InnerScope Hearing Technologies (OTCQB:
INND) Announces its Continued Record Sales Growth
Multiple revenues streams responsible
for month over
month Record-Setting Sales
Growth
ROSEVILLE, CA. --
March 18, 2019 -- InvestorsHub NewsWire -- InnerScope Hearing
Technologies Inc. (OTCQB:
INND) a manufacturer and Direct-to-Consumer ("DTC")
distributor/retailer of FDA-Registered Hearing Aids, Personal Sound
Amplifiers Products and Hearing Related Treatment
Therapies, ("Hearing Products")
announced
its
continuing month over month
record sales growth for 2019 by reporting an
increase of 551% for the month
of February 2019. The increase reflects the total
receipts
in
February 2019 of $125,374 (unaudited)
including
prepaid hearing aid sales orders, compared to $22,753 revenue
booked in February 2018. The February 2019
total receipts
also show
an increase of 143% over last month
record-setting receipts
recorded
for January
2019.
Matthew Moore, CEO of InnerScope commented,
"InnerScope's continued record-setting
growth is a result of successfully building a solid deep-rooted
platform of Hearing Products with multiple sales channels through a
strong foundation of various strategic and distribution partners,
like Walmart.com."
Exponential Revenue Growth Strategy -
Starting Second Quarter 2019 ("2019 Q2")
InnerScope's
"Exponential Revenue
Growth Strategy"
is the
culmination of developing
unique
innovative Hearing Products
lined-up
ready
to go to
market
along with constant building of new possibilities of
revenue
streams through multiple partners and/or sales channels.
InnerScope's
believes
it has not only
built a
scalable sales and marketing infrastructure but also a
scalable
Hearing Product
platform whereby the newest
innovative Hearing Products can be developed, marketed and sold
through various vendor/retail
sales
channels. InnerScope's
Exponential
Revenue
Growth Possibilities are:
Sold through and/or Distributed to:
InnerScope
anticipates its 2019 Q2 launch of the "NEXUS" by InnerScope, a
Smartphone User Controlled Self-Fitting Hearing Aids ("NEXUS"). The
NEXUS is InnerScope's next generation of a family of Self-Fitting
affordable hearing aid products that uses cutting-edge patented
technology that allows the consumer to individualize and
personalize their
hearing
aids to their hearing profile using InnerScope's
HearIQ
Remote
Control App through their Smartphone. The NEXUS and its
Self-Fitting Technology gives the consumer the ability to purchase
high quality hearing aids at a 50% to 75% lower cost without the
costly time and money of purchasing through a hearing healthcare
professional.
Sold through and/or Distributed to:
InnerScope is
planning on having its proprietary formulations of its CBD Oil for
"Tinnitus" and its Doctor-Designed Nutritional Dietary Hearing
Supplements ("Nutrition for the Ears") ready to launch in the early
part of 2019 Q2. With 50+ million Tinnitus suffers in the U.S.
alone and the growing popularity of people using CBD Oil
(especially the senior market) along with the anticipated growth of
the CBD Oil industry reaching $22 billion dollars by the year 2022,
InnerScope is preparing to sell thousands of bottles a month.
InnerScope's also expects its three formulations of Nutrition for
the Ears will continue to grow in revenue based on Bausch
&
Lomb's Eye Vitamin Line sales of over $223
million dollars in 2018.
- After receiving the FDA-510 Market Clearance
Marketed worldwide as the only FDA-Cleared Treatment for
Tinnitus to date
- Sold and administered
through various medical professionals around the
world
- Marketed to the United States
Veterans Administration ("VA")
InnerScope will be
adding more approved clinical testing sites for its FDA-510
Clinical Trial of a doubleblind, placebo-controlled evaluation of
the effect of using Low-Level Laser on the relief of Tinnitus
symptoms. This will give InnerScope more data using a multi-site
protocol. Tinnitus
affects about 50 million people in the U.S. and 15% to 20% of the
world's population suffers from Tinnitus. Moreover,
90% of people with Tinnitus also have hearing loss. Tinnitus is
the most prevalent service-connected disability among
Veterans. The VA alone is
reported spending $3 billion dollars a year in Veteran claims
related to Tinnitus and hearing loss.
Each new location is expected to generate a
minimum of $500 thousand dollars to $1.5 million
dollars in annual revenue.
InnerScope is
continuing its Expansion Roll-out Plan with the expectation of
opening 8 new Audiological Hearing Aid Retail Centers ("Retail
Locations") in 2019 Q2 and plans of successfully having 25 new
Retail Locations open by end of 2019. InnerScope will continue its
Expansion Roll-out Plan of opening at least 25 new Retail Locations
each year and it estimates by 2022 it will have 100 new Retail
Locations generating more $100 million dollars in
annual
revenue.
