GRASS VALLEY, CA--(Marketwired - May 6, 2016) - Simlatus Corporation (
Gary B. Tilden, Chief Executive Officer, stated, "Simlatus is focused on the development of software products for delivery in 2017. These products are targeted to enhance our major client portfolio, and enter a mass consumer market that is the driving force behind the upcoming virtual reality (V/R) and augmented reality (A/R) markets. As the months unfold, we will keep our public supporters and shareholders informed of the development in these new products. Simlatus is geographically a part of the digital media hub of the world, with relationships in Silicon Valley and several leading high tech companies that currently dominate the reality software and hardware markets."
Mr. Tilden further stated, "Specifically, our R&D team has identified that the two areas of new product support will include digital and cloud enhancements to our existing broadcast products, and entering the Ap-Purchasing product market with high-profile A/R and V/R products to support various hardware products such as the new Virtual Reality Glasses starting to flood the market."
The company has been in communication with Fiber Group, our distributor in North and South Carolina, regarding a purchase order for 40 broadcast units. Fiber Group received a pre-production deposit from its customer earlier this week, and has notified us that they will be forwarding the deposit and purchase order no later than Monday. The company will make an announcement once these items are received.
Mike Schatz, COO, stated, "We receive requests for quotes and purchase orders on a routine basis. The company does not intend to announce each and every transaction moving forward, but we did want to allow the public and our shareholders the experience of a transaction with our commercial based broadcast product market. The Fiber Group transaction is tied to an end-user contract that could lead to more business in the future."
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.