$INND InnerScope Hearing Technologies (OTC: INND) is focused on becoming a leader in the OTC Hearing & Digital Health space
https://world.einnews.com/pr_news/803360116/i...alth-space
InnerScope believes it can capitalize on what we learned about the OTC hearing aid market and the impact of decisions we made positioning InnerScope as a Leader
InnerScope Hearing Technologies (OTCMKTS:INND)
ROSEVILLE, CA, UNITED STATES, April 15, 2025 /EINPresswire.com/ -- InnerScope Hearing Technologies Inc. (OTC: INND) ("InnerScope" or the Company), which is focused on becoming a leader in the Over-the-Counter (OTC) Hearing Health and Digital Health space, today issues the following letter to its stakeholders.
Dear Valued Stakeholders,
Your directors, management team, and advisors are committed to enhancing stakeholder value. We believe we can capitalize on what we learned about the OTC hearing aid market since it was launched in October 2022, and the impact of decisions we made positioning InnerScope as an early leader in this new emerging marketplace.
When the OTC law was enacted, we decided to quickly build multiple retail/wholesale distribution channels to support two different hearing brands (HearingAssist and iHear, acquired during 2021). This increased our market share over our competitors at the time, but the cost of maintaining operations and marketing support for the network of major retailers/pharmacy chains and hundreds of independent pharmacies proved difficult to scale into a profitable proposition. However, through that experience, we discovered an alternative path for building a profitable business model for InnerScope and its Stakeholders.
We are now moving through a significant transition, as we refocus the company on implementing a new roadmap designed to drive substantial value. We expect this value to be reflected in attractive growth in our share price and market capitalization.
InnerScope’s New Chapter: Positioning for Success
Over the last few years, we have cultivated relationships with several retail/wholesale partners, most importantly our retail/wholesale partner representing 15,000+ store and pharmacy locations. This is creating new opportunities that, combined with additional talent, provide a comprehensive and scalable business plan, a stronger and differentiated value proposition, and enhanced corporate governance.
Our plans now include:
• Reinforcing our go-forward focus on pharmacies as the cornerstone of our core business by delivering value-add health products and services.
• Shifting from “just hearing aids” to a broader emphasis on hearing health guidance and the products (including hearing aids) and services warranted by one’s hearing status;
• Extending our reach to incorporate other relevant aspects of digital health solutions;
• Introducing new sources of subscription revenue.
In addition, we are committed to:
• Assuring timely reporting and audited financial statements;
• Broadening and deepening leadership and our corporate governance process;
• Forming an Independent Board of Directors as well as an Advisory Board.
As young companies progress, they often transition from a founder/family structure to a more professionally managed form. Such a transition is now underway, with the Advisory Board being formed, consisting of the heads of some current partners with additional members to be recruited as the year progresses. Terry Mactaggart, CEO of Summus Hearing, has agreed to serve as its Founding Chairman. A Stanford MBA, with long experience in private and public company entrepreneurship and oversight, he is well suited to guide the Board’s development and advisory role.
Several of these changes are already underway – progress will be reported on as they proceed.
Financial Restructuring to Resolve Litigation and Debt Obligations
As you might already be aware, we successfully settled all legal claims with the former owners of our 2021 acquisitions. Additionally, to further resolve and settle all litigation and legal claims, we recently entered into a Liability Purchase Agreement with a company that specializes in helping public companies strengthen their balance sheet under section 3(a)(10) of the Securities Act. This provision allows the Company to settle its legal claims and debt obligations by issuing securities instead of making cash payments. This restructuring of debt into equity will have a major positive impact on our balance sheet by increasing net equity.
Enhancements to Improve Marketability and Liquidity
We recently completed a reverse stock split aimed at enhancing our stock price and improving marketability to attract a broader range of institutional investors to support our growth strategy. To further broaden our stock price and marketability, we have applied for a Dual Listing on a Global Securities and Digital Asset Exchange. Once approved, this will allow InnerScope to access an investor base outside the U.S., unlocking liquidity and enhancing price discovery while internationalizing the opportunity to invest in the Company.
Focusing on Maximizing Shareholder Value
Our overarching goal is to maximize enterprise and shareholder value. InnerScope’s New Chapter “Positioning for Success” combines an exciting growth strategy with the assets and team required to execute our scalable business plan in the coming months.
We look forward to proving ourselves through our actions and results. We certainly appreciate your continued support as we enter this next chapter of growth.
