Earth Science Tech, Inc., Shares an Annual Letter from the CEO for the Company’s Fiscal March 31, 2024, Year End - Seite 2

The company has expanded its executive/administrative space on the 22nd floor of the Town One Center property, where RxCompoundStore.com is located on the ground floor, to include roughly an additional 2,500 square feet and access to conference/meeting rooms. ETST has also expanded its off-site storage space by roughly 1,500 square feet. Increasing the ETST footprint from roughly 2,000 square feet a year ago to roughly 6,000 square feet today, a 200% Increase. 

Peaks Curative currently has 5 prescribers (licensed in most states as RxCompoundStore.com) on its platform and is expected to add more as sales volumes increase with its marketing efforts. 

RxCompoundStore.com was successful in having a lawsuit, brought by a major drug manufacturer in September 2023, dismissed with prejudice (a complete win). 

All of these accomplishments (I'm confident I'm missing a few) show the management team’s commitment to growing the company and performing at a high level for our shareholders. 

With respect to the buyback program announced on January 29th, 2024, it is important to note that the buyback authorized by the Board of Directors is effective through December 31st, 2025. It is designed for the company to use free cash flows towards the repurchase of stock over time. We have taken the approach of purchasing through private transactions first, as it provides the company the ability to negotiate and acquire shares at a lower price than available on the market (as evidenced through our completed purchases) due to the logistics of registering private shares. This approach mitigates the amount of shares that could come to market while allowing the company to repurchase at a discount. Once we have exhausted private transactions, we will turn our focus to purchasing on the open market. 

Lastly (and most importantly), I'm thrilled to pre-announce that the company had at least 5.7M in revenue in the fiscal 4th quarter alone, representing a 54% revenue increase quarter over quarter and a cash balance of roughly 700K, a 250% increase quarter over quarter. These figures are inclusive of paying down most, if not all, long-term liabilities AND repurchasing stock from the company's outstanding share count at the end of the 3rd Quarter. ETST is growing.