipping cost. The shipping and handling costs associated with customer orders was approximately $19,461 and $19,444 for the three-month periods ended April 30, 2024 and April 30, 2023, respectively.

13.

COMMON STOCK

During the six-month period ending April 30, 2024, the Company sold 580,888 shares of common stock to eight investors for total proceeds of $105,920, and 670,000 shares were issued to two individuals for services. The stock was issued between $0.18 and $0.20 per share. Additionally, the Company sold 55,555 shares of common stock to one investor for total proceeds of $10,000. The stock was issued at $0.18 per share.

14.

DEPOSITS ON EQUIPMENT

On July 12, 2015, the Company reached an agreement with Ketut Jaya to purchase the machinery and equipment utilized to produce the INSULTEX material. The purchase price is $700,000 and to be made in four installments. The first installment of $300,000 is to be made at the execution of the agreement. The second installment of $200,000 is to be made when the machinery and equipment is ready to be shipped to the United States. The third installment of $100,000 is to be made once the machinery and equipment is producing INSULTEX, and the fourth and final installment of $100,000 is to be made after the first commercial production run of INSULTEX is completed. As of October 31, 2018, the Company has made payments of $500,000 in accordance with the agreement and made a $100,000 pre-payment as the machine is not yet producing INSULTEX. Additionally, the Company has incurred $17,000 of additional expenses related to shipping, site improvements and installation of the equipment. During 2019, the Company determined the shipping costs of $17,000 were impaired and these costs were written off the balance due. During the fiscal year ended October 31, 2023, the Company made additional prepayments totaling $16,000 on the equipment.

During the fiscal year ended October 31, 2022, the Company made deposits on a separate piece of equipment of $7,370. During the fiscal year ended October 31, 2023, the Company made additional deposits of $29,574 on this piece of equipment. There have been no additional deposits made as of April 30, 2024 The remaining balance owed on said equipment as of April 30, 2024 is $77,000.

Total overall deposits on equipment as of April 30, 2024 and October 31, 2023 were $652,944.

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15.

LEASE

FASB ASC Topic 842, ”Leases”, establishes a right of use (“ROU”) model that requires a lessee to recognize a ROU asset and lease liability on the condensed balance sheets. ROU assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. ROU assets are reduced each period by an amount equal to the difference between the lease expense and the amount of interest expense on the lease liability, using the effective interest method. The Company used the average commercial real estate interest rate of 5.50% to calculate the present value of the lease. The Company recognizes lease expense on a straight-line basis over the leased term on the condensed statements of operations.

The Company entered into a lease for office space at the time the Company was formed through June 2022. Effective July 2022, the Company is leasing the office space on a month to month basis. As a result, the Company has elected to apply the short-term lease exemption to its lease of the facilities and therefore has not recorded a ROU asset and related lease liability.

16.

LEGAL PROCEEDINGS

On November 4, 2016, the Federal Trade Commission (“FTC”) filed a complaint against the Company in the U.S. District Court Western District of Pennsylvania, Case number 16-1669. In the complaint, the FTC alleges that, among other matters, the Company did not have substantiation of claims made by the Company regarding the R value and energy efficiency of its INSULTEX house wrap products. The complaint asks to redress a rescission of revenue the Company received from the sale of the house wrap and a permanent injunction. On September 24, 2020, a judgment was entered in favor of the Company as to all claims set forth in the FTC complaint. It was further ordered that as there were no remaining claims in the action the case shall be marked as closed.

On November 23, 2020, the Company was informed that the FTC had filed a notice of appeal in regard to the case. The appeal is from the District Court’s September 24, 2020, Order granting the Company’s Motion for Judgment on Partial Findings Pursuant to Fed. R. Civ. P. 52(c) and subsequent Judgment in favor of the Company and from the District Court’s February 14, 2020, striking Dr. David Yarbrough’s expert testimony made on behalf of the FTC. The FTC filed its appeal and on March 24, 2021, the Company filed its answer.

On July 22, 2021, the Registrant was informed that the U.S. Court of Appeals for the Third District affirmed the District Court’s ruling in favor of the Registrant. The ruling was in connection with the FTC complaint filed against the Registrant in November 2016, alleging, among other matters, that the Registrant did not have substantiation for claims made by the Registrant regarding the R-value and energy efficiency of its INSULTEX house wrap products.

