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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&#160;</p>




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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif">(Check One)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 55%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large Accelerated Filer&#160;&#9744;</span></td>
<td style="width: 45%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated Filer&#160;&#9744;</span></td></tr>
<tr style="vertical-align: top">
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_edei--EntityFilerCategory_c20211101__20220131" title="Entity Filer Category"><ix:nonNumeric contextRef="From2021-11-01to2022-01-31" format="ixt-sec:entityfilercategoryen" name="dei:EntityFilerCategory">Non-accelerated Filer</ix:nonNumeric></span>&#160;&#9744;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller reporting company&#160;<span id="xdx_900_edei--EntitySmallBusiness_c20211101__20220131_zyuXeL96P5w4"><ix:nonNumeric contextRef="From2021-11-01to2022-01-31" format="ixt:booleantrue" name="dei:EntitySmallBusiness">&#9746;</ix:nonNumeric></span></span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_900_edei--EntityEmergingGrowthCompany_c20211101__20220131_zkaAQJWuNKwd" style="display: none"><ix:nonNumeric contextRef="From2021-11-01to2022-01-31" format="ixt:booleanfalse" name="dei:EntityEmergingGrowthCompany">&#9744;</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif">(Do not check
if a smaller reporting company)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).&#9;YES&#9;&#9744;&#160;&#9;<span id="xdx_905_edei--EntityShellCompany_c20211101__20220131_zhYVjMWJrTZa"><ix:nonNumeric contextRef="From2021-11-01to2022-01-31" format="ixt:booleanfalse" name="dei:EntityShellCompany">NO</ix:nonNumeric></span>&#9;&#9746;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">As
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Transitional
Small Business Disclosure Format:&#9;YES&#9;&#9744;&#9;&#160;NO&#9;&#9746;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

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    <div style="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>INNOVATIVE
DESIGNS, INC.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&#160;</p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Innovative Designs, Inc.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Index</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Form 10-Q for the Quarter Ended January 31, 2022</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 13%; padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt; line-height: 115%"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="width: 68%; padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt; line-height: 115%"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: center; width: 19%; padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt; line-height: 115%"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline">Page No.</span></span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td><span style="font: 10pt Times New Roman, Times, Serif"></span>Part I --</td>
<td><span style="font: 10pt Times New Roman, Times, Serif"> Financial Information</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top; background-color: White">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td><span style="font: 10pt Times New Roman, Times, Serif">Item 1.</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">Condensed Financial Statements (Unaudited)</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top; background-color: White">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><a href="#a_001"><span style="font: 10pt Times New Roman, Times, Serif">Condensed Balance Sheets as of January 31, 2022 (Unaudited)</span></a></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span>4</td></tr>
<tr style="vertical-align: top; background-color: White">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><a href="#a_001"><span style="font: 10pt Times New Roman, Times, Serif">And October 31, 2021, (Audited)</span></a></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"></span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top; background-color: White">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><a href="#a_003"><span style="font: 10pt Times New Roman, Times, Serif">Condensed Statements of Operations for the Three</span></a></td>
<td style="text-align: right">6</td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><a href="#a_003"><span style="font: 10pt Times New Roman, Times, Serif">Month Periods Ended January 31, 2022 and 2021 (Unaudited)</span></a></td>
<td style="text-align: right"></td></tr>
<tr style="vertical-align: top; background-color: White">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><a href="#a_004"><span style="font: 10pt Times New Roman, Times, Serif">Condensed Statements of Changes in Stockholders&#8217; Equity</span></a></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;7</span></td></tr>
<tr style="vertical-align: top; background-color: White">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><a href="#a_004"><span style="font: 10pt Times New Roman, Times, Serif">as of January 31, 2022 (Unaudited) and October 31, 2021,</span></a></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><a href="#a_004"><span style="font: 10pt Times New Roman, Times, Serif">(Audited)</span></a></td>
<td style="text-align: right"></td></tr>
<tr style="vertical-align: top; background-color: White">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><a href="#a_005"><span style="font: 10pt Times New Roman, Times, Serif">Condensed Statements of Cash Flows for the Three Month</span></a></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;8</span></td></tr>
<tr style="vertical-align: top; background-color: White">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><a href="#a_005"><span style="font: 10pt Times New Roman, Times, Serif">Periods Ended January 31, 2022 and 2021 (Unaudited)</span></a></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top; background-color: White">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><a href="#a_006"><span style="font: 10pt Times New Roman, Times, Serif">Notes to the Condensed Financial Statements</span></a></td>
<td style="text-align: right">9<span style="font: 10pt Times New Roman, Times, Serif"> - 14</span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top; background-color: White">
<td><span style="font: 10pt Times New Roman, Times, Serif">Item 2.</span></td>
<td><a href="#a_007"><span style="font: 10pt Times New Roman, Times, Serif">Management&#8217;s Discussion and Analysis of Financial Condition</span></a></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span>15</td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><a href="#a_007"><span style="font: 10pt Times New Roman, Times, Serif">and Results of Operations</span></a></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"></span></td></tr>
<tr style="vertical-align: top; background-color: White">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td><span style="font: 10pt Times New Roman, Times, Serif"></span>Part II -- </td>
<td><span style="font: 10pt Times New Roman, Times, Serif"><a href="#a_014">Other Information</a></span></td>
<td style="text-align: right">18<span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top; background-color: White">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td colspan="2"><span style="font: 10pt Times New Roman, Times, Serif">Items 1, 2, 3, 4 and 4T.</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"></span></td></tr>
<tr style="vertical-align: top; background-color: White">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td><span style="font: 10pt Times New Roman, Times, Serif">Item 6.</span></td>
<td><a href="#a_013"><span style="font: 10pt Times New Roman, Times, Serif">Exhibits</span></a></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">19</span></td></tr>
</table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

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    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->&#160;</p></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;&#160;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="font: 10pt/115% Times New Roman, Times, Serif; padding: 0pt; white-space: nowrap; width: 100%; text-align: center"><span style="font: 10pt/115% Times New Roman, Times, Serif"><b>INNOVATIVE DESIGNS, INC.</b></span></td></tr>
<tr style="vertical-align: bottom">
<td style="font: 10pt/115% Times New Roman, Times, Serif; padding: 0pt; white-space: nowrap; text-align: center"><span style="font: 10pt/115% Times New Roman, Times, Serif"><b><span id="a_001"></span>CONDENSED BALANCE SHEETS</b></span></td></tr>
<tr style="vertical-align: bottom">
<td style="font: 10pt/115% Times New Roman, Times, Serif; padding: 0pt; white-space: nowrap; text-align: center"><span style="font: 10pt/115% Times New Roman, Times, Serif"><b>JANUARY 31, 2022 (UNAUDITED) AND OCTOBER 31, 2021</b></span></td></tr>
</table>


<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" id="xdx_303_111_zdZqbUrcca98" summary="xdx: Statement - CONDENSED BALANCE SHEETS (UNAUDITED)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; font-weight: bold; text-align: left; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_494_20220131" style="text-align: center">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_49B_20211031" style="text-align: center">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">January 31, 2022</td><td style="padding-bottom: 1pt">&#160;</td>
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  <tr id="xdx_406_eus-gaap--AssetsAbstract_iB_z9wB6Ris8Fk6" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_402_eus-gaap--AssetsCurrentAbstract_i01B_z1qd9HaQrnn3" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; font-weight: bold; text-align: left; text-indent: -10pt">CURRENT ASSETS</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_409_eus-gaap--Cash_i02I_maCzR8M_zBkjNvSK5MEd" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr id="xdx_409_eus-gaap--OtherAssetsAbstract_i01B_zGNzYl6zKxDf" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_401_eus-gaap--DepositsOnFlightEquipment_i02I_maCzf1X_zPESm0MghFJ4" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_409_eus-gaap--Assets_i01TI_mtCzESG_zKClgFd1X1Wi" style="vertical-align: bottom; background-color: White">
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  </table>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are an integral part of these condensed financial statements</span></p>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

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<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="font: 10pt/115% Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt; white-space: nowrap; width: 100%; text-align: center"><span style="font: 10pt/115% Times New Roman, Times, Serif"><b>INNOVATIVE DESIGNS, INC.</b></span></td></tr>
<tr style="vertical-align: bottom">
<td style="font: 10pt/115% Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt; white-space: nowrap; text-align: center"><span style="font: 10pt/115% Times New Roman, Times, Serif"><b><span id="a_002"></span>CONDENSED BALANCE SHEETS</b></span></td></tr>
<tr style="vertical-align: bottom">
<td style="font: 10pt/115% Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt; white-space: nowrap; text-align: center"><span style="font: 10pt/115% Times New Roman, Times, Serif"><b>JANUARY 31, 2022 (UNAUDITED) AND OCTOBER 31, 2021</b></span></td></tr>
</table>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;</span></p>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">January 31, 2022</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">October 31, 2021</td></tr>
  <tr id="xdx_406_eus-gaap--LiabilitiesAndStockholdersEquityAbstract_iB_z1AjqC3KkTB" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td colspan="9" style="font-weight: bold; text-align: center; padding-left: 0.45pt">LIABILITIES AND STOCKHOLDERS' EQUITY</td></tr>
  <tr id="xdx_400_eus-gaap--LiabilitiesCurrentAbstract_i01B_z1R13ecCpw4j" style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_404_eus-gaap--AccountsPayableCurrent_i02I_maCzTSi_za3Vag5OCH79" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_406_eus-gaap--InterestPayableCurrent_i02I_maCzTSi_z8f1uvDYcF6" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_406_eus-gaap--AdditionalPaidInCapitalCommonStock_i02I_maCzxAP_zbt0RbrAOJKf" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_404_eus-gaap--RetainedEarningsAccumulatedDeficit_i02I_maCzxAP_zEmtb9uQUgca" style="vertical-align: bottom; background-color: White">
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  <tr id="xdx_40C_eus-gaap--StockholdersEquity_i02TI_mtCzxAP_maCztZ9_z1mYbfEyfPZf" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_402_eus-gaap--LiabilitiesAndStockholdersEquity_iTI_mtCztZ9_zmTC1HcNwVni" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are an integral part of these condensed financial statements</span></p>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

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<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center">&#160;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="font: 10pt/115% Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt; white-space: nowrap; width: 100%; text-align: center"><span style="font: 10pt/115% Times New Roman, Times, Serif"><b>INNOVATIVE DESIGNS, INC.</b></span></td></tr>
<tr style="vertical-align: bottom">
<td style="font: 10pt/115% Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt; white-space: nowrap; text-align: center"><span style="font: 10pt/115% Times New Roman, Times, Serif"><b><span id="a_003"></span>CONDENSED STATEMENTS OF OPERATIONS</b></span></td></tr>
<tr style="vertical-align: bottom">
<td style="font: 10pt/115% Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt; white-space: nowrap; text-align: center"><span style="font: 10pt/115% Times New Roman, Times, Serif"><b>THREE MONTHS PERIODS ENDED JANURARY 31, 2022 AND 2021 (UNAUDITED)</b></span></td></tr>
</table>


