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Wednesday, December 1, 2021

Innerscope Hearing Technologies Inc (OTCMKTS: INND) Move Northbound Brewing on iHEAR Acquisition & LOI to Acquire Hearing Assist LLC

InnerScope Hearing Technologies, Inc. (OTC PINK: INND) is racing up the charts after the Company announced an LOI to acquire Hearing Assist II LLC and is expected to close on Nov. 15, 2021. HearingAssist has sold more than 500,000 hearing aids to nearly 400,000 customers via direct-to-consumer or through retail partners. They were the first direct-to-consumer hearing aid company to use mass national television marketing to create a recognizable brand as America’s #1 Affordable Hearing Brand. Since HearingAssist launched its acclaimed television spot in April 2018 on major national TV networks, it has generated more than $72 million of top-line revenue through July 2021. HearingAssist’s products are currently displayed in over 757 Walmart’s in five states. In addition, HearingAssist has multiple vendor contracts signed and expansions currently underway with Walmart and other retailers. With the expected Over-the-Counter Law coming into effect in 2022, HearingAssist brand revenue projections are expected to exceed $150 million annualized by 2024. 

INND is an investors favorite that is getting noticed by some big players as the Company launches 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. InnerScope is a wholesale vendor for Walmart and was recently accepted into BJ’s Wholesale Club operating 215+ Locations in 17 States. INND has seen tremendous growth through acquisition recently acquiring iHEAR Medical Inc. based in San Leandro, California. The Acquisition expands InnerScope’s products and services to include the iHEARtest™, the only FDA-Cleared home hearing screener (FDA Clears Home Hearing Test on ABC7 / 2018), advanced FDA-Registered hearing aids, and the TReO™ Personal Sound Amplification Product (PSAP). Assets acquired in the transaction include iHEAR’s FDA-Registered manufacturing facility, R&D center, and shipping operations in San Leandro, California. InnerScope is starting to attract mainstream press including Fox Business News, Bloomberg and a 12-part series by Newsmax. 

InnerScope Hearing Technologies, Inc. (OTC PINK: INND) is a leading manufacturer and distributor of FDA-registered hearing aids, hearing assistive devices, hearing health-related products, and Personal Sound Amplifier Products (PSAPs) (“Hearing 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. With the recent Acquisition of iHear Medical Inc., a cloud-based hearing solution provider with access to over 40 patents, and the completion of the Acquisition of HearingAssist, an established leader in the direct-to-consumer hearing aid market for more than 13 years, InnerScope’s is positioned to expand its distribution partnership network and its leadership in the direct-to-consumer hearing solutions market with advanced Hearing Products offered at a fraction of the cost of conventional hearing aids sold in hearing aid centers.  

InnerScope Hearing Technologies (OTC: $INND) on Twitter: "$INND Update: $ INND & NYSE Retailer Joint PR will be out soon. Until then, Basic MUTUAL  Conservative Financial Projection from this ONE Retailer: 60,800 unitsThe Company is led by CEO Matthew Moore who 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.   

The 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.  

  

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INND is rapidly growing through acquisition; in October they acquired all assets and operations of iHEAR Medical Inc. based in San Leandro, California. iHEAR, founded in 2010, pioneered online direct-to-consumer hearing solutions (iHear Medical on ABC7 KGO / 2013). The Acquisition bolsters InnerScope’s position as the leader in the emerging market of direct-to-consumer (“DTC”) and over-the-counter (“OTC”) hearing products. The Acquisition expands InnerScope’s products and services to include the iHEARtest™, the only FDA-Cleared home hearing screener (FDA Clears Home Hearing Test on ABC7 / 2018), advanced FDA-Registered hearing aids, and the TReO™ Personal Sound Amplification Product (PSAP). The Acquisition also expands InnerScope’s customer base and provides access to iHEAR’s established retail and contracted distribution channels. Assets acquired in the transaction include iHEAR’s FDA-Registered manufacturing facility, R&D center, and shipping operations in San Leandro, California. 