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In November 2021, in connection with the FTC litigation, the Company filed an application for attorney fees, expenses and cost in the U.S. District Court for the Western District of Pennsylvania, Case No.2:16-cv-01669-NBF. On June 29, 2022, a settlement order was signed by the Court. Pursuant to the Order, the FTC paid the Company $260,000 to resolve all such claims. The parties agreed to waive all rights to appeal or otherwise challenge or contest the validity of the Order.

17.

ADPOTED PRONOUNCEMENT

The requirements of the following FASB statement were adopted for the Company’s condensed financial statements:

In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-13, ”Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). ASU 2016-13 introduces a new impairment model, the current expected credit loss (“CECL”) model. The model applies to most assets that are measured at amortized cost and requires those assets to be presented at the net amount expected to be collected. In addition, credit losses on available-for-sale debt securities are to be recognized through an allowance account. ASU 2016-13 also expands existing disclosure requirements. ASU 2016-13 is effective for fiscal years beginning after December 15, 2022, and interim periods therein, and requires retrospective application. The Company adopted the new standard effective November 1, 2023, and there were no material changes to the condensed balance sheets, condensed statements of operations, condensed statements of changes in stockholders’ equity, and condensed statements of cash flows as a result of the adoption.

18.

SUBSEQUENT EVENTS

The Company has evaluated subsequent events in accordance with ASC Topic 855, ”Subsequent Events”, through October 1, 2024, which is the date financial statements were available to be issued. The Company identified no material subsequent events that require recognition or disclosure.

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INNOVATIVE DESIGNS, INC.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

General

The following information should be read in conjunction with the financial statements and the notes thereto and in conjunction with Management’s Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for the fiscal year ended October 31, 2021.

Forward-Looking Statements

This Quarterly Report on Form 10-Q includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including statements regarding future results of operation, made in this Quarterly Report on Form 10-Q are forward-looking statements. We use words such as expects, believes, intends, and similar expressions to identify forward-looking statements. Forward looking-looking statements reflect management’s current expectations and are inherently uncertain. Actual results could differ materially for a variety of reasons, including, among others, competition in our cold weather markets, our ability to sell out HouseWrap product line, our inability to secure sufficient funding to maintain and/or expand our current level of operations and the seasonality of our cold weather product line. These risks and uncertainties, as well as other risks and uncertainties that could cause our actual results to differ significantly from management’s expectations, are described in greater detail in our Annual Report on Form 10-K for the fiscal year ended October 31, 2021. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise except as required by law.

Background

Innovative Designs, Inc. (hereinafter referred to as the “Company”, “we” or “our”) was formed on June 25, 2002. We market and sell clothing products such as outdoor apparel, and cold weather gear called “Arctic Armor” that are made from IINSULTEX, a material with buoyancy, scent block and thermal resistant properties. We also market our House Wrap product line, which is a building material with thermal qualities. House Wrap is also made from IINSULTEX. We obtain IINSULTEX through a license agreement with the owner and manufacturer of the material. Since our formation we have devoted our efforts to:

	●	Completing the development, design and prototypes of our products,
	●	Obtaining retail stores or sales agents to offer and sell our products,
	●	Developing our website to sell more of our products.

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Results of Operations

Comparison of the Three-Month Period Ended April 30, 2024, with the Three-Month Period Ended April 30, 2023.

The following table shows a comparison of the results of operations between the three month periods ended April 30, 2024, and April 30, 2023:

	Three Month						Three Month
	Period Ended						Period Ended
	30-April			%			30-April			%			Increase
	2024			of Sales			2023			of Sales			(Decrease)			% Change

REVENUE - NET	$	300,331.00					$	27,249.00					$	273,062.00			90.9	%

OPERATING EXPENSES
Cost of sales	$	151,560.00			50.5	%	$	13,349.00			49.0	%	$	138,211.00			91.2	%
Selling, general and administrative expenses	$	121,040.00			40.3	%	$	121,091.00			444.2	%	$	51.00			0.0	%
Total Operating Expenses	$	121,040.00					$	121,091.00
Income/Loss from operations	$	27,731.00			9.2	%	($	107,191.00	)		-393.4	%	$	134,922.00			486.5	%

Other income (expense)
Miscellaneous Income (expense)	$	0.00					$	0.00			100.0	%	$	0.00			100.0	%
Interest expense	($	4,338.00	)		-1.4	%	($	4,632.00	)		-17.0	%	$	294.00			-6.8	%
Depreciation	($	1,165.00	)				$	768.00			-2.8	%	($	397.00	)		34.1	%
Total other income (expense)	($	5,503.00	)		-1.8	%	($	5,400.00	)		-19.8	%	($	103.00	)		1.9	%
Net Income (Loss)	$	22,228.00			7.4	%	($	112,591.00	)		-413.2	%	$	134,819.00			606.5	%

Revenues for the three-month period ended April 30, 2024, were $300,331 compared to revenues of $27,249 for the three-month period ended April 30, 2023. The increase in revenue is attributable solely to an increase in sales of our Houswrap product line. During the period we had no sales of any apparel.