<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center">&#160;</p>

<table cellpadding="0" cellspacing="0" id="xdx_30C_113_zrs6B41xpxj9" summary="xdx: Statement - CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED)" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td id="xdx_49F_20211101_20220131" style="text-align: center">&#160;</td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td id="xdx_499_20201101__20210131_zpbbeyuLrUB8" style="text-align: center">&#160;</td>
<td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="7" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Three Months Ended January 31,</span></td></tr>
<tr style="vertical-align: bottom">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">2022</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">2021</span></td></tr>
<tr style="vertical-align: bottom">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40D_eus-gaap--Revenues_maCzGwr_z7fWIh8O76Fb" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">REVENUES - NET</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 8%"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:Revenues" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">62,400</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 8%"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:Revenues" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">40,017</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_403_eus-gaap--OperatingExpensesAbstract_iB_z6SpuxcQURH1" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: bold 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>OPERATING
EXPENSES:</b></span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_403_eus-gaap--CostOfRevenue_i01_maCztSi_zGWnmecBJIne" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Cost of sales</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:CostOfRevenue" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">32,346</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:CostOfRevenue" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">18,635</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_403_eus-gaap--SellingGeneralAndAdministrativeExpense_i01_maCztSi_zDElkYj2bjvh" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Selling, general and administrative expenses</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:SellingGeneralAndAdministrativeExpense" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">150,618</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:SellingGeneralAndAdministrativeExpense" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">81,210</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40A_eus-gaap--OperatingExpenses_i01T_mtCztSi_msCzGwr_zpIaljLqXj5h" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Total Operating Expenses</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:OperatingExpenses" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">182,964</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:OperatingExpenses" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">99,845</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40D_eus-gaap--OperatingIncomeLoss_iT_mtCzGwr_maCzLQz_zzubli1Q85Id" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">LOSS FROM OPERATIONS</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:OperatingIncomeLoss" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">120,564</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:OperatingIncomeLoss" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">59,828</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_400_eus-gaap--NonoperatingIncomeExpenseAbstract_iB_zevZnW1bkqTh" style="vertical-align: bottom; background-color: White">
<td style="font: bold 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>OTHER
INCOME (EXPENSE)</b></span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_400_ecustom--MiscellaneousIncomeExpense_i01_d0_maCzXto_zfDQeBMH9n38" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Miscellaneous income (expense)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="ivdn:MiscellaneousIncomeExpense" contextRef="From2021-11-01to2022-01-31" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="ivdn:MiscellaneousIncomeExpense" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">28,823</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40A_eus-gaap--InterestExpense_i01N_di_msCzXto_zo6QB2AaOcO3" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Interest expense</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:InterestExpense" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">11,476</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:InterestExpense" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">4,960</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td></tr>
<tr id="xdx_408_eus-gaap--NonoperatingIncomeExpense_i01T_mtCzXto_maCzLQz_zF5oh9Zg3Vpb" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Total other income (expense)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:NonoperatingIncomeExpense" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">11,476</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:NonoperatingIncomeExpense" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">23,863</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_409_eus-gaap--NetIncomeLoss_iT_mtCzLQz_zejZZuwbjWnf" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">NET LOSS</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:NetIncomeLoss" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">132,040</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
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<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40C_eus-gaap--EarningsPerShareBasicAbstract_iB" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_401_eus-gaap--EarningsPerShareBasic_i01_pdd" style="vertical-align: bottom; background-color: White">
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<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
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<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
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<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:EarningsPerShareBasic" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="INF" sign="-" unitRef="USDPShares">0.001</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_409_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_i01_pdd" style="vertical-align: bottom; background-color: White">
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<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">31,261,560</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_404_eus-gaap--EarningsPerShareAbstract_iB_zJZaBiH5V04a" style="vertical-align: bottom; background-color: White">
<td style="font: bold 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PER
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<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40D_eus-gaap--EarningsPerShareDiluted_i01_pdd" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Net Loss Per Common Share</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:EarningsPerShareDiluted" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="INF" sign="-" unitRef="USDPShares">0.004</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:EarningsPerShareDiluted" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="INF" sign="-" unitRef="USDPShares">0.001</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_404_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_i01_zYNTFMQhcFt" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Weighted Average Number of Common Shares Outstanding</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">34,884,560</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
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<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
</table>


<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are an integral part of these condensed financial statements.</span></p>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

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<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="font: 10pt/115% Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt; white-space: nowrap; width: 100%; text-align: center"><span style="font: 10pt/115% Times New Roman, Times, Serif"><b>INNOVATIVE DESIGNS, INC.</b></span></td></tr>
<tr style="vertical-align: bottom">
<td style="font: 10pt/115% Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt; white-space: nowrap; text-align: center"><span style="font: 10pt/115% Times New Roman, Times, Serif"><b><span id="a_004"></span>CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS&#8217; EQUITY</b></span></td></tr>
<tr style="vertical-align: bottom">
<td style="font: 10pt/115% Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt; white-space: nowrap; text-align: center"><span style="font: 10pt/115% Times New Roman, Times, Serif"><b>THREE MONTHS PERIODS ENDED JANUARY 31, 2022 AND 2021 (UNAUDITED)</b></span></td></tr>
</table>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<table cellpadding="0" cellspacing="0" id="xdx_30D_114_zMDOdLs3Wzrf" summary="xdx: Statement - CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDER&apos;S EQUITY (UNAUDITED)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td id="xdx_4BB_us-gaap--StatementEquityComponentsAxis_us-gaap--RetainedEarningsMember_zVWfuAuPEwzj" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
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    <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Shares</td><td style="padding-bottom: 1pt">&#160;</td>
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  <tr style="vertical-align: bottom">
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    <td style="padding: 0pt 0pt 0pt 10pt; width: 40%; text-indent: -10pt">Balance at October 31, 2021</td><td style="width: 2%">&#160;</td>
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<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are an integral part of these condensed financial statements.&#160;</span></p>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

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<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="font: 10pt/115% Times New Roman, Times, Serif; padding: 0pt; text-align: center; white-space: nowrap; width: 100%"><span style="font: 10pt/115% Times New Roman, Times, Serif"><b>INNOVATIVE DESIGNS, INC.</b></span></td></tr>
<tr style="vertical-align: bottom">
<td style="font: 10pt/115% Times New Roman, Times, Serif; padding: 0pt; text-align: center; white-space: nowrap"><span style="font: 10pt/115% Times New Roman, Times, Serif"><b><span id="a_005"></span>CONDENSED STATEMENTS OF CASH FLOWS</b></span></td></tr>
<tr style="vertical-align: bottom">
<td style="font: 10pt/115% Times New Roman, Times, Serif; padding: 0pt; text-align: center; white-space: nowrap"><span style="font: 10pt/115% Times New Roman, Times, Serif"><b>THREE MONTHS ENDED JANUARY 31, 2022 AND 2021 (UNAUDITED)</b></span></td></tr>
</table>


<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center">&#160;</p>

<table cellpadding="0" cellspacing="0" id="xdx_305_112_z24rkP5bT5Tg" summary="xdx: Statement - CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED)" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">&#160;</td>
<td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td>
<td id="xdx_491_20211101__20220131_zPuJWnaSuDa4" style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td>
<td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td>
<td id="xdx_493_20201101__20210131_zjmGEZJu6Qnj" style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="7" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">For the Three Month Periods</span></td></tr>
<tr style="vertical-align: bottom">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="7" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Ended</span></td></tr>
<tr style="vertical-align: bottom">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">January 31, 2022</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">January 31, 2021</span></td></tr>
<tr id="xdx_403_eus-gaap--NetCashProvidedByUsedInOperatingActivitiesAbstract_iB_zVEh3M3L0eme" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: bold 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CASH
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<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40E_eus-gaap--ProfitLoss_i01_maCzKyf_zbOZOWbVNJW9" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Net loss</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 8%"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
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<td style="font: 10pt Times New Roman, Times, Serif; width: 8%"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
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<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_401_eus-gaap--IssuanceOfStockAndWarrantsForServicesOrClaims_i02_maCzKyf_zIWlJjzk1mf2" style="vertical-align: bottom; background-color: White">
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<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
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<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
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<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40E_eus-gaap--Depreciation_i02_maCzKyf_zwUQY0m9Mfhd" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Depreciation</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:Depreciation" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">373</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:Depreciation" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">8,327</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40F_eus-gaap--FinanceLeaseRightOfUseAssetAmortization_i02_maCzKyf_zSJ30yUNfPhh" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Amortization of right of use asset</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:FinanceLeaseRightOfUseAssetAmortization" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">10,031</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:FinanceLeaseRightOfUseAssetAmortization" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">9,495</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40A_eus-gaap--IncreaseDecreaseInOperatingAssetsAbstract_i01B_zPLQV7bsA6Ah" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: bold 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Increase)
decrease from changes in:</b></span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_401_eus-gaap--IncreaseDecreaseInAccountsReceivable_i02N_di_msCzKyf_zHYD3rKsSwnk" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Accounts receivable</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInAccountsReceivable" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">8,282</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInAccountsReceivable" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">8,698</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td></tr>
<tr id="xdx_40E_eus-gaap--IncreaseDecreaseInInventories_i02N_di_msCzKyf_zVuYttDnUmzk" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Inventory</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInInventories" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">5,686</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:IncreaseDecreaseInInventories" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">14,777</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40F_eus-gaap--IncreaseDecreaseInDeposits_i02_d0_maCzKyf_zDCWm1aDQeV5" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Deposits on inventory</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInDeposits" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">30,000</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:IncreaseDecreaseInDeposits" contextRef="From2020-11-012021-01-31" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_409_eus-gaap--IncreaseDecreaseInOperatingAssetsAbstract_i01B_ztHve60HOWzh" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: bold 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Increase
(decrease) from changes in:</b></span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40B_eus-gaap--IncreaseDecreaseInAccountsPayable_i02_maCzKyf_zqQRekC61b19" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Accounts payable</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:IncreaseDecreaseInAccountsPayable" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">9,672</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInAccountsPayable" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">36,500</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td></tr>
<tr id="xdx_404_eus-gaap--IncreaseDecreaseInOperatingLeaseLiability_i02_maCzKyf_zgErwyCeAzIa" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Lease liability</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInOperatingLeaseLiability" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">10,031</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInOperatingLeaseLiability" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">9,495</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td></tr>
<tr id="xdx_401_eus-gaap--IncreaseDecreaseInInterestPayableNet_i02_maCzKyf_zkzfrQFdWjz5" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Accrued interest expense</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInInterestPayableNet" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">3,389</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInInterestPayableNet" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">3,840</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td></tr>
<tr id="xdx_406_eus-gaap--IncreaseDecreaseInOtherAccruedLiabilities_i02_d0_maCzKyf_z3qs7b5P0tDl" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Accrued expenses</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInOtherAccruedLiabilities" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">15,508</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:IncreaseDecreaseInOtherAccruedLiabilities" contextRef="From2020-11-012021-01-31" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_405_eus-gaap--NetCashProvidedByUsedInOperatingActivities_i01T_mtCzKyf_maCzWnU_zxRP9AGvIElf" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Net cash used in operating activities</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:NetCashProvidedByUsedInOperatingActivities" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">174,860</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:NetCashProvidedByUsedInOperatingActivities" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">36,899</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40B_eus-gaap--NetCashProvidedByUsedInInvestingActivitiesAbstract_iB_zeHq4cUmI2L4" style="vertical-align: bottom; background-color: White">
<td style="font: bold 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CASH
FLOWS FROM INVESTING ACTIVITIES</b></span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40A_eus-gaap--NetCashProvidedByUsedInInvestingActivities_i01T_d0_maCzWnU_zpLSEDSg2ah9" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Net cash used in investing activities</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:NetCashProvidedByUsedInInvestingActivities" contextRef="From2021-11-01to2022-01-31" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:NetCashProvidedByUsedInInvestingActivities" contextRef="From2020-11-012021-01-31" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40D_eus-gaap--NetCashProvidedByUsedInFinancingActivitiesAbstract_iB_zYz8YUfRIgy5" style="vertical-align: bottom; background-color: White">
<td style="font: bold 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CASH
FLOWS FROM FINANCING ACTIVITIES:</b></span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_401_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_i01_d0_maCzcQD_zkgaY7pmnqQj" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Proceeds from sale of stock</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOrSaleOfEquity" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">61,000</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOrSaleOfEquity" contextRef="From2020-11-012021-01-31" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_402_eus-gaap--ProceedsFromRelatedPartyDebt_i01_d0_maCzcQD_ziv1Nx1Ch1E9" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Proceeds from stockholder advances</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:ProceedsFromRelatedPartyDebt" contextRef="From2021-11-01to2022-01-31" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:ProceedsFromRelatedPartyDebt" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">200,000</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_401_eus-gaap--RepaymentsOfRelatedPartyDebt_i01N_di0_msCzcQD_zRZPd5O8NpCe" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Payments on stockholder advances</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:RepaymentsOfRelatedPartyDebt" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">76,666</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:RepaymentsOfRelatedPartyDebt" contextRef="From2020-11-012021-01-31" format="ixt:zerodash" decimals="0" sign="-" unitRef="USD">&#8212;</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_404_eus-gaap--RepaymentsOfNotesPayable_i01N_di0_msCzcQD_zU7qS2Y2EeQ5" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Payments on notes payable</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:RepaymentsOfNotesPayable" contextRef="From2021-11-01to2022-01-31" format="ixt:zerodash" decimals="0" sign="-" unitRef="USD">&#8212;</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:RepaymentsOfNotesPayable" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,819</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td></tr>
<tr id="xdx_404_eus-gaap--NetCashProvidedByUsedInFinancingActivities_i01T_mtCzcQD_maCzWnU_zXV8TAFuqKXh" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Net cash provided by financing activities</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:NetCashProvidedByUsedInFinancingActivities" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">15,666</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:NetCashProvidedByUsedInFinancingActivities" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">198,181</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_400_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_pp0p0_mtCzWnU_zI2dreqKebO1" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Net change in cash</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">190,526</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">161,282</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_405_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iS_pp0p0_zRX8iP6dhT74" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">CASH, BEGINNING OF PERIOD</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" contextRef="AsOf2021-10-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">480,451</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" contextRef="AsOf2020-10-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">48,009</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40F_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iE_ztpM5Q2WzPFb" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">CASH, END OF THE PERIOD</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" contextRef="AsOf2022-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">289,925</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
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<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
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<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
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<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
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<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
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<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
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<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
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<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are an integral part of these condensed financial statements.&#160;</span></p>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>INNOVATIVE DESIGNS, INC.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span id="a_006"></span>NOTES TO THE CONDENSED FINANCIAL STATEMENTS</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="text-decoration: underline">Three Month Periods Ended January 31, 2022 and 2021
(Unaudited)</span></p>

