Investment Value Analysis of Insider Share Purchase by Major Shareholder of Innovative Eyewear Inc (LUCY) Disclosed in Form 13D

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Pursuant to the amended Schedule 13D/A filing submitted to the U.S. Securities and Exchange Commission (SEC) [1], Vladimir Galkin, director and 10% major shareholder of Innovative Eyewear Inc, submitted the 9th amendment on

, with the event date of the filing being .

Filing Element	Details
Filer	Vladimir Galkin
Identity	Director, 10% Shareholder
Company Address	11900 Biscayne Blvd, Ste 630, Miami, FL 33181
Security Class	Common Stock (Par Value $0.00001 per Share)
CUSIP Number	45791D109
Shareholding Ratio	12.1%
Number of Shares Held	647,505 Shares

According to the Form 4 filing [2], Galkin conducted multiple share purchases between December 29, 2025, and January 2, 2026:

Transaction Date	Transaction Type	Number of Shares Purchased	Transaction Price	Shares Held After Transaction	Transaction Amount
2025-12-29	Purchase (P)	46,107	$1.10	749,900	$50,717.70
2025-12-30	Purchase (P)	11,303	$1.08	738,597	$12,207.24
2025-12-31	Purchase (P)	89,830	$0.99	648,767	$88,931.70
2026-01-02	Purchase (P)	1,262	$0.97	647,505	$1,224.14

:

• Total Shares Purchased:
  148,502 Shares
• Average Purchase Price:
  $1.03
• Total Investment Amount:
  $153,080.78

It is important to note that the continuous “decline” in the number of shares held by Galkin (from 749,900 to 647,505) may be due to the transfer of shares to joint account holder Angelica Galkin (his spouse), rather than a share sale [2].

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Innovative Eyewear Inc announced record 2025 results on January 7, 2026 [3][4]:

Financial Indicator	2025	2024	Year-over-Year Change
Annual Sales	$2.7M	$1.6M	+65%
Q4 Sales	~$1.0M	~$0.69M	+45%
Q3 Sales	$668,128	$254,000	+163%

Indicator Category	Indicator Name	Value	Evaluation
Valuation	Market Capitalization	$7.96M	Micro-Cap Stock
	Current Stock Price	$1.74	-
Profitability	ROE	-140.85%	Not Yet Profitable
	Net Profit Margin	-322.02%	Sustained Losses
Liquidity	Current Ratio	11.98	Extremely Strong
	Quick Ratio	11.39	Extremely Strong
Debt Risk	Risk Rating	Low	Conservative Financial Policy
Valuation	EV/OCF	0.81	Relatively Reasonable

1. Market Position in Smart Eyewear
   • Holds approximately
     44%
     market share in Amazon’s smart safety eyewear market [3]
   • Owned brands include Lucyd®、Lucyd Armor®、Reebok®、Eddie Bauer®、Nautica®

2. AI Integration Capability
   • Products can seamlessly integrate with multiple AI platforms
   • Smart eyewear integrates functions such as voice assistant, real-time translation, and health monitoring

3. Channel Expansion
   • Established a partnership with SmartBuyGlasses
   • Global fulfillment network supports expansion across hardware, retail, and optical channels

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Based on market data analysis [0]:

Time Period	Price Range	Performance
Pre-Event (Dec 1-29)	$1.51 → $0.95	-37.1%
Event Period (Dec 30)	$0.95 → $1.55	+63.2%
Post-Event (Dec 30 - Jan 7)	$1.55 → $1.74	+12.3%
5-Day Event Return	Event Low → Post-Event High	+39.20%

Period	Average Daily Trading Volume	Multiples of Change
Pre-Event (Dec 1-19)	~6,000,000 Shares	1.0x
Event Period (Dec 20-30)	~15,000,000 Shares	2.5x
Post-Event (Dec 31 - Jan 7)	42,000,000 Shares	7.0x

Indicator	Value	Interpretation
20-Day Moving Average	$1.33	Stock price above moving average, bullish pattern
Volatility (Daily Standard Deviation)	11.02%	High Volatility
1-Year Price Change	-72.20%	Long-term trend remains weak
YTD Gain	+52.63%	Strong recent rebound

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Signal Type	Specific Performance	Impact Level
Insider Purchase	Galkin accumulated share purchases totaling $153,000	★★★★★
Shareholding Stability	Maintains a high 12.1% equity stake	★★★★☆
Management Confidence	The company simultaneously announced a management share purchase plan	★★★★☆
Financial Health	Current ratio of 11.98 + low debt risk	★★★★☆
Business Growth	65% annual revenue growth, validating the business model	★★★★★

