SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* INNAVATION LLC (Last) (First) (Middle) (Street) (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol INNOVO GROUP INC [ INNO ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 09/19/2003
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/19/2003		X		650,000	A	$7.06	2,462,500	D
Common Stock	09/19/2003		S		184,136	D	$7.06	2,278,364	D
Common Stock	09/23/2003		X		750,000	A	$6.67	3,028,364	D
Common Stock	09/23/2003		S		224,888	D	$6.67	2,803,476	D
Common Stock	10/21/2003		S		13,500	D	$5.017	2,789,976	D
Common Stock	10/23/2003		S		26,300	D	$4.938	2,763,676	D
Common Stock	10/24/2003		S		5,400	D	$4.871	2,758,276	D
Common Stock	10/28/2003		S		50,000	D	$4.463	2,708,276	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Common Stock Warrants (right to buy)	$2	09/19/2003		X			650,000	10/30/2000	10/31/2003	Common Stock	650,000(1)	$7.06	0	D
Common Stock Warrants (right to buy)	$2	09/23/2003		X			750,000	10/30/2000	10/31/2003	Common Stock	750,000(2)	$6.67	0	D

1. Name and Address of Reporting Person* INNAVATION LLC (Last) (First) (Middle) (Street) (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* YARDWORTH MORTGAGE CORP A V V (Last) (First) (Middle) 105 PENSTRAAT (Street) CURACAO P8 00000 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* PRAHA TRUST (Last) (First) (Middle) 105PENSTRAAR CURACAO (Street) NERHERLANDS ANTILLES P8 0000 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* BRAUN SEYMOUR (Last) (First) (Middle) BRAUN & GOLDBERG 110 EAST 59TH STREET 3201 (Street) NEW YORK NY 10022 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. On September 19, 2003, the Reporting Entity exercised certain warrants held for his account. Pursuant to the terms of the warrant agreement, the Reporting Entity elected to pay the exercise price of the warrants by having the issuer withhold a number of shares equal to the exercise price.

2. On September 23, 2003, the Reporting Entity exercised certain warrants held for his account. Pursuant to the terms of the warrant agreement, the Reporting Entity elected to pay the exercise price of the warrants by having the issuer withhold a number of shares equal to the exercise price.

	/s/ Seymour Braun, as Trustee of Praha Trust, as owner of Yardworth, as majority owner of Innavation, LLC	10/29/2003
	/s/ Seymour Braun, as Trustee of Praha Trust, as owner of Yardworth	10/29/2003
	/s/ Seymour Braun, as Trustee of Praha Trust	10/29/2003
	/s/ Seymour Braun	10/29/2003
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.