"Think of them as Apple AirPods, but built into stylish eyeglasses."

"Like Warby Parker, but with smart technology for hands-free phone use."

• Lucyd Lyte® glasses: Cutting-edge smart eyewear designed for all-day wear, enabling hands-free interaction with digital devices for music, calls, and voice assistant functions.
• Vyrb™: A proprietary social media application that allows users to send and receive voice-activated social media posts, audiobooks, podcasts, and music, enhancing interaction with Lucyd Lyte glasses and other hearables.

Innovative Eyewear (LUCY) primarily sells its Lucyd Lyte® smart glasses to individual consumers rather than other companies. Based on the product's features and marketing approach, the company serves the following categories of customers:

1. Tech-Forward and Connected Individuals: These customers are early adopters of wearable technology who prioritize staying digitally connected and appreciate the convenience of hands-free interaction with their smartphones, digital assistants, and social media platforms directly through their eyewear. They value seamless integration of technology into their daily lives.
2. Style-Conscious Consumers Seeking Integrated Functionality: This category includes individuals who seek eyewear that combines designer aesthetics and comfort with advanced smart features. They desire a product that looks and feels like traditional high-quality eyewear but also provides the utility of smart glasses without compromising on style or a lightweight design.
3. Multitaskers and On-the-Go Lifestyle Users: Customers in this group benefit from the hands-free capabilities of Lucyd Lyte glasses for managing communications, navigation, and entertainment while engaged in various activities. They appreciate the ability to keep their phones in their pockets and interact with their digital world through voice commands, enhancing productivity and convenience during commutes, exercise, or daily errands.

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Harrison Gross, Chief Executive Officer

Harrison Gross is a co-founder of Innovative Eyewear and has served as its Chief Executive Officer and a director since August 2019. He guides the company's product and brand development. Prior to Innovative Eyewear, from August 2017 to August 2019, Mr. Gross held various positions, including chief executive officer and media & UX lead, at Lucyd Ltd., which is the licensor of Innovative Eyewear's technology and its largest stockholder. Lucyd Ltd. is a smart eyewear development company where he developed the brand identity and oversaw operations and product development. He also served as Digital Media Manager of Tekcapital PLC, a U.K. based university intellectual property investment firm and the parent company of Lucyd Ltd.. Mr. Gross is a patented wearables inventor, an app developer, and a co-creator of the Tekcapital IP search app and the Vyrb social app. He is a graduate of Columbia University.

Oswald Gayle, Chief Financial Officer

Oswald Gayle became the sole Chief Financial Officer of Innovative Eyewear on November 1, 2025. This leadership change reflected a strategic shift in the company's focus.

Konrad Dabrowski, Chief AI and Growth Officer

Konrad Dabrowski is a co-founder of Innovative Eyewear. He served as Chief Financial Officer on a part-time basis since August 2019, before transitioning to Chief AI and Growth Officer on November 1, 2025. Since June 2017, Mr. Dabrowski has also served as the group controller and chief financial officer of Tekcapital PLC, a university intellectual property investment firm, where he co-manages the group's investment strategy and oversees financial reporting for its portfolio companies. Prior to his employment at Tekcapital, from March 2016 to June 2017, he was a Global Accounting Manager for Restaurant Brands International.

David Eric Cohen, Chief Technology Officer

David Eric Cohen is a co-founder of Innovative Eyewear and has served as its Chief Technology Officer since September 2019. Before his employment at Innovative Eyewear, from August 2017 to August 2019, Mr. Cohen served as the chief technology officer of Lucyd Ltd., a smart eyewear development company, where he led the company's technological advancements and digital ad campaigns.

The key risks to Innovative Eyewear's business include:

1. Market Adoption and Intense Competition in the Smart Eyewear Sector: Innovative Eyewear aims to pioneer the "Upgrade Your Eyewear®" approach, establishing smart eyewear for all-day wear as a new standard in a rapidly evolving, technology-enhanced ecosystem. This market includes traditional eyewear, electronic in-ear devices ("hearables"), and digital assistants. The success of Innovative Eyewear heavily depends on widespread consumer adoption of smart eyewear and its ability to effectively compete against a diverse range of existing and emerging technologies and established players in these adjacent markets.

