Earth Science Tech, Inc Shares a Letter from the CEO on Recently Filed March 31, 2023, YE Report

“You don’t have to be great to start, but you do have to start to be great!”

Miami, FL, June 21, 2023 (GLOBE NEWSWIRE) -- Earth Science Tech, Inc. (OTC: ETST) (“ETST” or “Company”), a holding entity currently focused on the health and wellness industry, today shares a letter from the Company’s CEO, Giorgio R. Saumat on the company’s recently filed March 31, 2023, YE Report.

Dear Shareholders and Investors,

On June 20, 2023, the Company filed its 10-K reporting its financial results for the year ended March 31, 2023.

2022 Fiscal Year Highlights:

	●	During fiscal year 2022, the company retired approximately $1.5M, or 81% of the liabilities from the beginning of the fiscal year.
	●	We consummated mergers with both our merger candidates, RxCompoundStore, LLC (“RxCompound”) and Peaks Curative, LLC (“Peaks”), making each entity a wholly owned subsidiary of the Company.
	●	RxCompound’s hazardous compounding room commenced operations in the month of December 2022, improving sales by increasing product offerings to include hormonal creams.
	●	RxCompound applied for and was granted dispensing licenses in 7 states, in addition to New York and its home state of Florida. RxCompound obtained pharmacy licenses in Colorado, New Jersey, Rhode Island, Arizona, Nevada, Delaware and Pennsylvania and can now fulfill prescriptions in each of those states.
	●	The Company elected its first Independent Director of the Board, Jeff P.H. Cazeau.

Subsequent Highlights:

	●	Peaks acquired the domain name PeakNow.Com and continues to grow its sales and increase offerings in the men’s sexual health segment.
	●	RxCompound has applied for pharmacy licenses and is pending approval of licenses in the following states: Illinois, Utah and Georgia.
	●	RxCompound received approval for its sterile compounding lab and began operations, including sales of sterile injectable prescriptions in May 2023.
	●	RxCompound, created clearupskincare.com to develop and offer medical grade skincare products.
	●	The Company created DocProtocol.com (“DocProtocol”) to offer patient specific protocols to doctors and wellness centers for their patients. The protocols are developed by highly respected functional medicine professionals, and we expect the majority of the prescriptions generated by DocProtocol to be fulfilled by RxCompound. Upon completion of the DocProtocol suite, the company intends to incorporate DocProtocol as a standalone, wholly owned subsidiary.
	●	RxCompound created viagramia.com and mysexgummy.com to diversify our men’s health sales channels by offering rapid online telehealth consultations and fulfillment of ED prescriptions.
	●	The company restructured a third-party convertible note into a manageable payment plan, reducing the amount owed and providing incentives for the company to prepay or accelerate payments. Consistent with our management team’s priorities, we expect to take advantage of these incentives.
	●	The company’s largest/controlling shareholder has converted a total of $385,000 in promissory notes into equity, thereby improving the balance sheet further. After these conversions, the company no longer has any convertible notes outstanding.

While the 10-K reflects incredible improvement during the last Fiscal Year, it was only the first couple of steps of a much longer journey; however, those first couple of steps have already moved the company forward significantly. As I look forward to the end of the current first quarter on June 30th, based on the sales of the subsidiaries and their respective properties, I anticipate a significant growth in revenue and free cash flow.