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

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

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

On November 15, 2016, 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
$81,952.13, 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 November 16, 2016, an Order was entered by the Twelfth
Judicial Circuit Court in and for Manatee County, Florida,
approving the Settlement Agreement and Stipulation regarding the
sale of Shares under Section 3(a)(1) of the Act.
ITEM 5.03 Amendments to Articles of Incorporation or Bylaws;
Change in Fiscal Year
5.03(a) Amendments to Articles of Incorporation
On November 14, 2016, we filed a Certificate of Amendment with
the State of Nevada with regard to the issuance of our Common
Stock. We have increased the amount of authorized Common Shares
the Company may issue to 1,500,000,000; par value $ 0.00001 per
share.
ITEM 9. FINANCIAL STATEMENTS AND EXHIBITS
INDEX TO EXHIBITS
Exhibit No.
Description
3.1
Amendment to the Articles of Incorporation
10.1
Settlement Agreement between Rockwell Capital Partners
and Simlatus Corporation
10.2
Order of the Twelfth Circuit Court in and for Manatee
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 -0.00090 at 0.00300 with 1,915,999 shares trading hands.