Earth Science Tech, Inc. (OTC: ETST) announced the results of its first Annual Meeting of Stockholders, held virtually on August 31, 2026. The company reported that shareholders approved a reverse stock split strategy, valid for 12 months, which the board may implement only if necessary to meet minimum bid-price requirements for an uplisting to a national securities exchange. This move is aimed at positioning the company for potential listing on a major exchange, which could enhance liquidity and visibility.
In addition, shareholders authorized the board's independent Special Committee to negotiate the retirement of the Series B Preferred Stock. The company stated that retiring this stock would eliminate its dual-class, super-voting control structure, simplifying its corporate governance and potentially making it more attractive to a broader range of investors.
The meeting also saw approval of a cash-only 'Say-on-Pay' executive compensation structure, with shareholders electing a three-year review cycle. All seven director nominees were re-elected, and Semple, Marchal & Cooper, LLP was ratified as the independent registered public accounting firm for the upcoming fiscal year.
Earth Science Tech noted that an audio replay of the meeting, which includes management guidance and additional details on the approved proposals, is available for shareholders. The company operates as a diversified holding company focused on the health and wellness sector, building a vertically integrated healthcare platform that combines compounding pharmacy operations, telemedicine platforms, clinical support, and direct-to-patient fulfillment. Its subsidiaries work synergistically to integrate patient care from consultation to fulfillment.
The approval of these measures is significant for Earth Science Tech as it seeks to strengthen its financial and governance framework. The potential uplisting could increase the company's access to capital markets and broaden its shareholder base, while the retirement of the Series B Preferred Stock could simplify its capital structure and reduce potential conflicts between different classes of shareholders.
For more information on the company's news and updates, visit the company's newsroom at https://ibn.fm/ETST. The full press release can be viewed at https://ibn.fm/KCU5p.
