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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Innerscope Hearing Technologies Inc (PK) | USOTC:INND | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0002 | 0.0002 | 0.0003 | 0.0003 | 0.0002 | 0.0002 | 14,609,704 | 20:12:36 |
ROSEVILLE, CA -- January 15, 2019 -- InvestorsHub NewsWire -- InnerScope Hearing Technologies Inc. (OTCQB: INND) announced the latest "Grand Opening" of its newest audiological hearing aid retail clinic under its dba brand "Value Audiology & Hearing Aid Center" ("Retail Clinic") located in Sacramento, California. In addition, InnerScope has signed Letters of Intent ("LOI's") for long-term leases on two more Retail Clinics located in Elk Grove and Fremont California to be slated to open in early February 2019. InnerScope is continuing to deliver and execute on its previously announced expansion rollout plan by opening at least 22 new audiological hearing aid retail clinics throughout Northern California in 2019 ("Rollout Plan").
InnerScope's Rollout Plan of locating each Retail Clinic is based on key location demographic revenue drivers, such as, age, income, and high density populated areas. According to surveys conducted by www.hearingtracker.com, approximately 35% of the U.S. population age 65 or older has hearing loss that may benefit wearing hearing aids but only 15% of those people currently wear hearing aids ("Conversion Rate"). Also, according to www.hearingtracker.com the industry average price sold is $2,372 ("Average Price") per unit (a unit equals one hearing aid) and equal to 1.84 number of units purchased per person ("Binaural Rate") meaning, 84% of the time a person purchases two hearing aids (units).
InnerScope's Key Retail Clinic Location & Demographic Revenue Drivers
(*Per U.S. Census Data: average of 2.58 people per household)
For Example:
InnerScope's Sacramento Retail Clinic, located in the Country Club/Arden-Arcade Area:
(One of the highest concentration of people over the age of 65 in Northern California)
InnerScope's upcoming Elk Grove Retail Clinic located South of Sacramento:
InnerScope's upcoming Fremont Retail Clinic located Southeast of San Francisco Bay Area, fourth most populated city in the San Francisco Bay Area:
$623,895,300 is the total market yield in potential hearing aid revenue from just these three locations. InnerScope has the ability to not only penetrate the current market share in these markets but will also continue to grow the market by increasing the current Conversation Rate using its Manufacturers Direct Pricing Model as its Unique Selling Proposition ("USP").
About InnerScope Hearing Technologies ("INND")
InnerScope Hearing Technologies (INND) is a rapidly expanding consolidator of the hearing aid industry. Management is applying decades of profitable industry experience and technology to an antiquated and disjointed industry, unlocking scale and efficiency, which will serve all of InnerScope's stakeholders. Its direct-to-consumer model is revolutionizing the industry with its Walmart.com relationship representing a paramount shift in the consumption of hearing aids by the hearing impaired.
In addition, InnerScope plans to continue to open, acquire, and operate a physical chain of audiological and retail hearing device clinics. InnerScope's mission is to serve approximately 1.2 billion people around the globe that are suffering with 25 db or greater hearing loss across the entire hearing impaired vertical from R&D and manufacturing through direct consumer sales and services. For more information, please visit: www.innd.com
Safe Harbor
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.
Contact
InnerScope Hearing Technologies, Inc.
Investor Relations
Info@innd.com
916-218-4100
www.innd.com
For the Most Up-to-Date information about InnerScope Hearing Technologies (OTCQB: INND), please visit and follow our Official Twitter account @inndstock Page. https://twitter.com/inndstock
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