Business
Earth Science Tech, Inc.-sponsored Foundation achieves Non-Profit Status to advance research on cannabinoids.
Earth Science Tech, Inc.-sponsored Foundation achieves Non-Profit Status to advance research on cannabinoids..
About this update from Earth Science Tech, Inc.
[{"type":"text","content":"\nDORAL, Florida, Feb. 21, 2019 (GLOBE NEWSWIRE) -- Earth Science Tech, Inc. (OTCQB: ETST) (“ETST\" or the “Company\"), an innovative biotech company focused on the cannabidiol (CBD), nutraceutical and pharmaceutical fields, medical devices, and research and development, is pleased to share that Earth Science Foundation, Inc. (“Foundation”), the creation of which it has supported, is now a 501(c)(3) organization. Obtaining non-profit status enables the Foundation to accept tax-free contributions that will fund further studies of cannabidiol (“CBD”) products with a primary object of helping those who suffer from cancer, epilepsy, depression, autism, chronic pain, dementia, drug/alcohol addiction, and AIDS.\n As of February 11, 2019, the Foundation is officially exempt from federal income tax under Internal Revenue Code (IRC) Section 501(c)(3) and is qualified to receive tax deductible bequests, devises, transfers or gifts under Section 2055, 2106, or 2522. Donors can deduct contributions they make to the Foundation under IRC Section 170.  In March 2018, ETST President and Director Nickolas S. Tabraue became the Foundation’s first contributor by donating 50,000 of his shares of ETST common stock. This and other contributions will enable the Foundation to donate High Grade Full Spectrum Cannabinoids to patients in need and fund charitable events as well as a contribution campaign to raise awareness of  the Foundation’s mission. Contributions will also be used to further the development of a CBD-based formula for opioid addiction and to advance ongoing research, including CBD IP formula experiments. “The Earth Science Foundation is focused on supplying CBD oil to individuals suffering from cancer, epilepsy, depression, autism, chronic pain, dementia, substance abuse, AIDS, and other ailments,” states Tabraue. “This echoes the broader corporate goal to help people improve their quality of life. Achieving 501c3 status is a significant step forward and we will continue to support the Foundation in any way we can in the public interest and for the good of all.” About Earth Science Tech, Inc. (ETST) Earth Science Tech, Inc. (“ETST”) offers the highest purity and quality high-grade full spectrum cannabinoid oil on the market. There are positive r...