Business
The Company signs an LOI with AlgorKorea Co. Ltd. for its patented iNR 64PS2 and iClear SR self-fitting wireless type Smart Digital Hearing Aid Devices direct-to-consumer through its www.nohasslehearing.com eCommerce store
The Company signs an LOI with AlgorKorea Co. Ltd. for its patented iNR 64PS2 and iClear SR self-fitting wireless type Smart Digital Hearing Aid Devices direct-to-consumer through its www.nohasslehearing.com eCommerce store.
About this update from Innerscope Hearing Technologies, Inc.
[{"type":"text","content":"\nROSEVILLE, Calif., June 08, 2018 (GLOBE NEWSWIRE) -- Via OTC PR Wire -- InnerScope Hearing Technologies Inc. (OTCQB:INND) announced today an executed LOI with AlgorKorea Co. Ltd. for an Exclusive U.S. and Canada Supply and Distribution License Agreement for AlgorKorea’s patented iNR 64PS2 and iClear SR self-fitting hearing aid devices.  In addition, the Agreement will give the Company the exclusive right to freely use AlgorKorea’s seven U.S. patents and whereby establishes a sales partnership through the year of 2021 with an automatic 3-year renewal. This Agreement will allow the Company the ability to offer Self-Fitting hearing aid devices Direct-To-Consumer through its www.nohasslehearing.com eCommerce store.  InnerScope plans to release “InnerScope hearIQ”, its own branded label of self-fitting apps for iOS and Android mobile phones as soon as the Definitive Agreement from the LOI is executed.  At which time, InnerScope will begin to offer AlgorKorea’s iNR 64PS2 self-fitting hearing aid devices on its eCommerce store. The iNR 64PS2 a 64 Channel and iClear SR a 20 Channel are both Wireless Bluetooth Low Energy (BLE) Receiver-In-Ear (RIC) type Smart Digital Hearing Aid Devices with Self-Fitting Apps for both iOS and Android mobile devices. The iClear SR is a fully rechargeable system which does not requires traditional hearing aid batteries. Both iNR 64PS2 and iClear SR are specifically designed for a simpler and more convenient way for the user to self-fit and control the hearing aid devices almost instantly through the smartphone apps. Using the app, the user can perform a frequency specific self-hearing test through the hearing aid devices, which allows the self-fitting algorithms to adjust the devices automatically to the users hearing loss. At which point, through the app, the user can fine tune the devices to their liking and be able to control and personalize many different and challenging hearing environments for a better hearing experience. “AlgorKorea’s innovative hearing technology is not only a game changer for InnerScope but also for the 48 million people in the U.S alone that struggle daily with hearing issues,” said Matthew Moore, CEO of InnerScope Hearing Technologies. “This revolutionary self-fitting hearing aid technology will truly ch...