secwatch.observer — SEC 8-K summary
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Issuer:     Earth Science Tech, Inc. (ETST)
CIK:        0001538495
Form:       8-K
Filed at:   2022-10-28T23:59:59+00:00
Accession:  0001493152-22-029793
Event type: debt
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 5.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Earth Science Tech settles $808k debt by issuing 81.6M shares; control changes to Saumat
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- Settled $625,624 debt with Giorgio Saumat by issuing 62.6M common shares and 1M Series B preferred shares, giving Saumat controlling vote.
- Settled $155,791 debt to Dr. Issa El-Cheikh with 16.3M common shares.
- Settled $27,500 convertible note to Mario Portela with 2.75M common shares.
- CEO Nickolas Tabraue and President Mario Tabraue defer salary until company is cashflow positive for three consecutive bi-week periods.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1538495/000149315222029793/0001493152-22-029793-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1538495/000149315222029793/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-029793

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer