Simlatus Corp OTCMKTS: SIML On May 22, 2019 announces the completion and disclosure filing of its audited annual financial statements post-merger and first-quarter financial statements for 2019.
Richard Hylen, Chairman and CEO, stated, “We filed our annual audited financials Form-10KT on May 8, 2019 for the period ending December 31, 2018; and our first-quarter Form-10Q on May 20, 2019 for the period ending March 31, 2019. This has been an undertaking at the very least. Prior to our merger Satel has been in operations for approximately 20 years as a privately held company. Auditing, and Standards and Procedures are much more complex when going public. This is now behind us, and the new public company now has higher revenues and assets; with much more potential for growth.”
Mr. Hylen further stated, “On March 29, 2019 we were very pleased to announce that our new subsidiary, Proscere Bioscience Inc., entered into two lucrative distribution agreements; first with United Opportunities, LLC allowing the rights to sell the Cold-Water Cannabis/Hemp Extraction Systems within all of Canada and Europe. The term of the UOL agreement is for five years with guaranteed minimal purchase orders of $35,000,000 per year and/or $175,000,000 over a five year period, and second with Brand House Ventures Inc. allowing the rights to sell the CBD/HEMP Cold Water Extraction Systems within all of the United States. The term of the BHV agreement is for five years with guaranteed minimal purchase orders of $15,000,000 per year and/or $75,000,000 over a five year period.
“Our company is a ‘triple-play’ for all of our shareholders that include three revenue producing businesses with growing potential, and strong management. Our division of Proscere Bioscience manufactures the first commercial industry standard cold-water CBD/HEMP extraction system for medical grade cannabis utilization, along with their aeroponic commercial grade technology control containers for government food-safety programs, commercial and medical grade CBD. Satel Group is the premier high-rise DirecTV providers in the San Francisco metropolitan area, and is now expanding both DirecTV and Internet services across the SF Bay Area. Simlatus manufactures its own proprietary systems for the major broadcast studios, such as Warner Bros., Fox News, CBS and DirecTV. Its video technology is the major system used for underwater oil exploration in the world.”
Simlatus Corp OTCMKTS: SIML April 15, 2019 announces that pursuant with the filing of our Form 10-KT for the period ending December 31, 2018, the Company will require additional time to complete the audit procedures based upon the facts that the merger took place in November 2018, and the issuer had changed its year-end from March 31 to December 31. The Company was required to file the Form-10KT on or before March 31, 2019, and had filed an extension Form NT 10-K on April 1, 2019 for filing on or before April 16, 2019. The company anticipates filing in the very near future once all of the audit procedures are complete.
Richard Hylen, CEO and Chairman, stated, “Our merger took place in the fourth quarter of 2018, while the company changed its year-end filing date from March 31 to December 31. We anticipate the audit being filed soon without any problems. During this audit time, the company has brought to the table two of the three distribution partners representing $250M in revenues over the next 5 years for its Cold Water CBD/HEMP Extraction Systems. We are now in discussions with the largest CBD extraction producer in the world. They currently produce 4M pounds of biomass per month and will require our technology to maintain their operations. This will be announced in the near future.”