Our selling, general and administrative expenses (“SG&A”) were $121,040 for the three months ended April 30, 2024, compared to $121,091 for the three-month period ended April 30, 2023. In February of 2024, we hired a son of our former CEO as a consultant at a rate of $1,000 per week. On September 30, 2024, the consulting arrangement was ended.

-13-

INNOVATIVE DESIGNS, INC.

Results of Operations

Comparison of the Six-Month Period Ended April 30, 2024, with the Six -Month Period Ended April 30, 2023.

	Six Month					Six Month
	Period Ended					Period Ended
	30-April		%			30-April		%			Increase
	2024		of Sales			2023		of Sales			(Decrease)		% Change

REVENUE - NET	$	366,217.00				$	98,896.00				$	267,321.00		73.0	%

OPERATING EXPENSES
Cost of sales	$	186,384.00		50.9	%	$	30,359.00		30.7	%	$	156,025.00		83.7	%
Selling, general and administrative expenses	$	206,722.00		56.4	%	$	234,974.00		237.6	%	$	-28,252.00		-13.7	%

Total Operating Expenses	$	206,722.00				$	234,974.00
Loss from operations	$	-26,889.00		-7.3	%	$	-166,434.00		-168.3	%	$	139,548.00		-519.0	%

Other income (expense)
Miscellaneous Income (expense)	$	0.00				$	7,519.00		100.0	%	$	-7,519.00		100.0	%
Interest expense	$	-11,946.00		-3.3	%	$	-11,231.00		-11.4	%	$	-715.00		6.0	%
Depreciation	$	-2,329.00				$	-1,537.00		-1.6	%	$	-792.00		34.0	%
Total other income (expense)	$	-14,275.00				$	-5,249.00		-5.3	%	$	-9,026.00		63.2	%
Net Loss	$	-41,164.00		-11.2	%	$	171,686.00		-173.6	%	$	130,522.00		-317.1	%

Revenues for the six-month period ended April 30, 2024, were $366,217 compared to revenues of $98,896 for the six-month period ended April 30, 2024. The increase in revenue is nearly all attributable to an increase in our House Wrap products’ revenue as we had approximately $7,000 in apparel sales during the period.

As of September 27,2024, we have a backlog of approximately $247,00 in orders for our Housewrap product line.

As of August 30, 2024, one of our Distributors has generated approximately $550,000 in sales.

SG&A expenses were $206,722 for the six month period ended April 30, 2024, compared to $234,974 for the six month period ended April 30, 2023.

In the period starting May 1, 2024, to September 3, 2024, our sales have increased 158% over the period beginning November 1, 2023, to April 30, 2024.

-14-

INNOVATIVE DESIGNS, INC.

Liquidity and Capital Resources

During the three-month period ended April 30, 2024, we funded our operations from revenues and the sale of our common stock.

Short Term: We will continue to fund our operations from sales and the sale of our securities. We continue to pay our creditors when payments are due. We will require more funds to be able to order the material for our Insultex products and to purchase equipment needed for the manufacture of the Insultex product. The Company reached an agreement with the manufacturer of the Insultex material to purchase a machine capable of producing the Insultex material. Also included in the proposed agreement will be the propriety formula that creates Insultex. The Company took delivery of the equipment in December 2015. The Company will have to have the machine installed and ensure that it can be operated in compliance with all environmental rules and regulations. It is the Company intentions to have the equipment operational but cannot currently provide a time estimate. Among the factors affecting the time estimate are the financial resources available to the Company, finding a suitable facility and bringing technical personnel from abroad to install the equipment. The Company has currently made deposits of $600,000 on the equipment. The Company has incurred $17,000 of additional expenses related to shipping. The Company will produce Insultex under its own brand name. See Note 14 of the Notes to the Condensed Financial Statements.

