Earth Science Tech Completes Asset Acquisition
Ticker: ETST · Form: 8-K · Filed: Oct 7, 2024 · CIK: 1538495
| Field | Detail |
|---|---|
| Company | Earth Science Tech, INC. (ETST) |
| Form Type | 8-K |
| Filed Date | Oct 7, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, assets, corporate-event
Related Tickers: ETST
TL;DR
ETST just bought some assets, filing shows. Big deal for their biz.
AI Summary
Earth Science Tech, Inc. (ETST) announced the completion of its acquisition of assets from a private company on October 1, 2024. The filing details the transaction as a significant event, with financial statements and exhibits related to this acquisition being provided. The company, formerly known as Ultimate Novelty Sports Inc., is based in Miami, Florida.
Why It Matters
This filing marks a significant corporate development for Earth Science Tech, Inc. as it integrates newly acquired assets, potentially impacting its future business operations and financial performance.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks related to integration, valuation, and market reception, which could impact the company's financial stability and future prospects.
Key Numbers
- 20241001 — Report Date (The filing reports on events occurring on or after this date.)
Key Players & Entities
- Earth Science Tech, Inc. (company) — Registrant
- Ultimate Novelty Sports Inc. (company) — Former company name
- October 1, 2024 (date) — Date of earliest event reported
- Miami, FL (location) — Principal executive offices
- 000-55000 (other) — Commission File Number
FAQ
What specific assets were acquired by Earth Science Tech, Inc.?
The filing indicates the completion of an acquisition of assets but does not specify the exact nature or details of these assets.
What is the financial impact of this acquisition on Earth Science Tech, Inc.?
The filing mentions the inclusion of financial statements and exhibits related to the acquisition, but the specific financial impact is not detailed in the provided text.
When did the acquisition officially close?
The acquisition of assets was completed on October 1, 2024, which is the date of the earliest event reported.
What was Earth Science Tech, Inc. previously known as?
Earth Science Tech, Inc. was formerly known as Ultimate Novelty Sports Inc.
Where are Earth Science Tech, Inc.'s principal executive offices located?
The principal executive offices of Earth Science Tech, Inc. are located at 8950 SW 74th CT Suite 1401, Miami, FL 33156.
Filing Stats: 893 words · 4 min read · ~3 pages · Grade level 11.3 · Accepted 2024-10-07 08:30:23
Key Financial Figures
- $0.001 — ange on which registered Common Stock $0.001 par value ETST Over the Counter Bul
Filing Documents
- form8-k.htm (8-K) — 45KB
- 0001493152-24-039650.txt ( ) — 218KB
- etst-20241001.xsd (EX-101.SCH) — 3KB
- etst-20241001_lab.xml (EX-101.LAB) — 33KB
- etst-20241001_pre.xml (EX-101.PRE) — 24KB
- form8-k_htm.xml (XML) — 4KB
From the Filing
UNITED 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): October 1, 2024 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 of (I.R.S. Employer incorporation or organization) Identification No.) 8950 SW 74 th CT Suite 1401 Miami , FL 33156 , USA (Address of principal executive offices, zip code) (305) 724-5684 (Registrant's telephone number, including area code) 8950 SW 74 th CT Suite 101 Miami , FL 33156 , 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 value ETST Over the Counter Bulletin 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 to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications 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. Item 2.01 Completion of Acquisition On October 1, 2024, Earth Science Tech, Inc., a Florida corporation (the "Company"), completed the acquisition of Avenvi, LLC., ("Avenvi"), a Florida limited liability company, for one million fifty-eight thousand seven hundred eighty-eight dollars and thirty cents cash. The payment structure included an upfront payment of two hundred fifty-eight thousand seven hundred eighty-eight dollars and thirty cents at closing, followed by subsequent monthly payments of two hundred thousand dollars for the next four months. The acquisition encompasses approximately four acres of vacant residential real estate intended for development, one commercial property comprising nearly half an acre featuring a standalone building with five thousand square feet, and cash or cash equivalents held by Avenvi. Visit: avenvi.com Related Party Transaction Giorgio R. Saumat, who currently serves as the Company's Chief Executive Officer (CEO) and the Chairman of Board, is the seller in this transaction. The transaction was reviewed and approved by the Board of Directors to ensure that the terms were no less favorable to the Company than those that could be obtained from unaffiliated third parties. On October 1, 2024, the Company completed the acquisition of Mister Meds, LLC, a Texas limited liability company for fifty-four thousand two hundred dollars cash. Visit: mistermeds.com Related Party Transaction Mario G. Tabraue, who currently serves as the Company's Chief Operations Officer (COO) and is a Director of the Board, is the seller in this transaction. The transaction was reviewed and approved by the Board of Directors to ensure that the terms were no less favorable to the Company than those that could be obtained from unaffiliated third parties. Item 8.01 Other Events On October 1, 2024, the company expanded into the pet and wildlife industry by launching Zoolzy, a brand under Peaks Curative, LLC. Zoolzy specializes in providing compounded medications tailored by RxCompoundstore.com, LLC., to the unique health needs of pets and wildlife. Visit: Zoolzy.com On October 1, 2024, the Company relocated its principal office to 8950 SW 74 th CT Suite 1401, Miami, FL 33156. The new office spans approximately one thousand one hundred twenty-five square feet, adding to the existing two thousand five hundred square feet of administrative space. This brings the Company's total space to around seven thousand one hundred twenty-five total square feet, which includes approximately three thousand one hundred twenty-five square feet of administrative space, about two thousand square feet dedicated to pharmacy operations, and around one thousand five hundred square feet for off-site storage. As of September 30, 2024, the Company has repurchased a total of eleven million five hundred forty five thousand eight hundred ninety eight sha