secwatch.observer — SEC 8-K summary
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Issuer:     Earth Science Tech, Inc. (ETST)
CIK:        0001538495
Form:       8-K
Filed at:   2024-12-12T23:59:59+00:00
Accession:  0001493152-24-049823
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Earth Science Tech acquires Avenvi LLC for ~$1.06M in related-party transaction
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- Acquisition price of $1,058,788; $258,788 initial payment plus $200,000/month for four months.
- Avenvi's audited Sept 30, 2024 balance sheet: total assets $1,056,140 ($282k cash, $184k equity securities, $590k property/equipment).
- Avenvi had zero revenue and net income of $399,791 for Jan-Sep 2024, primarily from investment gains.
- Seller is Giorgio R. Saumat, also CEO/Chairman of Earth Science Tech; board approved as arm's-length.
- Acquired assets include ~4 acres vacant residential land, one commercial property (5,000 sq ft), and cash equivalents.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1538495/000149315224049823/0001493152-24-049823-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1538495/000149315224049823/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-049823

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