SIML Increased Revenues and Assets -- $250M in Distribution Contracts
San Francisco, California, May 22, 2019 ( NewMediaWire ) -- Simlatus Corporation (OTC PINK:SIML) (“Simlatus” or the “Company”), a company that operates multiple revenue streams in the CBD Industry, Major Broadcast Industry and Internet Provider Industry 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.”
Safe Harbor for Forward-Looking Statements: This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in general economic and financial market conditions. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.