Risk Type	Specific Performance	Impact Level
Profitability	Sustained losses, negative ROE	★★★★☆
Market Capitalization Size	$7.96M, micro-cap stock liquidity risk	★★★★★
Stock Price Volatility	Daily volatility exceeds 11%	★★★☆☆
Market Recognition	Covered by only 1 analyst	★★★☆☆
Competitive Landscape	Fierce competition in the smart eyewear market	★★★☆☆

Pursuant to the filing requirements of Schedule 13D, as a beneficial owner holding more than 5% of the company’s shares, Galkin is required to disclose:

1. Purpose of Purchase
   : Typically includes acquisition of control, strategic investment, or purely financial investment
2. Agreement Arrangements
   : Any agreements related to corporate governance, if applicable
3. Source of Funds
   : Ensure compliance and transparency of the investment

Although the filing does not detail the specific purpose, it can be inferred from the following signs:

• Galkin participates in corporate governance as a director
• Continuous share purchases indicate confidence in the company’s long-term development
• Joint shareholding with his spouse may involve family wealth planning

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Valuation Method	Valuation Result	Remarks
Market Capitalization Method	$7.96M	Current market price
EV/OCF	0.81x	Relatively undervalued
P/S (Price-to-Sales Ratio)	~2.95x	Based on $2.7M in sales

                    Investment Value Evaluation
    ┌────────────────────────────────────────────────┐
    │                                                │
    │  Strong Growth  │ 65% annual growth + 44% Amazon share  │
    │                 │ → Sufficient insider confidence ✓     │
    │                                                │
    │  High Risk      │ Sustained losses + micro-cap + high volatility │
    │                 │ → Strict risk control required ⚠       │
    │                                                │
    │  Strong Support │ Current ratio 11.98 + low debt risk    │
    │                 │ → Financially sound ✓                 │
    │                                                │
    │  Mid-Term Potential │ AI eyewear market growth + brand matrix expansion │
    │                     → Growth potential exists ↔                         │
    │                                                │
    └────────────────────────────────────────────────┘

Dimension	Evaluation	Recommendation
Suitable Investors	High-risk tolerance, growth-oriented investors	Appropriate allocation
Entry Timing	Current stock price of $1.74, lower than average purchase price of $1.03	Consider phased position building
Target Price	Conservative: $2.50	Moderate: $4.00
Stop-Loss Price	$1.20	Re-evaluate if broken
Investment Horizon	6-12 months	Need to track Q4 financial report

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The chart above shows:

1. Top Left
   : Stock price trend and Form 13D event timeline
2. Top Right
   : Significant surge in trading volume after the event
3. Middle Left
   : Details of Galkin’s Form 4 transactions and price trend
4. Middle Right
   : Strong revenue growth performance in 2025
5. Bottom Left
   : Multi-dimensional evaluation matrix of investment value
6. Bottom Right
   : Summary of key data from Form 13D filing

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The

revealed in the Form 13D filing has a on the investment value of Innovative Eyewear Inc, mainly reflected in the following aspects:

1. Insider Endorsement
   : As a director and major shareholder, Galkin purchased shares at an average price of $1.03 totaling $153,000, indicating strong confidence in the company’s long-term development [1][2]

2. Business Validation
   : The company achieved 65% sales growth in 2025, validating the feasibility of its smart eyewear business model [3][4]

3. Financial Soundness
   : Extremely strong liquidity and low debt risk provide financial support for sustained development

4. Positive Market Reaction
   : After the Form 13D event, the stock price rebounded by 39.20% and trading volume surged 7 times, indicating positive market interpretation of this news

: The company is still in a loss-making state, and its micro-cap market capitalization brings liquidity risks. Investors should strictly control positions and set stop-loss levels.

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[1] WhaleWisdom - GALKIN VLADIMIR Schedule 13D/A Filing (https://whalewisdom.com/filing/galkin-vladimir-sc-13da-2026-01-02-lucy)

[2] StockTitan - Innovative Eyewear director reports multiple common stock trades (https://www.stocktitan.net/sec-filings/LUCY/form-4-innovative-eyewear-inc-insider-trading-activity-5061ba9c4ee7.html)

[3] Yahoo Finance - Innovative Eyewear, Inc. Announces Record-Breaking 65% Annual Sales Growth (https://finance.yahoo.com/news/innovative-eyewear-inc-announces-record-130000636.html)

[4] PRNewswire - Innovative Eyewear, Inc. Announces Record-Breaking 65% Annual Sales Growth in 2025 (https://www.prnewswire.com/news-releases/innovative-eyewear-inc-announces-record-breaking-65-annual-sales-growth-in-2025--insider-buying-intent-302654534.html)

[5] StockTitan - Innovative Eyewear posts 65% 2025 sales growth, execs plan buys (https://www.stocktitan.net/news/LUCY/innovative-eyewear-inc-announces-record-breaking-65-annual-sales-54yr2zhr1dpm.html)

[0] Gilin API Data - Market Data and Financial Analysis of Innovative Eyewear Inc (LUCY)