DORAL, FL, Oct. 07, 2021 (GLOBE NEWSWIRE) -- Earth Science Tech, Inc. (OTC: ETST) (“ETST” or the “Company”), an innovative biotech company focused in nutraceutical and pharmaceutical fields, and medical devices, today announces its planned acquisition structure with RxCompoundstore.com, LLC. (“RxCS”), Peaks Curative, LLC. (“PC”), and JCR Medical Equipment (“JCR”), Inc. as part of the Company’s new direction announced earlier this week.
The Company has discussed and plans to proceed with the acquisition of the three companies in a dual phase transaction using a mixture of cash and shares of ETST’s common stock. By structuring the acquisitions in two separate phases the Company will allow the target companies the time necessary to integrate their operations effectively with the Company and one another. In addition the Company believes that scheduling the acquisitions over a slightly longer period of time will allow the Company to sustain share integrity, thereby maximizing shareholder value.
Phase I includes RxCS and PC, positioning the Company with operations in the pharmaceutical compounding industry, telemedicine industry, and erectile dysfunction industry, these industries have a collective forecasted valuation of over $73,000,000,000 and an average CAGR of 11.5% by 2028. Phase I is anticipated to commence within the month of October, 2021.
Phase II’s acquisition of JCR will position the Company with operations in both the durable medical equipment industry and long term care industry, these industries have a collective forecasted valuation of over $1,000,000,0000 and an average CAGR of 6.4% by 2028. Phase II is anticipated to commence within the year 2022.
Once acquired, each company will become a wholly owned subsidiary of Earth Science Tech, Inc. and the Company will effect a name and stock ticker symbol change in the near future to better reflect the change in business focus and more accurately represent the collective businesses of the combined companies..
While the Company progresses with its Phase I acquisition during the month of October 2021, Hygee™, the Company’s medical device, carried under Earth Science Pharmaceutical, Inc., will be the subject of final discussions as the Company seeks to reach a mutual agreement with its former partners to license and successfully commercialize Hygee™. Commercializing Hygee™ will position the Company with operations in the Medical device industry with a forecasted valuation over $671,000,000 and a CAGR of 5.2% by 2027.
Nickolas S. Tabraue, ETST’s CEO comments, “I feel with our 6 year history working with our established network of doctors and clinics selling CBD products, as well as working with scientists and international distribution channels developing Hygee™, our acquisitions targets are synergistically well aligned with ETST to realize larger revenues collectively than any one of them would individually. As stated earlier this week, we are now able to rebuild and rebound stronger than ever and we plan to do so with the addition of these carefully selected acquisition opportunities.”
About RxCompoundStore.com, LLC.
RxCompoundStore.com, LLC, is a compounding pharmacy that has focused on men’s health, specifically medical products directed at ED such as Tadalfil, and Sildenafil Citrate (the generic names for Cialis and Viagra, respectively) and others. RxCS is currently not a “sterile compounding pharmacy” however it is in the process of securing the necessary licensing to provide sterile products for injection.
To learn more please visit: www.RxCompoundStore.com
About Peaks Curative, LLC.
Peaks Curative, LLC., is the telemedicine referral site facilitating asynchronous consultations for branded compound medications prepared at RxCS. PC is currently in its final stages on completing its website and marketing campaign to launch within November/December.
About JCR Medical Equipment, Inc.
JCR Medical Equipment, Inc., is a Durable Medical Equipment (“DME”) company, Long-term Care and Retail pharmacy that has been in operation since 1997. JCR has recently began operating at Unified Care Service and re-opened its Retail Pharmacy to cross sell DME customers / referrals their medications. JCR is in the process of growing its business into central Florida and looks to add 3 additional hubs by 2023. From there the company looks to add home health services as it is a logical complimentary business segment that not only will provide additional opportunities to cross sell customers/patients.
To learn more please visit: www.unifiedcareservices.com
About Earth Science Tech, Inc. (ETST)
Earth Science Tech, Inc. (“ETST”) has changed its immediate focus from researching and developing innovative hemp extracts and making them accessible worldwide; with plans to be a supplier of high quality hemp oil enriched with high-grade CBD. Its primary goal had been to advance different high quality hemp extracts with a broad profile of cannabinoids and additional natural molecules found in industrial hemp and to identify their distinct properties. Initially our missions were to educate the public on the many and varied nutritional and health benefits of CBD-rich hemp oil, to optimize purity in formulation, and to find new product delivery systems. With the decline in CBD sales due to the number of factors described in the Registrant’s periodic report filed with the SEC on Form 10-K for the period ending March 31, 2021, we determined that the most efficient means to increase shareholder value would be the acquisition of a complimentary business that would bring revenues sufficient to support its own operations but that would allow the business to expand and for the Company to rebuild its CBD business.
To learn more, please visit: www.EarthScienceTech.com
SAFE HARBOR 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.
Nickolas S. Tabraue
CEO, President, & Director