The new quality control testing equipment for our House Wrap Product line has been built. We have reached an agreement with the vendor on the final amount. As of August 30, 2024, we have paid approximately $134,000 in deposits for the equipment. We expect to accept delivery of the equipment when we are able to reach an agreement with a testing laboratory that will house the equipment. Once the equipment is installed it will have to go through a certification process before we will be able to conduct tests on our Insultex products. Once the testing equipment is certified, we intend to begin the process of having Insulted certified by ICC Evaluation Services, LLC (“ICC-ES”). ICC-ES certifies, among other items, building materials and products of which our House Wrap falls under. The reason we need to have ICC-ES certification is that we believe in order to get large orders for House Wrap, ICC-ES certification will be required. The other component part of the Housewrap produced by a third party is ICC-Es certified. Getting ICC-ES certification is costly and time consuming.

Long Term: The Company will continue to fund its operations from revenues, borrowings from private parties and the possible sale of our securities. Should we not be able to rely on the private sources for borrowing and /or increased sales, our operations would be severely affected as we would not be able to fund our purchase orders to our suppliers for finished goods and our efforts to produce our own IINSULTEX would be delayed.

Subsequent to the period, on September 26, 2024, we appointed a new CEO/CFO. Please see our Form 8-K filed on September 27, 2024.

PART II – OTHER INFORMATION

ITEM 1. LEGAL PROCEEDING

See Note 16 of the Notes to the Condensed Financial Statements appearing elsewhere in this Report.

ITEM 1A Risk Factors

See Risk factors set forth in Part I Item 1A of the Company’s Annual report on Form 10-K for the fiscal year ended October 31, 2023.Set forth below are additional risk factors.

Sole Source for Insultex. We rely on a single source for the Insultex material. We do not believe we could obtain Insultex from any other source. Insultex is manufactured by a company in Indonesia using proprietary technology Should we not be able to obtain Insultex from this company for any reason we could no longer maintain operations.

Reliance on Key Personal. Mr. Gregory Domian is our Executive Vice-President, Operations. Should we lose the services of Mr. Domian our operations would be materially affected.

ITEM 1B Climate-Related Disclosure.

N/A

-15-

INNOVATIVE DESIGNS, INC.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 3. Defaults upon Senior Securities

None

Item 4 Mine Safety Disclosures

Not applicable

ITEM 4T. CONTROLS AND PROCEDURES

Management has developed and implemented a policy and procedures for reviewing, on a quarterly basis, our disclosure controls and procedures. During the period ended April 30, 2024,, our principal executive/financial officer concluded that these controls and procedures were ineffective. At this time, we do not have the financial resources to employ a financial staff with accounting and financial expertise. Once we have the necessary financial resources, we plan to hire and designate an individual responsible for identifying reportable developments and to implement procedures designed to remediate the material weakness by focusing additional attention and resources in our internal accounting functions.

Changes in Internal Control Over Financial Reporting

During the most recent fiscal quarter, there were no changes in the Company’s internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Exchange Act Rules 13(a)-15 or 15d-15 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

Until the Company has the financial resources to employ a financial staff with accounting and financial expertise, to be able to properly account for internal financial reporting, errors that may have a material effect on the financial statements have the potential to occur.

ITEM 5. Other Information

During the quarter ended April 30, 2024, no director or officer of the Company adopted or terminated a “rule 10b5-1 trading arrangement” or “non-Rule 10b-5 trading arrangement” as such terms are defined in Item 408(a) of Regulation S-K.

-16-

INNOVATIVE DESIGNS, INC.

ITEM 6. EXHIBITS

*3.1	Revised Certificate of Incorporation

**3.2	By-Laws

31.1	Rule 13a - 14a Certification of Chief Executive Officer

31.2	Rule 13a-14a Certification of Chief Financial Officer and Principal Accounting Officer

32.1	Section 1350 Certification of Chief Executive Officer and Chief Financial Officer

32.2	Section 1350 Certification of Chief Financial Officer and Chief Accounting Officer

*	Incorporated by reference to the Company’s Form 10-K filed February 12, 2015

**	Incorporated by reference to the Company’s registration statement on Form SB-2, filed March 11, 2003

99***	Incorporated by reference to the Company’s Current Report on Form 8-k, filed November 4, 2016

-17-

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		Innovative Designs, Inc.
		Registrant

Date: October 1, 2024	by:	/s/ John Thomas
		John Thomas, Chief Executive Officer
		and Chief Financial Officer

-18-

EXHIBIT 31.1

INNOVATIVE DESIGNS, INC.

