$SIML Proscere Bioscience Positions Long Term Strategy
San Francisco, California, July 24, 2019 (NewMediaWire) -- Simlatus Corporation (OTC PINK: SIML) (“Simlatus” or the “Company”) is a holding company focused on opportunities in the cannabis space. The Company owns and operates a number of subsidiaries with multiple revenue streams. While acquisitions of companies in the hemp sector accelerate worldwide as industrial and consumer hemp/CBD markets develop, our Proscere Bioscience is the company’s division focused on the CBD industry. In addition, the company’s diversity includes other subsidiaries, such as Satel Group, a premier high-rise DirecTV provider for the financial commercial and residential metropolitan San Francisco Bay area, and Simlatus, a manufacturer of audio/video products that currently sells to DirecTV, CBS, Fox News and Warner Bros, announces negotiations with largest cannabis processor in the world.
Richard Hylen, Chairman and CEO, stated, “The Company filed a Pre-14 (c) statement pursuant with an amendment to its Articles of Incorporation, which increased authorized shares from 975,000,000 to 1,500,000,000 with the Secretary of State of Nevada. The purpose for the increase in the number of authorized shares is pursuant with the note-holder requirements for the reserves specified under each of the notes on the Company’s derivative table. Fluctuation in the stock price enforces issuer compliance for note-holders to restructure share reserves. To some this event could be incorrectly interpreted as negative. I can assure everyone that, with an accurate understanding of the numbers, key relationships, and the Company’s goals, this is a very positive event for the Company and its followers. The total note value can easily be managed considering the analytics of the trading volume of approximately $1M per month. The technical data for our company is strong and compelling.”
Mr. Hylen further stated, “It is very important to understand the actual numbers the Company monitors critical to long term success. As of July 22, 2019, current issued and outstanding shares are 238,061,018; of which 103,021,354 shares are restricted and the remaining 135,039,664 shares unrestricted. The Company’s current value of notes and corresponding reserves is $1,131,683. The Company is positioned, as an anti-dilution measure to prepay $466,891 before notes mature. There have been 86,874,321 shares converted to retire notes since May 31, 2019. The company has traded approximately 210M shares since May 31, 2019 which is more than double the shares that have been converted and dollar volume of $2.3M. The Company is committed to allocate 50% of its revenues towards prepayment of notes which will provide the Company an opportunity to reduce the authorized shares pursuant with the reduction in reserves and dilution respectively.”
