InnerScope
Hearing (OTC: INND) Signs
an LOI to
License Audio Cardio Inc. Sound
Therapy Technology to Deploy a Subscription-Based Mobile
App
InnerScope plans
to develop and market a
subscription-based mobile app using
AudioCardio's proprietary clinically
proven Threshold Sound Conditioning Technology
for the 188+ million people who own a smartphone and
have a sensorineural hearing loss.
ROSEVILLE, CA -- April 26, 2021 -- InvestorsHub NewsWire
-- InnerScope Hearing Technologies Inc.
(OTC:
INND) ("InnerScope"),
an
emerging and disruptive
leader in
the Direct-to-Consumer Hearing Device and
Hearing Health
Technology space,
announces that
it has
signed a Letter of Intent Agreement
(the
"LOI
Agreement")
with Audio Cardio Inc. dba AudioCardio™
("AudioCardio"), granting
InnerScope a worldwide license
(excluding Japan, Korea, and China) for full
commercial rights
to
develop,
market,
and
sell an
InnerScope
branded
subscription-based mobile app
(InnerScope's
"Hearing Therapy App") utilizing
AudioCardio™
proprietary
software
which
has
clinically
proven Threshold Sound
Conditioning technology, i.e.,
"Physical Therapy for
Your
Hearing."
Additional
terms of
the LOI Agreement, AudioCardio
will also
grant the
rights for InnerScope to market and resell the AudioCardio™
Hearing
Training sound therapy mobile subscription-based
app
(currently offered
on the
Apple
App Store
and Google Play Store)
in any
country (excluding Japan, Korea, and China) through its various
retail distribution channels and websites during the time of
InnerScope's
Hearing
Therapy App is being developed. The LOI Agreement
requires InnerScope and AudioCardio to execute a material
definitive agreement within 60 days of signing the LOI
Agreement.
The
proposed
transaction allows both
InnerScope
and
AudioCardio
to
achieve greater market penetration by creating visibility and
awareness for Threshold Sound
Conditioning Therapy in
treating
sensorineural hearing
loss and
treating
tinnitus (ringing in the ears) due to otoacoustic
trauma. InnerScope
believes
its subscription-based Hearing Therapy App can
reach
tens of
millions of people worldwide
suffering
from hearing
loss
and/or tinnitus that either
can't
afford or
may not have access
to
hearing
health services
but
does
own or
has access to a smartphone.
InnerScope plans on
marketing its Hearing Therapy App for a monthly, semi-annual, and
annual subscription starting at $14.99
per month to an estimated 188+
million people who own a smartphone and have sensorineural hearing
loss. Based on minimum milestones for paid monthly subscribers
outlined in the LOI Agreement, InnerScope expects to achieve
minimum
monthly
net revenues of over $64,000 from paid subscribers in the first
year and expects
exponential growth in
monthly paid subscribers year over year.
AudioCardio™ Proprietary
Threshold Sound Conditioning -
"Physical Therapy for
Your Hearing."
Threshold Sound Conditioning Therapy technology detects the key
frequencies that have lost sensitivity (commonly due to noise
exposure and aging) and exercises them with personalized sound
signals.
AudioCardio
users assess their hearing to generate personalized barely audible
sound therapies to maintain and strengthen their
hearing.
AudioCardio's
Threshold
Sound Conditioning works
by understanding an individual's
lowest
threshold of sound (minimum audible level) at several frequency
ranges for each ear via their in-app hearing assessment. Once a
baseline threshold has been established for each frequency range,
the Threshold Sound Conditioning algorithm (sound therapy) targets
the most damaged range of frequencies per ear by stimulating the
cells responsible for transmitting the "noise"
from
our environment into electrical signals. These electrical signals
are then transmitted to the brain through the auditory
system to
be
interpreted and perceived as sound. The sound therapy is played at
the barely audible or just inaudible level based on each hearing
assessment. After consistent use, the inaudible sound therapy may
become audible, indicating progress. AudioCardio's
sound
therapy is then adjusted through subsequent hearing assessments for
new hearing thresholds as customers make progress using the
app.
Clinically
Proven Threshold Sound Conditioning – Back by Data and
Science
AudioCardio's
technology
has been clinically proven in a double-blind randomized controlled
trial conducted with Stanford University
and
Palo Alto Medical Foundation. 78%
of the participants had more than a 10 decibel change in their
hearing for the frequencies that were targeted.
- AudioCardio's
technology had recently
published a randomized controlled clinical study with
Stanford University*. *The
study can be found at https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7314479/
- AudioCardio's
technology
also
has
been clinically validated with distinguished research facilities,
proving the efficacy of Threshold Sound
Conditioning. A
white paper regarding the science of sound
therapy
can
also be read here.
Chris
Ellis, President and CEO of Audio Cardio Inc., commented,
"We are very excited
about the opportunity partnering with InnerScope. We believe that
AudioCardio will bring unique value and capabilities to
InnerScope's
Direct-to-Consumer
product
offering to help accelerate
the development and overall growth of InnerScope.
We are
prepared and intend to help drive InnerScope growth
strategy."
