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MIAMI, FL, June 28, 2024 (GLOBE NEWSWIRE) — Earth Science Tech, Inc. (OTC: ETST) (“ETST” or the “Company”), a holding company currently focused on the health and wellness industry, today announced financial results and third quarter 2024 highlights. Until March 31, 2024.
Financial Performance:
- Cash was $697,721, an increase of $661,965 compared to $35,756 for the year ending March 31, 2023. This represents an improvement of 1,851.34% over the prior year.
- Total assets were $3,881,336, an increase of $1,153,365 compared to $2,727,971 for the year ending March 31, 2023. A 42.28% improvement over the prior year.
- Revenue was $11,953,635, an increase of $11,905,098 compared to $48,537 for the year ending March 31, 2023. This represents a 24,527.88% improvement over the previous year.
- Gross profit was $7,828,496, an increase of $7,806,435 compared to $22,060 for the year ended March 31, 2023. This represents a 35,387.28% improvement over the prior year.
- Net income was $812,139, an increase of $1,177,544 compared to a loss of $365,405 for the fiscal year ending March 31, 2023. This represents a 322.26% improvement over the previous year.
Annual highlights:
- The Company repurchased 5,200,002 shares of its common stock for an aggregate purchase price of $178,000.08. Announces $5 million common stock repurchase program.
- The Company expanded its executive/administrative space on the 22nd floor of Town One Center, which is home to RxCompoundStore.com, LLC. (“RxCompound”), adding approximately 2,500 square feet and access to a conference/meeting room. The Company also expanded its off-site storage space by approximately 1,500 square feet. This increases the Company’s footprint from approximately 2,000 square feet a year ago to approximately 6,000 square feet today, a 200% expansion.
- We have a great board of directors consisting of five members, two of whom are independent.
- Our board of directors has established a three-member audit committee, which includes two independent directors.
- The company has hired Ernesto L. Flores as its new CFO.
- We have hired Chris Rose as our Chief Technology Officer (CTO) to transform our technology and digital compliance across the organization.
- The company has 39 permanent employees and a further eight independent/temporary contractors.
- RxCompound is approved in 22 states and has approval pending in several others.
- RxCompound continues to refine and develop DocProtocol.com to give prescribers access to unique protocols that can help improve the health and wellness of their patients using RxCompound prescriptions.
- Peaks Curative, LLC. (“Peaks”) has commenced operations and is revamping the assets listed below and generating sales across all segments of its business.
- Peaks currently has five prescribers on its platform (approved as RxCompound in most states), and that number is expected to grow as marketing efforts increase sales volume.
About Earth Science Tech, Inc.
Earth Science Tech, Inc. is a holding company that currently operates compounded pharmaceutical and telemedicine businesses through its wholly owned subsidiaries, RxCompoundStore.com, LLC., Peaks Curative, LLC. and Earth Science Foundation, Inc.
For more information, please visit: Earth Science and Technology
All Rights Reserved.
RxCompound is a full-service compounding pharmacy. RxCompound is currently licensed to fulfill prescriptions in Delaware, Florida, Pennsylvania, New York, Arizona, New Jersey, Wisconsin, Minnesota, Rhode Island, Utah, Georgia, Nevada, Massachusetts, Missouri, Iowa, Maryland, Ohio, Colorado, North Carolina, Maine, Indiana, and Illinois. RxCompound is in the process of applying for licensure in the remaining states where it is not yet approved to fulfill prescriptions.
For more information, please visit: Click here for details
About Peaks Curative, LLC.
Peaks is a telemedicine referral site that facilitates asynchronous consultations for branded compounded medications manufactured by RxCompound. Currently, Peaks is able to fill prescriptions in all 50 states using a third-party consultation service, but can only fulfill prescriptions in states where RxCompound is licensed. As RxCompound becomes licensed in additional states, Peaks will be able to fill prescriptions in more states.
For more information, please visit: PeakSculptural
About the Geoscience Foundation
Earth Science Foundation Inc. is our preferred organization and is essentially a non-profit organization that was incorporated on February 11, 2019 and is ready to accept grants and donations to help those who need assistance paying for their prescription medications.
Safe Harbor: Forward-looking statements are made 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 the Company’s anticipated future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive position, growth opportunities, plans and objectives of management with respect to future operations or listing on an exchange (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 the Company’s control, that may cause actual results, performance or achievements to differ materially from the results, performance or achievements projected. The Company is under no obligation (and expressly disclaims any such obligation) to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise. There can be no assurance that the Company will be able to complete additional acquisitions or obtain approval for listing on the NASDAQ. No information in this press release should be construed as an indication of the future performance of our earnings, financial condition or stock price.
Company Contact:
Giorgio R. Somat
CEO and Chairman of the Board
(305) 724-5684
email address
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