8-K
Earth Science Tech, Inc. (ETST)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 13, 2023
Commission
File No. 000-55000
EARTH
SCIENCE TECH, INC.
(Exact name of registrant as specified in its charter)
| florida | 80-0961484 |
|---|---|
| (State or other jurisdiction<br> of | (I.R.S. Employer |
| incorporation or organization) | Identification No.) |
8950SW 74 th CT
Suite101
Miami,FL 33156, USA
(Address of principal executive offices, zip code)
(305)724-5684
(Registrant’s telephone number, including area code)
10650NW 29th Terrace
Doral,FL 33172, USA
(Former name, former address and former fiscal year, if changed since last report)
Securities
registered pursuant to Section 12(g) of the Act:
| Title of Each Class | Trading Symbol | Name of each exchange on which registered |
|---|---|---|
| Common Stock $0.001 par<br> value | ETST | Over the Counter Bulletin<br> Board |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communication pursuant<br> to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant<br> to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications<br> pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications<br> pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item7.01 Regulation FD Disclosure
On November 13, 2023, Earth Science Tech, Inc., a Florida corporation (the “Company”) issued a press release (the “Release”) sharing the Company’s financial results, highlights and outlook based on their November 13, 2023, filed quarter ended September 30, 2023, 10-Q.
The information included in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. The information set forth under this Item 7.01 shall not be deemed an admission as to the materiality of any information in this Current Report on Form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.
Item9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description |
|---|---|
| 99.1 | Press release issued by the registrant on November 13, 2023. |
| 104 | Cover Page Interactive<br> Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| **** | EARTH SCIENCE TECH, INC. | |
|---|---|---|
| Dated: November 13, 2023 | By: | /s/ Giorgio R. Saumat |
| Giorgio R. Saumat | ||
| **** | Its: | CEO and Chairman of the Board |
Exhibit99.1
EarthScience Tech, Inc., Reports Fiscal Q2 2023 Financial Results, Recording Over $1.9M in Revenue for the Quarter
“Strategyis important. EXECUTION is everything. “
Miami, FL, November 13, 2023, Earth Science Tech, Inc. (OTC: ETST) (“ETST” or “Company”), a holding entity currently focused on the health and wellness industry, today shares financial results, highlights, and outlook from record fiscal Q2 2023 report, quarter ended September 30, 2023.
Financial Results:
As of September 30, 2023, the Company recorded:
| ● | $187,694<br> in cash, versus $1,205 in the quarter ended September 30, 2022, and a $151,893 increase compared to the year ended March 31, 2023. |
|---|---|
| ● | $3,041,344<br> in assets, versus $355,762 in the quarter ended September 30, 2022, and a 13% increase compared to the year ended March 31, 2023. |
| ● | $1,927,720<br> in revenue, versus $0 in the quarter ended September 30, 2022, and a $1,879,183 increase compared to the year ended March 31, 2023. |
| ● | $1,181,494<br> in gross profit, versus a $0 in the quarter ended September 30, 2022, and a $1,159,434 increase compared to the year ended March<br> 31, 2023. |
| ● | $444,581<br> in net profit, versus a $73,678 loss in the quarter ended September 30, 2022, and a $823,847 increase compared to the year ended<br> March 31, 2023. |
| ● | $1,107,704<br> in liabilities, a 54% decrease compared to the quarter ended September 30, 2022, and a 31% decrease compared to the year ended March<br> 31, 2023. |
| ● | $3,041,344<br> in Stockholders Equity, versus 355,762 in the quarter ended September 30, 2022, and a 13% increase compared to the year ended March<br> 31, 2023. |
Highlights:
| ● | RxCompoundStore.com<br> is currently licensed in 18 States while 9 additional States have been applied to. |
|---|---|
| ● | Peaks<br> Curative has officially launched and is currently operating PeakNow.com, MySexGummy.com and ViagraMia.com to target Men’s sexual<br> health. |
| ● | Peaks<br> Curative is currently developing various properties including MyOnlineConsultation.com, WLSolution.com, ClearupSkincare.com, ScreamCream.net,<br> iHairSolution.com, as well as other online properties, in order to diversify the Peaks portfolio and increase sales. |
| --- | --- |
| ● | The<br> Company has expanded its Board of Directors to 5 members, including 2 independent directors. |
| ● | The<br> Company is currently evaluating its options including but not limited to acquisitions, dividends and/or buyback of its common stock<br> as proper deployment of its free cash flow. |
ETST’s CEO and Chairman of the Board, Giorgio R. Saumat comments, “We continue to execute. The company has decreased its debt significantlyand we anticipate a further decrease in the current quarter. We have increased asset values, and more importantly increased revenue andpositive cash flows.
Managementhad projected 2M in revenue for the next twelve months after our 1st quarter report, and basically met that number in the 2nd quarteralone, far exceeding my expectations. I’m extremely proud of the entire team at ETST and look forward to the continued executionof the Company’s growth plan.
Managementplanned the strategy; now the team is executing it.”
AboutEarth Science Tech, Inc.
Earth Science Tech, Inc. is a holding entity currently in compounding pharmaceuticals and telemedicine through its wholly owned subsidiaries RxCompoundStore.com, LLC., Peaks Curative, LLC. and Earth Science Foundation, Inc.
To learn more, please visit: www.EarthScienceTech.com
RxCompoundStore.com,LLC.
RxCompound is a complete compounding pharmacy. RxCompound is currently licensed to fulfill prescriptions in the states of Florida, New York, New Jersey, Delaware, Pennsylvania, Rhode Island, Nevada, Colorado, Arizona, Utah, Georgia, Ohio, Georgia, Iowa, Missouri, Wisconsin, Minnesota and Massachusetts. RxCompound is in the application process to obtain licenses in the remaining states in which it is not yet approved to ship prescriptions.
To learn more please visit: www.RxCompoundStore.com
AboutPeaks Curative, LLC.
Peaks is a telemedicine referral site focused on men’s health. Peaks’ orders are exclusively fulfilled by RxCompound. Patients who order Peaks via monthly subscription receive their refills automatically. Currently, Peaks is focused on Men’s health, and, more specifically, ED. The company intends to expand offerings to include over the counter (“OTC”) (non-prescription) products such as supplements and topicals. The OTC products will be custom manufactured or fulfilled through partnered companies under the Peaks brand and offered worldwide.
To learn more please visit: www.PeaksCurative.com
AboutEarth Science Foundation, Inc.
Earth Science Foundation Inc. is a favored entity of the Company, effectively being a non-profit organization that was incorporated on February 11, 2019, and is structured to accept grants and donations to help those in need of assistance in paying for prescriptions.
SAFEHARBOR ACT: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, listing on the CSE, including words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
CompanyContact:
Giorgio R. Saumat
CEO and Chairman of the Board
(305) 724-5684
grsaumat@earthsciencetech.com