INND is making an explosive move northbound after the Company announced it has entered into an LOI to acquire 100% of the equity in Hearing Assist II LLC. The LOI was executed on Oct. 19, 2021, and currently, InnerScope and HearingAssist are working on the definitive agreement with the expected close date of Nov. 15, 2021. HearingAssist has sold more than 500,000 hearing aids to nearly 400,000 customers via direct-to-consumer or through retail partners. HearingAssist was the first direct-to-consumer hearing aid company to use mass national television marketing to create a recognizable brand as America’s #1 Affordable Hearing Brand. Since HearingAssist launched its acclaimed television spot in April 2018 on major national TV networks, it has generated more than $72 million of top-line revenue through July 2021. HearingAssist’s products are currently displayed in over 757 Walmart’s in five states. In addition, HearingAssist has multiple vendor contracts signed and expansions currently underway with Walmart and other retailers. With the expected Over-the-Counter Law coming into effect in 2022, HearingAssist brand revenue projections are expected to exceed $150 million annualized by 2024. 

HearingAssist has a full lineup of affordable, high-quality rechargeable hearing aids, a digital TV listener device, and various hearing aid accessories. In addition, HearingAssist also has an exclusive intellectual property right to distribute and the option to purchase two patents for its hearing aids. 

InnerScope expects the Acquisition of HearingAssist, its management team, proven sales track record, strategic contracts with numerous major retailers, and the national marketing campaign to elevate InnerScope as the number one direct-to-consumer hearing aid sales company in the market. Moreover, with InnerScope’s recent Acquisition of iHear Medical Inc. and its experienced research and development team, its FDA-Registered hearing aid manufacturing facility and its 40+ patents strengthen InnerScope’s competitive edge over all other DTC / OTC companies. The Acquisition of HearingAssist and iHear Medical Inc. completes InnerScope’s business model strategy by integrating “Big Box” wholesale/retail distribution partners with its innovated patented proprietary Hearing Products. 

Mr. Matthew Moore, President, and CEO of InnerScope went on to state: “InnerScope and its management team are excited about the Acquisition of HearingAssist. The Acquisition will leverage our combined expertise and resources to accelerate our business development to the next level. InnerScope’s management team has strived to build a company that can compete with the “Big-Five” global manufactures, which control 98% of all hearing aids sold of the $10+ billion-dollar market. We believe that the Acquisitions of HearingAssist and iHear Medical Inc. has positioned InnerScope to bring innovative patentable hearing technology to market, which will directly compete with the “Big-Five” in market share. We also expect the Acquisition of HearingAssist from the strategic placement of the product display located inside 757 Walmart stores will generate immediate sales revenue for InnerScope.” 

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INND is racing up the charts after the Company announced an LOI to acquire Hearing Assist II LLC and is expected to close on Nov. 15, 2021. HearingAssist has sold more than 500,000 hearing aids to nearly 400,000 customers via direct-to-consumer or through retail partners. They were the first direct-to-consumer hearing aid company to use mass national television marketing to create a recognizable brand as America’s #1 Affordable Hearing Brand. Since HearingAssist launched its acclaimed television spot in April 2018 on major national TV networks, it has generated more than $72 million of top-line revenue through July 2021. HearingAssist’s products are currently displayed in over 757 Walmart’s in five states. In addition, HearingAssist has multiple vendor contracts signed and expansions currently underway with Walmart and other retailers. With the expected Over-the-Counter Law coming into effect in 2022, HearingAssist brand revenue projections are expected to exceed $150 million annualized by 2024.  INND is an investors favorite that is getting noticed by some big players as the Company launches 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. InnerScope is a wholesale vendor for Walmart and was recently accepted into BJ’s Wholesale Club operating 215+ Locations in 17 States. INND has seen tremendous growth through acquisition recently acquiring iHEAR Medical Inc. based in San Leandro, California. The Acquisition expands InnerScope’s products and services to include the iHEARtest™, the only FDA-Cleared home hearing screener (FDA Clears Home Hearing Test on ABC7 / 2018), advanced FDA-Registered hearing aids, and the TReO™ Personal Sound Amplification Product (PSAP). Assets acquired in the transaction include iHEAR’s FDA-Registered manufacturing facility, R&D center, and shipping operations in San Leandro, California. InnerScope is starting to attract mainstream press including Fox Business News, Bloomberg and a 12-part series by Newsmax.p Microcapdaily has been reporting on INND since February. We will be updating on INND when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with INND.

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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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