InnerScope Hearing Technologies (OTCQB: INND) Announces Significant Revenue Growth
ROSEVILLE, Calif., July 08, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- InnerScope Hearing Technologies Inc. (OTCQB: INND) ("InnerScope") a manufacturer and Direct-to-Consumer ("DTC") distributor/retailer of FDA-Registered Hearing Aids, Personal Sound Amplifiers Products, ("Hearing Products") Hearing Related Treatment Therapies, Doctor-Formulated Dietary Hearing Supplements and proprietary CBD Oil ("Hearing Health Products") (collectively "Hearing Product Portfolio"), announced today that its sales rose 502% to $532,550 for the first two quarters ending June 30, 2019 ("2019, Q1 & Q2"). This increase reflects the total revenues reported (unaudited) for the quarter ended March 31, 2019 ("2019 Q1") combined with total receipts booked (unaudited) for the quarter ended June 30, 2019 ("2019 Q2") including prepaid hearing aid sales orders, compared to revenues reported of $105,991 for the same two quarters ending June 30, 2018 ("2018 Q1 & Q2").
Additionally, sales rose 185% in 2019 Q2 compared to 2019 Q1. This increase reflects the total receipts of $346,021 booked in 2019 Q2 including prepaid hearing aid sales orders, compared to revenues reported of $186,529 for 2019 Q1.
InnerScope is rapidly growing and expanding its Hearing Product Portfolio, technology partnerships as well as its distribution partners, to further solidify its market leadership position within the hearing industry by delivering disruptive innovative hearing technology. Beginning in 2018, InnerScope has made critical strategic investments in establishing a strong supply chain and an Omni-Channel distribution network that are both scalable. InnerScope also has invested in its personnel by adding key employees within its sales and marketing departments to further its scalable growth plans.
With the recent high level interest InnerScope has received from major "Big Box" retailers looking for entry into this huge underserved market of 42+ million Hearing-Impaired Americans, (the "Underserved Market") InnerScope is fully engaged and has taken the steps to initiate a revised version of its "Hearing Better in America" marketing campaign (the "Marketing Campaign") to be easily integrated within the "Big Box" store model. InnerScope believes the Marketing Campaign will be able to reach the Underserved Market and offer the major "Big Box" retailers' new revenue opportunities as well as creating retention and long-term loyalty for their customers.
Matthew Moore, CEO of InnerScope commented, "We have demonstrated significant growth with our existing resources and expertise, strengthening our market position. "We are confident in our ability to innovate, execute and continue to grow with our core team."
"We believe we have put in place all the pieces of the puzzle and have laid the foundation for InnerScope to grow rapidly. We appreciate the continued support of our current shareholders and we remain committed to exploring every option to succeed and achieve our growth objectives, including working with top investment bankers to find many opportunities to secure growth capitol and/or to find potential synergistic acquisition targets. We are highly optimistic for the future, given our current growth curve, especially when you consider most of our revenue streams are either just beginning or will be coming on line shortly. But, more importantly, with all the growth revenue pieces in place, InnerScope has the ability to successfully disrupt the $10 billion dollar global hearing aid industry, which in turn, will deliver significant shareholder value."
Continued Growth Outlook for 2019/2020
InnerScope anticipates its fully integrated revised "Hearing Better in America" Marketing Campaign will soon be deployed through "Big Box" retailers and will quickly result in generating increased sales revenues from its Hearing Product Portfolio.
InnerScope just finished fully launching its newest DTC Hearing Aid, the "NEXUS", one of the world's first "Self Fitting" Hearing Aid System on Walmart.com, Sears.com, Kmart.com and as well as its own web sales portal. InnerScope has begun to receive and fill sales orders, domestically and internationally. InnerScope expects the sales of the "NEXUS" to continue to grow on a monthly basis due to its previous announced Marketing Partnership Agreement with AsSeenOnTV.pro featuring Kevin Harrington.
InnerScope will continue to make significant progress in its Expansion "Rollout Plan" of opening 25 new Audiological Hearing Aid Retail Clinics by the end of 2019 ("Retail Clinics"). With 11 Retail Clinics successfully opened and operating this year, InnerScope is planning the remaining 14 locations to be opened by the end of 2019.
InnerScope's is planning its launch within the next month of its three proprietary Doctor-Formulated Science-Based "Nutrition for the Ears" Nutritional Dietary Hearing Supplements ("Hearing Supplements"). These Hearing Supplements were formulated and designed specifically to protect and maintain hearing health:
EAR-RING RELIEF: Designed for Tinnitus sufferers.
HEARING VITE + MULTIVITAMIN: Formulated as a complete vitamin and mineral supplement for maintaining hearing health and daily dietary nutritional needs.
HEARING VITE + MEMORY BOOST: Specifically designed to promote hearing health PLUS boost memory and cognitive function for normal age-related memory loss.
With Walmart.com, Sears.com and Kmart.com all ready to sell the Hearing Supplements once launched including other large retailers and pharmacy chains, InnerScope is confident as with the "NEXUS", and its Marketing Partnership with AsSeenOnTV.pro featuring Kevin Harrington will sell tens of thousands of bottles monthly of its "Nutrition for the Ears" Hearing Supplements.
InnerScope is currently filling orders and is continuing to receive sales orders from its recent launched of its CBD Oil through its own web sale portal of www.InnerScopeHearingHealth.com. CDB Oil by InnerScope Hearing Health is for the general use to Relief Tinnitus (ringing in the ears) and as a daily dietary supplement for overall health and wellness. As with InnerScope's "NEXUS" and the Hearing Supplements, AsSeenOnTV.pro featuring Kevin Harrington will be one of the marketing channels for InnerScope's CBD Oil. Given the Popularity and the growing CBD market, InnerScope anticipates selling tens of thousands of its CBD Oil bottles.
In partnership with Advantego Corporation, InnerScope plans on integrating a "Self-Administered" frequency threshold hearing assessment software to accurately create a personalized hearing profile based on each persons hearing strengths and weakness. This hearing profile software and algorithm is much like InnerScope's "NEXUS" Self-Fitting Hearing Aids. Each person can enjoy an "Ultimate Listening Experience" while watching TV using InnerScope's personalized augmented hearing TV Sound Bars or its Headphones for listening to music. InnerScope plans to sell and distribute through all of its vendor agreements, including Walmart.com, Sears.com, Kmart.com and Amazon.com.
InnerScope and Erchonia Corporation are involved in conducting a FDA Clinical Trial for the purpose of obtaining a 510k FDA-Clearance on the effect of using Low-Level Laser Therapy Technology for the relief of Tinnitus symptoms. Once the 510k FDA-Clearance is obtained, InnerScope believes it would be the only FDA Market-Cleared device in the world of its kind for the treatment of Tinnitus. InnerScope's plan after receiving its 510k FDA-Market Clearance is to sell and distribute the laser equipment and the treatment protocols worldwide to help the approximately 600 million people worldwide including 50 million people in the U.S. alone.
About InnerScope Hearing Technologies
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, Sears.com and Kmart.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 clinics aid audiological and retail hearing . InnerScope's mission is to serve approximately 1.2 billion people around the globe that are suffering with 25db 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
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.
InnerScope Hearing Technologies, Inc. Investor Relations
For the Most Up-to-Date information about InnerScope Hearing Technologies (OTCQB: INND), please visit and follow our Official Twitter account @inndstock Page.