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It's not debt. A factor creates a credit line of 2.5 million that they will guarantee payment on before receivables hit. It's like 2.5 million in insurance that they will pay you, before Walmart pays them.
AND....my company does about 1.5 million annually with BJ's. We do 55 million with Walmart (all domestic stores). I'd much rather have WM as a client and BJ's. BJ's is good, but not capable of doing what WM can do.
Because I sell licensed products that they not only want, but NEED.
EDIT: the company I work for is private, but does about 500 million year.
Actually, it was not a lie. He had a purchase order from BJ's and multiple sources confirmed it via chat--screenshots were posted all over on Twitter. I also confirmed it with one of my contacts there.
We may never have verification what really happened, although most of us who did the DD have figured it out.
Not true. I do BIG business with BJ's and they simply provide non-binding purchase orders that are loaded with fine print enabling them to pull out of said purchase order should a vendor not meet their expectations, or if another vendor offers a better price on a comparable product (this happened to me), or if they feel their purchase (usually done a year in advance) may not be as interesting to their membership as it once was. There are no contracts. No one signs on a dotted line. The vendor is ALWAYS at the mercy of the customer's choices and decisions.
BJ's operates 216 BJ's clubs in 17 states.
Walmart operates approximately 10,500 stores and clubs under 46 banners in 24 countries and eCommerce websites. We are currently launching in 1499.
I'll take WM over BJs any day of the week.
Sale of goods. That's how.
My company pays CIT Group 3% of sales, a paltry commission to guarantee payment of receivables. The factor sees Walmart as money-in-the-bank, to help offset any losses incurred by smaller retailers who default on their payments. Since INND is starting at the top with major big-box retailers, this is a win-win for both parties.
Congrats Matt Moore for securing a sweetheart of a deal for INND, and for your shareholders.
I love this part:
"Our partnership with Star Funding will provide our fast-growing company with the ability to help meet the strong market demand now and in the post-OTC Hearing Aid Law for all of our hearing products without diluting our loyal stockholders."
No more dilution.
This is fantastic news. We've finally reached that rare point that all successful OTC's can only dream bout: traditional financing. This is great because the factor takes 3%-5% to guarantee payment to INND. When WM pays, the factor takes their commission, and INND gets the rest. With more orders than they can handle, factoring will allow them to take on all profitable opportunities that come their way.
The news about FINGERHUT offering INND products is getting out now. INND is strong!
https://www.fingerhut.com/search?search-type=user-generated&q=hearing%20aid
Yet another incredible day...and this is just the start!
Good morning INND. Looks like Friday's red day was a blip on the radar. She's trading like the champion she is!
.0122 and climbing!
Now it's 11%. I hope you bought the dip.
100% WM has invested 11 million in what they KNOW will happen: FDA clearance. The PR is already written to be released the day after FDA approval, which WILL happen, IMO.
Good morning INND-ers! Looking forward to GREENDAY #17 today!
Amazing day--congrats to all my fellow longs!
I would imagine that Wal Mart higher-ups are working close with DC lobbyists to make certain many of their interests are in mind, in our case, the Hearing Aid Act. I don't believe for a second that Wal Mart would have taken an 11 million dollar gamble on something that isn't 100% going to happen. This gives WM a HUGE advantage, being the first major retailer to offer OTC Hearing Aids. And for INND shareholders, well, that's like winning the freaking lottery!
GLTA
$INND 100 million served, up 30%
Innerscope Hearing Technologies, Inc. Common Stock (PC)
INND
$0.0122 0.00 (27.54%)[color=red][/color]
Bid/Ask
0.0121 / 0.0122
B/A Size
143,000 X 10,000
Bid/Ask
0.0106 / 0.0107
B/A Size
290,000 X 1,049,300
Volume
60,652,264
Hello pennyland.
And volume precedes price. Yesterday's launch into the 90's provided profits to those who bought earlier this week in the .005's. There's plenty of buyers now in the 90's, putting shares into tighter hands as we take the next leg up.
$INND this could be the last day we ever see this under .01. The masses are right--this is going MUCH higher.
MATT MOORE--ROCKSTAR CEO
$INND #INNERSCOPE pic.twitter.com/6ysJzQARbv
— Flint (@Flintarmamentri) July 19, 2022
Price
$0.0081
Day's Change
0.0013 (18.60%)
Bid
0.008
Ask
0.0081
B/A Size
100000x699337
Day's High
0.0082
Day's Low
0.0067
Volume(Heavy Day)
47,478,860
A bad experience coupled with emotional response can make one feel jaded with the entire OTC. It's finding the opportunities that can offset this, and with the FDA approval on deck, you have a solid chance of getting out with a profit. If I were in your position, I'd double up now and get that average below .03. I am very confident that, should we get an approval sooner rather than later, that .03 will be here in a flash. I have bought shares here at .0021 through .014, and am currently green because of my lower purchases. Whatever you choose, I wish you the best!
$INND Looks like a clear pathway to .01 after 008. What a powerhouse of a day, and on low volume too!
This run has just begun...with other retailers about to sign on, and FDA regulation approval, this WILL rise above a dime, IMO. There's just too much happening here that can put INND above and ahead of all other HA companies!
And then there's FOMO, which is like fuel on a fire.
From what I was able to ascertain, Hearing Assist's core business was/is Wal Mart. They had very few if any other accounts, likely offering exclusivity to WM. When COVID hit, and the WM PO's stopped flowing in, HA found themselves unable to carry themselves forward, with manufacturing debts that could not be paid without retail sales, which were non-existent in 2020. Enter in INND, offering a lifeline that not only keeps HA alive, but combines forces with iHearMedical to become a major player in the HA segment.
Bid
0.0073
Ask
0.0074
B/A Size
2822578x333589
The massive numbers INND is about to put forth, as guaranteed with their placement in 1499 Wal Mart Stores, is about to bring in a flood of deep-pocketed investors who KNOW how to spot giants before their 'prime'.
We've counted 7 Eargo employees who in the past year have left their NASDAQ company to join INND. That is VERY telling to me.
Hearing Assist did 24 million a year in under 600 Wal Mart Stores, and now we're in 1499. That equates to 150 million in revs over the next three years, JUST for Hearing Assist. iHearMedical will be distributed to a multitude of other retailers, with MANY locations.
FDA approval is imminent.
It's a great time to be an INND shareholder.
Might be time to bu-bu-buckle up, 'boys and girls'.
73 hitting!