Earth Science Tech, Inc. (OTC: ETST) announced the voting results from its first Annual Meeting of Stockholders, held virtually on Aug. 31, 2026. The company revealed that shareholders approved a strategic plan to pursue an uplisting to a national securities exchange, which includes authorizing a reverse stock split. The reverse split, valid for 12 months, will be implemented only if the board determines it is necessary to meet minimum bid-price requirements for the uplisting.
In addition, shareholders authorized the board's independent Special Committee to negotiate the retirement of the Series B Preferred Stock. This move is expected to eliminate the company's dual-class, super-voting control structure, a significant governance change that could make the company more attractive to a broader range of investors. The retirement of the preferred stock is a critical step in simplifying the company's capital structure and aligning with best practices in corporate governance.
The meeting also saw shareholder approval of the company's cash-only “Say-on-Pay” executive compensation structure, with a three-year review cycle established. All seven director nominees were re-elected, and Semple, Marchal & Cooper, LLP was ratified as the independent registered public accounting firm. The company provided an audio replay of the meeting, which includes management guidance, additional detail on the approved proposals, and a shareholder question-and-answer session.
The approval of these measures is pivotal for Earth Science Tech as it seeks to enhance its corporate governance and potentially list on a national exchange, which could increase liquidity and visibility. The reverse stock split is a common strategy for companies to boost their share price to meet exchange listing requirements, while the retirement of the Series B Preferred Stock addresses concerns about unequal voting rights, which are often viewed negatively by institutional investors.
Earth Science Tech operates as a diversified holding company focused on the health and wellness sector. Its principal strategy is to build a vertically integrated healthcare platform that combines compounding pharmacy operations, telemedicine platforms, clinical support, and direct-to-patient fulfillment. The company's healthcare operations are supported by investments in real estate and asset management activities and a consumer products business. The core of the company's value proposition is the seamless integration of patient care, from consultation to fulfillment, achieved through the synergy of specialized subsidiaries.
The company's newsroom provides the latest updates on ETST, and more information about the voting results can be found in the full press release at https://ibn.fm/KCU5p. For ongoing news, visit the company's newsroom at https://ibn.fm/ETST.
