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Technologies?
Answer: InnerScope Hearing Technologies is a technology-driven company disrupting the
current $5 billion dollar U.S. hearing aid market and industry with its manufacturing and
distribution of high quality affordable hearing aid technology Direct-to-Consumers (DTC) at a
50% to 75% lower price then any of the leading hearing aid manufacture.
The consumers don’t realized that there are currently only 5 global hearing aid manufactures
in the world that manufactures 98% of all the hearing aids sold worldwide. Which has created
an oligopoly, where a small number of large manufacturers/sellers is able to reduce and
control competition within the marketplace. Less competition results in higher prices for
consumers and less innovation and customer service. Unfortunately, this oligopolistic
hearing aid marketplace has left approximately 40 million people in the U.S. alone being
underserved and thus left with the health related consequences of untreated hearing loss, just
because they could not afford the high cost of hearing aids.
InnerScope is leading the way by creating an industry economic change with its development
and delivering sales model of new innovative of high quality low-price hearing products at
factory-direct pricing through various DTC sale channels.
InnerScope is also leading the way developing new hearing treatments and hearing therapies
for the 1.2 billion people around the world that are suffering from hearing loss and/or
hearing disorders.
Once you obtain the FDA market clearance; what is InnerScope’s Plans for
the Tinnitus Laser?
Answer: When InnerScope receives it 510K Market Clearance, InnerScope will have the only
FDA-Cleared device on the market for treating of Tinnitus that is not considered maskers
and/or management devices. InnerScope’s Tinnitus Laser would be a treatment for the
relief of Tinnitus symptoms.
With InnerScope’s long-term Agreement with Erchonia to manufacture InnerScope’s Tinnitus
Laser, InnerScope’s plans on marketing this worldwide to the hundreds of millions of people
who suffer from Tinnitus. The revenue potential for InnerScope just on it Tinnitus Laser would
be in the billions of dollars.
However, that said our first marketing priority and revenue opportunity would be to the U.S.
Veterans Association (VA). As just reported a few days ago on the CBS morning show, 2.7
million veterans are suffering from Tinnitus and hearing loss. Currently, the government pays
out or $3 billion dollars for claims related to Tinnitus. InnerScope’s Tinnitus Laser is a great
solution to help our Veterans.
InnerScope is also opening its own audiological hearing aid retail locations in
Northern California; what’s InnerScope’s overall strategy and plans for the
hearing aid retail locations?
Answer: As part of our multiple hearing aid sales channels strategy, InnerScope has enacted
an Expansion Roll-out Plan to open new audiological hearing aid retail clinic locations within
Northern California.
We decided to start the Roll-out Plan in the Northern California area since the founders of
InnerScope already had a successful multi-chain of audiological hearing aid retail locations
within that area, which they sold in 2016. InnerScope started its Roll-out Plan in August of
2018 after the founders covenant not to complete had expired.
We believe this strategy of owning Brick and Mortar audiological hearing aid retail clinics
makes sense to be able have an immediate impact in every market by creating an economic
change in the current professional hearing aid delivery model with InnerScope’s high quality
factory direct pricing model. This strategy also lends to our on-line sales channels by offering
customers that bought online the choice to go to any one InnerScope’s physical locations to
receive help or get their hearing device service by an onsite hearing healthcare professional
as part of their hearing aid service warranty.
How many hearing aid retail locations are currently opened?
Answer: There are 7 hearing aid locations owned and operating under InnerScope’s
dba brand name of “Value Audiology & Hearing Aid Center in Sacramento and San Francisco
Bay Area.
Can you give some insight on the financial outlook for each location?
Answer: Each location with average 6-month ramp up in the each marketplace should
generate a minimum of 500k to 1.5M in annual revenue.
So, by end of year 2022 based on continuing to open new locations, we anticipate revenues
from InnerScope’s audiological hearing aid retail clinic division to be in excess of one hundred
million ($100,000,000)
Your last press released stated the InnerScope launched CBD Oil for Tinnitus
and Hearing Disorders; can you explain why InnerScope entered into
this market space?
Answer: InnerScope is continuing to develop, as part of its charter and mission new hearing
treatments and hearing therapies. With all of the growing studies showing how safe and
effective using CBD Oil for a multitude of conditions, including helping to manage the
symptoms of Tinnitus it was a natural fit to our add to our Hearing Health Products of
Doctor-Designed Nutritional Dietary Supplements.
We believe InnerScope’s Tinnitus CBD Oil with its proprietary formulation will be a will be a
sought out as a viable option for Tinnitus suffers. Especially, for people over the age of 65,
which is currently one of the biggest growing population of users of CBD Oil.
We have already started to receive pre-orders for InnerScope CBD Oil and the press release is
only been out for a few days.
Do you have any sales or revenue projections for your CBD Oil and
vitamins?
Answer: It’s hard to predict, butgiven the popularity and the estimated growth of the overall
CBD Oil market to hit $22 billion by 2022, we are expecting the sales to grow from a few
hundred bottles a month to thousands of bottles a month just with our CBD Oil.
However, the Nutritional Hearing Vitamins would be based off the success of Bausch & Lomb’s
Eye Vitamin Line, which sold over $223 million in sales for 2018.
Either way, InnerScope CDB Oil and Nutritional Hearing Vitamins will be a huge profit
center for InnerScope starting in April 2019