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Earth Science Tech, Inc. (OTC:ETST), a Florida-based pharmaceutical company valued at $40.8 million, has completed the acquisition of several healthcare-related assets, according to a recent SEC filing. The company has demonstrated remarkable growth, with InvestingPro data showing a 409% revenue increase over the last twelve months. On Monday, the company announced the acquisition of Las Villas Health Care, Inc. and Doconsultations.com, LLC, enhancing its presence in the healthcare and telemedicine sectors.
The acquisition, finalized on April 1, 2025, for a purchase price of $200,000, includes a wellness clinic in Coral Gables, Florida, and an online telemedicine platform. Additionally, Earth Science Tech acquired eighty percent of Magnefuse, LLC and Alicat, LLC for $240,500, with an option to purchase the remaining twenty percent within two years based on a revenue multiplier. According to InvestingPro analysis, the company maintains an excellent financial health score and operates with a moderate level of debt, suggesting strong potential for these strategic investments.
In a separate but related development, Earth Science Tech disclosed the resignation of its former auditor, Assurance Dimensions Certified Public Accountants & Associates, effective April 1, 2025, due to its exit from auditing publicly traded companies. The company’s financial statements for the fiscal years ending March 31, 2024, and March 31, 2023, had no adverse opinions. No disagreements or reportable events were noted between the company and the former auditor.
Subsequently, on April 4, 2025, Earth Science Tech appointed Stephano Slack LLC as its new independent registered public accounting firm for the fiscal year ending March 31, 2025. Prior to this engagement, the company had not consulted with Stephano Slack LLC on any accounting principles or auditing matters.
The company’s strategic acquisitions are expected to diversify its service offerings and strengthen its market position in the healthcare and telemedicine space. With a P/E ratio of 15.75 and a strong 140.7% return over the past year, Earth Science Tech shows promising market performance. The information for this article is based on the latest 8-K filings by Earth Science Tech, Inc. with the Securities and Exchange Commission. For deeper insights and additional financial metrics, including 8 more exclusive ProTips, visit InvestingPro.
In other recent news, Earth Science Tech, Inc. has announced revisions to its acquisition agreement with Las Villas Healthcare, LLC and Doconsultations.com, LLC. The company has reduced the total purchase price from $400,000 to $200,000, following an initial payment of $50,000. The remaining $150,000 is set to be paid upon the transaction’s closing, which is anticipated after a ninety-day due diligence period. This change in the acquisition terms could have implications for Earth Science Tech’s strategic expansion in the healthcare sector. Additionally, Earth Science Tech has confirmed the continuation of employment agreements for Chief Financial Officer Ernesto L. Flores and Chief Technology Officer Christopher Rose. Both executives will maintain their current salaries, with Flores earning an annual base salary of $160,000 and Rose receiving $270,000. They are also eligible for performance-based bonuses, determined at the CEO’s discretion. These developments provide insight into the company’s ongoing operational strategies and executive management decisions.
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