San Francisco, California, May 20, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Simlatus Corporation (OTC PINK: SIML) ("Simlatus" or the "Company"), announces today that the company has completed its testing and will move forward with Proscere Bioscience's CBD coldwater extraction systems and initial $20M in orders.
Under COVID19 rules, the company audit for the year ending 12/31/2019 is completed and scheduled for filing, and the quarter ending 3/31/2020 will follow shortly.
Richard Hylen, CEO, stated, "The Company has endured the COVID19, and can proceed forward in 2 weeks in completing CBD coldwater extraction purchase orders. We have new interest from commercial players in the CBD industry who is now seeking quotes. Proscere Bioscience will spearhead the revenue for our company. Our subsidiaries, Satel and our Simlatus broadcast systems, continue to produce revenue as a part of our diversification. All of our companies show extreme promise in growing revenues this year."
The company operates multiple revenue streams in the CBD Industry, Major Broadcast Industry and Internet Provider Industry. Proscere Bioscience manufactures the first commercial industry standard cold-water CBD extraction system for medical grade cannabis utilization, along with their aeroponic commercial grade technology control containers for government food-safety programs, commercial and medical grade CBD. Satel Group is the premier high-rise DirecTV providers in the San Francisco metropolitan area, and is now expanding both DirecTV and Internet services across the SF Bay Area. Simlatus manufactures its own proprietary systems for the major broadcast studios, such as Warner Bros., Fox News, CBS and DirecTV. Its video technology is the major system used for underwater oil exploration in the world.
Safe Harbor for Forward-Looking Statements: This 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