<ix:nonNumeric contextRef="From2021-11-01to2022-01-31" escape="true" name="us-gaap:BasisOfAccounting"><p id="xdx_80D_eus-gaap--BasisOfAccounting_zDWGNY39cc5i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 60px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 1.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_82A_zDXjHZ5o9oqe">BASIS OF PRESENTATION</span></span></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">In the opinion of management, the accompanying
unaudited condensed financial statements contain all adjustments necessary to present fairly Innovative Designs, Inc.&#8217;s financial
position as of January 31, 2022, the changes therein for the three periods then ended and the results of operations for the three periods
ended January, 2022 and 2021.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">The condensed financial statements included
in the Form 10-Q are presented in accordance with the requirements of the Form and do not include all of the disclosures required by accounting
principles generally accepted in the United States of America. For additional information, reference is made to the Innovative Designs,
Inc.&#8217;s annual report on Form 10-K for the fiscal year ended October 31, 2021. The results of operations for the three periods ended
January, 2022 and 2021 are not necessarily indicative of operating results for the full year.</p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-11-01to2022-01-31" escape="true" name="ivdn:RightOfUseAssetsAndLeaseLiabilitiesTextBlock"><p id="xdx_801_ecustom--RightOfUseAssetsAndLeaseLiabilitiesTextBlock_zLjzonbGtYFg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 60px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 2.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_826_zBZlNwRH9wB2">RIGHT OF USE ASSETS AND LEASE LIABILITIES</span></span></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">During the quarter ended April 30, 2019,
the Company implemented Accounting Standards Update 2016-02, Leases. Under the new guidance, a lessee must be recorded a liability for
lease payments (referred to as the lease liability) and an asset for the right to use the leased asset during the lease term (referred
to at the right of use asset) for all leases, regardless of whether they are designated as finance or operating leases. This election
requires the lessee to recognize lease expense on a straight-line basis over the lease term. The right of use assets and corresponding
right of use liabilities have been recorded using the present value of the leases. See Notes 11 and 12 within the condensed financial
statements for additional disclosure on leases.</p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-11-01to2022-01-31" escape="true" name="us-gaap:SubstantialDoubtAboutGoingConcernTextBlock"><p id="xdx_805_eus-gaap--SubstantialDoubtAboutGoingConcernTextBlock_zxpd4TA8E8ei" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 60px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 3.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_82F_zq9JP1n4iXEe">GOING CONCERN</span></span></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">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 ($<span id="xdx_90F_eus-gaap--NetIncomeLoss_iN_pp0p0_di_c20211101__20220131_z5IYzatVotC" title="Net loss"><ix:nonFraction name="us-gaap:NetIncomeLoss" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">132,040</ix:nonFraction></span>) and a negative cash flow from operations of ($<span id="xdx_90B_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pp0p0_di_c20211101__20220131_zZx1f1oqgcqg"><ix:nonFraction name="us-gaap:NetCashProvidedByUsedInOperatingActivities" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">174,860</ix:nonFraction></span>) for
the three month period ended January 31, 2022. In addition, the Company has an accumulated deficit of ($<span id="xdx_90E_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pp0p0_di_c20220131_zelYSDzbwEr6" title="Accumulated deficit"><ix:nonFraction name="us-gaap:RetainedEarningsAccumulatedDeficit" contextRef="AsOf2022-01-31" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">10,242,130</ix:nonFraction></span>). Management&#8217;s
plans include cash receipts through sales, sales of Company stock, and borrowings from private parties. These factors raise substantial
doubt regarding the Company&#8217;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.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

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<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 60px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 4.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_821_zko9PZcySM1d">ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS</span></span></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">Management 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 of $<span id="xdx_90E_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iI_pp0p0_c20220131_zwzWhrZs81Eb" title="Allowance for doubtful accounts"><span id="xdx_909_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iI_pp0p0_c20211031_zSvArGzu7NM8" title="Allowance for doubtful accounts"><ix:nonFraction name="us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent" contextRef="AsOf2022-01-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD"><ix:nonFraction name="us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent" contextRef="AsOf2021-10-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">5,860</ix:nonFraction></ix:nonFraction></span></span> January 31, 2022 and October 31, 2021, respectively. Management has applied an allowance on
all balances in excess of 90 days.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

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<ix:exclude><p id="xdx_234_z4dwYouurpO9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_23C_z1UeQVigFdqc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>INNOVATIVE DESIGNS, INC.</b></p></ix:exclude>

<ix:exclude><p id="xdx_232_zk6sADoVZnRi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_234_zlMYBCyO3bx7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOTES TO THE CONDENSED FINANCIAL STATEMENTS</p></ix:exclude>

<ix:exclude><p id="xdx_232_zuPxNtEY2Oc7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="text-decoration: underline">Three Month Periods Ended January 31, 2022 and 2021
(Unaudited)</span></p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-11-01to2022-01-31" escape="true" name="us-gaap:InventoryDisclosureTextBlock"><p id="xdx_809_eus-gaap--InventoryDisclosureTextBlock_zvIIifQA8Cl4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 60px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 5.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_829_zJjLxIHnUmZ6">INVENTORY</span></span></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">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 discontinued the manufacturing of its hunting and swimming line of apparel. The Company
has booked a reserve against apparel inventory at January 31, 2022 and October 31, 2021 of $<span id="xdx_905_eus-gaap--InventoryValuationReserves_iI_pp0p0_c20220131_zciXDgKk3Lz3" title="Inventory Valuation Reserves"><span id="xdx_904_eus-gaap--InventoryValuationReserves_iI_pp0p0_c20211031_zRWornDXDhJc" title="Inventory Valuation Reserves"><ix:nonFraction name="us-gaap:InventoryValuationReserves" contextRef="AsOf2022-01-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD"><ix:nonFraction name="us-gaap:InventoryValuationReserves" contextRef="AsOf2021-10-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">75,468</ix:nonFraction></ix:nonFraction></span></span>. Management has determined that no
allowance is currently necessary on their House Wrap Inventory. Management will continue to evaluate its obsolete inventory reserve throughout
the year and make adjustments as needed.</p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-11-01to2022-01-31" escape="true" name="us-gaap:EarningsPerShareTextBlock"><p id="xdx_805_eus-gaap--EarningsPerShareTextBlock_zYedPlohl3F5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 60px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 6.</span></td>
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  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">The Company calculates net income (loss)
per share in accordance with Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting Standard Codification (&#8220;ASC&#8221;)
Topic 260&#160;<i>&#8221;Earnings per Share&#8221;</i>. 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 <span id="xdx_904_eus-gaap--AdjustmentsToAdditionalPaidInCapitalWarrantIssued_c20211101__20220131_zAvd24TJeA53" title="Stock of warrants"><ix:nonFraction name="us-gaap:AdjustmentsToAdditionalPaidInCapitalWarrantIssued" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,254,000</ix:nonFraction></span> and <span id="xdx_906_eus-gaap--AdjustmentsToAdditionalPaidInCapitalWarrantIssued_c20201101__20210131_zzD32Rvza8I7" title="Stock of warrants"><ix:nonFraction name="us-gaap:AdjustmentsToAdditionalPaidInCapitalWarrantIssued" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">240,000</ix:nonFraction></span> as
of January 31, 2022 and 2021, respectively. The Company has calculated diluted earnings per share utilizing the outstanding stock warrants
and convertible debt.</p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-11-01to2022-01-31" escape="true" name="us-gaap:IncomeTaxDisclosureTextBlock"><p id="xdx_807_eus-gaap--IncomeTaxDisclosureTextBlock_zKhlaGohsqL6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 60px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 7.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_826_zabuJdrcLMF7">INCOME TAXES</span></span></span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">The Company accounts for income taxes in
accordance with ASC Topic 740&#160;<i>&#8221;Income Taxes&#8221;</i>, which requires an asset and liability approach for financial reporting
purposes.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">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.</p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-11-01to2022-01-31" escape="true" name="ivdn:ShippingAndHandlingCostsTextBlock"><p id="xdx_801_ecustom--ShippingAndHandlingCostsTextBlock_zWccNOpv10E5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 60px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 8.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_82C_zrH7wQXDFdb6">SHIPPING AND HANDLING COSTS</span></span></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">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 $<span id="xdx_90B_ecustom--ShippingAndHandlingCosts_c20211101__20220131_pp0p0" title="Shipping and handling costs"><ix:nonFraction name="ivdn:ShippingAndHandlingCosts" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">8,647</ix:nonFraction></span> and $<span id="xdx_90C_ecustom--ShippingAndHandlingCosts_pp0p0_c20201101__20210131_zM7xTUJcgAch" title="Shipping and handling costs"><ix:nonFraction name="ivdn:ShippingAndHandlingCosts" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">3,007</ix:nonFraction></span> for the three month periods ended January 31, 2022 and 2021, respectively.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<ix:exclude><!-- Field: Page; Sequence: 10; Value: 1 -->
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<ix:exclude><p id="xdx_230_zaGFe3IBPLY7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_23F_zJ6poFGq8k4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>INNOVATIVE DESIGNS, INC.</b></p></ix:exclude>