CERTIFICATIONS

I, John Thomas, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Innovative Designs, Inc.;

2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

4. I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the registrant and have:

(a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this quarterly report is being prepared;

(b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this quarterly report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: October 1, 2024	by:	/s/John Thomas
		John Thomas
		Chief Executive Officer

EXHIBIT 31.2

INNOVATIVE DESIGNS, INC.

CERTIFICATIONS

I, John Thomas, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Innovative Designs, Inc.;

2. Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this annual report;

3. Based on my knowledge, the financial statements, and other financial information included in this annual report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this annual report;

4. I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this annual report is being prepared;

(b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this annual report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

(a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: October 1, 2024	by:	/s/ John Thomas
		John Thomas
		Chief Financial Officer, Principal Accounting Officer

EXHIBIT 32.1

SECTION 906 CERTIFICATION

CERTIFICATION REQUIRED BY

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF THE

SARBANES-OXLEY ACT OF 2002

In connection with the quarterly report of Innovative Designs, Inc. (the “Company”) on Form 10-Q for the quarterly period ended April 30, 2024, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), the undersigned hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

	(1)	The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

	(2)	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: October 1, 2024	by:	/s/ John Thomas
		John Thomas, CEO
		Chief Executive Officer

EXHIBIT 32.2

SECTION 906 CERTIFICATION

CERTIFICATION REQUIRED BY

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF THE

SARBANES-OXLEY ACT OF 2002

	(1)	The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

	(2)	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: October 1, 2024	by:	/s/ John Thomas
		John Thomas
		Chief Executive Officer, Chief
		Financial Officer, Principal
		Accounting Officer

Cover - shares	6 Months Ended
Cover - shares	Apr. 30, 2024	Sep. 30, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Apr. 30, 2024
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--10-31
Entity File Number	000-51791
Entity Registrant Name	INNOVATIVE DESIGNS, INC.
Entity Central Index Key	0001190370
Entity Tax Identification Number	03-0465528
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	124 Cherry Street
Entity Address, City or Town	Pittsburgh
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	15223
City Area Code	412
Local Phone Number	799-0350
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		37,924,003

CONDENSED BALANCE SHEET - USD ($)	Apr. 30, 2024	Oct. 31, 2023
Current Assets
Cash and Cash Equivalents	$ 241,712	$ 238,677
Accounts Receivable, Net	123,170	31,050
Inventory, Net	523,443	549,276
Other Current Receivables	16,541	8,200
Total Current Assets	904,866	827,203
Long-Term Assets
Property, Plant, and Equipment, Net	21,150	23,479
Deposits on Equipment	652,944	652,944
Total Long-Term Assets	674,094	676,423
Total Assets	1,578,960	1,503,626
Current Liabilities
Credit Cards	72,317	71,659
Accounts Payable	60,646	144,967
Other Current Liabilities	98,847	121,938
Total Current Liabilities	231,810	338,564
Long-Term Liabilities
Notes Payable	42,362	56,429
Total Long-Term Liabilities	42,362	56,429
Total Liabilities	274,172	394,993
Stockholders Equity
Common Stock; $0.0001 par value; 100,000,000 shares authorized; 37,839,003 and 36,532,560 shares issued and outstanding as of April 30, 2024 and October 31, 2023 respectively	3,784	3,653
Paid-In Capital	11,979,124	11,741,935
Retained Earnings (Deficit)	(10,636,955)	(10,335,578)
Net Income (Loss)	(41,165)	(301,377)
Total Stockholders' Equity (Deficit)	1,304,788	1,108,633
Total Liabilities and Stockholders Equity (Deficit)	$ 1,578,960	$ 1,503,626

CONDENSED BALANCE SHEET (Parenthetical) - $ / shares	Apr. 30, 2024	Oct. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	37,839,003	36,532,560
Common stock, shares outstanding	37,839,003	36,532,560

CONDENSED STATEMENT OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
CONDENSED STATEMENT OF OPERATIONS - USD ($)	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Income Statement [Abstract]
Revenues	$ 300,331	$ 27,249	$ 366,217	$ 98,896
Cost of Goods Sold	151,560	13,349	186,384	30,359
Gross Profit	148,771	13,900	179,833	68,537
Operating Expenses	121,040	121,091	206,722	234,974
Income (Loss) from operations	27,731	(107,191)	(26,889)	(166,437)
Other Income (Expenses)
Gain (Loss) on Assets	0	0	0	7,519
Depreciation Expenses	(1,165)	(768)	(2,329)	(1,537)
Interest Expenses	(4,338)	(4,632)	(11,946)	(11,231)
Total other income (expenses)	(5,503)	(5,400)	(14,275)	(5,249)
Net Income (Loss)	$ 22,228	$ (112,591)	$ (41,164)	$ (171,686)
Earnings Per Share - Basic	$ 0.001	$ (0.003)	$ (0.001)	$ (0.005)
Weighted average common shares outstanding	37,459,401	35,177,560	37,834,682	35,177,560
Earnings Per Share - diluted	$ 0.001	$ (0.003)	$ (0.001)	$ (0.005)
Weighted average common shares outstanding	37,461,096	35,908,060	37,834,682	35,908,060

