DORAL, Florida, Sept. 27, 2018 (GLOBE NEWSWIRE) -- Earth Science Tech, Inc. (OTCQB: ETST) (“ETST" or the “Company"), an innovative biotech company focused on the cannabidiol (CBD), nutraceutical and pharmaceutical fields, medical devices, and research and development, has received updated coverage from SeeThruEquity, which recognizes the Company’s sales growth, recent activity, and market potential. SeeThruEquity also set a price target of $3.60 on shares of ETST.
“We are excited to be covered by a well-respected Wall Street equity firm and are pleased it has taken notice of our recent financial results, recent accomplishments, and positive outlook. This coverage by SeeThruEquity validates the passion and expectations that we at ETST have for the Earth Science brand and our mission to become a leading biotech player,” stated Nickolas S. Tabraue, president, director and chairman of ETST.
View the full SeeThruEquity report here: view report
Report Highlights:
• 1Q19 revenues grow by 64.8% to $166,891
ETST reported sharp growth in its FY1Q19 (ended June 20, 2018), with revenues increasing to $166,891 versus $101,275 in the year-ago period. Revenue growth is attributed to execution in the company's line of CBD nutraceuticals and supplements, which provide a revenue stream for ETST as it seeks to develop its medical device and pharmaceutical business lines.
• Positive outlook
Revenues are expected to increase throughout the fiscal year as the company meets demand from expanded retail distribution of its products, supported by pre-sales and a recent replenishment of product which should enable conversion to revenue.
• Deal with As Seen On TV likely to raise awareness
On the direct to consumer front, the company has engaged As Seen On TV to develop a direct response TV and web campaign over the next twelve months, which should provide further demand and an increase in awareness for high-grade CBD oil.
• ETST becomes full reporting OTCQB company
We were pleased to see ETST catch up on its SEC filings with the reporting of its annual financials and FY1Q19 quarterly report. The company announced that its shares were uplisted to be quoted on the OTCQB, which is expected to offer higher liquidity and visibility than OTC.
• Target moves to $3.60 as growth prospects take shape
Our target moves to $3.60 for ETST following recent results and a positive outlook for growth to take shape in coming period driven by expanded CBD sales and the introduction of the company's medical device MSN-2. We see ETST as a speculative company in the fast-growing CBD space.
SeeThruEquity is an approved equity research contributor on Thomson First Call, Capital IQ, FactSet, and Zack's. The report will be available on these platforms.
About Earth Science Tech, Inc. (ETST)
Earth Science Tech, Inc. (“ETST”) offers the highest purity and quality high-grade full spectrum cannabinoid oil on the market. There are positive results in studies on breast cancer and immune cells through the University of Central Oklahoma, in addition to studies through DV Biologics that prove the Company’s CBD oil formulation lowers cortisol and functions as a neuro-protectant, with positive result case studies through key health organizations. ETST formulates, markets and distributes the CBD oil used for its studies to the public, offering the most effective quality of CBD on the market.
To learn more, please visit: www.EarthScienceTech.com
ETST currently has four wholly owned subsidiaries focused on developing its role as a world leader in the CBD space and expanding its work in the pharmaceutical and medical device sectors:
Earth Science Pharmaceutical, Inc.
Earth Science Pharmaceutical ("ESP") is a wholly owned subsidiary of Earth Science Tech), committed to the development of low cost, noninvasive diagnostic tools, medical devices, testing processes and vaccines for sexually transmitted infections and/or diseases. ESP's CEO and chief science officer, Dr. Michel Aubé, is leading the company’s research and development efforts. The company’s first medical device, MSN-2, is a home kit designed for the detection of STIs, such as chlamydia, from a self-obtained gynecological specimen. ESP is working to develop and bring to market medical devices and vaccines that meet the specific needs of women. To learn more please visit: www.EarthSciencePharmaceutical.com
Cannabis Therapeutics, Inc.
Cannabis Therapeutics (“CTI”) is a wholly owned subsidiary of Earth Science TechTich i poised to take a leadership role in the development of new, leading-edge cannabinoid-based pharmaceutical and nutraceutical products. CTI is invested in research and development to explore and harness the medicinal power of cannabidiol. The company holds three provisional application patents for a CBD product that is focused on developing treatments for breast and ovarian cancers, as well as two generic CBD based pharmaceutical drugs. To learn more please visit: www.CannabisThera.com
KannaBidioiD, Inc.
KannaBidioiD (“KBD”) is a wholly owned subsidiary of Earth Science TechB that provides a wide variety of products geared toward the recreational space of cannabis. KBD’s unique Kanna and CBD formulation is sold and distributed in CBD-infused vapes/e-liquids products. Kanna and CBD synergistically enhance one another, providing optimal relaxation, an uplifting sensation, enhanced focus and the added benefit of assisting with nicotine reduction therapy. To learn more please visit: www.KannaBidioiDInc.com
Earth Science Foundation, Inc.
Earth Science Foundation. (“ESF”) is a wholly owned subsidiary of Earth Science Tech. ESF is in the process of becoming a nonprofit organization to accept grants and donations to conduct further studies and help donate Earth Science Tech's effective CBD products to those in need. To learn more please visit: www.ETSTFoundtion.org
SAFE HARBOR ACT: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.