Earth Science Tech, Inc., Reports Fiscal Q2 2023 Financial Results, Recording Over $1.9M in Revenue for the Quarter

“Strategy is important. EXECUTION is everything.”

Miami, FL, Nov. 13, 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 financial results, highlights, and outlook from record fiscal Q2 2023 report, quarter ended September 30, 2023.

Financial Results:

As of September 30, 2023, the Company recorded:

• $187,694 in cash, versus $1,205 in the quarter ended September 30, 2022, and a $151,893 increase compared to the year ended March 31, 2023.
  
  
• $3,041,344 in assets, versus $355,762 in the quarter ended September 30, 2022, and a 13% increase compared to the year ended March 31, 2023.
  
  
• $1,927,720 in revenue, versus $0 in the quarter ended September 30, 2022, and a $1,879,183 increase compared to the year ended March 31, 2023.
  
  
• $1,181,494 in gross profit, versus a $0 in the quarter ended September 30, 2022, and a $1,159,434 increase compared to the year ended March 31, 2023.
  
  
• $444,581 in net profit, versus a $73,678 loss in the quarter ended September 30, 2022, and a $823,847 increase compared to the year ended March 31, 2023.
  
  
• $1,107,704 in liabilities, a 54% decrease compared to the quarter ended September 30, 2022, and a 31% decrease compared to the year ended March 31, 2023.
  
  
• $3,041,344 in Stockholders Equity, versus 355,762 in the quarter ended September 30, 2022, and a 13% increase compared to the year ended March 31, 2023.
  

Highlights:

• RxCompoundStore.com is currently licensed in 18 States while 9 additional States have been applied to.
  
  
• Peaks Curative has officially launched and is currently operating PeakNow.com, MySexGummy.com and ViagraMia.com to target Men’s sexual health.
  
  
• Peaks Curative is currently developing various properties including MyOnlineConsultation.com, WLSolution.com, ClearupSkincare.com, ScreamCream.net, iHairSolution.com, as well as other online properties, in order to diversify the Peaks portfolio and increase sales.
  
  
• The Company has expanded its Board of Directors to 5 members, including 2 independent directors.
  
  
• The Company is currently evaluating its options including but not limited to acquisitions, dividends and/or buyback of its common stock as proper deployment of its free cash flow.
  

ETST’s CEO and Chairman of the Board, Giorgio R. Saumat comments, “We continue to execute. The company has decreased its debt significantly and we anticipate a further decrease in the current quarter. We have increased asset values, and more importantly increased revenue and positive cash flows.