<ix:exclude><p id="xdx_23B_zFHssxrG0DS1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_238_zy1zw6bglk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOTES TO THE CONDENSED FINANCIAL STATEMENTS&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_238_zxpJpaeB4XC6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="text-decoration: underline">Three Month Periods Ended January 31, 2022 and 2021
(Unaudited)</span></p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-11-01to2022-01-31" escape="true" name="us-gaap:StockholdersEquityNoteDisclosureTextBlock"><p id="xdx_804_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zYqW6AYyFYo5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 60px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 9.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_82E_zj3pPeqasiW4">COMMON STOCK</span></span></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">During the three month period ended January
31, 2022, the Company sold <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20211101__20220131__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiveInvestorsMember_zvIYqtcQEX56" title="Number of shares issued during the period"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2021-11-012022-01-31_custom_FiveInvestorsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">340,000</ix:nonFraction></span> shares of common stock to five investors for total proceeds of $<span id="xdx_907_eus-gaap--ProceedsFromIssuanceOfCommonStock_c20211101__20220131_pp0p0" title="Proceeds from Issuance of Common Stock"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfCommonStock" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">61,000</ix:nonFraction></span> and issued <span id="xdx_904_eus-gaap--ProceedsFromIssuanceOfCommonStock_pp0p0_c20211101__20220131__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--OneInvestorsMember_zmT3J02Iq7mh" title="Proceeds from Issuance of Common Stock"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfCommonStock" contextRef="From2021-11-012022-01-31_custom_OneInvestorsMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">50,000</ix:nonFraction></span> shares to
one investor for services. The stock was issued between $<span id="xdx_90C_eus-gaap--SharePrice_iI_c20220131__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiveInvestorsMember__srt--RangeAxis__srt--MinimumMember_z72M6lz9Rn9g" title="Share price (in dollars per share)"><ix:nonFraction name="us-gaap:SharePrice" contextRef="AsOf2022-01-31_custom_FiveInvestorsMember_srt_MinimumMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.17</ix:nonFraction></span> and $<span id="xdx_903_eus-gaap--SharePrice_iI_c20220131__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiveInvestorsMember__srt--RangeAxis__srt--MaximumMember_zfdAR4oTIfZ6" title="Share price (in dollars per share)"><ix:nonFraction name="us-gaap:SharePrice" contextRef="AsOf2022-01-31_custom_FiveInvestorsMember_srt_MaximumMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.25</ix:nonFraction></span> per share.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">During the three month period ended January
31, 2021, the Company sold <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20201101__20210131__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--OneInvestorMember_zWCUCaLKReHc" title="Number of shares issued during the period"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2020-11-012021-01-31_custom_OneInvestorMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">100,000</ix:nonFraction></span> shares of common stock to one investors for total proceeds of $<span id="xdx_901_eus-gaap--ProceedsFromIssuanceOfCommonStock_pp0p0_c20201101__20210131_zOlUGgvQ8sFe" title="Proceeds from Issuance of Common Stock"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfCommonStock" contextRef="From2020-11-012021-01-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">25,000</ix:nonFraction></span>. The stock was issued for $<span id="xdx_906_eus-gaap--SharePrice_iI_c20210131__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--OneInvestorsMember_zByxWS1O4DIc" title="Share price (in dollars per share)"><ix:nonFraction name="us-gaap:SharePrice" contextRef="AsOf2021-01-31_custom_OneInvestorsMember" decimals="INF" unitRef="USDPShares">.25</ix:nonFraction></span>
per share.</p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-11-01to2022-01-31" escape="true" name="ivdn:DepositsOnEquipmentTextBlock"><p id="xdx_806_ecustom--DepositsOnEquipmentTextBlock_zs21Hg9vD1Tg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 60px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 10.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_82D_zFzOlzoI5dy9">DEPOSITS ON EQUIPMENT</span></span></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">On July 12, 2015 the Company reached an agreement
with Ketut Jaya to purchase the machinery and equipment utilized to produce the INSULTEX material. <span id="xdx_90B_eus-gaap--DepositContractsDescriptionOfAssetContracts_c20150701__20150712_z6EomwWmVWd3" title="Description of assets contract"><ix:nonNumeric contextRef="From2015-07-012015-07-12" name="us-gaap:DepositContractsDescriptionOfAssetContracts">The purchase price is $700,000 which
was to be paid in four installments. The first installment of $300,000 was to be paid at the execution of the agreement. The second installment
of $200,000 was to be paid when the machinery and equipment is ready to be shipped to the United States. The third installment of $100,000
is to be paid 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.</ix:nonNumeric></span> The Company has made payments of $<span id="xdx_90A_ecustom--DepositsOnEquipment_c20220131_pp0p0" title="Deposits on equipment"><ix:nonFraction name="ivdn:DepositsOnEquipment" contextRef="AsOf2022-01-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">500,000</ix:nonFraction></span> in accordance with the agreement
and made a $<span id="xdx_901_ecustom--AdvancedPaymentOnMachine_c20220131_pp0p0" title="Advanced payment on machine"><ix:nonFraction name="ivdn:AdvancedPaymentOnMachine" contextRef="AsOf2022-01-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">100,000</ix:nonFraction></span> pre-payment as the machine is not yet producing INSULTEX. Additionally, the Company has incurred $<span id="xdx_901_ecustom--ShippingSiteImprovementsAndInstallationEquipmentExpenses_c20211101__20220131_pp0p0" title="Shipping, site improvements and installation of the equipment expenses"><ix:nonFraction name="ivdn:ShippingSiteImprovementsAndInstallationEquipmentExpenses" contextRef="From2021-11-01to2022-01-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">17,000</ix:nonFraction></span> of additional
expenses related to shipping, site improvements and installation of the equipment. Due to various environmental regulations regarding
propane emitted from the machine into the air and other costs to assemble the machine the Company expects to incur costs in excess of
the current deposit agreement. Management of the Company currently cannot reasonably estimate the costs. During the six month period ended
April 30, 2019 Management decided to sell the machine. The shipping and other purchase costs associated with the purchase of the machine
that were originally capitalized as part of the machine cost that were written off. The total loss on impairment for the six month period
ended April 30, 2019 was $<span id="xdx_905_eus-gaap--AssetImpairmentCharges_pp0p0_c20181101__20190430_zyUDtcxAhDB4" title="Loss on impairment"><ix:nonFraction name="us-gaap:AssetImpairmentCharges" contextRef="From2018-11-012019-04-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">17,000</ix:nonFraction></span>. In July 2021, management has decided that it is no longer selling this equipment and is moving forward
with plans of putting it in service in the future.</p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-11-01to2022-01-31" escape="true" name="ivdn:RightOfUseAssetsOperatingLeaseTextBlock"><p id="xdx_801_ecustom--RightOfUseAssetsOperatingLeaseTextBlock_zz2W94GXUKPj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 45pt; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 60px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 11.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_82C_zn7VgVlFsDtd">RIGHT OF USE ASSETS &#8211; OPERATING LEASE</span></span></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 45pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">The Company entered into a month to month
verbal lease at the time the Company was formed that is classified as right of use asset and lease liability. The lease for the Company&#8217;s
office space is estimated to be through June 2022. In accordance with ASU 2016-02, the Company calculated the present value of the leases
using the average commercial real estate interest rate of <span id="xdx_90F_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_dp_c20220131_zZuks2IcQhRe" title="Average commercial real estate interest rate"><ix:nonFraction name="us-gaap:OperatingLeaseWeightedAverageDiscountRatePercent" contextRef="AsOf2022-01-31" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">5.50</ix:nonFraction></span>% at the commencement of the office lease. Applying the commercial rate,
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<ix:exclude><!-- Field: Page; Sequence: 11; Value: 1 -->
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<ix:exclude><p id="xdx_23C_zVyo6XF9Lnac" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_235_ziDAi2bk8kw4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>INNOVATIVE DESIGNS, INC.</b></p></ix:exclude>

<ix:exclude><p id="xdx_235_zcGDd9TWsxfa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_230_z6CZaKI1VsF5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOTES TO THE CONDENSED FINANCIAL STATEMENTS&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_239_ztzyQtJ42UVe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="text-decoration: underline">Three Month Periods Ended January 31, 2022 and 2021
(Unaudited)</span></p></ix:exclude>

<ix:exclude><p id="xdx_237_zn74mGPqDTxf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p></ix:exclude>

<ix:exclude><table cellspacing="0" cellpadding="0" id="xdx_238_zDWU6UpOvBza" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 60px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 11.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">RIGHT OF USE ASSETS &#8211; OPERATING LEASE (CONTINUED)</span></span></td></tr>
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<ix:exclude><p id="xdx_234_zE6ZlIuzmSFh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 45pt; text-align: justify">&#160;</p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">As of January 31, 2022, the right of use
assets associated with future operating lease is as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="From2021-11-01to2022-01-31" escape="true" name="ivdn:RightOfUseAssetsAssociatedWithFutureOperatingLeasesTableTextBlock"><table cellpadding="0" cellspacing="0" id="xdx_896_ecustom--RightOfUseAssetsAssociatedWithFutureOperatingLeasesTableTextBlock_zUkSoqsFnIG9" summary="xdx: Disclosure - RIGHT OF USE ASSETS (Details)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span id="xdx_8B2_zwBRGHq06sDh" style="display: none">Right of use assets associated with future operating leases</span></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; width: 70%; text-align: left; text-indent: -10pt">Total present value of right of use asset under lease agreement</td><td style="width: 10%">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Less current portion due within one year</td><td style="padding-bottom: 1pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</ix:nonNumeric><p id="xdx_8A4_zTJhnOip0ms6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">Total amortization expense related to the
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respectively.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">Future amortization of the right of use asset
as of January 31, 2022 is as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="From2021-11-01to2022-01-31" escape="true" name="ivdn:FutureAmortizationOfRightOfUseAssetsTableTextBlock"><table cellpadding="0" cellspacing="0" id="xdx_89D_ecustom--FutureAmortizationOfRightOfUseAssetsTableTextBlock_zPggganWqmZ4" summary="xdx: Disclosure - RIGHT OF USE ASSETS (Details 1)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span id="xdx_8B1_zb8p1KaSF0ca" style="display: none">Future amortization of right of use assets</span></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; width: 70%; text-align: left; text-indent: -10pt">2022</td><td style="width: 10%; padding-bottom: 2.5pt">&#160;</td>
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  </table>

