InnerScope Hearing Technologies (OTC: INND), an emerging and disruptive leader in the direct-to-consumer hearing device and hearing health technology space, has signed a letter of intent (“LOI”) with Audio Cardio Inc., dba AudioCardio(TM). The agreement provides InnerScope with a worldwide license, except for Japan, Korea and China, for full commercial rights to develop, market and sell an InnerScope-branded, subscription-based mobile app utilizing AudioCardio proprietary software. The software includes the clinically proven Threshold Sound Conditioning technology. The proposed transaction outlined in the agreement provides for both InnerScope and AudioCardio to achieve greater market penetration by focusing on enhancing the visibility and awareness for Threshold Sound Conditioning Therapy in treating several different things, including sensorineural hearing loss and tinnitus due to otoacoustic trauma. InnerScope plans to market the Hearing Therapy App with options of monthly, semiannual and annual subscriptions. “We are thrilled to have the opportunity to utilize AudioCardio’s proprietary software, including their clinically proven Threshold Sound Conditioning technology for InnerScope’s Hearing Therapy App,” said InnerScope Hearing Technologies CEO Matthew Moore in the press release. “We are very excited about entering into the mobile subscription-app space, giving InnerScope greater capabilities for growth and revenue potential. With AudioCardio’s help and its technology, InnerScope, through its Hearing Therapy app, will be able to reach a more significant number of people around the world with untreated hearing loss by offering a proven hearing treatment using only their smartphone. The Hearing Therapy App would also give InnerScope visibility to offer its potentially hundreds of thousand subscription customers who might need or want InnerScope’s Affordable Direct-to-Consumer Rechargeable App-Controlled Self-Adjusting Hearing Devices or other InnerScope Hearing Health Products.”
To view the full press release, visit https://ibn.fm/L9kRt
About InnerScope Hearing Technologies Inc.
InnerScope Hearing Technologies is a manufacturer, distributor and retailer of FDA-Registered direct-to-consumer (“DTC”), app-controlled, self-adjusting hearing aids; app-controlled, self-adjusting personal sound amplifier products; doctor-formulated dietary hearing and tinnitus supplements; and other ear and hearing health-related products. The company’s mission is to improve the quality of life of the 70 million people in North America who suffer from hearing impairment and/or hearing-related issues. INND’s management team applying decades of industry experience and believes the company is well positioned to directly benefit from the Over-the-Counter Hearing Aid Act, which is expected to be enacted within the next few months. InnerScope with its affordable app-controlled, self-adjusting hearing technology combined with its innovative point-of-sale hearing screening kiosks are designed for consumers with mild-to-moderate hearing loss to purchase over-the-counter hearing aids without being seen by a hearing care professional. For more information, please visit www.INND.com.
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