Earth Science Tech Inc. (OTCMKTS:ETST) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement
After lengthy discussions with its principal, Robert Stevens, and after having had an opportunity to research the history of some of the companies for which he and his firm were judicially appointed as receiver, Earth Science’s management is optimistic about having Strongbow Advisors serve as its Receiver. As stated, unlike many receivers who take a liquidation approach to their judicial roles, Stevens has a pragmatic philosophy of helping companies to restructure and use, what is generally considered, a negative situation as an opportunity for them to become better, stronger, more vibrant, operating companies. Stevens has a firm commitment to protecting creditors and shareholders alike; however, it’s his attention to an enterprise as a whole and in particular on the business’ shareholders that truly differentiates Strongbow Advisors and him from other receivers.
In his role as receiver, Stevens has reorganized companies that emerge from receivership having fully settled all of their liabilities and recovered significant value for their shareholders, to continue as stronger successful companies. As an example, in one case we reviewed, while in receivership the company was not only able to raise capital and pay its creditors in full, it was also able to recover all of the value for the investing shareholders dating back to its IPO in 2008; and in that case, those IPO investors had not only not lost money, but were able to realize substantial returns on their investments as shareholders.
In short, Stevens has a breadth of experience as a receiver helping companies and their creditors, shareholders and other constituents who have effectively “found themselves with lemons,” to “make high quality lemonade.” As such Earth Science is optimistic that it will be another one of Strongbow’s success stories.
Item 9.01 Financial Statements and Exhibits.
Earth Science Tech, Inc. Exhibit
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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.