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Organization and Nature of Operations
9 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Nature of Operations

Note 1 — Organization and Nature of Operations

 

Earth Science Tech, Inc. (“ETST” or the “Company”) was incorporated under the laws of the State of Nevada on April 23, 2010. The Company subsequently changed its domicile to the State of Florida on June 27, 2022. As of October 1, 2024, The Company operates as a strategic holding company, focused on value creation through the acquisition, operational optimization, and management of its operating businesses. The company executes this strategy via its wholly-owned subsidiaries: RxCompoundStore.com, LLC. (RxCompound”), MisterMeds, LLC. (“MisterMeds”), Peaks Curative, LLC. (“Peaks”), Avenvi, LLC. (“Avenvi”), and Earth Science Foundation, Inc. (“EST”).

 

RxCompound, based in Miami, Florida, is a fully licensed compounding pharmacy, currently authorized to fulfill prescriptions in Delaware, Florida, Pennsylvania, New York, Arizona, New Jersey, Wisconsin, Minnesota, Rhode Island, Utah, Georgia, Nevada, Massachusetts, Missouri, Iowa, Maryland, Ohio, Colorado, North Carolina, Maine, Indiana, Illinois, and Puerto Rico. The company compounds both sterile and non-sterile medications. The company is actively pursuing licensure in the remaining states where it is not yet approved to ship prescriptions.

 

Mister Meds, acquired on October 1, 2024 from a related party, and located in Abilene, Texas, is in the process of obtaining full licensure as a compounding pharmacy. The company is projected to begin operations in the first quarter of 2025. The pharmacy will feature a state-of-the-art sterile room, equipped with both positive and negative pressure capabilities, as well as hazardous compounding facilities. It will operate from a 5,000 sq. ft. facility owned by Avenvi LLC, a related party. Additionally, Mister Meds plans to apply for state licenses in markets where RxCompoundStore.com is not yet licensed.

 

Peaks is a telemedicine referral platform that facilitates asynchronous consultations for Peaks-branded compounded medications prepared at RxCompoundStore.Com and Mister Meds. The platform is currently operational in states where RxCompoundStore.com and Mister Meds are licensed. Through the development of its own network of healthcare providers via MyOnlineConsultation.com, as well as the continued expansion of state licensure for RxCompoundStore.com and Mister Meds, Peaks plans to extend its services to all 50 states. The company also recently expanded into the Animal market with the acquisition of Zoolzy.Com.

 

Avenvi acquired from a related party, a diversified company with expertise across various segments of the real estate industry. The company has developed a robust portfolio of real estate assets, primed for development, and provides financing solutions to purchasers of properties developed by Avenvi. This strategic positioning allows Avenvi to engage in the real estate market at every stage, from identifying development opportunities to facilitating end-user property acquisitions. In addition, Avenvi manages investments for ETST and oversees the ongoing $5 million share repurchase program.

 

 

EST. is a 501(c)(3) non-profit organization and a favored entity of ETST. Incorporated on February 11, 2019, the Foundation is established to receive grants and donations to support individuals in need of financial assistance for prescription costs at both RxCompoundStore.com and Mister Meds.

 

These financial statements should be read in conjunction with audited consolidated financial statements and notes.