Earth Science Tech, Inc. (ticker: UNOV), a holding company focused on the health and wellness industry, recently acquired telemedicine subsidiary Peaks Curative, LLC. According to their recent SEC report, the company has seen a significant increase in cash and cash equivalents, from $26,942 at the beginning of the period to $35,756 at the end of the period.
Table of Contents
The company operates through several subsidiaries
, including RxCompoundStore.com, LLC., Peaks Curative, LLC., and Earth Science Foundation, Inc. RxCompound is a compounding pharmacy licensed to dispense prescriptions in multiple states, focusing on men’s health, ED treatments, and longevity products. Peaks Curative serves as the telemedicine referral site for RxCompound and is currently positioned to prescribe to all 50 states. Earth Science Foundation is a non-profit organization set up to accept grants and donations to help those in need of financial assistance for their prescriptions.
With the acquisition of Peaks Curative,
Earth Science Tech is expanding its presence in the telemedicine industry. Peaks Curative provides online doctor consultations for branded compound medications prepared at RxCompound. This integration offers a convenient solution for patients who require prescriptions and consultations but cannot access a physical location, enabling the company to serve a broader customer base.
The recent SEC report also highlights the company’s plans
to execute a marketing campaign for RxCompound and Peaks Curative to boost brand exposure and sales. Their strategy includes offering over-the-counter (OTC) products such as supplements and topicals, which are set to be manufactured or fulfilled through partnered companies under the Peaks brand worldwide.
The company’s financial health has also improved recently,
with a notable increase in cash and cash equivalents in 2023. This follows a previous cash increase from $10,781 to $26,942 in the earlier reporting period. In the years ended March 31, 2023, and March 31, 2022, the company’s cash paid for interest also rose from $3,082 to $8,016.
Revenue for Earth Science Tech also witnessed growth,
with core revenue totaling $44,099 in 2023, up from $14,123 in 2022. Non-core revenue for services provided by Peaks Curative amounted to $4,438 in the same period. The company’s reported net revenue for years ended March 31, 2023, and March 31, 2022, was $48,537 and $14,123, respectively, showcasing the impact of their strategic shift and acquisitions on the company’s financial performance.
Earth Science Tech’s foray into telemedicine
underscores the growing importance of remote healthcare and services amidst shifting consumer needs. The company’s acquisition of Peaks Curative signifies their commitment to adapt and grow within the health and wellness industry. With the integration of telemedicine services and a robust marketing campaign on the horizon, Earth Science Tech is poised for continued growth and success in the years to come.
Note that we may hold securities mentioned in this article. All data is based on recent SEC filings. Even though we have implemented various manual and automatic fact-checking and data acquisition processes, some incorrect information may have slipped through (false positive). Let us know if you find any inconsistencies!