Simlatus Corp. (OTCMKTS:SIML) Files An 8-K Entry into a Material Definitive Agreement

Simlatus Corp. (OTCMKTS:SIML) Files An 8-K Entry into a Material Definitive Agreement
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

On February 28, 2017, the Company entered into a Settlement Agreement with Rockwell Capital Partners, wherein Rockwell agreed to purchase a number of outstanding debts, in the total amount of $81,163.25, to a Claims Purchase Agreement and an order of the Court, following a Fairness Hearing under Section 3(a)(10) of the Securities Act of 1933 (the “Act”).
to the Order of the Court, Shares of Common Stock shall be issued to Rockwell in exchange of the debt, and to the Order.
On March 1, 2017, an Order was entered by the Twelfth Judicial Circuit Court in and for Sarasota County, Florida, approving the Settlement Agreement and Stipulation regarding the sale of Shares under Section 3(a)(1) of the Act.
ITEM 9. FINANCIAL STATEMENTS AND EXHIBITS
INDEX TO EXHIBITS
Exhibit No. Description
10.1 Settlement Agreement between Rockwell Capital Partners and Simlatus Corporation
10.2 Order of the Twelfth Circuit Court in and for Sarasota County, Florida

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 down -0.00010 at 0.00040 with 75,817,720 shares trading hands.

An ad to help with our costs