BOCA RATON, FL--(Marketwired - May 21, 2015) - Earth Science Tech, Inc. (OTCQB: ETST) ("ETST" or "the Company"), a unique biotechnology company focused on nutraceuticals, bioceuticals and dietary supplements, is excited to announce that Matthew Cohen is the new CEO and CFO. Matthew Cohen has also been added as a board director to ETST. Furthermore, ETST is pleased to announce the addition of Thomas H. Wright III, Esquire as COO and board director. The company welcomes both of these seasoned corporate business professionals to the Earth Science Tech family and looks forward to new growth and expansion in the near term. ETST felt that this was the ideal time to bring such powerful and diligent executives into the company as well as the board of directors. With both of these C Level officers at the helm, the company is looking forward to rolling out new products and new growth strategies very soon.
Earth Science Tech is excited to announce Matthew Cohen, as CEO, CFO and Director. Mr. Matthew Cohen's professional experience includes establishing and implementing organizational systems controls, policies, and procedures for many different entities, both public and private corporations. Mr. Cohen has worked with NASDAQ to file numerous forms for trade-ability for ultimate approval, developed and converted accounting systems to comply with GAAP and SEC standards and led a team of executives that executed his plan of corporate recovery and financial restructuring which included other under-performing entities. This includes the areas of securities law, bankruptcy and corporate law including the managing of public companies, venture capital firms and private companies. Mr. Cohen is a seasoned veteran keen at identifying working capital for day-to-day and seasonal needs, growth and expansion capital to take advantage of marketing needs, consolidation of existing obligations to improve operating margins and refinancing debt to boost bottom line profitability. Mr. Cohen's professional experience also includes drafting various types of SEC filings, including, Forms 8-K, 10-QSB, 10-KSB, Information Statements and Private Placement Memorandums. He is experienced and has completed and filed SEC filings such as Form 10, 15c211, asset purchase agreements, form D's, Blue Sky compliance, quarterly and annual reports. This includes the restructuring the company's balance sheets and procuring financing for asset purchases. Responsibilities have included implementing and managing financial and operational programs encompassing accounting, administration, purchasing, distribution, data processing, customer service and credit. In addition, Mr. Cohen's responsibilities included P&L planning, treasury functions, banking and legal relations, employee benefits, and business and budget planning.
Mr. Cohen has been part owner and CFO of a corporation providing consulting, system integration and services to clients in the broadcast, microwave, and wireless industries. He has partnered with customers both large and small; met the unique requirements of their individual systems, varying from top-level strategy to the smallest site detail, exceeding roles of integrator or contractor. Some of the things he has accomplished with this corporation include:
• Prepared the Incorporation, articles, by laws, shareholder agreements and employee contracts for the principles of the company.
• Prepared private placement memorandum resulting in $1,000,000 funding, along with all the appropriate forms to retain compliance.
• Procured a $5,000,000 senior secured revolving debt facility from an International Global Credit Master Fund.
• Launched accounting infrastructure and integrated operations of company for full real time processing with billings, payables, tracking of personnel, interfacing with customer's platforms, etc.
• Established Human Resource Dept. which encompassed employee manuals, employee processes & procedures, interactive payroll & filings, drug & alcohol testing, all state & federal tax filings, GPS coordination, etc.
• Modified and executed many master service agreements between multi-billion dollar companies.
• Created a credit and collections department to assist in the accounts receivable initiative for the enhancement in cash flow.
• Authored a Super 8K filing, 2 years of audited statements, footnotes, MDA, risk factors and all the components incorporated in this document.
Mr. Cohen has successfully created a startup publicly held Energy Company specializing in the development and deployment of water remediation technologies through proprietary Integrated Water Systems as well as launched two subsidiaries which provided products, processes and solutions for contaminated water applications. Some of the things he was responsible for were:
• Completed Private Placement Memorandum in conjunction with acquiring a public vehicle for the purpose of a reverse merger;
• Prepared and filed 506 offering document and successfully raised over $20 million.
• Framed and filed an effective form 10-SB Registration Statement and subsequently filed all compliant documentation such as 10K's, 10Q's, 8K's, Forms 1, 2 and 3 and Form D's.
• Crafted contracts including consulting & employment agreements, letters of intent, term sheets, debentures, warrants, promissory notes, stock option grants, articles of incorporation, and preferred stock designations, among others;
• Negotiated short and long-term loans and other forms of financing;
• Composed & filed proxy's, general disclosure compliance under securities laws, registration of securities, Blue Sky compliance, creation of stock option plans & related employee benefit plans;
• Collaborating with auditors and attorneys in quarterly, annual and pro-forma financial statement review and analysis;
• Responsible for all the accounting functions such as monthly closings, treasury functions, accruals and deferrals, and GAAP preparation for financial presentation.
• Preparation of condensed consolidated statements including comprehensive trial balances, consolidated balance sheets, income statements, statement of cash flow, and statement of equity.
• Preparation of comprehensive forecasting and budgeting, including profit and loss, cash flow and balance sheet.
• Conducted and was panel speaker at annual stockholders meeting.
