- Earnings call transcript Q2 2023

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Operator

Good day, everyone and welcome to today’s Earth Science Tech Second Quarter Fiscal 2023 Financial Results and Outlook. [Operator Instructions] Forward-looking statements are included within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive position, growth opportunities, plans and objectives as management or future operations, listing of the CSE, including words such as anticipate, if, believe, plan, estimate, expect, intend, may, could, should, will and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance or achievements to differ materially from the anticipated results performance or achievements.

We are under no obligation to and expressly disclaim any such obligation to update or alter our forward-looking statements whether as a result of new information, future events or otherwise. It is now my pleasure to turn the conference over to Giorgio Saumat. ahead. go Please

Giorgio Saumat

Thank everyone. for in. calling Good you, afternoon, guys

the ETST – September in I We people but are now. the the the discuss to in many what’s that quarter, here subsequent guess events more going on most am sure are and call probably I on interested XX, recent

you link, So I the a give that is released was give one PR for am me which it. sorry the summary am brief going send second, me asking can today. he to in was in I put

Those So, I quarter. tell here. a pretty just two pieces basically discuss the past the at $XXX,XXX the into will a pretty quickly, had company balance of us was I am it $X,XXX. much is The are simple, And am going that I it bit later. that company get last to results, cash end and of little which the lost shell of why during information a since September

you is So that our store And Peaks. guys we that are and with in. our consummated have merger we with read, the RxCompound as business now know or probably

and actively be With converted meat, think and forward-looking the We more which most so release it I not a of I is company stuff the is am stopping you past this open the simple since stuff. pretty said, that looking are the RxCompound, because Peaks of for XX-Q And with to up, in queue. will, the questions, press holding if the will of we at our acquisition acquisitions. entity into are actually further going just

to happy So with that moderator, are begin the we Q&A.

Operator

an considering a Ji from comes to positive question achieving you have timeline first Our Do milestone. seems Tom cash it? asking, important flow for Instructions] [Operator be

Nickolas Tabraue

the few timeline, taken month is with a in past answer years, don’t but few in lot Nickolas a we And thought did held any the We of weeks. we to to honestly that recently easy just is we Tabraue speaking. have weeks, we know. short will but have don’t what The want we especially be This October. just accomplished achieved

work, year. with could very mid-next much progress mean I an That’s to soon our So, very, pretty on hopefully and early interesting… our be hard it

Operator

comes asking. any directors on Si Will question from next Board? Our David be independent there the

Giorgio Saumat

Hi.

are of So, who when forward, one I makeup board, is is the But Board we the – thought board choosing as the board. the this to putting wanted my process of am we – the men. the well is five have since

have operation I somebody we which the said and mostly the wanted think and running that’s Mario his still, So finance, we in I RxCompound and job to Peaks. operations of that someone wanted and sales sales Tabraue,

he adding will So obviously, Board. be on we are the

the Earth Tech whole As doing Nick compliance, has been what as through Science far time. that’s

then people few board. have he one those in be And sort. of or then professional, are the a notable positions. and be spoken lot fill someone So or to would positions which two doctor, or the of legal and professional, be of somebody last we will want a a medical ideally, independent have on we a that experience that is two the already There to could said, interest a asset quite the in being interviewed I company. That community a to are significant

of the well-respected So, you can’t positions people. two will those to dates, have I but filled positions some by intention is tell that fill we with I announced end doubt those be? no have to and able exact will be December. that my When qualified highly

Operator

between Samaut how can relationship of you please question the your Our asking, plans? since is comes and Tabraue R control? Adrian on next is there immediate future enough for from cash hand discuss And change

Giorgio Saumat

take don’t you cash the why the on about hand? Mario, question Okay,

Mario Tabraue

Yes.

now, so flow right enough have we positive. the cash hand get So, believe cash we on operations to

reducing, are at that improved. And our balance the pace We have sheet moving we debt definitely we that do hand. with with has been to feel continuing enough on I cash move the been have

Nickolas Tabraue

another sheet I or think is there it reduction have way more there can Now to is efficient do, can balance but we that we being that the question if that change, it. do said presently is that answer

However, I little the the to other working am sheet with try side. actively creditors a balance liability on reduce to more

Mario Tabraue

As far goes… relationship as our

Nickolas Tabraue

Yes.

was far both stepping the it I think was have mentioned collectively weeks little made the incredible few individually. rocky and at the given situation the that situation at was relationship a the company amount into in of call, As last as as first, the we an but and beginning progress the I of

I We having a a little mutual bit have definitely trust amount definitely we each have had expect think to created to honest, have continue, other. and we respect and fun be And are – all that this of I quite point. gotten at in stronger. of

Mario Tabraue

Yes, the I with concur would fun.

know you steps are getting someone it’s having point. didn’t know, yourself that but into when far we way, I in think fun – I you this As at what are as some

Operator

asking, explain from comes the Robert room and please question Y can next you significance? sterile Our its

Nickolas Tabraue

let you, Mario. will I

Mario Tabraue

that injectables medications our Achilles it Everybody till pharmacy them essential our essential hard pharmacy sterile might now. it’s kind are regular be to I germ sterile are. been it’s from and an of our albeit is Many to and largest in not think, an probably make part Google our going done pharmacy, is of generating And the it’s nutshell, all heel adding the growth, this to are be rooms. revenue for is a to get explain business. environment your of we an But in going you of compound the where wants explain, to could Actually free. sure So it injectables room best. compound they book

be do That’s to for hazardous progesterone to lot to what as that room. with probably to able adding currently sterile room and creams, outsource. of are a to we which that have demand going going have So, help, we well going live are to testosterone, a going be prior big as the also the be we is

