3SOF

Quote from: kslifka on January 29, 2007, 04:28:00 PM
INNO's been beaten up over the past year but I think this small cap company (<50 million market cap with yearly revenues of 118 million) is starting to turn the corner.  They've had a few bad quarter hence the stock drop in '05...but the chart is looking good.  Maybe small resistance near 1.60 then on the 2.70. 

Above 2.70  there would be a potential for a huge move up.

Forgot the chart and also this news after hours.

Innovo Group Inc. Regains Compliance With Nasdaq Listing Requirements
Monday January 29, 4:00 pm ET

Short term there is a bullish stick sandwich.

INNOVO GROUP INC (NasdaqCM:INNO)   

Pre-Market: 1.20  0.17 (+16.50%) as of 8:30AM ET on 05/21/07

Press Release Source: Innovo Group Inc.


Innovo Signs $20 Million Distribution Deal in Japan
Monday May 21, 6:00 am ET


LOS ANGELES, CA--(MARKET WIRE)--May 21, 2007 -- Innovo Group Inc. (the "Company") (NasdaqCM:INNO - News) today announced its Joe's Jeans, Inc. subsidiary has entered into a three-year, exclusive distribution and non-exclusive license agreement with Itochu Corporation to distribute and license its Joe's® and Joe's Jeans(TM) branded products in the Japanese market. During the term of the agreement, Itochu will be obligated to purchase a minimum of $20 million of Joe's and Joe's Jeans products for distribution, and will pay a license royalty of 6% of net sales of all bottoms and 5% of net sales of all tops for both men's and women's products.


Marc Crossman, CEO of Innovo Group, stated, "We firmly believe this agreement will allow us to achieve our objective of significantly growing the Joe's® brand in Japan, which is currently our largest international market. This represents another major step toward realigning the Joe's brand internationally to capture what we believe is tremendous future growth potential."

Foxmark International, a Japanese-based management services firm, is serving as the Company's strategic advisor in Japan.

About Innovo Group Inc.

Innovo Group Inc., through its wholly owned subsidiary Joe's Jeans, Inc., designs, produces, markets and sells Joe's® and Joe's Jeans(TM) labels branded apparel products domestically and internationally. The company is headquartered in Los Angeles, California. More information is available at the company website at www.innovogroup.com and at www.joesjeans.com.

About Itochu Corporation

Itochu Corporation is a Japan-based company with expertise in various businesses engaged in the domestic trading, import/export, and overseas trading of various products including apparel and textiles. More information is available at their website at www.itochu.co.jp.

Statements in this news release which are not purely historical facts are forward-looking statements, including statements containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are based upon information available to Innovo Group Inc. on the date of this release. Any forward-looking statement inherently involves risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products in the international marketplace, including in Japan; Itochu Corporation's ability to meet its obligations under the terms of the agreement announced in this release, as well as our own ability to meet our obligations under the agreement announced in this release; competitive factors in the international marketplace, as well as other risks detailed in the company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the company undertakes no obligation to update these statements for revisions or changes after the date of this release. Readers are cautioned not to place undue reliance on forward-looking statements.


Contact:
     Contact:
     
     Innovo Group Inc.
     Dustin A. Huffine
     323-837-3700
     
--------------------------------------------------------------------------------
Source: Innovo Group Inc.

anybody in this?  New high of the year today, and weekly chart is very promising...