</ix:nonNumeric><p id="xdx_8A8_zkfohtp7jdSk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-11-01to2022-01-31" escape="true" name="ivdn:RightOfUseLeaseLiabilitiesTextBlock"><p id="xdx_804_ecustom--RightOfUseLeaseLiabilitiesTextBlock_zBAWJkkSeIw2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 60px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 12.</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_82E_zRrL1BfFuE25">OPERATING LEASE LIABILITY</span></span></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">As disclosed in Note 11, the Company entered
into a verbal lease for office space prior to the quarter ended January 31, 2020 that is classified as a right of use asset and lease
liability.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">As of January 31, 2022, the lease liability
associated with future payments due under the verbal lease is as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="From2021-11-01to2022-01-31" escape="true" name="us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock"><table cellpadding="0" cellspacing="0" id="xdx_896_eus-gaap--ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock_zbYs1AjIvyg4" summary="xdx: Disclosure - OPERATING LEASE LIABILITY (Details)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span id="xdx_8B7_zFuNMXinuGIi" style="display: none">Schedule of future minimum lease payments</span></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; width: 70%; text-align: left; text-indent: -10pt">Total future minimum lease payments</td><td style="width: 10%">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td id="xdx_98F_ecustom--PrincipalPaymentsMadeAsOfPeriod_iI_pp0p0_c20220131_zEGNv7t91Oge" title="Principal payments made as of the period" style="border-bottom: Black 1pt solid; text-align: right">(<ix:nonFraction name="ivdn:PrincipalPaymentsMadeAsOfPeriod" contextRef="AsOf2022-01-31" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">119,565</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">Total operating lease liability as of January 31, 2022</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_987_ecustom--TotalRightOfUseLeaseLiability_iI_pp0p0_c20220131_zLCLYcivSoR4" title="Total right of use lease liability as of April 30, 2021" style="text-align: right"><ix:nonFraction name="ivdn:TotalRightOfUseLeaseLiability" contextRef="AsOf2022-01-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">30,931</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Less current portion due within one year</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td id="xdx_98D_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pp0p0_c20220131_zIoPHv9KqEHb" title="Less current portion due within one year" style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:OperatingLeaseLiabilityCurrent" contextRef="AsOf2022-01-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">30,931</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Long-term operating lease liability</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-<span id="xdx_90B_ecustom--LongtermOperatingLeaseLiability_iI_pp0p0_c20220131_zuRrkgZ6sRKc" title="Long-term operating lease liability"><ix:nonFraction name="ivdn:LongtermOperatingLeaseLiability" contextRef="AsOf2022-01-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">0</ix:nonFraction></span>-</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
  </table>


</ix:nonNumeric><p id="xdx_8A5_zOlF1dz6ViAh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<ix:exclude><!-- Field: Page; Sequence: 12; Value: 1 -->
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    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_23C_zGclc6zc9FE6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_23A_z17kG6ndwfZg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>INNOVATIVE DESIGNS, INC.</b></p></ix:exclude>

<ix:exclude><p id="xdx_23F_zzmAxZ1kj6a5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_23E_zsuFleTKoHV3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOTES TO THE CONDENSED FINANCIAL STATEMENTS</p></ix:exclude>

<ix:exclude><p id="xdx_236_z1KALqkZAy1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="text-decoration: underline">Three Month Periods Ended January 31, 2022 and 2021
(Unaudited)</span></p></ix:exclude>

<ix:exclude><p id="xdx_23C_zY3STXJT9Nr5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p></ix:exclude>

<ix:exclude><table cellspacing="0" cellpadding="0" id="xdx_235_zOYOKbirvei2" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 60px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 12.</span></td>
    <td>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration: underline">OPERATING LEASE LIABILITY- (CONTINUED)</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p></td></tr>
  </table></ix:exclude>
<ix:exclude><p id="xdx_231_zLiHqqVt3tG" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">Total maturities of lease liability as of
January 31, 2022 are as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="From2021-11-01to2022-01-31" escape="true" name="us-gaap:LesseeOperatingLeaseLiabilityMaturityTableTextBlock"><table cellpadding="0" cellspacing="0" id="xdx_898_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zb6zXa4FI94g" summary="xdx: Disclosure - OPERATING LEASE LIABILITY (Details 1)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8BA_zpQqFTxpxShe" style="display: none">Schedule of maturities of lease liabilities</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="text-align: center">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Total future minimum lease payments</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Present value discount</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Operating lease liability</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; width: 33%; text-align: right; text-indent: -10pt">&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 15%; text-align: right">&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 15%; text-align: right">&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 15%; text-align: right">&#160;</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">2022</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td id="xdx_98A_ecustom--OperatingLeasesFutureMinimumPaymentDue_c20220131_pp0p0" title="Total future minimum lease payments" style="text-align: right"><ix:nonFraction name="ivdn:OperatingLeasesFutureMinimumPaymentDue" contextRef="AsOf2022-01-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">31,500</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td id="xdx_980_ecustom--PresentValueDiscount_c20220131_pp0p0" title="Present value discount" style="text-align: right"><ix:nonFraction name="ivdn:PresentValueDiscount" contextRef="AsOf2022-01-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">569</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--OperatingLeaseLiability_iI_pp0p0_c20220131_zlUabHFdKF5b" title="Operating lease liability" style="text-align: right"><ix:nonFraction name="us-gaap:OperatingLeaseLiability" contextRef="AsOf2022-01-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">30,931</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  </table>


</ix:nonNumeric><p id="xdx_8A0_ziXTTiWqScp" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-11-01to2022-01-31" escape="true" name="us-gaap:SegmentReportingDisclosureTextBlock"><p id="xdx_807_eus-gaap--SegmentReportingDisclosureTextBlock_zIyebX5sHCql" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 60px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 13.</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_828_zGuNcdwqjdub">SEGMENT INFORMATION</span></span></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">We have organized our operations
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">The following tables present our business
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="From2021-11-01to2022-01-31" escape="true" name="us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock"><table cellpadding="0" cellspacing="0" id="xdx_880_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_z3OckKSpC9z2" summary="xdx: Disclosure - SEGMENT INFORMATION (Details)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p>

<ix:exclude><!-- Field: Page; Sequence: 13; Value: 1 -->
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<ix:exclude><p id="xdx_233_zCuYkgAKZwJi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&#160;</p></ix:exclude>



<ix:exclude><p id="xdx_239_zYGj7kYH8wM8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify"></p></ix:exclude>

<ix:exclude><p id="xdx_23B_z2eiWHplhAi2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>INNOVATIVE DESIGNS, INC.</b></p></ix:exclude>

<ix:exclude><p id="xdx_230_zywMwnAiDFc9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_239_z3oc2il6eqAd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOTES TO THE CONDENSED FINANCIAL STATEMENTS&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_235_zJGdtid8wlTa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="text-decoration: underline">Three Month Periods Ended January 31, 2022 and 2021
(Unaudited)</span></p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-11-01to2022-01-31" escape="true" name="us-gaap:LegalMattersAndContingenciesTextBlock"><p id="xdx_806_eus-gaap--LegalMattersAndContingenciesTextBlock_zWEeQInkIV1d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 60px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 14.</span></td>
    <td>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration: underline"><span id="xdx_827_zlyafbyT6G7c">LEGAL PROCEEDINGS</span></span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 4, 2016, the 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 as to redress a rescission of revenue the Company received from the sale of 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.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;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&#8217;s September 24, 2020, Order
granting the Company&#8217;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&#8217;s February 14, 2020, striking Dr. David Yarbrough&#8217;s expert testimony made on behalf
of the FTC. The FTC filed its appeal and on March 24, 2021, the Company filed its answer.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 22, 2021, the Registrant was informed that
the United States Court of Appeals for the Third District affirmed the District Court&#8217;s ruling in favor of the Registrant. The ruling
was in connection with the Federal Trade Commission 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 INSULTIX
House Wrap products.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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. The Company is seeking from the FTC all attorney&#8217;s fees, expenses and costs the Company incurred and/or
will incur in connection with the litigation. The matter is proceeding to mediation.</p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-11-01to2022-01-31" escape="true" name="us-gaap:SubsequentEventsTextBlock"><p id="xdx_80F_eus-gaap--SubsequentEventsTextBlock_zmVvbaAOBzbg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 60px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 15.</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_829_zXYXe5iRLCL4">SUBSEQUENT EVENTS</span></span></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has evaluated subsequent events in accordance
with ASC Topic 855, &#8220;<i>Subsequent Events</i>&#8221;, through March 15, 2022, which is the date the condensed financial statements
were available to be issued. The Company identified the below subsequent event.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 11, 2022, the Company issued <span id="xdx_900_eus-gaap--SaleOfStockConsiderationReceivedPerTransaction_c20220201__20220211__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zFk2FTQG6Fn" title="Issuance of investor shares"><ix:nonFraction name="us-gaap:SaleOfStockConsiderationReceivedPerTransaction" contextRef="From2022-02-012022-02-11_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">60,000</ix:nonFraction></span> shares
of stock to an investor that exercised a stock warrant.</p>

