Business
InnerScope Hearing Technologies Announces Delay of Form 10-Q Filing
InnerScope Hearing Technologies Announces Delay of Form 10-Q Filing.
About this update from Innerscope Hearing Technologies, Inc.
[{"type":"text","content":"\n ROSEVILLE, Calif., Aug. 20, 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\"), today announced that it has determined the filing of its Quarterly Report on Form 10-Q for the quarter ended June 30, 2019, including the related management's discussion and analysis and CEO and CFO certifications (collectively, the \"Required Filings\") will be delayed past the five-day extension deadline permitted by the rules of the U.S. Securities and Exchange Commission (the \"SEC Extension\").  InnerScope is working expeditiously with its auditor, D. Brooks and Associates CPA's, P.A. to expedite the Required Filings and expects to file on or before August 30, 2019. InnerScope also confirms that there is no other material information concerning the affairs of InnerScope that has not been generally disclosed as of the date of this press release. The Required Filings delay is due to a combination of factors relating to additional financial procedures and processes related to InnerScope investing heavily in its growth strategy for 2019. InnerScope added additional seven brick and mortar audiological hearing aid retail locations through its growth strategy without increasing its resources in the financial accounting department.  Recently, InnerScope has taken appropriate measures to improve the effectiveness of its accounting department as well as made an investment in hiring experienced personnel to ensure the more timely filing of the required reports and filings of a public company.  InnerScope believes the steps that it has undertaken to improve on its financial reporting practices will not only lead to producing On-Time Filings, starting with filing of its Quarterly Report on Form 10-Q for the quarter ending September 30, 2019 (\"Q3\"), but also will lead InnerScope to be a better transparent public reporting company. InnerScope and its management, including its new accounting management is excited about Q3 business developme...