SIML Retires $400,000 in Convertible Debt With Sales Over $20M During the First Half of 2019
SAN FRANCISCO, CA - (NewMediaWire) - August 07, 2019 - Simlatus Corporation (OTC PINK: SIML) (“Simlatus” or the “Company”) today announces that the Company entered into a Release Agreement in July 2019 and agreed to pre-pay the entire balance of a convertible note dated January 31, 2019 with the original principal amount of $33,000 between Emunah Funding, LLC and SIML. The current principal amount of the Note is $77,800. Upon the full execution of the Agreement, the Holder released and returned to treasury 40,000,000 shares of common stock valued at $400,000.
About SIML:While acquisitions of companies in the hemp sector accelerate worldwide as industrial and consumer hemp/CBD markets develop, our Proscere Bioscienceis the company’s division focused on the CBD industry with sales over $20M during the first half of 2019 for its Cold-Water Extraction System.
Satel Groupis one of only a handful of companies holding AT&T contracts to service multi-dwelling units throughout large metropolitan areas in the USA with DirecTV services. Satel services the financial commercial and residential areas in the San Francisco Bay and Silicon Valley metropolitan area.
Simlatusis our manufacturing company which produces high-end audio/video products for DirecTV, CBS, Fox News, Warner Bros., and various underwater oil exploration companies worldwide.
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.
Richard Hylen, CEO
Tel: (530) 205-3437