Innovative biotechnology company Earth Science Tech (OTCQB: ETST) this morning announced that its sponsored foundation, Earth Science Foundation, Inc., is now a 501(c)(3) organization. Per the update, the non-profit status enables the foundation to accept tax-free contributions to fund further studies of cannabidiol (“CBD”) products. The foundation, as of February 11, 2019, is officially exempt from federal income tax under Internal Revenue Code (“IRC”) Section 501(c)(3) and is qualified to receive tax deductible bequests, devises, transfers or gifts under Section 2055, 2106, or 2522. The status enables donors to deduct contributions they make to the foundation under IRC Section 170. “The Earth Science Foundation is focused on supplying CBD oil to individuals suffering from cancer, epilepsy, depression, autism, chronic pain, dementia, substance abuse, AIDS, and other ailments,” ETST President and Director Nickolas S. Tabraue said in the news release. “This echoes the broader corporate goal to help people improve their quality of life. Achieving 501c3 status is a significant step forward and we will continue to support the Foundation in any way we can in the public interest and for the good of all.”
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About Earth Science Tech Inc.
Earth Science Tech offers the highest purity and quality high-grade full-spectrum cannabinoid oil on the market. There are positive results in studies on breast cancer and immune cells through the University of Central Oklahoma; in addition to studies through DV Biologics that prove the company’s CBD oil formulation lowers cortisol and functions as a neuro-protectant, with positive-result case studies through key health organizations. ETST formulates, markets and distributes the CBD oil used for its studies to the public, offering the most effective quality of CBD on the market. For more information, visit the company’s website at www.EarthScienceTech.com.
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