---
schema_version: "secwatch.filing_event.v1"
accession: "0001731122-24-001507"
form_type: "8-K"
ticker: "IVDN"
cik: "0001190370"
company_name: "INNOVATIVE DESIGNS INC"
filed_at: "2024-09-27T23:59:59+00:00"
generated_at: "2026-05-31T01:04:44.362271+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Innovative Designs terminates CEO Joseph Riccelli; appoints John Thomas as part-time CEO/CFO

## Summary
- Joseph Riccelli terminated as CEO and CFO effective September 26, 2024.
- John L. Thomas appointed CEO, CFO and corporate counsel; six-month part-time role at $2,000/week.
- Thomas receives warrant for 100,000 shares at $0.12, three-year term with cashless exercise.
- Robert K. Adams appointed Chairman of the Board.

## SEC filing metadata
- accession: 0001731122-24-001507
- form_type: 8-K
- ticker: IVDN
- cik: 0001190370
- company_name: INNOVATIVE DESIGNS INC
- filed_at: 2024-09-27T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1190370/000173112224001507/0001731122-24-001507-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1190370/000173112224001507/e5991_8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001731122-24-001507
- JSON: https://secwatch.observer/filing/0001731122-24-001507.json
- Plain text: https://secwatch.observer/filing/0001731122-24-001507.txt

## Key facts
- Executive change
  Joseph Riccelli was terminated as Chief Executive Officer and Chief Financial Officer at INNOVATIVE DESIGNS INC.
  - Action: terminated
  - Role: Chief Executive Officer and Chief Financial Officer
  source text: On September 26. 2024, the Board of Directors of the registrant terminated Mr. Joseph Riccelli as the registrant’s Chief Executive Officer and Chief Financial Officer effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1190370/000173112224001507/0001731122-24-001507-index.htm
- Executive change
  John L. Thomas was appointed as Chief Executor Officer, Chief Financial Officer and corporate counsel at INNOVATIVE DESIGNS INC.
  - Action: appointed
  - Role: Chief Executor Officer, Chief Financial Officer and corporate counsel
  source text: On the same date the Board of Directors appointed John L. Thomas, Esq as the registrant’s Chief Executor Officer, Chief Financial Officer and corporate counsel.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1190370/000173112224001507/0001731122-24-001507-index.htm
- Executive change
  Robert K. Adams was appointed as Chairman of the Board of Directors at INNOVATIVE DESIGNS INC.
  - Action: appointed
  - Role: Chairman of the Board of Directors
  source text: On the same date, the Borad of Directors appointed Mr. Robert K. Adams as Chairman of the Board of Directors.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1190370/000173112224001507/0001731122-24-001507-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.