Business
Earth Science Tech, Inc. Engages Counsel to Prepare an Offering Through a Regulation A+, Tier 2
Earth Science Tech, Inc. Engages Counsel to Prepare an Offering Through a Regulation A+, Tier 2.
About this update from Earth Science Tech, Inc.
[{"type":"text","content":"\n\n Doral, FL,, Dec. 19, 2017 (GLOBE NEWSWIRE) -- Earth Science Tech, Inc. (OTC PINK: ETST) (\"ETST\" or, the “Company\"), an innovative biotech company that operates in the fields of hemp cannabinoid (CBD), nutraceutical, pharmaceutical, medical device, research and development, engages counsel to prepare an offering for shares of its common stock to be qualified by the SEC under Tier II of Regulation A+.\n Regulation A+ was enacted as part of the Jobs Act in 2015 as a quicker path for small companies to raise capital than a traditional registration with the SEC. While, a Tier II offering under Regulation A+ is similar to a registration filed on Form S-1, the SEC review and approval process is designed to be much faster and less cumbersome for companies. The Company understands that currently average time for approval of a Regulation A+ offering is less than two-and-a-half months, as compared to traditional S-1 registrations, which commonly take in excess of 6 months to become effective. The Company’s audit is proceeding on schedule, and is planned to be finalized before the end of 2017. The timely completion of the audit not only means that the Company will be eligible for Tier II instead of Tier I of its planned Regulation A+ offering, but the Company is optimistic that its demonstrated commitment to increased transparency for investors and the public markets will help it attract larger retail and institutional investors in the near future. ETST intends to raise capital in order to finalize and commercialize its projects through Earth Science Pharmaceutical and Cannabis Therapeutics. As previously announced, the Company’s MSN-2 medical device is prepared for third-party evaluation and then to be manufactured and commercialized. The Company has projected costs for its MSN-2 medical device of approximately $500,000 for all of the aforementioned tasks to be completed. It is projected to generate over $2 million in revenue during the first year of production alone, based on sales through its current distribution channels. As we already mentioned ETST is in the process of developing a partnership agreement to reach the Vietnamese market for the MSN-2 medical device and more recently the Nanoderm™ dressing, that it believes is imminent. ETST is also in contact with potential Brazilian distributors for its M...