Sincerely,
InnerScope Hearing Technologies, Inc.
https://world.einnews.com/pr_news/803360116/i...alth-space
InnerScope believes it can capitalize on what we learned about the OTC hearing aid market and the impact of decisions we made positioning InnerScope as a Leader
InnerScope Hearing Technologies (OTCMKTS:INND)
ROSEVILLE, CA, UNITED STATES, April 15, 2025 /EINPresswire.com/ -- InnerScope Hearing Technologies Inc. (OTC: INND) ("InnerScope" or the Company), which is focused on becoming a leader in the Over-the-Counter (OTC) Hearing Health and Digital Health space, today issues the following letter to its stakeholders.
Dear Valued Stakeholders,
Your directors, management team, and advisors are committed to enhancing stakeholder value. We believe we can capitalize on what we learned about the OTC hearing aid market since it was launched in October 2022, and the impact of decisions we made positioning InnerScope as an early leader in this new emerging marketplace.
When the OTC law was enacted, we decided to quickly build multiple retail/wholesale distribution channels to support two different hearing brands (HearingAssist and iHear, acquired during 2021). This increased our market share over our competitors at the time, but the cost of maintaining operations and marketing support for the network of major retailers/pharmacy chains and hundreds of independent pharmacies proved difficult to scale into a profitable proposition. However, through that experience, we discovered an alternative path for building a profitable business model for InnerScope and its Stakeholders.
We are now moving through a significant transition, as we refocus the company on implementing a new roadmap designed to drive substantial value. We expect this value to be reflected in attractive growth in our share price and market capitalization.
InnerScope’s New Chapter: Positioning for Success
Over the last few years, we have cultivated relationships with several retail/wholesale partners, most importantly our retail/wholesale partner representing 15,000+ store and pharmacy locations. This is creating new opportunities that, combined with additional talent, provide a comprehensive and scalable business plan, a stronger and differentiated value proposition, and enhanced corporate governance.
Our plans now include:
• Reinforcing our go-forward focus on pharmacies as the cornerstone of our core business by delivering value-add health products and services.
• Shifting from “just hearing aids” to a broader emphasis on hearing health guidance and the products (including hearing aids) and services warranted by one’s hearing status;
• Extending our reach to incorporate other relevant aspects of digital health solutions;
• Introducing new sources of subscription revenue.
In addition, we are committed to:
• Assuring timely reporting and audited financial statements;
• Broadening and deepening leadership and our corporate governance process;
• Forming an Independent Board of Directors as well as an Advisory Board.
As young companies progress, they often transition from a founder/family structure to a more professionally managed form. Such a transition is now underway, with the Advisory Board being formed, consisting of the heads of some current partners with additional members to be recruited as the year progresses. Terry Mactaggart, CEO of Summus Hearing, has agreed to serve as its Founding Chairman. A Stanford MBA, with long experience in private and public company entrepreneurship and oversight, he is well suited to guide the Board’s development and advisory role.
Several of these changes are already underway – progress will be reported on as they proceed.
Financial Restructuring to Resolve Litigation and Debt Obligations
As you might already be aware, we successfully settled all legal claims with the former owners of our 2021 acquisitions. Additionally, to further resolve and settle all litigation and legal claims, we recently entered into a Liability Purchase Agreement with a company that specializes in helping public companies strengthen their balance sheet under section 3(a)(10) of the Securities Act. This provision allows the Company to settle its legal claims and debt obligations by issuing securities instead of making cash payments. This restructuring of debt into equity will have a major positive impact on our balance sheet by increasing net equity.
Enhancements to Improve Marketability and Liquidity
We recently completed a reverse stock split aimed at enhancing our stock price and improving marketability to attract a broader range of institutional investors to support our growth strategy. To further broaden our stock price and marketability, we have applied for a Dual Listing on a Global Securities and Digital Asset Exchange. Once approved, this will allow InnerScope to access an investor base outside the U.S., unlocking liquidity and enhancing price discovery while internationalizing the opportunity to invest in the Company.
Focusing on Maximizing Shareholder Value
Our overarching goal is to maximize enterprise and shareholder value. InnerScope’s New Chapter “Positioning for Success” combines an exciting growth strategy with the assets and team required to execute our scalable business plan in the coming months.
We look forward to proving ourselves through our actions and results. We certainly appreciate your continued support as we enter this next chapter of growth.
Sincerely,
InnerScope Hearing Technologies, Inc.