"We are thrilled to have
the opportunity to utilize
AudioCardio's proprietary
software,
including their
clinically proven Threshold Sound Conditioning technology
for InnerScope's Hearing Therapy
App," said
Matthew Moore, CEO of InnerScope Hearing Technologies.
"We are very excited about
entering into the mobile subscription-app
space, giving InnerScope greater
capabilities for growth
and revenue potential.
With AudioCardio's help
and its
technology, InnerScope,
through its Hearing Therapy
app, will be able to
reach a more significant
number of people around the world with
untreated hearing loss by offering a
proven hearing treatment using
only their smartphone.
The Hearing Therapy App
would also give InnerScope visibility to
offer its
potentially hundreds of
thousand subscription customers who
might need or
want InnerScope's
Affordable Direct-to-Consumer Rechargeable
App-Controlled Self-Adjusting Hearing
Devices or other
InnerScope's Hearing Health
Products."
"InnerScope is
a data-centric company focused on creating a
continues revenue eco-system
from collecting data from
tens of millions of
people around the world
who have a
hearing loss and/or who
suffer from tinnitus
and can monetize
the data;
through multiple
Direct-to-Consumer
online/in-store retail/wholesale
sales channels."
About InnerScope Hearing Technologies (OTC:
INND)
InnerScope Hearing
Technologies as a manufacturer,
distributor, and retailer of FDA-Registered Direct-to-Consumer
("DTC")
App-Controlled
Self-Adjusting Hearing Aids,
App-Controlled
Self-Adjusting Personal Sound
Amplifiers Products, Doctor-Formulated
Dietary Hearing & Tinnitus Supplements, and Assorted Ear &
Hearing Health-Related Products (collectively "Hearing
Products") its
mission
is to improve the quality of life of the 70 million people in North
America who suffer from hearing impairment and/or hearing-related
issues. The management team of InnerScope is applying decades of
industry experience and believes it is well-positioned to directly
benefit from the Over the Counter Hearing Aid Act
(expected to be
enacted within the next few months). InnerScope with
its Affordable App-Controlled Self-Adjusting Hearing
Technology (visit:
NoHassleHearing.com) combined with its
innovative point of sale Hearing Screening Kiosks designed for
consumers with mild-to-moderate hearing loss to purchase
over-the-counter hearing aids without being seen by a hearing care
professional. For more information, please visit www.innd.com.
Please be
aware InnerScope social media accounts from time to time are used
for additional information about material events.
https://twitter.com/inndstock
https://t.me/innerscope (InnerScope Investor
Group Chatroom)
https://stocktwits.com/symbol/INND
https://www.youtube.com/channel/UCkilAxjZESjMz_Gd7QIYhmw
(InnerScope Official
YouTube Channel)
About Audio
Cardio Inc.
Audio
Cardio, Inc. is a technology company focused on hearing health and
wellness. As
seen on "Meet the Drapers," TV Show on Sony Entertainment
Television. Recently launched a Crowdfunding Campaign with
Republic, for more info please visit: https://republic.co/audiocardio
About
AudioCardio™
mobile app
AudioCardio is
a data and science-backed
mobile
app designed to maintain and strengthen hearing. AudioCardio
customers have not only reported changes in their hearing but in
their perception of tinnitus as well. AudioCardio works by
providing a hearing assessment to identify damaged frequencies and
generate personalized and barely audible sound therapies based on
this assessment. Through consistent use, AudioCardio hopes to help
promote and support the neural activity and connections required
for sound to travel from our environment to the part of our brain
that is responsible for interpreting it as meaningful
sound.
Safe Harbor
This news
release contains "forward-looking
statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended intended to
be covered by the "safe
harbor" created by those
sections. Any statements that are not historical facts contained in
this press release are also "forward-looking
statements" as that term is
defined under the Private Securities Litigation Reform Act of 1995
(PSLRA). Such statements may be identified by words such as
"expects,"
"plans,"
"projects,"
"will,"
"may,"
"anticipates,"
"believes,"
"should,"
"intends,"
"estimates,"
and other
words of similar meaning. Such forward-looking statements are based
on current expectations, involve known and unknown risks, a
reliance on third parties for information, transactions or orders
that may be cancelled, and other factors that may cause our actual
results, performance or achievements, or developments in our
industry, to differ materially from the anticipated results,
performance or achievements expressed or implied by such
forward-looking statements. Factors that could cause actual results
to differ materially from anticipated results include risks and
uncertainties related to the fluctuation of global economic
conditions, the performance of management and our employees, our
ability to obtain financing or maintain contractual relationships
with vendors and customers, competition, general economic
conditions and other factors that are detailed in our periodic
reports filed with the Securities and Exchange Commission
("SEC").
We intend that all forward-looking statements be subject to the
safe-harbor provisions of the PSLRA, Securities Act and Securities
Exchange Act.
Contact:
InnerScope Hearing
Technologies, Inc.
Investor
Relations
ir@innd.com
833-788-0506
www.innd.com
For the
Most Up-to-Date Information
about
InnerScope Hearing Technologies (OTC:
INND), please visit and follow our Official Twitter account
@inndstock Page.
NoHassleHearing.com
Over the Counter Hearing Aid
Act,
https://twitter.com/inndstock
https://republic.co/audiocardio
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