other material
confidence high
sentiment negative
materiality 0.50
Earth Science Tech amends 8-K to disclose audited financials of acquired entities with going concern issues
Earth Science Tech, Inc.
- Peaks Curative LLC had $1,134 revenue, net loss of $11,866 for FY ended Sep 30, 2022; cash $545.
- RxCompoundStore.com LLC had $533,507 revenue, net loss of $72,267 for 2 years ended Mar 31, 2022; members' deficit $25,013.
- Both acquired entities have going concern qualifications from auditor Bolko & Company.
- Acquisition closed Nov 8, 2022 for 53.7M restricted shares of ETST; Peaks and RxCompound now wholly owned.
- Amendment corrects prior filing and includes revised audit letter for RxCompoundStore.com.