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Thursday, August 11, 2022

Innerscope Hearing Technologies Inc (OTCMKTS: INND) Breaking Out Northbound as Hearing Aid Pioneer Awaits Upcoming August 8 FDA Ruling on OTC Medical Devices

Innerscope Hearing Technologies Inc (OTCMKTS: INND) is making an explosive move into copperland in recent trading up another 8% today on $1.3 million in dollar volume. The stock has runner in its blood skyrocketing to $0.098 highs in early 2021 and is looking to make another big move now. INND has a massive and very loyal shareholder base who see big things coming here. Of note is the August 8 FDA hearing (medical devices: ear, nose and through devices: establishing over the counter hearing aids and aligning other regulations) which will make INND hearing aids more readily available to the public. INND is starting to attract mainstream press including Fox Business News, Bloomberg and a 12-part series by Newsmax. Management has been working hard behind the scenes getting the filings up to date on its way to becoming and SEC filer and fully reporting OTCQB. Speculators in INND and there are a lot of them are looking for a breakout over $0.098 and well beyond. 

It’s easy to get excited about INND, a manufacturer, distributor, and retailer of FDA-Registered Direct-to-Consumer Self-Fitting-Self-Adjusting Hearing Aids. The Company recently launched its latest breakthroughs in Hearing Technology with its New Smartphone Controlled Direct-to-Consumer Self-Fitting-Self-Adjusting Rechargeable Hearing Aids with built-in Professional Remote Programming & Support Service. With the launch planned to begin spring of 2021, InnerScope as a wholesale vendor for Walmart and is also in best buy as well as BJ’s Wholesale Club. The Company has seen significant growth through acquisition acquiring both of iHear Medical Inc., as well as 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. Earlier this year INND received a purchase order from Walmart USA in the amount of $9,462,232 for HearingAssist products. They also received another purchase order from Walmart for $1,583,922 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. Check out INND app here.

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InnerScope Hearing Technologies (OTC: INND) operating from professional drive in Roseville, California, INND is a 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 2021). 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.   

INND is led by CEO Matthew Moore who literally grew up in the hearing health industry, with having internships and mentorships beginning with his Grandfather who has personally helped over 20,000 hearing- impaired patients in his private hearing aid practice since the 1940s. At the age of 10, Matthew was working in the Marketing Department of his parents private hearing aid practice. By the age of 22, Matthew became a full partner in his parents hearing aid business, which then grew to one of the largest private hearing aid practices in the United States with over 70 locations and over 40,000 customers in a 10-year period. Several years ago, the family sold off the remaining locations for $14 million. As CEO of InnerScope, Mr. Moore has been making one big move after another recently forming distribution partnerships with Walmart, Sears, and other Big Box Retailers/Pharmacies as well as independent retailers and pharmacies for InnerScope’s Products and Services.  

INND operates in the booming hearing aids space; According to a report from Fortune Business Insights the global hearing aids market is set to gain impetus from the increasing adoption of telehealth among audiologists to prevent patient traffic. The report further states that the market size was USD 8.99 billion in 2019 and is projected to reach USD 13.38 billion by 2027, exhibiting a CAGR of 8.2% during the forecast period.  

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.

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INND

InnerScope Hearing Technologies (OTC: $INND) (@inndstock) / TwitterThe Company launched its hearIQ App in 172 countries in the Apple App Store for iOS devices and Google Play Store for Android devices. The hearIQ App is a multi-functional app, which offers to the general public a FREE Self-Administered Hearing Test to determine hearing loss (if any) and also provides a Bluetooth wireless connection (“App Controlled”) for InnerScope’s Direct-to-Consumer Self-Fitting-Self-Adjusting Hearing Aids. The hearIQ App is specifically designed to help with early detection of hearing loss for the 48+ million Americans as well as the 1.5 billion people worldwide who may have an undetected hearing loss or may be living with some degree of hearing loss, according to the World Health Organization (“WHO”). More importantly, if hearing loss is detected, the hearIQ App directly links to InnerScope’s Direct-to-Consumer Hearing Products. Since the hearIQ App became activated only nine days ago, it has already received over 440 reviews and has a FIVE-STAR RATING from Apple and Android users. 

FDA ruling coming on August 8: Medical devices: ear, nose and through devices: establishing over the counter hearing aids and aligning other regulations 

The Food and Drug Administration (FDA, we, or the Agency) is proposing to establish a regulatory category for over-the-counter (OTC) hearing aids and to make related amendments to update the regulatory framework for hearing aids. Specifically, we propose to define OTC hearing aids and establish applicable requirements; amend existing rules for consistency with a new OTC category; repeal the conditions for sale applicable to hearing aids; amend the existing labeling requirements for hearing aids; and update regulations relating to decisions on applications for exemption from Federal preemption that would become obsolete as a result of changes to the hearing aid requirements. This action, if finalized, would more clearly define prescription hearing aids; however, it would not change the classification of existing device types. In creating a regulatory category for OTC hearing aids and amending existing rules, we intend to provide reasonable assurance of safety and effectiveness for these devices as well as foster access to, and innovation in, hearing aid technology, thereby protecting and promoting the public health. 

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(INND) InnerScope Hearing Technologies, an exciting Company makes a move on the booming $5 billion dollar hearing aid market is making a powerhouse run up the charts in recent days attracting legions of new shareholders and emerging as among the top most traded stocks in small caps. Currently under heavy accumulation with INND trading $1.3 million plus in dollar volume today alone, INND is looking to blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension, a break over $0.098 is the first step. INND is well-positioned to directly benefit from the Over-the-Counter Hearing Aid Act which is expected to be voted on, on August 8; Its easy to get excited about INND, a manufacturer, distributor, and retailer of FDA-Registered Direct-to-Consumer Self-Fitting-Self-Adjusting Hearing Aids. Recently INND laucned its latest breakthroughs in Hearing Technology with its New Smartphone Controlled Direct-to-Consumer Self-Fitting-Self-Adjusting Rechargeable Hearing Aids with built-in Professional Remote Programming & Support Service. INND is starting to attract mainstream press including Fox Business News, Bloomberg and a 12-part series by Newsmax. 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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