Simlatus Corporation (OTC Pink: SIML) operates as a manufacturer of proprietary commercial audio/video products for networks with major broadcast studios. Shares soared 257.14% on Thursday, February 14, 2019. Over the past month, Simlatus has seen an average daily volume of 204,867 shares. However, on Thursday, 6,776,017 shares traded hands, equating to $135,500 in dollar volume.
Shares soared on Thursday after Simlatus announced the acquisition of Proscere Bioscience, Inc. and the exclusive licensing rights for its cold-water CBD Extraction Technology. Simlatus completed this deal in conjunction with Satel Group, Inc., which merged with Simlatus in November 2018. Upon completion of the acquisition, Simlatus plans on restructuring as a holding company for its now three wholly-owned subsidiaries. Richard Hylen, Chairman and CEO of Simlatus, commented, “We have a tremendous amount of excitement in announcing the acquisition of the technology and manufacturing of Cold-Water CBD Extraction systems. Although Satel Group is very focused on growing our existing revenue stream alongside of Simlatus, we are adding an additional revenue stream to diversify our business model.” Here is the full press release detailing the acquisition:
Simlatus Corporation Press Release:
San Francisco, California, Feb. 14, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Simlatus Corporation (OTC PINK:SIML) (“Simlatus” or the “Company”), Satel Group announced the merger with Simlatus in November 2018, and the merger resulted in the expansion of Satel’s San Francisco based internet business. Today, Satel Group and Simlatus announce the acquisition rights of cold-water CBD Extraction Technology and various agricultural products for the aeroponics industry.
Richard Hylen, Chairman and CEO, stated, “We have a tremendous amount of excitement in announcing the acquisition of the technology and manufacturing of Cold-Water CBD Extraction systems. Although Satel Group is very focused on growing our existing revenue stream alongside of Simlatus, we are adding an additional revenue stream to diversify our business model. I have strong relationships with various technologies, and I have been able to negotiate the acquisition of cold-water CBD extraction and aeroponic agricultural products, as well as, expand the Board of Directors with the appointment of Baron Tennelle and Victoria Boltrick.”
Mr. Hylen further stated, “Our auditors, M&K, have suggested changing our fiscal year ending to December 31; therefore we will be disclosing this change and file our Form 10-K on or before March 31, 2019. We plan to restructure the public company as a Holding Company, and it will wholly own the three subsidiaries “Satel Group Inc.”, “Simlatus Corporation”, and “Proscere Bioscience Inc.” We will keep our shareholders and public informed on a more frequent basis as we grow this dynamic portfolio of revenue producing companies.”
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company’s progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management’s opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The Company’s operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company’s periodic filings with the U.S. Securities and Exchange Commission.
Article By: Andrew Rego