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Friday, December 2, 2022

Innerscope Hearing Technologies Inc (OTCMKTS: INND) Big Reversal Northbound as Hearing Aids Co Receives Two Purchase Orders in April Totaling $11,046,154, from Walmart

Innerscope Hearing Technologies Inc (OTCMKTS: INND) continues to move steadily northbound since reversing off $0.002 lows. The stock is started to get noticed by penny stock speculators are and is currently under accumulation trading $300,000 in dollar volume on Friday alone. INND got a boost after the Company filed an 8k reporting they have received two purchase orders in April 2022 from Walmart USA for $1,583,922 and $9,462,232 totaling $11,046,154, for products launching in 1499 Walmart Vision Centers. The first purchase order of $1,583,922 of products is en route to Walmart USA Warehouse for immediate deployment. The second purchase order of $9,462,232 of products is in the final production phases for late June/July deployment. 

InnerScope’s recent acquisition of iHear Medical Inc., a  DTCcloud-based hearing solution provider, gives the Company access to over 40 patents and an FDA-registered manufacturing and R&D facility. In addition, 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 A.I. smart devices, will allow InnerScope to better position itself in the direct-to-consumer hearing solutions market by selling advanced hearing products through Walmart and other major retailers. INND is well positioned to capitalize in on the upcoming emerging over-the-counter hearing aid device market with the Over-the-Counter Hearing Aid Act that Congress passed (expected to be enacted within the 3rd or 4th quarter of 2022) which allows hearing aids to be sold in retail stores and pharmacies without a prescription or be seen by a hearing professional.

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Innerscope Hearing Technologies Inc (OTCMKTS: INND) operating out of Roseville, California is a leading Direct-to-Consumer (DTC) manufacturer and distributor of FDA-registered hearing aids, hearing assistive devices, hearing health-related products, and Personal Sound Amplifier Products dedicated to addressing the global demand for affordable hearing solutions. InnerScope’s Hearing Products and its business model break through the persistent barriers that prevent access to effective hearing solutions. 

INND is the manufacturer, distributor, and retailer of FDA-Registered Direct-to-Consumer Self-Fitting–Self-Adjusting Hearing Aids, Self-Fitting–Self-Adjusting Personal Sound Amplifiers Products, Doctor-Formulated Dietary Hearing & Tinnitus Supplements, and Assorted Ear & Hearing Health-Related Products its mission is to improve the quality of life of the 70 million people in North America 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 to directly benefit from the Over-the-Counter Hearing Aid Act (expected to be enacted in early summer 2022. InnerScope with its Affordable Self-Fitting – Self-Adjusting Hearing Technology, combined with its innovative point of sale Hearing Screening Kiosks designed for consumers with mild-to-moderate hearing loss to purchase over-the-counter hearing aids without being seen by a hearing care professional.    

Through its dedicated online store, MyHearIQ.com, and its multiple wholesale and retail partnerships, InnerScope offers direct-to-consumer affordable, FDA-Registered, Bluetooth app-controlled, self-adjusting hearing technology to empower consumers to take control of their hearing care. InnerScope’s HearIQ app-controlled, self-adjusting hearing technology allows the customer, in less than 10 minutes using any smartphone, to personalize each hearing device to their hearing needs using an on-board In-Ear Custom-Fit Self-Testing feature. 

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INND

InnerScope can deliver the same level and quality of hearing technology and professional expert support for the customer from their homes at a fraction of the cost of traditional channels. The company’s product line features Bluetooth app-controlled hearing aid devices, Bluetooth app-controlled personal sound amplification devices, hearing aid batteries, and more. All hearing aids are FDA-Registered, medical-grade devices and include professional remote programming and support services with one of InnerScope’s licensed hearing professionals through the HearIQ App. 

INND has seen significant growth over the past year which has positioned the Company well in the new upcoming emerging over-the-counter hearing aid device market with the Over-the-Counter Hearing Aid Act that Congress passed (expected to be enacted within the 3rd or 4th quarter of 2022) which allows hearing aids to be sold in retail stores and pharmacies without a prescription or be seen by a hearing professional. INND has made two recent acquisitions and numerous wholesale vendor agreements with major retailers and pharmacy chains, including its wholly-owned subsidiary, HearingAssist, Walmart’s largest wholesale hearing device supplier. 

The U.S. hearing aid device market is a $5 billion dollar market. Ninety-eight percent (98%) of all hearing aids are sold and fit by hearing care professionals in brick-and-mortar clinics (the “Current Sales & Delivery Model”). However, the Current Sales & Delivery Model only has a market penetration of about fourteen percent (14%) of the approximate 70 million people in North America alone who have some form of hearing impairment. The low market penetration is mainly due to high costs (average range between $2,000 to $4000 per year) and lack of accessibility to hearing screening tests and affordable hearing aids. The OTC Hearing Aid Act will give greater access through major retailers and pharmacy chains to provide more affordable hearing aids by cutting out the middleman (the hearing care professional). 

InnerScope’s full line of Hearing Health products is currently available through these multiple retail/wholesale channels: Walmart.com, Walmart Canada, RiteAid.com, Amazon.com, Giant Eagle, Hy-Vee, Hartig Drug, Food City, and Cardinal Health dba R.G.H. Enterprises Inc., which provides InnerScope products to FSAStore.com, HSAStore.com, & WellDeservedHealth.com. Additional in-store and online through major retailers and pharmacy chains are launching soon. 

Recently the Company’s subsidiary HearingAssist II Inc. signed a wholesale vendor agreement with Best Buy Co. Inc. to sell its HearingAssist branded hearing aids and related ear care, hearing aid cleaning products and hearing aid supplies to be sold in the US and Puerto Rico Best Buy brick and mortar stores and on BestBuy.com. As a result of the Agreement, HearingAssist has successfully launched some of its HearingAssist Products on BestBuy.com. Now available to Best Buy customers on www.BestBuy.com 

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Currently trading at a $39 million market valuation INND is moving steadily northbound since reversing off $0.002 lows. The stock is started to get noticed by penny stock speculators are and is currently under accumulation trading $300,000 in dollar volume on Friday alone. INND got a boost after the Company filed an 8k reporting they have received two purchase orders in April 2022 from Walmart USA for $1,583,922 and $9,462,232 totaling $11,046,154, for products launching in 1499 Walmart Vision Centers. The first purchase order of $1,583,922 of products is en route to Walmart USA Warehouse for immediate deployment. The second purchase order of $9,462,232 of products is in the final production phases for late June/July deployment. InnerScope’s recent acquisition of iHear Medical Inc., a  DTCcloud-based hearing solution provider, gives the Company access to over 40 patents and an FDA-registered manufacturing and R&D facility. In addition, 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 A.I. smart devices, will allow InnerScope to better position itself in the direct-to-consumer hearing solutions market by selling advanced hearing products through Walmart and other major retailers. INND is well positioned to capitalize in on the upcoming emerging over-the-counter hearing aid device market with the Over-the-Counter Hearing Aid Act that Congress passed (expected to be enacted within the 3rd or 4th quarter of 2022) which allows hearing aids to be sold in retail stores and pharmacies without a prescription or be seen by a hearing professional. We will be updating on INND when more details emerge so make sure you are subscribed to Microcapdaily.

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Disclosure: we hold no position in INND either long or short and we have not been compensated for this article

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