In recent transactions, Giorgio R. Saumat, CEO of Earth Science Tech, Inc. (OTC:ETST), a company that has delivered an impressive 115% return year-to-date and maintains an EXCELLENT financial health rating according to InvestingPro, acquired a total of 104,999 shares of the company's common stock. The purchases, made on November 27, 2024, were executed at prices ranging from $0.13 to $0.148 per share, amounting to a total investment of $15,449. Following these transactions, Saumat holds 121,892,627 shares of Earth Science Tech, demonstrating strong insider confidence in the $45.4 million market cap company that has achieved remarkable revenue growth of over 1,100% in the last twelve months. All acquisitions were conducted on the open market. According to InvestingPro analysis, the stock currently appears undervalued based on its Fair Value assessment.
In other recent news, Earth Science Tech, Inc. has expanded its portfolio with the acquisitions of Avenvi, LLC, a real estate holding entity, and Mister Meds, LLC, a Texas-based firm. The Florida-based biotech company has also launched a new brand, Zoolzy, venturing into the pet and wildlife industry. These developments were detailed in a recent 8-K filing with the SEC.
The company completed the purchase of Avenvi for a total of $1,058,788.30, which includes approximately four acres of undeveloped land, a commercial property, and Avenvi's cash holdings. The acquisition of Mister Meds was settled for $54,200 in cash. Both transactions were approved by the company's Board of Directors.
On top of these acquisitions, Earth Science Tech introduced Zoolzy, a brand under Peaks Curative, LLC. The new brand offers specialized compounded medications for pets and wildlife. The company also relocated its principal office to a new space in Miami, FL, adding approximately 1,125 square feet to their existing administrative space.
In addition, Earth Science Tech repurchased 11,545,898 shares of its common stock as part of a $5 million repurchase program. The company also disclosed new compensatory arrangements for its top executives, with the CEO and COO set to receive eighteen percent and twelve percent of the company's monthly cash receipts, respectively, starting from October 1, 2024. These are the recent developments within the company.
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