- The company’s priority is on research and development of innovative hemp extracts
- ETST aims to be a global supplier of hemp oil enriched with CBD
- Its product sales were up 66 percent for the year ended March 31, 2019, driven by full-spectrum cannabinoids
Earth Science Tech Inc. (OTCQB: ETST), a biotech company focused on the nutraceutical and pharmaceutical fields, reported in an SEC 10-K filing that it is prioritizing the marketing of CBD-rich hemp oil and consumer education about the oil’s health and nutritional benefits. ETST markets a complete line of high-grade hemp-CBD oils, hemp-CBD caps and CBD pet oils, with the entire line featuring full-spectrum, pure CBD oils obtained through a super-critical CO2 cold-liquid extraction method (http://cnw.fm/jXcX3).
This focused marketing strategy has paid off, as ETST reported a 66.4 percent increase in product sales for the year ended March 31, 2019. Sales totaled $770,635, as compared to $463,108 for the same period in 2018. ETST attributed the increase to its line of branded, full-spectrum cannabinoids as the company continues to expand and maintain its core customer base.
ETST’s corporate strategy is “to design and produce CBD-enhanced nutraceutical products for sale to the general public. (It) intend(s) to create high-grade, CBD-rich hemp oil and other CBD-containing products unique to the current market in the nutraceuticals industry. (The company) believe(s) that (its) formulations will set (it) apart from competing products for promoting health.”
The company’s goal is to “offer a wide selection of health and nutrition products through online, clinics, pharmacies and in-store retail,” noting that its “product selection includes many high-quality supplement brands and includes (its) proprietary CBD-rich hemp oil.”
A priority for ETST is also to advance a variety of high-quality hemp extracts with a broad profile of cannabinoids and additional natural molecules found in industrial hemp and to identify their distinct properties. In addition to its marketing efforts, ETST is a biotechnology company that conducts R&D, then formulates, markets and distributes the CBD oil used for its studies to the public.
ETST conducts research through the University of Central Oklahoma and DV Biologics LLC, an independent biologics firm that operates in the fields of hemp-derived cannabinoids, nutraceuticals, pharmaceuticals and medical devices.
Hemp-based CBD is one of at least 80 cannabinoids found in hemp and is non-psychoactive. The company is striving to scale up its processing capability to accommodate new products in its pipeline. These efforts are particularly timely, as Arcview Market Research projects that legal cannabis sales in North America will reach $20.2 billion by 2021, growing at a compound annual growth rate (CAGR) of 25 percent from 2016 (http://cnw.fm/K0Xj6).
For more information, visit the company’s website at www.EarthScienceTech.com
NOTE TO INVESTORS: The latest news and updates relating to ETST are available in the company’s newsroom at http://cnw.fm/ETST
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