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Friday, February 05, 2021 2:15:50 PM
Key part of article here "With Over the Counter ("OTC") Hearing Aid Act (the "OTC Hearing Aid Act") that was signed into law and expected to take effect sometime this year, we are excited about being a major disruptive player in this new emerging hearing aid industry market of nearly 50 million Americans that have been reported to have hearing issues (the "Underserved Market"). InnerScope is on the forefront leading the way, bringing first to market, FREE and easy access for the public to regularly self-check their hearing while having convenient access to purchase off-the-shelf InnerScope's Hearing Product Portfolio, or be referred to an InnerScope approved local hearing healthcare professional. InnerScope expects to continue to execute on more Hearing Kiosk and Hearing Product distribution agreements ("Distribution Agreements") with North America retailers before the OTC Hearing Aid Act takes effect. Which we believe with established Distribution Agreements already in place will give InnerScope a distinct advantage and a competitive edge in the market. After the OTC Hearing Aid Act becomes effective, it will cause a major disruptive paradigm shift with the current $5 billion dollar U.S. hearing aid industry by directly impacting the hearing healthcare professional delivery model, (of which, 95% of all hearing aids sold in the US are by local hearing healthcare professionals) to now include an OTC delivery retail model for any and all retailers to be able to sell FDA-Registered OTC hearing aids right off-the-shelf. Given the disruptive impact of this imminent paradigm shift, InnerScope will be in prime position to grab a significant share of this new emerging Underserved Market (estimated to be in the tens of billions of dollars). This has been the driving force that has kept, and continues to keep, us pushing forward regardless of the challenges," continued Mr. Moore.
https://www.otcmarkets.com/stock/INND/news/InnerScope-Hearing-Technologies-OTCQB-INND-Posts-318-Year-Over-Year-Revenue-Growth?id=251821
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