================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________________________________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (D)
of the
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported) March 29, 2007
____________________________________________________
EARTH SEARCH SCIENCES, INC.
(Exact name of registrant as specified in its charter)
NEVADA
(State or other jurisdiction of incorporation or organization)
87-0437723
(IRS Employer Identification Number)
306 STONER LOOP ROAD, #6
LAKESIDE, MT 59922
(Address of principal executive offices)
LARRY F. VANCE
EARTH SEARCH SCIENCES, INC.
306 STONER LOOP ROAD, #6
LAKESIDE, MT 59922
(Name and address of agent for service)
(406) 751-5200
(Telephone number, including area code of agent for service)
SECTION 8 - OTHER EVENTS
ITEM 8.01 OTHER EVENTS
- -------------------------
Earth Search Sciences, Inc., [OTC/BB:ESSE], a leading provider of value-added
-----------
hyperspectral exploration services to the mineral, hydrocarbon and environmental
industries, today announced that it intends to file notice with the SEC to
remove extensive debt charges associated with the company's financial
statements. The company's Board of Directors and outside legal counsel advised
that a substantial amount of the current liabilities carried in the company's
balance sheet can be eliminated by accounting standards compliant with the
statute of limitations.
"Earth Search Sciences, Inc. and the company's auditors have received a legal
opinion letter outlining the contracts entered into by Space Technology
Development Corporation (STDC), a wholly-owned subsidiary of ESSI," said Larry
Vance, Chairman of ESSI. "In essence, the legal opinion states that because
STDC ceased operation on the contracts by November 2000, any breach of the
contracts would have occurred more than seven years ago. Accordingly, the
company has been advised that any future action arising out of the contracts
should be barred by the statute of limitations."
ABOUT EARTH SEARCH SCIENCES
Earth Search Sciences, Inc.'s [OTC/BB:ESSE] revolutionary hyperspectral
technology provides the ability to accurately read the chemical properties of
surface substances from great altitudes and produce easily interpreted maps
allowing the user to identify specific minerals and substances on the surface of
the earth by their diagnostic reflectance patterns. Ultimately, this remote
sensing capability identifies a greater number of exploration targets quickly
and economically, monitors the environmental situation, and improves the
probability of finding anomalies. Older, more conventional methods would take
decades to cover the same area, and at a much greater cost. Within the realm of
exploration, remote sensing does not replace the need for geological knowledge,
geochemistry, geophysics, seismic, drilling, etc, which are some of the more
conventional tools used for exploration.
Page 1
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
EARTH SEARCH SCIENCES, INC.
By: /s/ Larry F Vance
Larry F. Vance, Chairman/CEO
Date: March 29, 2007
Page 2