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ROSEVILLE, Calif., March 18, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- 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:
Development and Release of New Self-Fitting Hearing Devices
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.
Development and Release of proprietary formulas of CDB Oil for Tinnitus and Doctor-Designed Nutritional Dietary Hearing Supplements
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.
FDA 510k Clinical Trial for the Treatment of Tinnitus using Low-Level Laser Therapy
- After receiving the FDA-510 Market Clearance
Marketed worldwide as the only FDA-Cleared Treatment for Tinnitus to date
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.
New Audiological Clinic Expansion Roll-out Plan of Hearing Aid Retail Locations
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
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.
For the Most Up-to-Date information about InnerScope Hearing Technologies (OTCQB: INND) , please visit and follow our Official Twitter account @inndstock Page.