Innerscope Hearing Technologies, Inc. (OTCQB: INND) operates as a technology company offering highly-scalable B2B and B2C solutions. Shares of the technology company are skyrocketing 201% through early trading on Wednesday, August 1, 2018. Over the past month, Innerscope Hearing Technologies, Inc. has seen average daily volume of 1.1 million shares. However, volume of 6.14 million shares or dollar volume of $281,395, has exchanged hands through early trading on Wednesday.
Shares of Innerscope Hearing Technologies, Inc. are soaring on Wednesday, after the company announced it has a supplier agreement to become a direct shipped vendor (DSV) for Walmart.com USA, LLC, a wholly-owned subsidiary of Wal-Mart Stores, Inc. (NYSE: WMT). The company will sell its FDA-registered hearing aids and personal sound amplifier products. Here is the full press release detailing of the supplier agreement with Walmart.com USA, LLC:
Innerscope Hearing Technologies, Inc. Press Release:
ROSEVILLE, Calif. , Aug. 01, 2018 (GLOBE NEWSWIRE) — via OTC PR WIRE — InnerScope Hearing Technologies Inc. (OTCQB: INND) is pleased to announce the signing of a supplier agreement as a direct shipped vendor (“DSV”) for Walmart.com. The Company has been accepted as a Walmart.com USA, LLC, a wholly-owned subsidiary of Wal-Mart Stores, Inc. (“Walmart.com”) supplier and will sell its FDA-Registered Hearing Aids and its Personal Sound Amplifier Products (“PSAPs”) to Walmart.com as the retailer for Direct-To-Consumer online retail sale.
Walmart.com as the retailer for the Company’s products along with Walmart.com’s online sales platform will give the Company a broader reach and visibility in the Direct-To-Consumer hearing assistive and hearing aid device marketplace. With Walmart.com representing the Company’s PSAPs and especially its FDA-Registered Bluetooth wireless hearing aid technology, will create an increase in consumer awareness for a greater penetration of more affordable higher quality hearing aid technology options. The Company continues to deliver on its mission and its strategic goals by offering easy and affordable access to high quality hearing aids and hearing assistive devices.
Walmart.com will be able to offer for sale InnerScopes’s FDA-Registered ALPHA Digital Hearing Aid Series with Bluetooth and a Smart Control App in 3 levels of technology based on affordability and hearing needs. The ALPHA’s Series are receiver-in-canals (RICs) hearing aids with a very small discreet and comfortable compact design with Bluetooth Low Energy (BLE) wireless technology (for direct connection to external Bluetooth-enable devices) with a user app for added user control and personalizing the hearing aid devices for all different environments via Android or iOS Smartphones.
Walmart.com will also offer for sale several types of InnerScopes’s PSAPs. For example, the audiologist patented designed Teeny and the Crescent are ear level PSAPs which uses the same Advanced Digital Technology found in higher priced hearing aid devices. The Teeny PSAP is a one size fits all completely-in-the-canal (CIC), made to be comfortably hidden within the ear canal. The Crescent PSAP and its unique universal shell design that fits approximately 95% of all ears. InnerScopes’s other type of PSAP offer for sale is the BlackCat. The BlackCat is a hearable/wearable personal audio controller designed for people who have difficulty understanding conversation in difficult listening and noisy situations, like in a restaurant or group gatherings. It’s compact credit card design and easy to use buttons, the user can control volume, balance and rear noise suppression.
“We were excited when Walmart.com contacted us and wanted to be a retailer for all of InnerScope’s hearing products,” said Matthew Moore, CEO of InnerScope Hearing Technologies. “We signed the supplier agreement as Walmart.com’s direct ship vendor in the U.S. for all of our hearing products and we are very pleased to have forge this new supplier relationship with an American company like Wal-Mart and Walmart.com. We know our affordable high-quality hearing products will be well represented online by Walmart.com. We our expecting great success and a long-term relationship with Walmart.com as a retail partner and we are looking forward to extending InnerScope’s hearing products to Wal-Mart’s brick and Mortar Stores,” continued Mr. Moore.
“This new Walmart.com relationship will bring more awareness to our “Hearing Better in America” marketing campaign which strategically targets the 48 million our Americans who suffers from some form of hearing loss that may require the need for hearing aids or hearing assistive products. The “Hearing Better in America” marketing campaign uses a combination of many different social media and media sources across the United States. InnerScope is continuing to develop multiple direct-to-consumer sales channels and platforms, so the hearing-impaired consumers can gain easy access and more affordable options when it comes to finding hearing aids and/or hearing assistive products,” Mr. Moore, concluded.
About InnerScope Hearing Technologies (INND):
InnerScope Hearing Technologies (INND) is a technology driven company with highly scalable B2B and B2C solutions. The Company plans on offering a B2B SaaS based Patient Management System (PMS) software program, designed to improve operations and communication with patients. INND also offers a Buying Group experience for audiology practice, enabling owners to lower product costs and increase their margins. INND will also compete in the DTC (Direct-to-Consumer) markets with its own line of “Hearable,” and “Wearable” Personal Sound Amplifier Products (PSAPs), Hearing Aids, and revolutionary APPs on the iOS and Android markets.
INND has plans on opening, operating and expanding a chain of audiological and retail hearing device clinics. INND’s seasoned team of professionals, with collectively over 200+ years of experience in the hearing aid industry, including successful operations in hearing aid manufacturing and retail store management. Our team has the knowledge, relationships, and the experience to quickly deploy new products and software to serve approximately 1.2 billion people around the globe that are suffering with 25 db or greater hearing loss. For more information, please visit: www.innd.com
Wal-Mart.com USA, LLC, a wholly-owned subsidiary of Wal-Mart Stores, Inc. was founded in 2000 and is headquartered in Brisbane, California. The company offers online retail services and sells products in various categories within in the United States, APO/FPO military addresses, Samoa, Guam, Northern Mariana Islands, Puerto Rico, and Virgin Islands. For more information, please visit: Walmart.com
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.