EARTH SCIENCE TECH, INC. (OTCMKTS:ETST) Files An 8-K Completion of Acquisition or Disposition of AssetsItem 2.01. Completion of Acquisition or Disposition of Assets.
Effective August 22, 2016, the Registrant entered into an asset purchse agreement to acquire substantially all of BEO ITS, Inc., a Canadian corporation (“Target”), for 225,000 common shares of the Registrant plus $9,225.00 in cash payable within 60 days of the closing.
The transfer of the assets was affected by bills of sale, assignments and assumptions of contracts, and assignments of intangible property assets, which were executed in conjunction with the asset purchase agreement.
In addition to the transfer of the assets, the Registrant engaged a principal of the Target, Dr. Michael Aube, to a five (5) year employment agreement at a base salary of Eight Nine Thousand Canadian Dollars ($89,000.00 CAD).
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
|
Exhibit No. |
Description of Document |
|
1. |
Asset Purchase Agreement between the Registrant and Beo Its, Inc. dated August 22, 2016 |
Earth Science Tech, Inc. ExhibitEX-99.1 2 fp0028764_ex991.htm ASSET PURCHASE AGREEMENT This Asset Purchase Agreement dated this 22 day of August,…To view the full exhibit click here
About EARTH SCIENCE TECH, INC. (OTCMKTS:ETST)
Earth Science Tech, Inc. is a biotechnology company. The Company is focused on nutraceuticals and bioceuticals for use in various industries, such as health, wellness, nutritional supplements, cosmetic and alternative medicine to manage illnesses and the quality of life for consumers around the world. The Company sells its products through its retail store located in Coral Gables, Florida, and through the Internet. The Company is focused on delivering nutritional and dietary supplements that help with treating symptoms, such as chronic pain, joint pain, inflammation, seizures, high blood pressure, memory loss, depression, weight management, nausea and aging. This may include products, such as vitamins, minerals, herbs, botanicals, personal care products, homeopathies, functional foods and other products. These products will be in various formulations and delivery forms, including capsules, tablets, soft gels, chewables, liquids, creams, sprays, powders and whole herbs.