InnerScope Hearing Technologies, Inc. (OTCMKTS: INND) is trading just over its 52-week lows and speculators are looking for a significant reversal. The stock has a long history of big moves skyrocketing to highs near a dime in early 2021 and making another big run last year from current levels to highs near $0.03. Just months after the FDA ruling which allows 30 million Hearing Impaired Americans to buy Hearing Aids Without a Prescription – InnerScope’s whose hearing aids are already featured in thousands of locations national wide including Walmart, Vision Centers, Walmart.com, Walmart Canada, CVS.com, RiteAid.com, Bestbuy.com, Amazon.com, to name a few just launched several new line of over-the-counter (OTC) rechargeable hearing aids on CVS.com, the online storefront for CVS Health Corp. The Company’s hearing aid models feature a range of cutting-edge features like Bluetooth capabilities, noise reduction, and directional microphone technology – all selling at a fraction of the price of traditional prescription models.
Before the FDA ruling, getting hearing aids required a medical exam, prescription, and fitting done by an audiologist and cost from $4,000 to $6,000 on average. Now, customers can now buy Innerscope’s over-the-counter hearing aids starting at $499. This has resulted in rapid, exponential growth for Innerscope which recently reported $6,564,682 in revenues for the 3 months ended September 30, 2022. Now pulling in well over $2 million per month, Innerscope is among the higher revenue earners on the bulletin boards. Innerscope management is also working hard behind the scenes recently reporting its Accounting Firm, & Auditors are working to provide ‘21 & ‘22 Audited Financials ETA of 8 weeks. Once completed, INND will file Form 10 or S-1 to become SEC Reporting and OTCQB. Innerscope also recently launched a print ad campaign “Hearing Made Easy” featured in the Official Super Bowl LVII (57) Game Program with a circulation of nearly 1,000,000 hard copies. We will be updating on INND when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.
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InnerScope Hearing Technologies, Inc. (OTCMKTS: INND) is a manufacturer and a distributor/retailer of Direct-to-Consumer FDA registered hearing aids, personal sound amplifier products, hearing-related treatment therapies, and doctor-formulated dietary hearing supplements. The Company’s mission is to improve the quality of life of the 70 million people in North America and the 1.5 billion people worldwide who suffer from hearing impairment and/or hearing-related issues. The management team of InnerScope is applying decades of industry experience and believes it is well-positioned with its innovative in-store point-of-sale Free Self-Check Hearing Screening Kiosks to directly benefit when the Over-the-Counter (OTC) Hearing Aid Act becomes enacted (expected in 4th quarter of 2022) (the OTC Hearing Aid Law allows OTC hearing aids for mild to moderate hearing losses to be sold in retail stores without a prescription or having to see a professional). The Hearing Kiosk is designed for the tens of millions of Americans with undetected/untreated mild-to-moderate hearing losses to treat themselves with the Company’s easy, convenient, and affordable hearing products.
InnerScope’s Hearing Products and its business model allow breaking through the persistent barriers that prevent access to effective hearing solutions. For example, the Company’s recent acquisition of iHear Medical Inc., a DTC cloud-based hearing solution provider, gives access to over 40 patents and an FDA-registered manufacturing and R&D facility. In addition, the InnerScope has acquired HearingAssist, an established leader in the direct-to-consumer hearing aid market with a customer base of over 400,000. These acquisitions, combined with a partnership with Atlazo Inc., a semiconductor innovator for next-generation AI smart devices, allows InnerScope to take the lead position in the direct-to-consumer hearing solutions market by selling innovated proprietary advanced hearing products through Walmart and other major Big Box retailers.
InnerScope’s full line of FDA-Registered Hearing Aids, PSAPs and Hearing Health products are currently available through multiple retail/wholesale channels: Walmart, Walmart.com, Walmart Canada, RiteAid.com, BestBuy.com, Amazon.com, Giant Eagle, Hy-Vee, Hartig Drug, Food City, and Cardinal Health dba RGH Enterprises Inc., which provides the Company’s products to FSAStore.com, HSAStore.com, and WellDeservedHealth.com. In addition, InnerScope’s Hearing Products will soon be available with more major retailers and pharmacy chains for in-store and online purchases.
InnerScope has been building a valuable intellectual property portfolio; with the asset purchase of iHear Medical Inc. we acquired access rights and license to over 40 U.S. patents for hearing aid technology. This includes 100% ownership to the only FDA-Cleared in-home hearing test, called the iHearTest. We also have numerous copyrights, trademarks, and inventions assignment agreements to protect our intellectual property rights. We have two provisional patents filed that may not result in issued patents. We cannot be certain that any of the steps we have taken will prevent the misappropriation of our intellectual property, particularly in foreign countries where the laws may not protect our proprietary rights in these countries as fully as in the United States.
