InnerScope Hearing
Technologies (OTC: INND) Announces Preliminary
Revenue of $633,894 in the Fourth Quarter of 2021
InnerScope
Experiencing Improved Sales Momentum
from Acquisitions in the Fourth
Quarter
ROSEVILLE, CA -- March 8, 2022 --
InvestorsHub NewsWire -- InnerScope Hearing Technologies Inc.
(OTC:
INND) ("InnerScope"), an emerging and disruptive leader in the
Direct-to-Consumer Hearing Technology space, today announced its
preliminary unaudited revenue results of
$633,894 for the fourth quarter ("Q4-2021")
ended December 31, 2021.
Q4-2021 Business
Highlights
- Acquisitions of Direct-to-Consumer
Hearing Aid Companies:
- Acquisitions included:
- Manufacturing and
R&D facility in San Leandro, CA.
- Management office in
Virginia Beach, VA.
- Appointed Adnan Shennib as InnerScope's CTO and
President of International Operations – an industry leader in Electrical and
Biomedical Engineering.
- Expanded the InnerScope team more
than threefold, from 9 to 30.
- Filed 2 Provisional Patents on
innovative hearing aid products.
- Partnered with Atlazo Inc., a leader in intelligent semiconductor
solutions for wearable health devices, developing next-generation
hearing aids with unprecedented new features, including voice
commands, continuous health monitoring, and
seamless connectivity with other smart devices.
- Received Walmart Purchase Orders
for HearingAssist's
in-store products.
- Updated HearingAssist in-store
product displays in 757 Walmart locations throughout Colorado,
Tennessee, Texas, Arizona, and North Carolina.
- Launched 14 in-store Hearing
Screening Kiosks with Hy-Vee, Giant Eagle, Food City, and Hartig Drug.
- Ordered 100 Hearing Screening Kiosks
to be manufactured to be delivered by the end of March 2022 (at
time of order, 65+ Kiosks committed to retailers).
- Engaged PCAOB Audit Firm Paris Kreit & Chiu
CPA LLP for plans
to complete audits and become SEC fully reporting company by
Q2-2022.
Matthew Moore, President, and CEO of
InnerScope Hearing Technologies commented, "We are excited to
provide investors with these preliminary results, which are
indicative of the growing customer and major retailers' interest in
our innovative, affordable hearing products and in-store automated
Hearing Screening Kiosks. Our sales momentum and growth come from
our hard work in building a scalable and sustainable business
model. We have built a team of well-experienced industry leaders in
R&D, marketing, and distribution, allowing InnerScope to create
a proprietary patentable product portfolio and to continue to focus
on our execution strategy building a wholesale distribution network
of major retailers and pharmacy chains."
About InnerScope
Hearing Technologies, Inc. (OTC PINK:
INND):
InnerScope Hearing Technologies Inc.
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
(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.
InnerScope's recent acquisition of iHear Medical
Inc., a
DTC cloud-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 AI 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.
InnerScope's full line of Hearing
Health products is currently available through these multiple
retail/wholesale channels: Walmart.com, Amazon.com, Giant Eagle, Hy-Vee, Hartig Drug, Food City, and Cardinal Health dba RGH
Enterprises Inc., which provides InnerScope products to
FSAStore.com,
HSAStore.com,
& WellDeservedHealth.com. Additional in-store and online
through major retailers and pharmacy chains launching
soon.
For information related to InnerScope
Hearing Technologies' latest hearing aids and related hearing
products, please visit:
http://iheardirect.com
http://hearingassist.com
For the most up-to-date information
about InnerScope Hearing Technologies (OTC:
INND), please visit and follow our official Twitter account
@inndstock page:
https://twitter.com/inndstock
https://twitter.com/ihear_direct
https://twitter.com/HearingAssistUS
InnerScope Hyperlinks:
HearingAssist
hearing assist - Walmart.com
Acquisition of iHear Medical Inc.
Acquisition of HearingAssist
Direct-to-Consumer Hearing Products.
InnerScope's Hearing Health Flexible
Subscription Plans
Safe Harbor
This news release contains
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended intended to be covered
by the "safe harbor" created by those sections. Any statements that
are not historical facts contained in this press release are also
"forward-looking statements," as that term is defined under the
Private Securities Litigation Reform Act of 1995 (PSLRA). Such
statements may be identified by words such as "expects," "plans,"
"projects," "will," "may," "anticipates," "believes," "should,"
"intends," "estimates," and other words of similar meaning. Such
forward-looking statements are based on current expectations,
involve known and unknown risks, a reliance on third parties for
information, transactions or orders that may be canceled, and other
factors that may cause our actual results, performance or
achievements, or developments in our industry, to differ materially
from the anticipated results, performance or achievements expressed
or implied by such forward-looking statements. Factors that could
cause actual results to differ materially from anticipated results
include risks and uncertainties related to the fluctuation of
global economic conditions, the performance of management and our
employees, our ability to obtain financing or maintain contractual
relationships with vendors and customers, competition, general
economic conditions and other factors that are detailed in our
periodic reports filed with the Securities and Exchange Commission
("S.E.C."). We intend that all forward-looking statements be
subject to the safe-harbor provisions of the PSLRA, Securities Act,
and Securities Exchange Act.
Contact:
InnerScope Hearing Technologies,
Inc.
Investor Relations
ir@innd.com
833-788-0506
www.innd.com
Investor Relations Agency Contact:
Skyline
Corporate Communications Group, LLC
Lisa Gray,
Senior Account Manager
One
Rockefeller Plaza, 11th Floor
New York,
NY 10020
Office:
(646) 893-5835
Email: lisa@skylineccg.com
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