</ix:nonNumeric><p id="xdx_813_zZrDt3Q8qKgj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>INNOVATIVE DESIGNS, INC.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 45pt">ITEM 2.</td><td style="text-align: justify"><span id="a_007"></span>MANAGEMENT&#8217;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify; text-indent: -45pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify"><b>General</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify">The following information should be read
in conjunction with the financial statements and the notes thereto and in conjunction with Management&#8217;s Discussion and Analysis
of Condensed Financial Condition and Results of Operations in our Annual Report on Form 10-K for the fiscal year ended October 31, 2021.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify"><b>Forward-Looking Statements</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify">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&#8217;s current expectations and are inherently uncertain. Actual results could differ materially for a
variety of reasons, including, among others, 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&#8217;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 publicity update or revise any forward-looking statement, whether as a result of new information, future events or otherwise
except as required by law.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify"><b>Background</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify">Innovative Designs, Inc. (hereinafter referred
to as the &#8220;Company&#8221;, &#8220;we&#8221; or &#8220;our&#8221;) was formed on June 25, 2002. We market and sell clothing products
such as outdoor apparel, and cold weather gear called &#8220;Arctic Armor&#8221; that are made from Insultex, 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 Insultex. We obtain Insultex through a license agreement with the owner and manufacturer of the material.
Since our formation we have devoted our efforts to:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 60pt"></td><td style="width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Completing
                                            the development, design and prototypes of our products,</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 97pt; text-align: justify; text-indent: -18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 60pt"></td><td style="width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Obtaining
                                            retail stores or sales agents to offer and sell our products,</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 97pt; text-align: justify; text-indent: -18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 60pt"></td><td style="width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Developing
                                            our website to sell more of our products.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 97pt; text-align: justify; text-indent: -18pt">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>INNOVATIVE DESIGNS, INC.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&#160;</p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify"><b>Results of Operations</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify"><span style="text-decoration: underline">Comparison of the Three Month Period Ended
January 31, 2022 with the Three Month Period Ended January 31, 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Fiscal Year</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Fiscal Year</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Ended</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Ended</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">January 31,</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">% of</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">January 31,</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">% of</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Increase</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">2022</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Sales</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">2021</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Sales</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(Decrease)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">% Change</span></td></tr>
<tr style="vertical-align: bottom">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; width: 40%; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">REVENUE</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">62,400</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">100</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">40,017</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">100</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">22,383</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">56</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">OPERATING EXPENSES</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Cost of sales</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">32,346</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">52</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">18,635</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">47</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">13,711</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">74</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Selling, general and</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">administrative expenses</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">150,245</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">241</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">72,883</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">182</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">77,362</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">106</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">182,591</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">293</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">91,518</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">229</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">91,073</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">100</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Loss from operations</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(120,191</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">-193</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(51,501</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">-129</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(68,690</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">133</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Other income (expense)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#8212;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">0</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">28,823</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">72</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(28,823</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">0</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Other Expense</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Depreciation expense</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(373</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">-1</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(8,327</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">-21</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Interest expense</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(11,476</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">-18</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(4,960</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">-12</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(6,516</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">131</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Net Loss</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(132,040</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">-212</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(35,965</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">-90</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(96,075</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">267</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td></tr>
</table>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify">&#160;&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify">Revenues for the three month period ended
January 31, 2022 were $62,400 compared to revenues of $40,017 for the three month period ended January 31, 2021. The increase in revenue
is attributable to more sales of our apparel products. See Note 13 of the Notes to the Condensed Financial Statements appearing elsewhere
in this Report for a description of our segment products sales. Our net loss for the three-month period ended January 31, 2022, was ($132,040)
compared to a net loss of ($35,965) for the comparable period in 2021.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify">Our selling, general and administrative expenses
were $150,245 for the three month period ended January 31, 2022 compared to $72,883 for the three month period ended January 31, 2021.
Professional fees for the three month period ended January 31, 2022 were $40,610 compared to $24,555 for the three month period ended
January 31, 2021. The increase is partially a result of more audit fees of approximately $11,000.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify">Payroll increase by $20,393 from the prior
year period as we were not fully operational as a result of the Covid pandemic. Likewise, we were not ordering manufacturing product,
which increased by $42,805 during the three months ended January 31, 2022.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify">For the second quarter we expect revenues
to be higher than the first quarter as the construction season begins with warmer weather in many parts of the country. Additionally,
we are working on expanding our market presence by bringing on new sales representatives for our HouseWrap product line.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>INNOVATIVE DESIGNS, INC.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>&#160;</b></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 45pt; text-align: justify; text-indent: 0pt"><b>Liquidity and Capital
Resources</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify; text-indent: 0pt"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 45pt; text-align: justify; text-indent: 0pt">During the three-month period ended January
31, 2022, we funded our operations from revenues from sales, and sale of our common stock. During the three month period ended January
31, 2022, sold our common stock in private transactions and raised $61,000 from the sales.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-indent: 0pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 45pt; text-align: justify; text-indent: 0pt">We must purchase new quality control testing
equipment for our House Wrap product line, which we estimated will cost approximately $100,000. We have not, as yet, received a quote
from the vendor. Once the equipment is built it will have to go through a certification process.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-indent: 0pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 45pt; text-align: justify; text-indent: 0pt">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 financial resources available to the Company, finding a suitable facility
and bringing technical personal 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 intends produce Insultex under its own brand
name. See Note 10 of the Notes to the Condensed Financial Statements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-indent: 0pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 45pt; text-align: justify; text-indent: 0pt">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 Insultex would be delayed.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-indent: 0pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 45pt; text-align: justify; text-indent: 0pt">Subsequent to the period we received proceeds
of $10,200 upon the exercise of 60,000 warrants at $ .17 per share.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>INNOVATIVE DESIGNS, INC.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&#160;</p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span id="a_014"></span>PART II &#8211; OTHER INFORMATION</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 45pt">ITEM 1.</td><td style="text-align: justify"><span id="a_008"></span>LEGAL PROCEEDING</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -10pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">See Note 14 of the Notes to the
Condensed Financial Statements appearing elsewhere in this Report.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -10pt">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0; text-align: left"></td><td style="width: 45pt"> ITEM&#160;1A</td><td style="text-align: justify">Risk Factors</td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -10pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As a smaller reporting company,
we are not required to provide the information</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -10pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">required by this Item.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -10pt">&#160;&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 45pt">ITEM 2.</td><td style="text-align: justify"><span id="a_009"></span>UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify; text-indent: -54pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify">See Part II Item 5 of the Company&#8217;s
Annual Report on Form 10-K for the fiscal year ended October 31, 2021</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 45pt">ITEM 3.</td><td style="text-align: justify"><span id="a_010"></span>Defaults upon Senior Securities</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 47.25pt">None</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0; text-align: right"></td><td style="width: 45pt">Item&#160;4</td><td style="text-align: justify"><span id="a_011"></span>Mine Safety Disclosures</td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Not applicable</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 45pt">ITEM 4T.</td><td style="text-align: justify"><span id="a_012"></span>CONTROLS AND PROCEDURES</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -10pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify">Management has developed and implemented
a policy and procedures for reviewing, on a quarterly basis, our disclosure controls and procedures. During the three month period ended
January 31, 2022, our principle executive/financial officer concluded that these controls and procedures were ineffective and identified
the following specific material weaknesses.</p>

<table cellspacing="0" cellpadding="0" style="width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 20pt">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24pt"><span style="font-size: 10pt">&#9679;&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-size: 10pt">The Company is not maintaining supporting schedules, or the schedules being maintained are inaccurate to support amounts presented and disclosed in the financial statements. Specific schedules in relation to inventory deposits, inventory reserves, fixed assets, debt balance (and related accrued interest) were not available, or in the case of debt schedules were not accurate and in accordance with the loan documents</span></td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-size: 10pt">The Company&#8217;s internal controls policies are ineffective, or not being complied with, to identify errors, in the financial statements. These deficiencies may be considered as &#8220;material weaknesses&#8221;.</span></td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-size: 10pt">In addition, the Company does not utilize an internal accounting system that captures all Company activity on a timely basis. Certain transactions, such as sales and receivables are maintained in one system and disbursements and accounts payable are maintained manually. On a quarterly basis this information is sent to an external accountant to retroactively enter the information into a general ledger system and then prepare the financial statements. The lack of a single accounting system presents multiple opportunities for errors to occur, and further contributes to a lack of timely internal and external financial reporting.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.25pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.25pt; text-align: justify">This was due to our limited resources,
including the absence of an internal financial staff member with accounting and financial expertise and deficiencies in the design or
operation of our internal control over financial reporting that adversely affected our disclosure controls.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.25pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.25pt; text-align: justify">Management plans to address these matters
by among actions, meeting more with its external accountant to ensure that issues such as described above are correct going forward. The
Company will also restructure its loan recording system to be able to present a more informative report to its external account. Management
will also reevaluate its accounting software and will make a determination as to whether to continue to use it or implement another type
of program. Either decision will allow all information to be entered into one system which should alleviate the significant deficiency
described above.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.25pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">However, the material weakness will not be considered
remediated until the applicable remedial controls operate for a sufficient period of time and management has concluded, through testing,
that these controls are operating effectively. At this time we do not have the financial resources to employ a financial Staff with accounting
and financial expertise.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Changes in Internal Control Over Financial Reporting</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the most recent fiscal quarter, there were
no changes in the Company&#8217;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&#8217;s
internal control over financial reporting.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&#160;&#160;<b>INNOVATIVE DESIGNS,
INC.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 45pt">ITEM 6.</td><td style="text-align: justify"><span id="a_013"></span>EXHIBITS</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify; text-indent: -27pt">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
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    <td><span style="font-family: Times New Roman, Times, Serif"><a href="http://www.sec.gov/Archives/edgar/data/1190370/000114420415008465/v400742_ex3-1.htm">Revised Certificate of Incorporation</a></span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td>&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif">**3.2</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif"><a href="http://www.sec.gov/Archives/edgar/data/1190370/000118206303000046/idex32bylaws.htm">By-Laws</a></span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td>&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
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    <td><a href="e3603_ex31-1.htm"><span style="font-family: Times New Roman, Times, Serif">Rule 13a - 14a Certification of Chief Executive Officer</span></a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td>&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif">31.2</span></td>
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  <tr style="vertical-align: top; background-color: White">
    <td>&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
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    <td><a href="e3603_ex32-1.htm"><span style="font-family: Times New Roman, Times, Serif">Section 1350 Certification of Chief Executive Officer <span>and Chief Financial Officer</span></span></a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td>&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
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    <td><a href="e3603_ex32-2.htm"><span style="font-family: Times New Roman, Times, Serif">Section 1350 Certification of Chief Financial Officer and Chief Accounting Officer</span></a></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify; text-indent: -27pt">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td style="width: 0"></td><td style="width: 45pt">*</td><td>Incorporated by reference to the Company&#8217;s Form 10-K filed February 12, 2015</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-indent: -18pt">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td style="width: 0"></td><td style="width: 45pt">**</td><td style="text-align: justify">Incorporated by reference to the Company&#8217;s registration statement on Form SB-2, filed<br />
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify; text-indent: -27pt">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top; background-color: rgb(204,238,255)">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify; text-indent: -31.5pt">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>INNOVATIVE DESIGNS, INC.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 18pt; text-align: center">SIGNATURES</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 18pt; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify">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.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 18pt; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 50%"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="width: 5%"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; width: 45%"><span style="font: 10pt Times New Roman, Times, Serif">Innovative Designs, Inc.</span></td></tr>
<tr style="vertical-align: top">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">Registrant</span></td></tr>
<tr style="vertical-align: top">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td><span style="font: 10pt Times New Roman, Times, Serif">Date: March 13, 2022</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">by:</span></td>
<td style="border-bottom: Black 1pt solid"><span style="font: 10pt Times New Roman, Times, Serif">/s/ Joseph Riccelli</span></td></tr>
<tr style="vertical-align: top">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">Joseph Riccelli, Chief Executive Officer</span></td></tr>
<tr style="vertical-align: top">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">and Chief Financial Officer</span></td></tr>
</table>


<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">20</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>




