In a recent transaction, Yovan Arturo Sanchez, a director at Earth Science Tech, Inc. (OTCMKTS:ETST), has acquired additional shares in the company. The transaction, which took place on September 16, involved the purchase of 100,000 shares at a price of $0.156 each, amounting to a total investment of $15,600.
This purchase by Sanchez reflects a notable investment in the company's common stock, and with this acquisition, he now holds a total of 1,100,000 shares. The transaction was executed on the open market, as confirmed by the remarks in the filing.
Earth Science Tech, Inc., operating under the industrial classification of pharmaceutical preparations, is known for its contributions to the life sciences sector. The company, incorporated in Nevada, has its business headquarters in Miami, Florida.
Shareholders and potential investors often monitor such transactions closely as they can indicate an executive's confidence in the company's prospects. However, it's important to note that these transactions do not necessarily predict future stock performance.
The purchase by Sanchez represents a significant addition to his holdings in Earth Science Tech, and investors will be watching closely to see how this vote of confidence translates into the company's performance in the market.
In other recent news, Earth Science Tech, Inc., disclosed new compensation agreements for its top executives in a recent 8-K filing with the SEC. The company's Board of Directors approved a unique twelve-month Employment Agreement for CEO Giorgio R. Saumat and COO Mario G. Tabraue, starting from October 1, 2024. According to the agreement, the CEO will receive eighteen percent, and the COO will receive twelve percent of the company's monthly cash receipts, contingent upon the company's net profit growing quarter over quarter.
In case Earth Science Tech fails to meet this profit increase, the executive compensation agreement will be up for renegotiation, with no payments initiated at the start of the new quarter. The filing also reveals a notable change for COO Mario G. Tabraue. He has agreed to resign from all his current positions within the company's wholly owned subsidiaries and their corresponding remunerations, focusing solely on his responsibilities as COO under the new agreement. These are recent developments in the company.
InvestingPro Insights
Following the recent acquisition of shares by director Yovan Arturo Sanchez, Earth Science Tech, Inc. (ETST) has shown some interesting financial metrics that investors might want to consider. With a market capitalization of $48.7 million, the company operates with a moderate level of debt and has been profitable over the last twelve months. One of the standout figures is the company's revenue growth, which surged by a staggering 7462.31% over the last twelve months as of Q1 2023. This impressive growth is further highlighted by the gross profit margin of 69.4%, suggesting that the company is not only increasing its sales but doing so with a strong return on its cost of goods sold.
InvestingPro Tips for ETST indicate that the stock has experienced high price volatility, which is consistent with the 135.44% return over the past year and a large price uptick over the last six months of 113.47%. While the stock has fared poorly over the last month with a price total return of -27.23%, it's important for investors to consider the broader picture, including the company's ability to cover its interest payments with cash flows and its strong return on assets of 51.14%.
For investors seeking more in-depth analysis, there are additional InvestingPro Tips available for ETST at https://www.investing.com/pro/ETST, providing a comprehensive understanding of the company's financial health and stock performance.
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