Earth Science Tech Inc. (OTC: ETST), a strategic holding company in the healthcare, pharmacy, and telemedicine sector, held its first Annual Meeting of Stockholders virtually on August 31, 2026. Shareholders approved several key proposals aimed at positioning the company for an uplisting to a national exchange such as Nasdaq or NYSE, according to a press release issued by the company.
Among the approved measures, shareholders authorized the Board of Directors to pursue a reverse stock split if deemed necessary to meet the bid price requirements for an uplisting. The authorization is valid for a period of 12 months, and the Board will make the final decision on whether to execute the split. Giorgio R. Saumat, CEO and Chairman of the Board, emphasized that he will not proceed with a reverse split unless it is in the best interest of shareholders.
In addition, stockholders authorized the Board’s Independent Special Committee to negotiate the retirement of the Series B Preferred Stock. Eliminating the Series B Preferred Stock would remove the current dual-class voting structure, potentially simplifying the company’s governance and making it more attractive to institutional investors. The proposal to retire the Series B Preferred Stock was part of an offer to purchase and retire those shares, as detailed in the meeting materials.
Shareholders also ratified the appointment of Semple, Marchal & Cooper LLP as an independent registered public accounting firm, re-elected seven director nominees, and authorized a new non-dilutive executive compensation framework. The non-dilutive compensation structure is designed to align executive incentives with shareholder interests without issuing additional shares, which could help preserve shareholder value.
The approval of these proposals marks a significant step in Earth Science Tech’s strategy to uplist to a national exchange. An uplisting could increase the company’s visibility, improve liquidity, and broaden its investor base by attracting institutional and retail investors who may not trade over-the-counter securities. For leaders in the healthcare and telemedicine sectors, the move signals a potential shift toward greater corporate governance and transparency, which could set a precedent for other small-cap companies seeking to elevate their market presence.
Investors and industry observers should note that the reverse stock split, if implemented, would reduce the number of outstanding shares and increase the stock price, but it would not change the overall market capitalization. The retirement of the Series B Preferred Stock could also eliminate the super-voting rights that currently give certain shareholders disproportionate control, potentially making the company more responsive to common shareholders.
For more information on Earth Science Tech’s proposals and updates, refer to the company’s newsroom at https://ibn.fm/ETST. The full details of the meeting and the proposals can be found in the press release at https://ibn.fm/HIqJ9. Additional information about InvestorWire, the communications platform that distributed the announcement, is available at https://www.InvestorWire.com.
