Yes, looking at some patents. Exactly as I expected. Gain ranging preamplifier prior to conversion with multiple converters. I would look into the difference between dynamic range, and SNR.
Our ears have maybe 60 db SNR, and the muscle that adjusts sensitivity allow a 120 db dynamic range. So they are doing something similar. They likely have 110 or 120 SNR, and with multiple ADC's and preamp gain riding maybe they manage 150 db dynamic range.
So misdirection. Maybe in a sense 150 db dynamic range, but not the full resolution of 150 db they are implying. And that's if they really achieve what they claim.
Actually, you can argue for 80dB of adjumstment in the cochlea, although after 60dB the mechanisms start to widen the filter bandwidths substantially. The stapes reflex kicks in above that, but really doesn't get you that much more. So I'd still go for total of 90dB in anything approximating a clean 'reception'.
Some things to remember.
1) at 120dB there is measurable nonlinearity in air transmission
2) at 140dB there is mostly nonlinearity
3) 194dB SPL is 1 atmosphere peak sounds, and doesn't exist because the whole linear transmission approximation fails utterly at such levels.
4) The air noise at the eardrum is between 6dB SPL and 8.5dB SPL. This is due to the brownian motion of the air molecules hitting the eardrum. Going below that over 20-20k is an "interesting" thing to accomplish.
5) In order to get a an SNR of some particular level, you need to convert the SNR back to an absolute ratio, then square it, to find out how many electrons/second need to be moving in that circuit to accomplish that kind of SNR. The charge on the electron is not as small as imagined.
Some points I make now and then:
1) a 32 bit fixed-point convertor, set to range from atmospheric self-noise to peak, provides a peak level of about 198dB SPL. The only possible term for that is "military" and the only "transducers" tend to consist of unstable chemicals that only work once per device.
2) For 144dB (24 bits) you need 2^48th electrons per second flowing at peak level from your microphone capsule/whatever into the preamp. Do that math, ok? At 600 ohms, thats'a bout 25 milivolts out of the mike.
3) for 32 bits, you need 2^64th electrons per second. Now that is NOT happening in any safe environment. Nope.