InnerScope's Product Portfolio of
Direct-to-Consumer ("DTC")
FDA-Registered Hearing Aids
Sold through and/or Distributed to:
InnerScope is
continuing to add and/or solicit major retailers for selling online
or in-store its affordable high quality
DTC
FDA-Register Hearing Aids ("DTC Hearing Aids"). InnerScope's vendor
relationship with Walmart.com has become the
cornerstone of building a solid platform of consumer awareness for
purchasing affordable hearing aids. Additionally, InnerScope for
its DTC Hearing Aids, launched ValueHearingBenefits.com, a DTC
Hearing Aid
Benefit
website specifically designed for the thousands of membership
organizations across
the U.S.
(represents tens of millions of people) where
individuals would be able to
purchase InnerScope DTC Hearing Aids as a member of one of these
organization at discounted prices
as their
hearing benefit supplier.
InnerScope is currently under Joint
Marketing Agreement with America Seniors
Association ("ASA") to provide a
DTC Hearing Aid Benefit to ASA's 1.2 million membership and
database. InnerScope expects to seeing results from that ASA's
Agreement in 2019 Q2.
"With all
of InnerScope's ongoing sales channels and the upcoming releases of
the NEXUS and CBD Oil / Hearing Vitamins combined with opening more
Audiological Hearing Aid Retail Locations, we are looking forward
to the start 2019 Q2", said Matthew Moore, CEO of
InnerScope Hearing Technologies. "I am very proud of
InnerScope's team of individuals who has worked tirelessly over the
past two years putting into place a scalable sales and distribution
platform for our Hearing Products. By continuing to execute the
business plans and strategy, we expect starting with 2019 Q2 and
every quarter after, InnerScope has the ability
to grow revenue
exponentially quarter over quarter," concluded Mr.
Moore.
About InnerScope Hearing Technologies
("INND")
InnerScope Hearing
Technologies (OTCQB:
INND) is a rapidly expanding
consolidator of the hearing aid industry. Management is applying
decades of profitable industry experience and technology to an
antiquated and disjointed industry, unlocking scale and efficiency,
which will serve all of
InnerScope's
stakeholders. Its direct-to-consumer
model is revolutionizing the industry with its Walmart.com relationship
representing a paramount shift in the consumption of hearing aids
by the hearing impaired.
In
addition, InnerScope
plans to
continue to open,
acquire,
and operate
a
physical
chain
of audiological and
retail hearing device clinics. InnerScope's
mission
is to serve approximately
1.2 billion people around the globe that are suffering with 25 db
or greater hearing loss across the entire
hearing impaired vertical from R&D and manufacturing through
direct consumer sales and services. For more information,
please visit: www.innd.com. For the Most
Up-to-Date information about InnerScope Hearing Technologies
(OTCQB:
INND), please visit and follow our Official Twitter account
@inndstock Page. https://twitter.com/inndstock
Safe Harbor
This
presentation contains forward-looking statements, which relate to
future events or InnerScope Hearing Technologies future performance
or financial condition. Any statements that are not statements of
historical fact (including statements containing the words
"believes," "should," "plans," "anticipates," "expects,"
"estimates" and similar expressions) should also
be
considered to be forward-looking
statements. These forward-looking statements are not
guarantees
of future
performance, condition or results and involve a number of risks and
uncertainties. Actual results may differ materially from those in
the forward-looking statements as result of a number of
factors,
including those described from time to time in InnerScope Hearing
Technologies filings with the Securities and Exchange Commission.
InnerScope Hearing Technologies undertakes no duty to update any
forward-looking statements made herein.
Contact
InnerScope Hearing
Technologies,
Inc.
Investor
Relations
Info@innd.com
916-218-4100
www.innd.com
Walmart.com
January
2019
Multiple eCommerce
Websites
Self-Fitting Hearing Devices
CDB Oil for
Tinnitus and Doctor-Designed
Nutritional Dietary Hearing
Supplements
InnerScope
Hearing Technologies FDA 510K Market Clearance Study with
Erchonia
Tinnitus
affects about 50 million people in the U.S.
Tinnitus is
the most prevalent service-connected disability among
Veterans
New
Audiological Clinic Expansion Roll-out
Plan
ValueHearingBenefits.com
Joint
Marketing Agreement
America Seniors
Association
For the Most
Up-to-Date information about InnerScope Hearing Technologies
(OTCQB:
INND), please visit and follow our Official Twitter account
@inndstock
Page.
https://twitter.com/inndstock
Innerscope Hearing Techn... (PK) (USOTC:INND)
Historical Stock Chart
From Mar 2024 to Apr 2024
Innerscope Hearing Techn... (PK) (USOTC:INND)
Historical Stock Chart
From Apr 2023 to Apr 2024