NOTE 1 - BASIS OF PRESENTATION

In the opinion of management, the accompanying unaudited financial statements contain all adjustments necessary to present fairly Innovative Designs, Inc.’s (the “Company”) financial position as of April 30, 2025, the changes therein for the six-month periods that ended and the results of operations for the six-month periods ended April 30, 2025.

The condensed financial statements included in the Form 10-Q (the “Form”) are presented in accordance with the requirements of the Form and do not include all of the disclosures required by generally accepted accounting principles in the United States of America. For additional information, reference is made to the Company’s annual report on Form 10-K for the fiscal year ending October 31, 2024. The results of operations for the six-month period ending April 30, 2025, are not necessarily indicative of operating results for the full year.

The Company’s unaudited condensed financial statements have been prepared in accordance with GAAP and pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted from this report, as is permitted by such rules and regulations. Accordingly, these consolidated financial statements should be read in conjunction with the audited financial statements as of and for the year ended October 31, 2024, and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended October 31, 2024, filed with the SEC on February 20, 2025 (the “2024 Annual Report”). The results for any interim period are not necessarily indicative of results for any future period.

The unaudited condensed financial statements have been prepared on the same basis as the audited financial statements. In the opinion of the Company’s management, the accompanying unaudited consolidated financial statements contain all adjustments that are necessary to present fairly the Company’s financial position and results of operations for the interim periods presented. The results for the six months ended April 30, 2025, are not necessarily indicative of the results for the year ending October 31, 2025, or for any future period.

As of April 30, 2025, there have been no material changes in the Company’s significant accounting policies from those that were disclosed in the 2024 annual report.