Miami, FL, Nov. 14, 2022 (GLOBE NEWSWIRE) — Earth Science Tech, Inc. (OTC: ETST) (“ETST” or the “Company””, a portfolio entity intended to acquire companies in the field of health and wellness currently in pharmaceutical compounding and telemedicine through its wholly-owned subsidiaries, today announced financial and operating results for its second quarter of fiscal 2023 closed on September 30, 2022 as planned (see version).
Q2 2023 Highlights:
- Net loss for the second quarter was $228,360.
- The Company had a cash balance of $1,205 as of September 30, 2022.
- The Company had total assets of $355,762 as of September 30, 2022.
- Beginning of corporate name change to “Smart Curative Solutions, Inc.” and stock symbol change to “SCSI”.
Recent Business Highlights:
- The Company has repaid approximately $1,118,334 of its debt, 47% of the Company’s liabilities thereafter from the period ending September 30, 2022, reported 10-Q and will be reflected in the third quarter period of fiscal year 2023 ending December 31, 2022’s 10-Q.
(vsee classified 8-K)
- The company has consummated its two merger candidates, RxCompoundStore.com, LLC. (“RxCompound”) and Peaks Curative, LLC. (“Peaks & CloseCurlyDoubleQuote;) of its agreement signed on November 7, 2021 and subsequently amended on November 8, 2022. RxCompound and Peaks have approximately 75 days from the date to complete their PCAOB audit in order to transfer its books and operations into the company.
(see deposited 8-K)
- The company is now headquartered at RxCompound, located at 8950 SW 74th Court, Suite 101, Miami, FL 33156. RxCompound moved to its new, larger facility in June 2022 to facilitate its planned growth, including the addition in progress of a sterile preparation room to offer injectable products.
- The Company has secured financing during the month of October 2022 until the date the Company achieves cash flow positive status.
(see deposited 8-K)
- RxCompound started the construction of its sterile preparation room during the month of October 2022. It is expected to be operational in early 2023.
- RxCompound began construction of its Dangerous Prep Room in early November 2022, to expand its product offering to include hormone creams. The hazardous products preparation room should be operational in December 2022.
- Peakscurative.com successfully launched its beta site in the month of July 2022. The possibility of additional product offers is added ahead of its official launch scheduled for the month of January 2023.
- Complete PCAOB for Peaks during November 2022 and RxCompound in early January 2023. Once either or both are completed, the company will cease its shell status.
- The company must submit an application to upgrade to the OTCQB level after the completion of the PCAOB audit and the cessation of “Shell Risk” status.
- Addition of independent directors to the board.
- Use the company’s active nonprofit entity, Earth Science Foundation, Inc.
Conference call and webcast:
The company will host a conference call and webcast to discuss its fiscal second quarter results, highlights and outlook at 5:00 p.m. Eastern Time. To join the conference call, please dial the number at least 15 minutes before the start time.
|Login information for attendees only:|
|Toll-free number for participants:||800-267-6316 Primary|
|Direct/international participant:||203-518-9783 Alternate|
|Conference ID:||EARTH SCIENCE|
The conference call will be recorded and accessible on the Investor Relations tab of the Company’s website.
About Earth Science Tech, Inc. (ETST)
Earth Science Tech, Inc. (“ETST””) a holding entity that is to acquire companies in the health and wellness field currently in the preparation of pharmaceutical and telemedicine products through its wholly owned subsidiaries RxCompoundStore.com, LLC. and Peaks Curative, LLC.
To learn more, please visit: www.EarthScienceTech.com
About RxCompoundStore.com, LLC.
RxCompoundStore.com, LLC. (“RxCompound & CloseCurlyDoubleQuote;), is a compounding pharmacy that has historically focused on men’s health, particularly erectile dysfunction medical products such as Tadalfil and Sildenafil Citrate (the generic names of Cialis and Viagra, respectively) and longevity.RxCompound is currently in the process of securing a sterile preparation room slated to launch in January 2023 to provide sterile products for injection.
To learn more, please visit: www.RxCompoundStore.com
About Peaks Curative, LLC.
Healing Peaks, LLC. (“Peaks”), is the go-to telemedicine site facilitating asynchronous consultations for brand-name compound drugs prepared at RxCompound. Peaks is currently in the final stages of upgrading its website after its soft launch and expanding its product offering, with full launch of Peaks scheduled for January 2023.
To learn more, please visit: www.PeaksCurative.com
SECURE DOOR 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 condition, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, management plans and objectives for our future operations, our CSE listing, 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 differ materially from anticipated results, performance or achievements. We are under no obligation (and expressly disclaim any such obligation) to update or change our forward-looking statements, whether as a result of new information, future events or otherwise.
Nickolas S. Tabraue
CEO and Director