Earth Science Tech Files 2024 10-K

TL;DR

Earth Science Tech (ETST) filed its annual 10-K for FY24, showing its financial status. Formerly Ultimate Novelty Sports.

AI Summary

Earth Science Tech, Inc. filed its 10-K for the fiscal year ending March 31, 2024, reporting on its operations as a pharmaceutical preparations company. The filing details financial performance and corporate structure, with the company previously known as Ultimate Novelty Sports Inc. before a name change on December 30, 2011. The company is incorporated in Nevada and headquartered in Miami, Florida.

Why It Matters

This 10-K filing provides investors and stakeholders with a comprehensive overview of Earth Science Tech's financial health and operational status for the fiscal year 2024, crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: medium — As a 10-K filing, it represents a standard annual report, but the specific financial details and operational risks within the filing would determine the true risk level.

Key Numbers

• 000-55000 — SEC File Number (Identifies the company's SEC filing series.)
• 2834 — SIC Code (Indicates the company operates in Pharmaceutical Preparations.)

Key Players & Entities

• Earth Science Tech, Inc. (company) — Filer of the 10-K
• Ultimate Novelty Sports Inc. (company) — Former name of Earth Science Tech, Inc.
• 20240331 (date) — Conformed period of report
• 20240628 (date) — Filed as of date
• Miami, FL (location) — Company headquarters

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock $0.001 par value ETST Over the Counter Bul

Filing Documents

• form10-k.htm (10-K) — 943KB
• ex31-1.htm (EX-31.1) — 13KB
• ex31-2.htm (EX-31.2) — 13KB
• ex32-1.htm (EX-32.1) — 9KB
• ex32-2.htm (EX-32.2) — 8KB
• form10-k_001.jpg (GRAPHIC) — 4KB
• form10-k_002.jpg (GRAPHIC) — 5KB
• form10-k_003.jpg (GRAPHIC) — 2KB
• form10-k_004.jpg (GRAPHIC) — 4KB
• 0001493152-24-025578.txt ( ) — 4479KB
• etst-20240331.xsd (EX-101.SCH) — 46KB
• etst-20240331_cal.xml (EX-101.CAL) — 55KB
• etst-20240331_def.xml (EX-101.DEF) — 102KB
• etst-20240331_lab.xml (EX-101.LAB) — 286KB
• etst-20240331_pre.xml (EX-101.PRE) — 222KB
• form10-k_htm.xml (XML) — 508KB

Selected Financial Data

Selected Financial Data 13 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 14 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 19 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data. 19 Item 9A.

Controls and Procedures

Controls and Procedures . 21 Item 9B. Other Information. 22 PART III Item 10. Directors, Executive Officers and Corporate Governance. 23 Item 11.

Executive Compensation

Executive Compensation. 25 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 27 Item 13. Certain Relationships and Related Transactions, and Director Independence. 30 Item 14. Principal Accounting Fees and Services. 30 PART IV Item 15. Exhibits, Financial Statement Schedules. 31 Item 16. FORM 10-K Summary 31

SIGNATURES

SIGNATURES 32 2 WHERE YOU CAN FIND MORE INFORMATION We file annual, quarterly, and current reports, proxy statements and other information required by the Securities Exchange Act of 1934, as amended (the "Exchange Act"), with the Securities and Exchange Commission (the "SEC"). You may read and copy any document we file with the SEC at the SEC's public reference room located at 100 F Street, N.E., Washington, D.C. 20549, U.S.A. Please call the SEC at 1-800-SEC-0330 for further information on the public reference room. Our SEC filings are also available to the public from the SEC's internet site at http://www.sec.gov . On our Internet website, http://www.earthsciencetech.com, we post the following recent filings as soon as reasonably practicable after they are electronically filed with or furnished to the SEC: our annual reports on Form 10-K, our quarterly reports on Form 10-Q, our current reports on Form 8-K, and any amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act. When we use the terms " ETST," "Company," "we," "our," and " us," we mean Earth Science Tech, Inc., a Florida corporation, and its consolidated subsidiaries, taken as a whole, as well as any predecessor entities, unless the context indicates otherwise. FORWARD LOOKING STATEMENTS This Annual Report on Form 10-K, the other reports, statements, and information that the Company has previously filed with or furnished to, or that we may subsequently file with or furnish to, the SEC, and public announcements that we have previously made or may subsequently make include, may include, or may incorporate by reference certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, and that are intended to enjoy the protection of the safe harbor for forward-looking statements provided by that Act. To the extent that any statements made in this report cont

BUSINESS

BUSINESS BACKGROUND AND OVERVIEW Earth Science Tech, Inc. ("ETST" or the "Company") was incorporated under the laws of the State of Nevada on April 23, 2010. The Company subsequently changed its domicile to the State of Florida on June 27, 2022. As of November 8, 2022, the Company is a holding entity set to acquire companies with its current focus in the health and wellness industry. The Company is presently in compounding pharmaceuticals and telemedicine through its wholly owned subsidiaries RxCompoundStore.com, LLC. ("RxCompound"), Peaks Curative, LLC. ("Peaks"), and Earth Science Foundation, Inc. ("ESF"). RxCompound is a complete compounding pharmacy. RxCompound is currently licensed to fulfill prescriptions in 22 states: 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 application process to obtain licenses in the remaining states in which it is not yet licensed to fulfill prescriptions. Peaks is a telemedicine referral site focused on overall health and wellness for men and women. Peaks' orders are exclusively fulfilled by RxCompound. Patients who order Peaks via monthly subscription receive their refills automatically. The company intends to expand offerings to include over the counter ("OTC") (non-prescription) products such as supplements and topicals. ESF is a favored entity of ETST, 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. Current Operations CORPORATE STRATEGY The Company currently operates as a holding entity with a presence in the telehealth and compounding pharmaceutical sectors. Its primary objective is to deliver contemporary and personalized health and wellness medications to patients

View Full Filing

View this 10-K filing on SEC EDGAR