Company engaged in marketing and sales of a unique insulated house wrap, Innovative Designs Inc (OTCMKTS:IVDN), confirmed on April 21, 2022, adding Hamshaw Lumber to the retail list. Hamshaw Lumber has now over seven locations after three decades of operations including Barre, MA, Brattleboro, VT,Amherst, MA, South Deerfield, MA, Greenfield, MA, Keene, NH and Orange, MA.
Trading Data
On Thursday, IVDN stock moved down 8.51% to $0.2150 with more than 13K shares, compared to its average volume of 12K shares. The stock moved within a range of $0.1905 – 0.2300 after opening trade at $0.23.
Key Details
Hamshaw Lumber buyer, Chris Calcari said that homeowner and contractor inquired about the Insultex House Wrap. Post research, Calcari was impressed with the energy efficiency offered with the environmental impact. He added that the firm’s first purchase order is in route to the Orange, Massachusetts store.
Innovative Designs CEO, Joseph Riccelli expressed delight in commencing business with Hamshaw Lumber. Joseph added that the coverage in New England area will open opportunities for homebuilders.
Innovative Designs on February 25, 2022, announced that Dr. Donald V. Garlotta has joined Innovative Designs Incorporated as member of Board of Directors. Dr. Garlotta is the Technical Director at Airex Rubber Products Corporation in Portland and Technical Advisor for Innovative Designs Incorporated. Prior to Airex, he had a number of roles as a Polymer Scientist and Analytical Chemist. Mr Garlotta earned a Ph.D. in Polymer Science / Plastics Engineering from University of Massachusetts at Lowell.
Joseph Riccelli, President, and CEO said that the firm is fortunate on having Mr Garlotta join Innovative Designs’ Board of Directors.
Key Quote
Hamshaw Lumber buyer, Chris Calcari, commented, “A contractor and homeowner inquired about the Insultex House Wrap, with an R-Value of 6, at Hamshaw Lumber. After doing research, I was impressed with the energy efficiency it offers along with its environmental impact. Our first purchase order is in route to our Orange, Massachusetts store.” Innovative Designs CEO, Joseph Riccelli, commented, “We are pleased to begin doing business with Hamshaw Lumber. Their coverage in the New England area will open up opportunities for homebuilders and contractors to have easy access to our house wrap.”
Technical Data
IVDN stock is trading below the 20-Day and 50-Day Moving averages of $0.26 and $0.31 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.33.