Earth Science Tech is pleased to announce Thomas H. Wright III, Esquire, as COO and Director. Mr. Thomas Hill Wright, III is a partner at the law firm Siegel Siegel & Wright in Boca Raton, Florida and focuses on multiple areas of law including but not limited to corporate matters, intellectual property, drug crimes, synthetic drug testing, medical marijuana and High CBD products. The lawyers at Siegel Siegel and Wright in Boca Raton are already well-entrenched in Cannabis and medical marijuana issues. To view Thomas Hill Wright, III and Siegel Siegel & Wright please visit http://www.teamsiegel.com/lawyers.
Thomas Hill Wright, III is originally from Forest Hills, NY. Mr. Wright relocated to South Florida with his family in 1985. He has an extremely diverse background having studied mechanical engineering at both the Georgia Institute of Technology and the University of Miami. He then pursued expertise in both digital and analog recording arts at Miami-Dade Community College before transferring to Florida State University where he sought degrees in both English and Business before working as Editor I at the Florida House of Representatives.
In addition to studies in the United States at Nova Southeastern Shepard Broad Law Center, Mr. Wright attended law school through Notre Dame University in London, England and through Hofstra University in Nice, France where he had the unique honor of studying under U.S. Supreme Court Justice Ruth Bader Ginsberg. Mr. Wright is married to P. Kathryn Wright, a primary examiner at the United States Patent and Trademark Office; together they have a beautiful daughter, Adelyn.
Mr. Wright has experience handling a wide variety of cases including: family law, personal injury, domestic violence injunctions, corporate contractual matters, patent infringement, entertainment law, drug crimes, sex crimes, juvenile matters, synthetic drugs compliance and now, Cannabis and medical marijuana. The lawyers at Siegel Siegel and Wright in Boca Raton are already well-entrenched in Cannabis and medical marijuana issues. To view Thomas Hill Wright, III and Siegel Siegel & Wright please visit http://www.teamsiegel.com/lawyers.
ABOUT ETST (www.earthsciencetech.com): ETST is a unique Biotechnology company focused on delivering cutting edge Nutraceuticals, Bioceuticals and Dietary Supplements designed for excellence in the areas of Health, Wellness, Sports and Alternative Medicine and to improving the quality of life for Consumers Worldwide. ETST is also dedicated to providing Natural Alternatives to prescription medications through the use of its cutting edge Nutritional and Dietary Supplements. This may include products such as its High Grade CBD (Cannabidiol) Hemp Oil, Vitamins, Minerals, Herbs, Botanicals, Personal Care Products, Homeopathies, Functional Foods and other products. These products may be in various formulations and delivery systems including (but not limited to) capsules, tablets, soft gels, chewables, liquids, creams, sprays, powders, and whole herbs. ETST is focused on researching and developing innovative Hemp extracts and to make them accessible Worldwide. ETST plans to be the premier supplier of the highest quality and purity of High Grade CBD (Cannabidiol) Hemp Oil. ETST's primary goal is to advance different High Quality Hemp extracts with a broad profile of Cannabinoids and additional natural molecules found in Industrial Hemp and to identify their distinct properties. The company is dedicated in offering its consumers the finest and purest quality All Natural-Organic CBD Rich Hemp oil while never compromising on quality. ETST High Grade CBD (Cannabidiol) Rich Hemp oil is classified as "food based" and therefore perfectly permissible in all 50 states and more than 40 countries. Cannabinoids (Cannabidiol/CBD) are natural constituents of the Hemp plant and CBD is derived from Hemp stalk and seed. Hemp oil is a well-known dietary supplement and the naturally occurring CBD possesses no psychoactive qualities and presents a continuing stream of overwhelming evidence of significant Wellness benefits. With no psychoactive ingredient, CBD is a ready-for-market Hemp-based Nutraceutical. The United States Food and Drug Administration (FDA) currently considers non-THC hemp based cannabinoids, including CBD, to be "food based" and therefore saleable. These new non-psychoactive CBD-rich hemp oil products that ETST has geared up to market and distribute are beyond reproach. CBD (cannabidiol), a naturally occurring constituent of the Industrial Hemp plant, promotes and supports the nutritional health of aging bodies in particular. Source: US Government Patent #6,630,507 "Cannabinoids as antioxidants and neuroprotectants." ETST does not grow, sell or distribute any substances that violate United States Law or the controlled substance act. ETST does sell and distribute hemp based products.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE: These statements and products have not been evaluated by the FDA and are not intended to diagnose, treat or cure any disease. Always check with your physician before starting a new dietary supplement program.
FORWARD LOOKING DISCLAIMER: This release contains forward-looking statements that involve risks and uncertainties. Readers are referred to the Securities and Exchange Commission filings filed by the Company on EDGAR at http://www.sec.gov/edgar.shtml, specifically the most recent reports which identify important risk facts that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to review or confirm analysts' expectations or estimates or to publicly release any revisions to any forward-looking statements. The information contained in this press release should not be construed as any indication of the Company's future stock price, its revenues or results of operations.