Business
InnerScope Hearing Technologies (OTC: INND) Posts 2021 Annual Report
InnerScope Hearing Technologies (OTC: INND) Posts 2021 Annual Report.
About this update from Innerscope Hearing Technologies, Inc.
[{"type":"text","content":"\n ROSEVILLE, Calif., April 01, 2022 (GLOBE NEWSWIRE) -- InnerScope Hearing Technologies Inc. (OTC: INND) (\"InnerScope\"), an emerging and disruptive leader in the Direct-to-Consumer Hearing Technology space, today posted its unaudited annual report for the fiscal year ending December 31, 2021. Highlights of the Fiscal Year 2021   $62,176,999 increase in Paid-in Capital$15,009,164 increase in Intangible Assets$7,266,146 increase in Shareholder Equity$2,687,580 increase of Inventory$529,192 increased Revenues \"I am extremely proud of our team's efforts to build a solid foundation of recurring revenue through a combination of key acquisitions and a network of major retailers and pharmacy chains,\" stated Matthew Moore, President and CEO of InnerScope Hearing Technologies, \"InnerScope's key acquisitions in the last quarter of 2021 of iHear Medical and HearingAssist have made InnerScope a recognized emerging powerhouse in the DTC/OTC hearing aid market.\" \"First, the acquisition iHear Medical gave InnerScope access to 40+ hearing technology patents and an R&D team and facility. Then, acquiring HearingAssist with a 3-year track record of $72 million in gross revenues gave InnerScope a significant distribution footprint within Walmart and other large retailers. These key acquisitions have also allowed InnerScope to build an unprecedented team of highly skilled industry leaders in hearing aid technology, marketing, and distribution. As a result, we have an exciting roadmap for 2022 clearly defined ahead and after the Over-the-Counter Hearing Aid Law is enacted. We continue to add new retailers to our ever-growing distribution list, including, as previously announced, Rite Aid Pharmacy. In addition, our R&D team is working to bring new proprietary patented hearing aid products to market later this year.\" About InnerScope Hearing Technologies, Inc. (OTC PINK: INND): InnerScope Hearing Technologies Inc. is a leading Direct-to-Consumer (DTC) manufacturer and distributor of FDA-registered hearing aids, hearing assistive devices, hearing health-related products, and Personal Sound Amplifier Products (PSAPs) (\"Hearing Products\") dedicated to addressing the global demand for affordable hearing solutions. InnerScope's Hearing Products and its business model break through the persistent barriers that prevent access to effecti...