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 OR CERTAIN OFFICERS; ELECTION OF
DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY
ARRANGEMENT OF CERTAIN OFFICERS
President, Chief Executive Officer and Secretary of the
Company, effective June 1, 2017. The resignation did not
involve any disagreement with the Company on any matter
relating to the Companys operations, policies or practices. Mr.
Tilden will continue assisting the Company to a Consulting
Agreement effective June 1, 2017. Further, the Company will
issue Mr. Tilden Preferred Series A Shares in exchange of
accrued salary and expenses Additionally, Mr. Tilden will
return 250 Shares of Series B Voting Preferred Shares to the
Company for cancellation.
position of President, and Chief Executive Officer of the
Company, effective June 1, 2017. Mr. Stillwaugh will be
compensated under his Employment Agreement entered into on
April 1, 2016, and will receive no additional compensation to
his appointment.
broadcast and television industry. After graduating from the
University of Cincinnati with a Bachelor degree in
Radio-Television Broadcasting, he spent the next 50 years in
the broadcast and television industry gaining extensive
experience in television station operations and management,
product design and product integration. Bob served 24 years
with Grass Valley Group, a widely recognized brand in the
industry, located in Northern California’s Tech Arena, where
he specialized in engineering, product development and
systems engineering as he managed the customs products group.
After his tenure with the Grass Valley Group, he spent the
next 17 years as a VP of Engineering as well as a founder and
President of his own company where he developed proprietary
broadcast systems for giants such as CBS, FOX, NBC, ABC,
Warner Bros., ESPN, and DirecTV. These products are the
‘gold-standard’ in today’s market as Simlatus continues to
expand its existing revenue stream, selling the legacy
products developed by Mr. Stillwaugh. Today Mr. Stillwaugh is
devoting his full time to Simlatus to grow its legacy
products, and its new immersive product line to meet the
future technology needs of the industry.
as Secretary of the Company, effective June 1, 2017. Mr.
Schatz will be compensated under his Employment Agreement
entered into on April 1, 2016 and will receive no additional
compensation to his appointment.
after serving 4 years in the U.S. Air Force he started his
career with General Electric Nuclear Power Division in their
information systems section as a computer specialist. He then
spent 17 years working for Hewlett-Packard designing PC
boards, CAD system management and instructed RD personnel in
CAD design concepts and practices. Mr. Schatz was employed by
a variety of tech companies later in his career, such as
Crucial Technology, a division of Micron Technology, and RJM
Associates, LLC. Today, Mr. Schatz leads Simlatus with
product design, manufacturing and RD.
ITEM 8.01
OTHER EVENTS
to the resignation of Mr. Tilden and the appointment of Mr.
Stillwaugh.
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10.1
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Consulting Agreement with Gary Tilden
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10.2
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Employment Agreement with Robert Stillwaugh
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10.3
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Employment Agreement with Mike Schatz
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99.1
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Press Release
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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. SIMLATUS CORP. (OTCMKTS:SIML) Recent Trading Information
SIMLATUS CORP. (OTCMKTS:SIML) closed its last trading session 00.00000 at 0.00010 with 43,280,002 shares trading hands.