San Francisco, CA, April 15, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Simlatus Corporation (OTC PINK:SIML) (“Simlatus” or the “Company”), the company announces that pursuant with the filing of our Form 10-KT for the period ending December 31, 2018, the Company will require additional time to complete the audit procedures based upon the facts that the merger took place in November 2018, and the issuer had changed its year-end from March 31 to December 31. The Company was required to file the Form-10KT on or before March 31, 2019, and had filed an extension Form NT 10-K on April 1, 2019 for filing on or before April 16, 2019. The company anticipates filing in the very near future once all of the audit procedures are complete.
Richard Hylen, CEO and Chairman, stated, “Our merger took place in the fourth quarter of 2018, while the company changed its year-end filing date from March 31 to December 31. We anticipate the audit being filed soon without any problems. During this audit time, the company has brought to the table two of the three distribution partners representing $250M in revenues over the next 5 years for its Cold Water CBD/HEMP Extraction Systems. We are now in discussions with the largest CBD extraction producer in the world. They currently produce 4M pounds of biomass per month and will require our technology to maintain their operations. This will be announced in the near future.”
Safe Harbor for Forward-Looking Statements: his news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in general economic and financial market conditions. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Richard Hylen, CEO
tel: (530) 205-3437