Simlatus Corp. (OTCMKTS:SIML) Files An 8-K Other Events
Item 8.01. Other Events.
Satel signed two new properties on May 25, 2019 totaling approximately 300 units, with new construction of 10,000 new MDU units in the next three years. With this continued growth, Satel anticipates increasing its MDU revenue initially $6,000 per month for the units upto $200,000 per month over the next 3 years.
Satel was awarded national distributorship from Sendtek for its internet over coaxial cable products. Sendtek’s 1 and 2 gigabit equipment allows Satel to bring high-speed internet services to its existing MDU market, with over 19,000 units passed, without additional capital required to new cables. Lower initial capital costs will allow Satel competitive pricing. The revenue increase through the integration of the Sendtek technology has the potential of $40/month for each of the 19,000 existing customers, or approximately $760,000 per month.
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.
