Innovative Eyewear, Inc. Schedule 13G/A reports that three related Reporting Persons — Mitchell P. Kopin, Daniel B. Asher and Intracoastal Capital LLC — may be deemed to beneficially own 699,295 shares of common stock, representing 9.99% of the class as of the close of business on March 31, 2026.
The filing states the 9.99% figure is calculated using 6,300,661 shares outstanding as of March 25, 2026 plus the 699,295 shares issuable upon exercise of a warrant held by Intracoastal ("Intracoastal Warrant 1"). The filing explains multiple warrants contain blocker provisions that limit exercise to avoid exceeding 9.99% or 4.99% ownership caps; without those blockers the Reporting Persons could be deemed to beneficially own 2,266,741 shares.
Innovative Eyewear, Inc. uses its Form 10-K to describe a growing but still unprofitable smart-eyewear business built around Lucyd-branded audio glasses, licensed Nautica, Eddie Bauer, and Reebok lines, and a companion Lucyd app that integrates ChatGPT and other voice assistants.
The company sells about 34 models through e-commerce and over 400 retail stores, supported by kiosks and influencer marketing, and holds or licenses more than 120 patents and numerous trademarks. It reported a net loss of $7.5 million for 2025 and $7.8 million for 2024, with an accumulated deficit of $32.3 million as of December 31, 2025, and a non-affiliate equity market value of about $6.993 million as of June 30, 2025.
Key risks include intense competition from large tech and eyewear brands, reliance on Chinese manufacturing amid shifting U.S. tariffs, potential Nasdaq delisting if listing standards are not met, the need for additional capital, and $13.57 million of minimum licensing payments over eight years for its major cobranded collections.
Innovative Eyewear Inc. (LUCY) received an updated ownership report showing that Mitchell P. Kopin, Daniel B. Asher and Intracoastal Capital LLC together report beneficial ownership of 593,804 shares of common stock issuable upon exercise of a warrant held by Intracoastal. This position represents approximately 9.99% of the common stock, based on 5,350,183 shares outstanding as of November 6, 2025 plus the shares underlying that warrant. Additional warrants held by Intracoastal could increase this to 2,328,217 shares, but “blocker” provisions limit exercises that would push ownership above 9.99% or 4.99%, depending on the warrant. The reporting persons share voting and dispositive power over the 593,804 warrant shares and certify that the securities are not held to change or influence control of the company.
Innovative Eyewear Inc. investor reports an 8.42% ownership stake. Individual shareholder Kelly Joseph Chapman has beneficial ownership of 450,440 shares of the company’s common stock, with sole voting and dispositive power over all of these shares.
The filing is made on a Schedule 13G/A, which is generally used for passive holdings, and includes a certification that the securities were not acquired to change or influence control of Innovative Eyewear Inc.
Innovative Eyewear Inc. received a new large shareholder disclosure from individual investor Kelly Joseph Chapman. As of the event date, Chapman reported beneficial ownership of 343,023 shares of Innovative Eyewear common stock, representing 6.41% of the class. The filing states that Chapman has sole power to vote and dispose of all 343,023 shares, with no shared voting or dispositive power.
The Schedule 13G identifies Chapman as a U.S. individual investor, not part of any group and not acting through subsidiaries. Chapman certifies that the securities were not acquired and are not held for the purpose of changing or influencing control of Innovative Eyewear, and are not held in connection with any control-related transaction other than activities solely in connection with a nomination under the specified proxy rule.