In recent times, InnerScope Hearing Technologies Inc (OTCMKTS:INND) has emerged as one of the more notable disruptive players in the direct to customer hearing technology industry.
Trading Data
On Monday, INND stock fell 6.32% to $0.0089 with more than 43.93 million shares, compared to its average volume of 71.92 million shares. The stock has moved within a range of $0.0084 – 0.0097 after opening trade at $0.0097.
Retains PCAOB Auditor Paris, Kreit & Chiu LLP to Perform 2019, 2020, and Q1-Q3 2021 Audits
While that may be the case, the InnerScope Hearing Technology stock has performed poorly in the past few days and it continued yesterday as it tanked by another 6%. That took the decline recorded over the course of the past week to as much as 16%. Although the decline may be a bit alarming for many investors, at the same time, it ought to be recognised that the company made a major announcement yesterday.
InnerScope Hearing Technology announced yesterday that it had decided to retain the services of Paris, Kreit& Chiu LLP as its auditor. The independent audit firm is going to be responsible for taking care of the work related to the auditing of the company’s financial results 2019, 2020 and first quarter up until the third quarter of 2021.
However, that was not all. The company also noted that it was going to submit a Form S-1 or 10 for the purposes of turning into a fully reporting company to the United States Securities and Exchange Commission. It remains to be seen if the stock continues to slide today or not.
Technical Data
INND stock is trading below the 20-Day and 50-Day Moving averages of $0.0106 and $0.0124 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0148. The stock is down 21% in the past month.
