On November 11, 2016, the Board of Directors issued, or caused to be issued, 87,500,000 shares of Common Stock to Donna Murtaugh in lieu of payment, and in accordance with a certain Asset Purchase Agreement the Company entered into with RJM and Associates, dated March 10, 2016, and, an Amended Asset Purchase Agreement dated August 3, 2016.

On December 5, 2016, Donna Murtaugh entered into a Cancellation of Issued Shares Agreement (“Agreement”) with the Company, whereby she has agreed to the cancellation of those 87,500,000 Shares and to defer payment to her under the Asset Purchase Agreement and the Amended Asset Purchase Agreement.

ITEM 9. FINANCIAL STATEMENTS AND EXHIBITS

INDEX TO EXHIBITS

Exhibit No. Description

10.1 Cancellation of Issued Shares Agreement

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 -0.00025 at 0.00105 with 20,998,122 shares trading hands.