Innovative Designs, Inc. Reports Net Loss of $171,686 for the Six Months Ended April 30, 2023
Company's Revenue Declines to $98,896 for the Six Months Ended April 30, 2023
By USInMinutes
Published - Jul 10, 2023, 10:19 AM ET
Last Updated - Jul 18, 2023, 03:03 PM EDT
Innovative Designs, Inc.,(IVDN) a leading design company, has released its condensed financial statements for the six months ended April 30, 2023. The company reported a net loss of $171,686 for the period, reflecting challenging market conditions. Additionally, the company's revenue declined to $98,896 during the same period. Let's take a closer look at the company's financial performance.
Net Loss and Assets:
Despite its innovative designs, Innovative Designs, Inc. faced a net loss of $171,686 for the six months ended April 30, 2023. This loss is attributed to increased operating expenses and decreased revenue. The company's total assets stood at $1,382,055 as of April 30, 2023, showing a slight decrease compared to the previous fiscal year.
