Simlatus Corp. (OTCMKTS:SIML) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

The Board of Directors dismissed Robert Stillwaugh as an officer and director, specifically as the Chief Executive Officer, Chairman of the Board, and Corporate (President) of the Company effective November 1, 2018. Effective November 1, 2018 Mr. Stillwaugh will have a new revised Employment Agreement which appoints him as President of Simlatus, a non-director/officer position which includes returning to Treasury 250 Preferred Series B Control Shares, and an annual salary of $45,000 which can be accumulated at 6% interest and converted to restricted common stock at fair market value at the time of conversion.

The Board of Directors dismissed Mike Schatz as an officer and director, specifically as the Chief Operations Officer, Director and Corporate (Secretary and Treasurer) of the Company effective November 1, 2018. Effective November 1, 2018, Mr. Schatz will have a new revised Employment Agreement which appoints him as the Vice President of Simlatus, a non-director/officer position, which includes returning to Treasury 250 Preferred Series B Control Shares, and an annual salary of $45,000 which can be accumulated at 6% interest and converted to restricted common stock at fair market value at the time of conversion.

The Board of Directors appointed Richard N. Hylen as the new Chief Executive Officer, Chairman of the Board, and Corporate (President, Secretary, and Treasurer) of the Company effective November 1, 2018. Richard will be provided an Employment Agreement that includes the issuance of 500 Preferred Series B Control Shares, and an annual salary of $120,000 which can be accumulated at 6% interest and converted to restricted common stock at fair market value at the time of conversion.

Mr. Hylen is 72 years old. As the Founder of Satel Inc., the Managing Director of Turner Broadcasting Far East LTD, and a Senior Executive of Viacom’s San Francisco cable company, Richard has over 35 years of experience providing video and Internet using the most advanced technologies including: cable, fiber, satellite, wireless and CAT5 not only domestically, but to over 50 countries worldwide. His skill set encompasses successfully negotiating complicated licensing agreements with governmental entities, creating joint venture partnerships, developing strategic distribution relationships, financing, designing, installing and managing advanced technologies to provide consumers with video and Internet services. Hylen used his extensive corporate management expertise combined with his technical knowledge to create Satel, recognized as one of the nation’s largest providers of DirecTV to high rise buildings in a major metropolitan market.

Item 9 Financial Statements and Exhibits

FORWARD LOOKING STATEMENTS

Certain statements in this Current Report Form 8-K may contain forward-looking statements that involve numerous risks and uncertainties which may be difficult to predict. The statements contained in this Current Report Form 8-K that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the ” Securities Act ” ), and Section 21E of the Exchange Act, including, without limitation, the management of the Company and the Company’s expectations, beliefs, strategies, objectives, plans, intentions and similar matters. All forward-looking statements included in this Current Report Form 8-K are based on information available to the Company on the date hereof. In some cases, you can identify forward-looking statements by terminology such as ” may, ” ” can, ” ” will, “ ” should, ” ” could, ” ” expects, ” ” plans, ” ” anticipates, ” “ intends, ” ” believes, ” ” estimates, ” ” predicts, ” ” potential, ” “ targets, ” ” goals, ” ” projects, ” ” outlook, ” ” continue, ” ” preliminary, ” ” guidance, ” or variations of such words, similar expressions, or the negative of these terms or other comparable terminology.

Forward-looking statements involve a number of risks and uncertainties, and actual results or events may differ materially from those projected or implied in those statements.

Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. We can give no assurance that the results contemplated in the forward-looking statements will be realized. The inclusion of this forward-looking information should not be construed as a representation by the Company, or any person that the future events, plans, or expectations contemplated by our company will be achieved.

We caution against placing undue reliance on forward-looking statements, which contemplate our current beliefs and are based on information currently available to us as of the date a particular forward-looking statement is made. Any and all such forward-looking statements are as of the date of this Current Report Form 8-K. We undertake no obligation to revise such forward-looking statements to accommodate future events, changes in circumstances, or changes in beliefs, except as required by law. In the event that we do update any forward-looking statements, no inference should be made that we will make additional updates with respect to that particular forward-looking statement, related matters, or any other forward-looking statements. Any corrections or revisions and other important assumptions and factors that could cause actual results to differ materially from forward-looking statements may appear in the Company’s public filings with the SEC, which are available to the public at the SEC’s website at www.sec.gov.

Simlatus Corp Exhibit
EX-10 2 board-resolution.htm BOARD RESOLUTION DATED 10-29-2018 CORPORATE RESOLUTION OF THE BOARD OF DIRECTORS OF Simlatus Corporation   We,…
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About Simlatus Corp. (OTCMKTS:SIML)

Simlatus Corporation, formerly Grid Petroleum Corp., designs, manufactures and sells audio and video broadcast equipment. The Company builds and thoroughly tests these items in-house prior to shipping to its customers. It has a revenue base in the broadcast industry with long-term national and international distribution. Its customers include smaller broadcast customers, which include religious facilities, international broadcast facilities and colleges, as well as radio stations, among others. It sells over 55 different products, which include a range of protection switches, high definition (HD) routers, analog routers, control panels, audio distribution, SyncPal and the SoundPal. The new products include SocialCast AR, Augmented Reality, and Virtual Reality Content Server. The target technologies include Virtual Reality, Augmented Reality, Audio/Video Codecs, Audio Content Recognition, and over-the-top (OTT) application program interface (API) integration into key platforms.