Earth Science Tech, Inc. (OTCQB: ETST)
Earth Science Tech, Inc. (OTCQB: ETST) – RICH TV LIVE – September 17, 2018 – ETST this week announced uplisting to OTCQB Venture Market
FDA approved product containing cannabidiol (CBD)
Congressional panel to vote on Cannabis Research Bill on September 13
DEA plans to quintuple amount of marijuana for research
The official uplisting of Earth Science Tech, Inc. (OTCQB: ETST) to the OTCQB Venture Market (http://nnw.fm/u7doK) on September 12, 2018, comes at a time when auspicious news graces the cannabis community.
On Thursday, September 13, the U.S. House Judiciary Committee will vote on a bill to increase opportunities for research into the medical benefits of marijuana (http://nnw.fm/cCs90). This follows a report that the Drug Enforcement Administration (DEA) plans to “quintuple the amount of cannabis that can legally be grown in the U.S. for research purposes—from roughly 1,000 pounds in 2018 to more than 5,400 pounds next year” (http://nnw.fm/4mP8R). An announcement on June 25 by the U.S. Food and Drug Administration highlighted the organization’s approval of a drug containing cannabidiol (CBD), marking the first time the agency had given a drug based on substances derived from marijuana the green light. Such action, by Congress and federal agencies, one of which falls under its purview, undoubtedly puts pressure on the justice department to review its stance on cannabis. Hopefully, this will soon be forthcoming.
With an uplisting to the OTCQB Venture Market, Earth Science Tech expects an increase in visibility and share liquidity. It has now acquired fully reporting status with the Securities and Exchange Commission (SEC) under the Exchange Act of 1934. The company will now be mandated to file annual reports with the SEC on Form 10-K, quarterly reports on Form 10-Q and periodic reports on Form 8-K, as well as subjecting itself to additional reporting obligations related to proxies, shareholder actions and stock ownership rules (http://nnw.fm/XRkn6).
In a news release, ETST president, director and Chairman Nickolas S. Tabraue commented, “Historically, up-listing to the OTCQB and being fully reporting has resulted in greater liquidity and awareness. We are committed to the higher level of corporate and financial disclosures required as an OTCQB fully reporting company, demonstrating our commitment to our loyal shareholders.”
The FDA ruling on June 25 is likely to have a ripple effect. It is the first time a product that “contains a purified drug substance derived from marijuana” has been approved by the FDA (http://nnw.fm/Xdsg0). The favored drug is GW Pharmaceuticals’ (NASDAQ: GWPH) Epidiolex, an oral cannabidiol (CBD) solution, for the treatment of seizures associated with two rare and severe forms of epilepsy, Lennox-Gastaut syndrome and Dravet syndrome, in patients two years of age and older. It is also the first FDA approval of a drug for the treatment of patients with Dravet syndrome. Its authorization should overcome justice department inertia.
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