As we continue to scope for new big stories and moves, you will want to take a look at INNERSCOPE HEAR/SH SH (OTCMKTS: INND). This is a tiny play that just latched onto a Walmart contract opportunity, and saw shares rip higher in response.
The company just announced the signing of a supplier agreement as a direct shipped vendor (“DSV”) for Walmart.com. According to the release, “The Company has been accepted as a Walmart.com USA, LLC, a wholly-owned subsidiary of Wal-Mart Stores, Inc. (“Walmart.com”) supplier and will sell its FDA-Registered Hearing Aids and its Personal Sound Amplifier Products (“PSAPs”) to Walmart.com as the retailer for Direct-To-Consumer online retail sale.”
INNERSCOPE HEAR/SH SH (OTCMKTS: INND) casts itself as a technology driven company with highly scalable B2B and B2C solutions. The Company offers a B2B SaaS based Patient Management System (PMS) software program, designed to improve operations and communication with patients.
INND also provides a Buying Group experience for the audiology practice enabling owners to lower product costs and increase their margins. INND will also compete in the DTC (Direct-to-Consumer) markets, including revolutionary APPs on the iOS and android markets.
INND has plans on opening, operating and expanding a chain of audiological and retail hearing device clinics. INND’s seasoned team of professionals, with collectively over 200+ years of experience in the hearing aid industry, including successful operations in hearing aid manufacturing and retail store management. Our team has the knowledge, relationships, and the experience to quickly deploy new products and software to serve approximately 1.2 billion people around the globe that are suffering with 25 db or greater hearing loss.
According to company materials, “The Company will also be operating and expanding a chain of audiological and hearing device clinics with a seasoned team of professionals with collectively over 200+ years of experience in the hearing aid industry, including successful operations in hearing aid manufacturing and retail store management. Our team has the knowledge, relationships, and the experience to quickly deploy new products and software to serve the 360 million people around the globe that are hearing impaired. The Company is dedicated to serving the audiology and the retail hearing aid dispensing community and have developed a program to contribute to various hearing aid focused charities.”
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Recent action has seen just shy of 420% added to share values of the name over the past week of action, but that move comes in the context of a larger bearish trend.
Furthermore, the listing has seen interest climb, with an increase in recent trading volume of just under 940% over what the stock has registered over the longer term. This should not be overlooked with the stock trading on a float that is extremely small at just 5.4 million shares.
“We were excited when Walmart.com contacted us and wanted to be a retailer for all of InnerScope’s hearing products,” said Matthew Moore, CEO of InnerScope Hearing Technologies. “We signed the supplier agreement as Walmart.com’s direct ship vendor in the U.S. for all of our hearing products and we are very pleased to have forged this new supplier relationship with an American company like Wal-Mart and Walmart.com. We know our affordable high-quality hearing products will be well represented online by Walmart.com. We are expecting great success and a long-term relationship with Walmart.com as a retail partner and we are looking forward to extending InnerScope’s hearing products to Wal-Mart’s brick and Mortar Stores,” continued Mr. Moore.
Now commanding a market cap of $744K, INND has virtually no cash on the books, which must be weighed relative to about $429K in total current liabilities. One should also note that debt has been growing over recent quarters. INND is pulling in trailing 12-month revenues of $382K. However, the company is seeing declines on the top-line on a quarterly y/y basis, with revenues falling at -61.3%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $INND stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $INND, either long or short, and we have not been compensated for this article.