Earth Science Tech (OTCMKTS: ETST) Acquires Avenvi, LLC – A Look at the Recent Purchase

Earth Science Tech, Inc. recently completed the acquisition of Avenvi, LLC., a Florida limited liability company, according to an 8-K filing dated December 12, 2024. The acquisition, which took place on October 1, 2024, was executed as an asset acquisition for a total of $1,058,788. The initial payment was $258,788, with subsequent monthly payments of $200,000 for the following four months. Avenvi, LLC.’s assets include approximately four acres of vacant residential real estate designated for development, a commercial property spanning nearly half an acre featuring a standalone building of five thousand square feet, and cash or cash equivalents.

The agreement was formalized through a Purchase and Sale Agreement, where Earth Science Tech, Inc. agreed to acquire Avenvi, LLC. The detailed terms of this agreement, including financial disclosures and additional specifics, were outlined in the Purchase and Sale Agreement, which was inked on October 1, 2024.

The financial statements of Avenvi, LLC., specifically the audited consolidated balance sheets for the period ending September 30, 2024, were included in the SEC filing to provide stakeholders with a comprehensive view of the financial health and standing of the acquired entity. Additionally, Earth Science Tech disclosed that Giorgio R. Saumat, the owner of Avenvi, LLC. as of September 30th, 2024, is also Earth Science Tech’s Chief Executive Officer and Chairman of the Board, thus establishing a related party transaction.

The audited financial statements and related information regarding the acquisition are vital for investors and market analysts to evaluate the impact of this transaction on Earth Science Tech’s financial position and its strategic growth trajectory. This move signifies Earth Science Tech’s strategic efforts to expand its real estate holdings and diversify its assets, tapping into the potential growth opportunities within the real estate industry.

It is worth noting that all the statements and representations made in the acquisition process are subject to the specific terms of the Purchase and Sale Agreement and should be evaluated in conjunction with the periodic and current reports that Earth Science Tech files with the SEC for accurate and detailed information on the company’s operations and financial performance.

This acquisition marks a significant milestone for Earth Science Tech, demonstrating its commitment to strategic expansion and diversification, potentially presenting new opportunities for growth and innovation in the real estate sector going forward.

Please refer to the official SEC filing for detailed financial statements and related information about the acquisition.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Earth Science Tech’s 8K filing here.

Earth Science Tech Company Profile

Earth Science Tech, Inc focuses on health and wellness industry. It operates men's health telemedicine platform under brand Peak name; and operates pharmacy. The company offers supplements and topicals products. The company was formerly known as Ultimate Novelty Sports, Inc and changed its name to Earth Science Tech, Inc in March 2014.