In a recent filing with the Securities and Exchange Commission, Earth Science Tech, Inc. (OTC:ETST) disclosed that its director, Yovan Arturo Sanchez, purchased 50,000 shares of the company's common stock. The shares were acquired on October 23 at a price of $0.14 per share, amounting to a total transaction value of $7,000. This acquisition brings Sanchez's total holdings to 1,250,000 shares. All purchases were made on the open market.
In other recent news, Earth Science Tech, Inc. has announced significant developments. The biotechnology company has completed two strategic acquisitions, namely, Avenvi, LLC, a real estate holding entity, and Mister Meds, LLC, a Texas-based firm. Additionally, Earth Science Tech has ventured into the pet and wildlife industry with the launch of a new brand, Zoolzy, under Peaks Curative, LLC.
Another key development is the relocation of its principal office to a larger space in Miami, FL, and the repurchase of 11,545,898 shares of its common stock as part of a $5 million repurchase program. Furthermore, the company has disclosed new compensatory arrangements for its CEO, Giorgio R. Saumat, and COO, Mario G. Tabraue, as stated in a recent SEC filing.
These arrangements are contingent upon the company's net profit growth quarter over quarter, and COO Mario G. Tabraue will step down from all his current positions within the company's wholly-owned subsidiaries to focus solely on his responsibilities as COO. These are the recent developments within Earth Science Tech, Inc.
InvestingPro Insights
The recent insider purchase by Earth Science Tech's director Yovan Arturo Sanchez aligns with several intriguing financial metrics and trends highlighted by InvestingPro. Despite the stock's recent volatility, as indicated by an InvestingPro Tip, ETST has demonstrated remarkable growth over the past year. The company's stock price has surged by 211.11% in the last 12 months, showcasing strong momentum.
InvestingPro Data reveals that Earth Science Tech's revenue growth has been explosive, with a staggering 7462.31% increase in the last twelve months. This exceptional growth is further emphasized by the company's healthy gross profit margin of 69.4%, indicating efficient operations and strong pricing power.
Another InvestingPro Tip notes that ETST operates with a moderate level of debt, which is particularly important given the current economic climate. This financial prudence, combined with the company's profitability over the last twelve months, suggests a solid foundation for future growth.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Earth Science Tech, providing a deeper understanding of the company's financial health and market position.
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