Statements of Change in Stockholder's Equity - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance – January 31,2024 at Oct. 31, 2022	$ 3,467	$ 11,335,184	$ (10,335,579)	$ 1,003,072
Beginning balance, shares at Oct. 31, 2022	34,650,560
Sale of stock	$ 50	109,950		110,000
Sale of stock, shares	500,000
Stock issued for services	$ 3	5,937		5,940
Stock issued for services, shares	27,000
Net Income (Loss)			(59,094)	(59,094)
Balance – April 30, 2024 at Jan. 31, 2023	$ 3,520	11,451,071	(10,394,673)	1,059,918
Ending balance, shares at Jan. 31, 2023	35,177,560
Balance – January 31,2024 at Oct. 31, 2022	$ 3,467	11,335,184	(10,335,579)	1,003,072
Beginning balance, shares at Oct. 31, 2022	34,650,560
Net Income (Loss)				(171,686)
Balance – April 30, 2024 at Apr. 30, 2023	$ 3,520	11,451,071	(10,507,264)	947,327
Ending balance, shares at Apr. 30, 2023	35,177,560
Balance – January 31,2024 at Jan. 31, 2023	$ 3,520	11,451,071	(10,394,673)	1,059,918
Beginning balance, shares at Jan. 31, 2023	35,177,560
Net Income (Loss)			(112,591)	(112,591)
Balance – April 30, 2024 at Apr. 30, 2023	$ 3,520	11,451,071	(10,507,264)	947,327
Ending balance, shares at Apr. 30, 2023	35,177,560
Balance – January 31,2024 at Oct. 31, 2023	$ 3,653	11,741,935	(10,636,955)	1,108,633
Beginning balance, shares at Oct. 31, 2023	36,532,560
Sale of stock	$ 58	105,862		105,920
Sale of stock, shares	580,888
Stock issued for services	$ 67	121,333		121,400
Stock issued for services, shares	670,000
Net Income (Loss)		11,979,124	(63,393)	(63,393)
Balance – April 30, 2024 at Jan. 31, 2024	$ 3,778	11,969,130	(10,700,348)	1,272,560
Ending balance, shares at Jan. 31, 2024	37,783,448
Balance – January 31,2024 at Oct. 31, 2023	$ 3,653	11,741,935	(10,636,955)	1,108,633
Beginning balance, shares at Oct. 31, 2023	36,532,560
Net Income (Loss)				(41,164)
Balance – April 30, 2024 at Apr. 30, 2024	$ 3,784	11,979,124	(10,678,120)	1,304,788
Ending balance, shares at Apr. 30, 2024	37,839,003
Balance – January 31,2024 at Jan. 31, 2024	$ 3,778	11,969,130	(10,700,348)	1,272,560
Beginning balance, shares at Jan. 31, 2024	37,783,448
Sale of stock	$ 6	9,994		10,000
Sale of stock, shares	55,555
Net Income (Loss)			22,228	22,228
Balance – April 30, 2024 at Apr. 30, 2024	$ 3,784	$ 11,979,124	$ (10,678,120)	$ 1,304,788
Ending balance, shares at Apr. 30, 2024	37,839,003

STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	6 Months Ended
STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	Apr. 30, 2024	Apr. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net Loss	$ (41,165)	$ (171,686)
Adjustments to reconcile net loss to net cash used in operating activities
Increase/(Decrease) in Depreciation / Amortization	2,329	1,537
Changes In Operating Assets and Liabilities
Increase in Credit Cards Liabilities	658	0
Increase/(Decrease) Accounts Payables and Other Current Liabilities	(107,412)	68,125
(Increase) / Decrease in Interest and Other Receivables	(92,120)	9,294
(Increase) / Decrease in Inventory	25,834	(133,775)
Decrease in Prepaid Expenses	(8,342)	0
Net Cash Used In Operating Activities	(220,218)	(226,505)
CASH FLOWS FROM INVESTING ACTIVITIES
Increase / (Decrease) in Deposits on Machinery & Equipment	0	19,834
Net Cash Used In Investing Activities	0	19,834
CASH FLOWS FROM FINANCING ACTIVITIES
Issuance of Stock	237,320	115,940
Increase / (Decrease) in Notes Payable	(14,067)	(107,555)
Net Cash Used In Financing Activities	223,253	8,385
Net Increase (Decrease) In Cash	3,035	(198,286)
Cash at the Beginning of the Period	238,677	263,293
Cash at the End of the Period	$ 241,712	$ 65,007

Pay vs Performance Disclosure - USD ($)	3 Months Ended				6 Months Ended
Pay vs Performance Disclosure - USD ($)	Apr. 30, 2024	Jan. 31, 2024	Apr. 30, 2023	Jan. 31, 2023	Apr. 30, 2024	Apr. 30, 2023
Pay vs Performance Disclosure [Table]
Net Income (Loss)	$ 22,228	$ (63,393)	$ (112,591)	$ (59,094)	$ (41,164)	$ (171,686)

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Apr. 30, 2024
Insider Trading Arrangements [Line Items]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

BASIS OF PRESENTATION

6 Months Ended

Apr. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

BASIS OF PRESENTATION

As of April 30, 2024, there have been no material changes in the Company’s significant accounting policies from those that were disclosed in the 2023 Annual Report.

GOING CONCERN

6 Months Ended

Apr. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

GOING CONCERN

ACCOUNTS RECEIVABLE

6 Months Ended

Apr. 30, 2024

Receivables [Abstract]

ACCOUNTS RECEIVABLE

OPENING AND CLOSING BALANCE OF RECEIVABLES

6 Months Ended

Apr. 30, 2024

Opening And Closing Balance Of Receivables

OPENING AND CLOSING BALANCE OF RECEIVABLES

INVENTORY

6 Months Ended

Apr. 30, 2024

Inventory Disclosure [Abstract]

INVENTORY

WARRANTIES

6 Months Ended

Apr. 30, 2024

Warranties

WARRANTIES

NOTES PAYABLE

6 Months Ended

Apr. 30, 2024

Debt Disclosure [Abstract]

NOTES PAYABLE

As of April 30, 2024, all notes payables are up to date.

LOANS

6 Months Ended

Apr. 30, 2024

Loans

LOANS

Loans to the Company, including accrued interest, totaled $47,244 and $147,450 as of January 31, 2024 and 2023, respectively. The loans bear interest between 10% and 12%.

REVENUES

6 Months Ended

Apr. 30, 2024

Revenue from Contract with Customer [Abstract]

REVENUES

EARNINGS PER SHARE

6 Months Ended

Apr. 30, 2024

Earnings Per Share [Abstract]

EARNINGS PER SHARE

10.

EARNINGS PER SHARE

INCOME TAXES

6 Months Ended

Apr. 30, 2024

Income Tax Disclosure [Abstract]

INCOME TAXES

11.

INCOME TAXES

The Company accounts for income taxes in accordance with FASB ASC Topic 740 ”Income Taxes”, which requires an asset and liability approach for financial reporting purposes.

SHIPPING AND HANDLING COSTS

6 Months Ended

Apr. 30, 2024

Shipping And Handling Costs

SHIPPING AND HANDLING COSTS

12.

SHIPPING AND HANDLING COSTS

COMMON STOCK

6 Months Ended

Apr. 30, 2024

Equity [Abstract]

COMMON STOCK

13.

COMMON STOCK

DEPOSITS ON EQUIPMENT

6 Months Ended

Apr. 30, 2024

Deposits On Equipment

DEPOSITS ON EQUIPMENT

14.

DEPOSITS ON EQUIPMENT

Total overall deposits on equipment as of April 30, 2024 and October 31, 2023 were $652,944.

LEASE

6 Months Ended

Apr. 30, 2024

Lease

LEASE

15.

LEASE

LEGAL PROCEEDINGS

6 Months Ended

Apr. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

LEGAL PROCEEDINGS

16.

LEGAL PROCEEDINGS

ADPOTED PRONOUNCEMENT

6 Months Ended

Apr. 30, 2024

Adpoted Pronouncement

ADPOTED PRONOUNCEMENT

17.