So, hazardous sterile sooner even soon is growth. very looking the we coming are forward and and to

Operator

for Kimberly asking company was what this the shell? from purpose the the Our next quarter T, comes was a question last

Nickolas Tabraue

think the they out Okay. to, plans the the they Well, that out. of some – company and receivership, things at the guess payment initially came beginning, I had had I when pay

So, this you start development develop in then which to also was get website launch, and the soft there the of with that. they did And trying July, July. they were the – Peaks

the that were the and at of of expenses also location for took tenants So, to things that buyout they previous trying took there also, new the rent, location. time was out and the that and this And some some went capital. development get for

Operator

comes all Our next RxCs from question is Peaks Kevin licensed states? S, in asking XX

Mario Tabraue

The pharmacy states to currently licensing not we by plan move go our doesn’t additional to So, working at the is Store. on network RxCompound do to XX for all that credentialing licensed are in But need is piece doctor our is a waiting states. licensed. be that ready standing itself in have into. We Peaks we currently,

live. and right Florida ones be York, and from onboard aside as they they So, come states go have and as will accordingly the we coming New updating now, that be ahead which we soon will are currently

Operator

question positive, with do comes is next cash to what do plan asking you the flow cash? from Our when Charles excess company D,

Mario Tabraue

is that taken Who one? Maybe to Okay. going have take one? you that

Nickolas Tabraue

Yes.

are there not We yet.

much be focused higher the are step and Board to tiers. we pretty are to us to our cash utilizing think But shared on once we five we publish into because cash all the discuss to some that positive. something of be but discussed Will best flow will There there. the the I be flow positive. we will will but getting ideas, have up positive there, back ideas, the and once many be flow options when just it have members we now lifting there be will which OTCQB, the to flow, cash cash and are as have get is cash best to just first want also comes utilizing be now, many the We be go, cash way them of will options, right route will

Mario Tabraue

Let add to that. me let me

that shareholder is growth fund shareholder get comes time when considered much There the with in is at will which my two options. think mind there. both think increased long-term that are good values I future I pretty least, be will based mind. options to decision either When we be for value in do only it’s or

we at there look it comes. said, again just as So, to Nick like will when But is our that possible. quickly as time get goal

Operator

on asking, G, Our you next details and from can Frank timeline? more OTCQB comes give question

Mario Tabraue

That’s unique.

Nickolas Tabraue

RxCompound now our are on audits Store and Curative. Right working for we both Peaks

two January Markets see audits X-K We OTC done of and as within relatively X-K. will are currently Once our audits. the we file the those one shorts that currently be help out two Peaks us based audit soon. Rx which follow on to those have have you will utilizing of with hopefully super sooner. PCAOB more month super completed should

We XXX to on the to moment. with are and that OTCQB also are the at remedy portal going be apply currently dealing we

XXXX. looking end the by if markets OTCQB year the hopefully and are applying not we application to next process, to year, So, on this early depending of OTCQB year the

Mario Tabraue

soon can. as possibly as we Basically

Nickolas Tabraue

Yes.

Mario Tabraue

that it put Let’s way.

Nickolas Tabraue

that things are we doing, are are some we on of other is depends there if control, it people. out so But depending sometimes just our

Operator

comes executive Chris question from compensation? A, asking your next our what’s So plan for

Mario Tabraue

Alright.

complete those compensation independent is call a where I And you members. the the what I cash takeover, flow give. – it whole the of can a I the agreed to it’s on if but company point be the to independent it becomes positive. cash Nick the up no the with this of will flow can is I take least time with over part compensation, we would to executive at deal. And members. Board as executive So, input don’t decision that’s expect Mario have and know company to then positive, By answer make what only a want think

take see are independent positive. when decide We flow to and all shareholders the cash And want are interest. of voices definitely wait obviously, the we going in to to room I care to

Operator

further at to the remarks. will or speakers program appears additional closing have for we it no the And time. I questions this back any turn

Nickolas Tabraue

Does questions? that’s to it. anybody then, add any want other So

closing this then, a if will call. Okay, if customer. to we The on is thing it your call, will everybody, interest the a to say are you in to this way best be for well, shareholder you, to what I is are you the support say up, I company one thank

in I personally, and a do what I invest they I their I I don’t investing and do. lot don’t will So, of you, tell products I companies in in which mean, believe

my have be to going in adding website, look at Peaks. Right. at least, be the going look would is products there the more recommendation Peaks at future. is RxCompound, website, at So, look to the revamped in

think me to of course, be ability medications, discovered providing has of I the I that ED is clear, open possibilities is expect of market, to there done, a be which legacy as forms are alternative and will So, please to few tends be that’s for customers. quite they a Store, market, your doing, to very certainly shareholder autism they to – our to let And pretty best to are be people recently, up which one strength. to if going you big have in their That would be do said, turned customers. what innovative And have being out their RxCompound to, specifically other things for a the everybody deal.

line Thank more everybody. So, tuned. support, stay I your have coming you a and for lot a great there night would and guys say the is down just

Operator

and at This any may Thank does time. program. participation for you today’s your you conclude disconnect

Giorgio Saumat	Investor Relations
Nickolas Tabraue	Chief Executive Officer
Mario Tabraue	President

Earth Science Tech (ETST) 16 Nov 222023 Q2 Earnings call transcript