2. Reliance on Licensed Intellectual Property: Innovative Eyewear’s core business model is built upon the exclusive licensing of the Lucyd® brand and all associated intellectual property from Lucyd Ltd., a portfolio company of Tekcapital. This dependency means that any issues with the licensing agreement, the underlying intellectual property rights, or the financial stability and strategic direction of Lucyd Ltd. or Tekcapital, could significantly impact Innovative Eyewear’s operations and long-term viability.

3. Successful Development, Adoption, and Monetization of the Vyrb Social Media Platform: Innovative Eyewear has developed Vyrb, a social media application designed to enhance the utility of its smart glasses through voice-controlled social interaction. Vyrb launched out of beta in December 2021, and critical software upgrades, including monetization, ad-buying modules, and content selling capabilities, were planned for the fourth quarter of 2022. The success of Vyrb, including its ability to attract and retain users, compete with established social media platforms, and effectively monetize its features, is crucial for enhancing the appeal of Lucyd Lyte glasses and achieving anticipated revenue streams.

The clear emerging threat to Innovative Eyewear is the potential entry and dominance of major technology companies (such as Apple, Meta, Google, or Amazon) into the smart eyewear market. These companies possess immense financial resources, established brand recognition, extensive distribution networks, and mature integrated ecosystems (e.g., iOS, Android, Siri, Google Assistant). If a major tech company were to launch smart glasses that match or surpass Lucyd Lyte's aesthetic appeal and comfort, while offering superior technological integration, advanced features (potentially including subtle augmented reality capabilities), and seamless compatibility with their existing platforms and services, it could rapidly capture market share. Such a development would directly challenge Innovative Eyewear's "Upgrade Your Eyewear®" approach and its focus on integrating hearables and digital assistants, potentially rendering Lucyd Lyte less competitive and desirable in a rapidly evolving smart wearable landscape.

1. Expanded Product Portfolio and Brand Partnerships: The company expects continued growth from its diverse product mix, including the Lucyd Armor and Reebok collections, which have shown significant traction. Innovative Eyewear also develops and manufactures smart eyewear under the Nautica and Eddie Bauer brands, further broadening its market appeal and product offerings.
2. Broadened Distribution Channels and Market Penetration: A strengthened global fulfillment network is anticipated to support the company's efforts to secure placements in national retail and optical chains. Innovative Eyewear has already established partnerships with major retailers and B2B channels, including Reebok.com, SmartBuyGlasses, and Eye Recommend, which provides access to over 600 independent optical practices in Canada. The company is actively pursuing significant brick-and-mortar expansion with major US retailers.
3. Software and Technological Innovation: Innovative Eyewear is enhancing its software capabilities, notably by rebuilding the Lucyd app into an applet store for smartglasses and hearables. This update introduces features such as a 17-language real-time translation tool and secure walkie-talkie functionality. Additionally, the company is developing ChatGPT-enabled smart eyewear, which is expected to offer advanced functionalities and user experiences.
4. Growth in the Smart Safety Eyewear Market: The Lucyd Armor line of smart safety glasses has emerged as a significant revenue driver, becoming the company's fastest-selling product since its late 2024 launch. These glasses have obtained safety certifications in the United States, Canada, and the European Union, which positions them for substantial expansion within the smart safety eyewear sector.

Share Issuance

• In 2024, Innovative Eyewear raised approximately $2.6 million through a direct offering and a private placement.
• In April 2025, the company secured approximately $1.8 million in gross proceeds from a warrant inducement transaction.
• In June 2025, Innovative Eyewear announced $4.8 million in gross proceeds from the exercise of warrants.

Inbound Investments

• As of March 31, 2025, Innovative Eyewear had an agreement with a related party to borrow up to $1.25 million.