You have to wonder if this technology is so great, why sell it themselves? They could have licensed it to the likes of Sony, and make a bucket load more money.
Personally, I have read said paper and they don't provide the same conclusion as what they are trying to sell. In the end this "device" does not prevent you from losing your hearing. It seems to just minimize your acoustic reflex so you "hear louder" and so you don't turn the volume up. In fact in the NSF fluff press release, they talk all about audio fatigue and not a single word about hearing loss. A fine point they don't talk about in their marketing.
Also, about their so called research. They make a big point to mention the National Science Foundation in their materials. Which IMHO is there to make people think their stuff has been approved by those big brains at the NSF. They conveniently avoid talking about their funding coming from NSF's small business grants which are not exactly the same as the sort of grants and funding given to academic research. Having experience in obtaining government grants for research, I know there can be a lot of leeway. You can get grants for stuff that are for all intent and purpose useless if you write your proposal write and aim for the grants that does not have high value and low levels of review before being granted.