$INND Finance Team, Accounting Firm, & Auditors are working to provide ‘21 & ‘22 Audited Financials ETA of 8 weeks. Once completed, file a Form 10 or S-1 to become SEC Reporting.
Meanwhile, $INND is rapidly growing; '22 vs ‘21 = 2,000%+ growth, looking for HUGE growth in 2023! pic.twitter.com/qkA7bOTgzQ
— InnerScope Hearing Technologies (OTC: $INND) (@inndstock) February 23, 2023
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In a milestone moment for InnerScope; in August of last year the FDA released the “Final Rule” (FDA Finalizes Historic Rule Enabling Access to Over-the-Counter Hearing Aids for Millions of Americans | FDA) for creating a new category of Over-the-Counter hearing aids for perceived mild to moderate hearing losses to be sold directly to consumers in retail stores, pharmacies and online without a medical exam or being fitted by a hearing healthcare professional. the OTC Hearing Aid Law opens a new emerging market for hearing aids sales, potentially in the tens of billions of dollars. InnerScope, with its Network of Wholesale Retailers, is ready to deliver its affordable OTC hearing aids to tens of millions of Americans.
Recently Innerscope launched four models of iHEAR branded Over-the-Counter Rechargeable Hearing Aids on CVS.com. The launch of the iHEAR OTC Hearing Aids on CVS.com provides InnerScope with a much broader market penetration and distribution channel through CVS Health, the largest U.S. pharmacy chain.
InnerScope’s iHEAR OTC Rechargeable Hearing Aids offers the latest hearing technology, including models with Bluetooth wireless app-controlled technology using a smartphone or tablet. In addition, two models provide full audio streaming for hands-free phone calls, listening to music or podcasts, and noise reduction with directional microphone technology for better speech understanding in noisy environments. All iHEAR’s OTC Rechargeable Hearing Aids come with a pocket-size charging unit that holds up to 3 to 4 charges, each lasting up to 18 to 24 hours* on a single charge (*without audio streaming.) Typically, hearing aids with the same technology and features sold and fit by hearing healthcare professionals in traditional clinics would cost between $4,000 to $6,000 a pair or higher. However, customers can now buy the iHEAR OTC Rechargeable Hearing Aids starting at $499.99 after the new FDA rule.
More recently Innerscope launched its FDA-Registered Over-the-Counter Rechargeable Hearing Aids (“HearingAssist Rechargeable OTC Hearing Aids”) on CVS.com. In addition, HearingAssist OTC Hearing Aids was also launched in eight selected CVS pharmacy locations in Massachusetts and Rhode Island. The launch of HearingAssist Rechargeable OTC Hearing Aids on CVS.com is the latest in a series of launches with CVS and CVS.com. InnerScope having both HearingAssist and iHEAR brands of OTC Hearing Aids listed on CVS.com will give a greater market presence within the OTC hearing aid category in CVS and on CVS.com.
CEO Matthew Moore said: “This latest launch of HearingAssist OTC Rechargeable Hearing Aids with CVS and on CVS.com is a result of our continuing efforts to execute our wholesale distribution plan. Having both InnerScope’s Hearing Assist and iHEAR OTC Hearing Aid brands listed on CVS.com and HearingAssist Rechargeable OTC Hearing Aids in eight selected CVS pharmacies expands InnerScope’s category presence within CVS’s OTC Hearing Aid market segment. We believe that when customers compare all the features of HearingAssist and iHEAR OTC Hearing Aids deliver against the cost and features of the other competitors, we will come out ahead.”
$INND Congrats to those who got that dip at the opening bell ! The longs will win! Blocking the haters/bashers. pic.twitter.com/OvM3j2x1rM
— Jack Sparrow (@hrdrock2) February 22, 2023
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Currently trading at a $36 million market valuation INND os is 8,532,457,061 with around 6,750,117,724 shares in the public float. The Company has a strong balance sheet with $25 million in assets vs. $12 million in liabilities and exponential growth in revenues recently reporting $6,564,682 in revenues for the 3 months ended September 30, 2022. As we said INND is now pulling in well over $2 million per month Innerscope is among the higher revenue earners on the bulletin boards. Innerscope management is also working hard behind the scenes recently reporting its Accounting Firm, & Auditors are working to provide ‘21 & ‘22 Audited Financials ETA of 8 weeks. Once completed, INND will file Form 10 or S-1 to become SEC Reporting and OTCQB. Currently sitting just over 52-week lows, INND has a large shareholder base and a history of big highly liquid moves. We will be updating on INND when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.
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Disclosure: we hold no position in INND either long or short and we have not been compensated for this article.