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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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[{"type": "10-Q", "sequence": "1", "filename": "e3603_10q.htm", "description": "FORM 10-Q", "secsgml_size_bytes": 436178}]
{"company-data": {"conformed-name": "INNOVATIVE DESIGNS INC", "cik": "0001190370", "assigned-sic": "2390", "irs-number": "030465528", "state-of-incorporation": "DE", "fiscal-year-end": "1031"}, "filing-values": {"form-type": "10-Q", "act": "34", "file-number": "000-51791", "film-number": "22740652"}, "business-address": {"street1": "124 CHERRY ST.", "street2": "STE 1", "city": "PITTSBURGH", "state": "PA", "zip": "15223", "phone": "4127990350"}, "mail-address": {"street1": "124 CHERRY ST.", "street2": "STE 1", "city": "PITTSBURGH", "state": "PA", "zip": "15223"}}
INNOVATIVE
DESIGNS, INC.
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
January 31, 2022
OR
☐
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)
In
dicate
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
☒ NO ☐
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 ☐
1
INNOVATIVE
DESIGNS, INC.
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 March 7, 2022, there were
34,215,560
shares of the Registrant's common stock, par value $.0001 per share, outstanding.
Transitional
Small Business Disclosure Format:	YES	☐	 NO	☒
2
INNOVATIVE
DESIGNS, INC.
Innovative Designs, Inc.
Index
Form 10-Q for the Quarter Ended January 31, 2022
Page No.
Part I --
Financial Information
Item 1.
Condensed Financial Statements (Unaudited)
Condensed Balance Sheets as of January 31, 2022 (Unaudited)
4
And October 31, 2021, (Audited)
Condensed Statements of Operations for the Three
6
Month Periods Ended January 31, 2022 and 2021 (Unaudited)
Condensed Statements of Changes in Stockholders' Equity
7
as of January 31, 2022 (Unaudited) and October 31, 2021,
(Audited)
Condensed Statements of Cash Flows for the Three Month
8
Periods Ended January 31, 2022 and 2021 (Unaudited)
Notes to the Condensed Financial Statements
9
- 14
Item 2.
Management's Discussion and Analysis of Financial Condition
15
and Results of Operations
Part II --
Other Information
18
Items 1, 2, 3, 4 and 4T.
Item 6.
Exhibits
19
3
INNOVATIVE DESIGNS, INC.
CONDENSED BALANCE SHEETS
JANUARY 31, 2022 (UNAUDITED) AND OCTOBER 31, 2021
January 31, 2022
October 31, 2021
ASSETS
CURRENT ASSETS
Cash
$
289,925
$
480,451
Accounts receivable - net of allowance for doubtful accounts of $
5,860
9,483
1,201
Inventory - net of obsolete inventory reserve of $
75,468
548,274
542,588
Right of use asset - operating lease
30,931
40,962
Total current assets
878,613
1,065,202
PROPERTY AND EQUIPMENT - NET
7,077
7,450
OTHER ASSETS
Inventory on consignment
1,625
1,625
Deposits on inventory
30,000
—
Advance to employees
8,200
8,200
Deposits on equipment
600,000
600,000
Total other assets
639,825
609,825
TOTAL ASSETS
$
1,525,515
$
1,682,477
The
accompanying notes are an integral part of these condensed financial statements
4
INNOVATIVE DESIGNS, INC.
CONDENSED BALANCE SHEETS
JANUARY 31, 2022 (UNAUDITED) AND OCTOBER 31, 2021
January 31, 2022
October 31, 2021
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable
$
238,339
$
228,667
Current portion of notes payable
18,628
18,628
Accrued interest expense
39,747
43,136
Due to stockholders
178,631
188,632
Operating lease liability
30,931
40,962
Accrued expenses
9,529
25,037
Total current liabilities
515,805
545,062
LONG-TERM LIABILITIES
Long-term portion of due to stockholders
66,667
133,332
Long-term portion of notes payable
71,722
71,722
Total long-term liabilities
138,389
205,054
TOTAL LIABILITIES
654,194
750,116
STOCKHOLDERS' EQUITY
Preferred stock, $
0.0001
par value,
25,000,000
shares authorized
—
—
Common stock, $
0.0001
par value,
100,800,000
shares authorized, and
33,705,560
and
33,315,560
issued and outstanding
3,372
3,333
Additional paid-in capital
11,110,079
11,039,118
Accumulated deficit
-
10,242,130
-
10,110,090
Total stockholders' equity
871,321
932,361
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$
1,525,515
$
1,682,477
The
accompanying notes are an integral part of these condensed financial statements
5
INNOVATIVE DESIGNS, INC.
CONDENSED STATEMENTS OF OPERATIONS
THREE MONTHS PERIODS ENDED JANURARY 31, 2022 AND 2021 (UNAUDITED)
Three Months Ended January 31,
2022
2021
REVENUES - NET
$
62,400
$
40,017
OPERATING
EXPENSES:
Cost of sales
32,346
18,635
Selling, general and administrative expenses
150,618
81,210
Total Operating Expenses
182,964
99,845
LOSS FROM OPERATIONS
(
120,564
)
(
59,828
)
OTHER
INCOME (EXPENSE)
Miscellaneous income (expense)
—
28,823
Interest expense
(
11,476
)
(
4,960
)
Total other income (expense)
(
11,476
)
23,863
NET LOSS
$
(
132,040
)
$
(
35,965
)
PER
SHARE INFORMATION - BASIC
Net Loss Per Common Share
$
(
0.004
)
$
(
0.001
)
Weighted Average Number of Common Shares Outstanding
33,510,560
31,261,560
PER
SHARE INFORMATION - DILUTED
Net Loss Per Common Share
$
(
0.004
)
$
(
0.001
)
Weighted Average Number of Common Shares Outstanding
34,884,560
31,381,560
The
accompanying notes are an integral part of these condensed financial statements.
6
INNOVATIVE DESIGNS, INC.
CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
THREE MONTHS PERIODS ENDED JANUARY 31, 2022 AND 2021 (UNAUDITED)
Common Stock
Common Stock
Additional Paid-in
Accumulated
Shares
Amount
To be Issued
Capital
Deficit
Total
Balance at October 31, 2021
33,315,560
$
3,333
$
—
$
11,039,118
$
(
10,110,090
)
$
932,361
Sale of stock
340,000
34
—
60,966
—
61,000
Shares issued for services
50,000
5
9,995
10,000
Net loss
—
—
—
—
(
132,040
)
(
132,040
)
Balance at January 31, 2022
33,705,560
3,372
—
11,110,079
(
10,242,130
)
871,321
Balance at October 31, 2020
31,211,560
3,123
—
10,574,828
(
9,730,028
)
847,923
Sale of stock
100,000
10
—
24,990
—
25,000
Net loss
—
—
—
—
(
35,965
)
(
35,965
)
Balance at January 31, 2021
31,311,560
3,133
—
10,599,818
(
9,765,993
)
836,958
The
accompanying notes are an integral part of these condensed financial statements.
7
INNOVATIVE DESIGNS, INC.
CONDENSED STATEMENTS OF CASH FLOWS
THREE MONTHS ENDED JANUARY 31, 2022 AND 2021 (UNAUDITED)
For the Three Month Periods
Ended
January 31, 2022
January 31, 2021
CASH
FLOWS FROM OPERATING ACTIVITIES:
Net loss
$
(
132,040
)
(
35,965
)
Adjustments
to reconcile net loss to net cash used in operating activities:
Common stock issued for services
10,000
25,000
Depreciation
373
8,327
Amortization of right of use asset
10,031
9,495
(Increase)
decrease from changes in:
Accounts receivable
(
8,282
)
(
8,698
)
Inventory
(
5,686
)
14,777
Deposits on inventory
(
30,000
)
—
Increase
(decrease) from changes in:
Accounts payable
9,672
(
36,500
)
Lease liability
(
10,031
)
(
9,495
)
Accrued interest expense
(
3,389
)
(
3,840
)
Accrued expenses
(
15,508
)
—
Net cash used in operating activities
(
174,860
)
(
36,899
)
CASH
FLOWS FROM INVESTING ACTIVITIES
Net cash used in investing activities
—
—
CASH
FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of stock
61,000
—
Proceeds from stockholder advances
—
200,000
Payments on stockholder advances
(
76,666
)
—
Payments on notes payable
—
(
1,819
)
Net cash provided by financing activities
(
15,666
)
198,181
Net change in cash
(
190,526
)
161,282
CASH, BEGINNING OF PERIOD
480,451
48,009
CASH, END OF THE PERIOD
$
289,925
$
209,291
Supplemental
disclosure of cash flow information:
Cash paid during period for interest
$
14,865
$
9,800
Cash paid during period for taxes
$
—
$
—
The
accompanying notes are an integral part of these condensed financial statements.
8
INNOVATIVE DESIGNS, INC.
NOTES TO THE CONDENSED FINANCIAL STATEMENTS
Three Month Periods Ended January 31, 2022 and 2021
(Unaudited)
NOTE 1.
BASIS OF PRESENTATION
In the opinion of management, the accompanying
unaudited condensed financial statements contain all adjustments necessary to present fairly Innovative Designs, Inc.'s financial
position as of January 31, 2022, the changes therein for the three periods then ended and the results of operations for the three periods
ended January, 2022 and 2021.
The condensed financial statements included
in the Form 10-Q are presented in accordance with the requirements of the Form and do not include all of the disclosures required by accounting
principles generally accepted in the United States of America. For additional information, reference is made to the Innovative Designs,
Inc.'s annual report on Form 10-K for the fiscal year ended October 31, 2021. The results of operations for the three periods ended
January, 2022 and 2021 are not necessarily indicative of operating results for the full year.
NOTE 2.
RIGHT OF USE ASSETS AND LEASE LIABILITIES
During the quarter ended April 30, 2019,
the Company implemented Accounting Standards Update 2016-02, Leases. Under the new guidance, a lessee must be recorded a liability for
lease payments (referred to as the lease liability) and an asset for the right to use the leased asset during the lease term (referred
to at the right of use asset) for all leases, regardless of whether they are designated as finance or operating leases. This election
requires the lessee to recognize lease expense on a straight-line basis over the lease term. The right of use assets and corresponding
right of use liabilities have been recorded using the present value of the leases. See Notes 11 and 12 within the condensed financial
statements for additional disclosure on leases.
NOTE 3.
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 ($
132,040
) and a negative cash flow from operations of ($
174,860
) for
the three month period ended January 31, 2022. In addition, the Company has an accumulated deficit of ($
10,242,130
). 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.
NOTE 4.
ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS
Management 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 of $
5,860
January 31, 2022 and October 31, 2021, respectively. Management has applied an allowance on
all balances in excess of 90 days.
9
INNOVATIVE DESIGNS, INC.
NOTES TO THE CONDENSED FINANCIAL STATEMENTS
Three Month Periods Ended January 31, 2022 and 2021
(Unaudited)
NOTE 5.
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 discontinued the manufacturing of its hunting and swimming line of apparel. The Company
has booked a reserve against apparel inventory at January 31, 2022 and October 31, 2021 of $
75,468
. Management has determined that no
allowance is currently necessary on their House Wrap Inventory. Management will continue to evaluate its obsolete inventory reserve throughout
the year and make adjustments as needed.
NOTE 6.
EARNINGS PER SHARE
The Company calculates net income (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
1,254,000
and
240,000
as
of January 31, 2022 and 2021, respectively. The Company has calculated diluted earnings per share utilizing the outstanding stock warrants
and convertible debt.
NOTE 7.
INCOME TAXES
The Company accounts for income taxes in
accordance with 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.
NOTE 8.
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 $
8,647
and $
3,007
for the three month periods ended January 31, 2022 and 2021, respectively.
10
INNOVATIVE DESIGNS, INC.
NOTES TO THE CONDENSED FINANCIAL STATEMENTS
Three Month Periods Ended January 31, 2022 and 2021
(Unaudited)
NOTE 9.
COMMON STOCK
During the three month period ended January
31, 2022, the Company sold
340,000
shares of common stock to five investors for total proceeds of $
61,000
and issued
50,000
shares to
one investor for services. The stock was issued between $
0.17
and $
0.25
per share.
During the three month period ended January
31, 2021, the Company sold
100,000
shares of common stock to one investors for total proceeds of $
25,000
. The stock was issued for $
.25
per share.
NOTE 10.
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 which
was to be paid in four installments. The first installment of $300,000 was to be paid at the execution of the agreement. The second installment
of $200,000 was to be paid when the machinery and equipment is ready to be shipped to the United States. The third installment of $100,000
is to be paid 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.
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. Due to various environmental regulations regarding