ADPOTED PRONOUNCEMENT

The requirements of the following FASB statement were adopted for the Company’s condensed financial statements:

SUBSEQUENT EVENTS

6 Months Ended

Apr. 30, 2024

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

18.

SUBSEQUENT EVENTS

GOING CONCERN (Details Narrative) - USD ($)	6 Months Ended
GOING CONCERN (Details Narrative) - USD ($)	Apr. 30, 2024	Apr. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ (41,165)	$ (171,686)
Accumulated deficit	$ 10,678,120

ACCOUNTS RECEIVABLE (Details Narrative) - USD ($)	Apr. 30, 2024	Jan. 31, 2024
Receivables [Abstract]
Receivable balance	$ 332	$ 0

OPENING AND CLOSING BALANCE OF RECEIVABLES (Details Narrative) - USD ($)	Apr. 30, 2024	Oct. 31, 2023
Opening And Closing Balance Of Receivables
Accounts receivable	$ 123,170	$ 31,050
Accounts receivable	$ 124,450

INVENTORY (Details Narrative) - USD ($)	Apr. 30, 2024	Oct. 31, 2023
Inventory Disclosure [Abstract]
Reserve against apparel inventory	$ 65,600	$ 65,600
Allowance for obsolete inventories	$ 589,043

NOTES PAYABLE (Details Narrative) - USD ($)	1 Months Ended	6 Months Ended
NOTES PAYABLE (Details Narrative) - USD ($)	Dec. 31, 2023	Apr. 30, 2024
Convertible promissory note amount	$ 50,000
Interest rate	6.00%
Secured note	$ 100,000
Conversion price	$ 0.20
U S Small Business Administration [Member]
Interest rate		2.60%
Monthly installments		$ 1,820

LOANS (Details Narrative) - USD ($)	Jan. 31, 2024	Jan. 31, 2023
Loans
Accrued interest	$ 47,244	$ 147,450
Loans bear interest rate	10.00%	12.00%

EARNINGS PER SHARE (Details Narrative) - shares	Apr. 30, 2024	Oct. 31, 2023
Earnings Per Share [Abstract]
Stock of warrants	2,429,443	2,373,888

SHIPPING AND HANDLING COSTS (Details Narrative) - USD ($)	3 Months Ended
	Apr. 30, 2024	Oct. 31, 2023
Shipping And Handling Costs
Shipping and handling costs	$ 19,461	$ 19,444

COMMON STOCK (Details Narrative)	6 Months Ended
COMMON STOCK (Details Narrative)	Apr. 30, 2024 USD ($) $ / shares shares
Eight Investors [Member]
Defined Benefit Plan Disclosure [Line Items]
Shares issued for services \| shares	580,888
Proceeds from sale of stock \| $	$ 105,920
Two Investors [Member]
Defined Benefit Plan Disclosure [Line Items]
Shares issued for services \| shares	670,000
Two Investors [Member] \| Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Share price \| $ / shares	$ 0.18
Two Investors [Member] \| Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Share price \| $ / shares	$ 0.20

DEPOSITS ON EQUIPMENT (Details Narrative) - USD ($)		6 Months Ended	12 Months Ended
DEPOSITS ON EQUIPMENT (Details Narrative) - USD ($)	Jul. 12, 2015	Apr. 30, 2024	Oct. 31, 2023	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Deposits on equipment		$ 652,944	$ 652,944
Separate Piece Of Equipments [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Deposits on equipment		0	29,574			$ 7,370
Remaining balance owed on said equipment		$ 77,000
Ketut Jaya [Member] \| INSULTEX Material [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purchase price machinery and equipment	$ 700,000				$ 500,000
Description of purchase price payment terms		The first installment of $300,000 is to be made at the execution of the agreement. The second installment of $200,000 is to be made when the machinery and equipment is ready to be shipped to the United States. The third installment of $100,000 is to be made once the machinery and equipment is producing INSULTEX, and the fourth and final installment of $100,000 is to be made after the first commercial production run of INSULTEX is completed.
Prepayment for machinery and equipment					100,000
Additional expenses related to equipment					$ 17,000
Shipping costs				$ 17,000
Additional preprepayment for machinery and equipment			$ 16,000

LEASE (Details Narrative)	6 Months Ended
LEASE (Details Narrative)	Apr. 30, 2024
Lease
Interest rate	5.50%
Operation lease description	The Company entered into a lease for office space at the time the Company was formed through June 2022.

LEGAL PROCEEDINGS (Details Narrative)	Jun. 29, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Payment for settlement	$ 260,000

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