propane emitted from the machine into the air and other costs to assemble the machine the Company expects to incur costs in excess of
the current deposit agreement. Management of the Company currently cannot reasonably estimate the costs. During the six month period ended
April 30, 2019 Management decided to sell the machine. The shipping and other purchase costs associated with the purchase of the machine
that were originally capitalized as part of the machine cost that were written off. The total loss on impairment for the six month period
ended April 30, 2019 was $
17,000
. In July 2021, management has decided that it is no longer selling this equipment and is moving forward
with plans of putting it in service in the future.
NOTE 11.
RIGHT OF USE ASSETS – OPERATING LEASE
The Company entered into a month to month
verbal lease at the time the Company was formed that is classified as right of use asset and lease liability. The lease for the Company's
office space is estimated to be through June 2022. In accordance with ASU 2016-02, the Company calculated the present value of the leases
using the average commercial real estate interest rate of
5.50
% at the commencement of the office lease. Applying the commercial rate,
the Company calculated the present value of $
150,496
for the office lease as of April 30, 2020.
11
INNOVATIVE DESIGNS, INC.
NOTES TO THE CONDENSED FINANCIAL STATEMENTS
Three Month Periods Ended January 31, 2022 and 2021
(Unaudited)
NOTE 11.
RIGHT OF USE ASSETS – OPERATING LEASE (CONTINUED)
As of January 31, 2022, the right of use
assets associated with future operating lease is as follows:
Total present value of right of use asset under lease agreement
$
150,496
Amortization of right of use asset – operating lease
(
119,565
)
Total right of use asset – operating lease as of January 31, 2022
$
30,931
Less current portion due within one year
30,931
Long-term right of use asset – operating lease
$
-
0
-
Total amortization expense related to the
right of use assets under the verbal lease agreement was $
10,031
and $
9,495
for the three month periods ended January 31, 2022 and 2021,
respectively.
Future amortization of the right of use asset
as of January 31, 2022 is as follows:
2022
$
30,931
NOTE 12.
OPERATING LEASE LIABILITY
As disclosed in Note 11, the Company entered
into a verbal lease for office space prior to the quarter ended January 31, 2020 that is classified as a right of use asset and lease
liability.
As of January 31, 2022, the lease liability
associated with future payments due under the verbal lease is as follows:
Total future minimum lease payments
$
150,496
Principal payments made as of the period ended January 31, 2022
(
119,565
)
Total operating lease liability as of January 31, 2022
30,931
Less current portion due within one year
30,931
Long-term operating lease liability
$
-
0
-
12
INNOVATIVE DESIGNS, INC.
NOTES TO THE CONDENSED FINANCIAL STATEMENTS
Three Month Periods Ended January 31, 2022 and 2021
(Unaudited)
NOTE 12.
OPERATING LEASE LIABILITY- (CONTINUED)
Total maturities of lease liability as of
January 31, 2022 are as follows:
Total future minimum lease payments
Present value discount
Operating lease liability
2022
$
31,500
$
569
$
30,931
NOTE 13.
SEGMENT INFORMATION
We have organized our operations
into
two segments. We rely on an internal management reporting process that provides segment information for purposes of making
financial decisions and allocating resources.
The following tables present our business
segment information for the three month periods ended January 31, 2022 and 2021:
2022
2021
Revenues:
Apparel
$
45,272
$
33,937
House Wrap
17,128
6,080
Total Revenues
$
62,400
$
40,017
Assets:tc
Apparel
$
134,245
$
140,857
House Wrap
1,391,270
1,453,297
Total
$
1,525,515
$
1,594,154
Depreciation:
Apparel
$
-
0
-
2,372
House Wrap
373
5,955
Total
$
373
$
8,327
13
INNOVATIVE DESIGNS, INC.
NOTES TO THE CONDENSED FINANCIAL STATEMENTS
Three Month Periods Ended January 31, 2022 and 2021
(Unaudited)
NOTE 14.
LEGAL PROCEEDINGS
On November 4, 2016, the 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 as to redress a rescission of revenue the Company received from the sale of 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 United States 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 Federal Trade Commission 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 INSULTIX
House Wrap products.
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. The Company is seeking from the FTC all attorney's fees, expenses and costs the Company incurred and/or
will incur in connection with the litigation. The matter is proceeding to mediation.
NOTE 15.
SUBSEQUENT EVENTS
The Company has evaluated subsequent events in accordance
with ASC Topic 855, "
Subsequent Events
", through March 15, 2022, which is the date the condensed financial statements
were available to be issued. The Company identified the below subsequent event.
On February 11, 2022, the Company issued
60,000
shares
of stock to an investor that exercised a stock warrant.
14
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 Condensed 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, 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 publicity 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 Insultex, 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 Insultex. We obtain Insultex 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.
15
INNOVATIVE DESIGNS, INC.
Results of Operations
Comparison of the Three Month Period Ended
January 31, 2022 with the Three Month Period Ended January 31, 2021.
Fiscal Year
Fiscal Year
Ended
Ended
January 31,
% of
January 31,
% of
Increase
2022
Sales
2021
Sales
(Decrease)
% Change
REVENUE
$
62,400
100
%
$
40,017
100
%
$
22,383
56
%
OPERATING EXPENSES
Cost of sales
32,346
52
%
18,635
47
%
13,711
74
%
Selling, general and
administrative expenses
150,245
241
%
72,883
182
%
77,362
106
%
182,591
293
%
91,518
229
%
91,073
100
%
Loss from operations
(120,191
)
-193
%
(51,501
)
-129
%
(68,690
)
133
%
Other income (expense)
—
0
%
28,823
72
%
(28,823
)
0
%
Other Expense
Depreciation expense
(373
)
-1
%
(8,327
)
-21
%
Interest expense
(11,476
)
-18
%
(4,960
)
-12
%
(6,516
)
131
%
Net Loss
$
(132,040
)
-212
%
$
(35,965
)
-90
%
$
(96,075
)
267
%
Revenues for the three month period ended
January 31, 2022 were $62,400 compared to revenues of $40,017 for the three month period ended January 31, 2021. The increase in revenue
is attributable to more sales of our apparel products. See Note 13 of the Notes to the Condensed Financial Statements appearing elsewhere
in this Report for a description of our segment products sales. Our net loss for the three-month period ended January 31, 2022, was ($132,040)
compared to a net loss of ($35,965) for the comparable period in 2021.
Our selling, general and administrative expenses
were $150,245 for the three month period ended January 31, 2022 compared to $72,883 for the three month period ended January 31, 2021.
Professional fees for the three month period ended January 31, 2022 were $40,610 compared to $24,555 for the three month period ended
January 31, 2021. The increase is partially a result of more audit fees of approximately $11,000.
Payroll increase by $20,393 from the prior
year period as we were not fully operational as a result of the Covid pandemic. Likewise, we were not ordering manufacturing product,
which increased by $42,805 during the three months ended January 31, 2022.
For the second quarter we expect revenues
to be higher than the first quarter as the construction season begins with warmer weather in many parts of the country. Additionally,
we are working on expanding our market presence by bringing on new sales representatives for our HouseWrap product line.
16
INNOVATIVE DESIGNS, INC.
Liquidity and Capital
Resources
During the three-month period ended January
31, 2022, we funded our operations from revenues from sales, and sale of our common stock. During the three month period ended January
31, 2022, sold our common stock in private transactions and raised $61,000 from the sales.
We must purchase new quality control testing
equipment for our House Wrap product line, which we estimated will cost approximately $100,000. We have not, as yet, received a quote
from the vendor. Once the equipment is built it will have to go through a certification process.
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 financial resources available to the Company, finding a suitable facility
and bringing technical personal 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 intends produce Insultex under its own brand
name. See Note 10 of the Notes to the Condensed Financial Statements.
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 Insultex would be delayed.
Subsequent to the period we received proceeds
of $10,200 upon the exercise of 60,000 warrants at $ .17 per share.
17
INNOVATIVE DESIGNS, INC.
PART II – OTHER INFORMATION
ITEM 1.
LEGAL PROCEEDING
See Note 14 of the Notes to the
Condensed Financial Statements appearing elsewhere in this Report.
ITEM 1A
Risk Factors
As a smaller reporting company,
we are not required to provide the information
required by this Item.
ITEM 2.
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
See Part II Item 5 of the Company's
Annual Report on Form 10-K for the fiscal year ended October 31, 2021
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 three month period ended
January 31, 2022, our principle executive/financial officer concluded that these controls and procedures were ineffective and identified
the following specific material weaknesses.
●
The Company is not maintaining supporting schedules, or the schedules being maintained are inaccurate to support amounts presented and disclosed in the financial statements. Specific schedules in relation to inventory deposits, inventory reserves, fixed assets, debt balance (and related accrued interest) were not available, or in the case of debt schedules were not accurate and in accordance with the loan documents
●
The Company's internal controls policies are ineffective, or not being complied with, to identify errors, in the financial statements. These deficiencies may be considered as "material weaknesses".
●
In addition, the Company does not utilize an internal accounting system that captures all Company activity on a timely basis. Certain transactions, such as sales and receivables are maintained in one system and disbursements and accounts payable are maintained manually. On a quarterly basis this information is sent to an external accountant to retroactively enter the information into a general ledger system and then prepare the financial statements. The lack of a single accounting system presents multiple opportunities for errors to occur, and further contributes to a lack of timely internal and external financial reporting.
This was due to our limited resources,
including the absence of an internal financial staff member with accounting and financial expertise and deficiencies in the design or
operation of our internal control over financial reporting that adversely affected our disclosure controls.
Management plans to address these matters
by among actions, meeting more with its external accountant to ensure that issues such as described above are correct going forward. The
Company will also restructure its loan recording system to be able to present a more informative report to its external account. Management
will also reevaluate its accounting software and will make a determination as to whether to continue to use it or implement another type
of program. Either decision will allow all information to be entered into one system which should alleviate the significant deficiency
described above.
However, the material weakness will not be considered
remediated until the applicable remedial controls operate for a sufficient period of time and management has concluded, through testing,
that these controls are operating effectively. 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.
18
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
19
INNOVATIVE DESIGNS, INC.
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: March 13, 2022
by:
/s/ Joseph Riccelli
Joseph Riccelli, Chief Executive Officer
and Chief Financial Officer
20