SOURCE: Simlatus Corporation

Simlatus Corporation

April 26, 2016 15:25 ET

Simlatus Corporation Announces New SyncPal Deliveries in 2017

The Company Retires Convertible Note and Retires More Than 500M Shares

GRASS VALLEY, CA--(Marketwired - Apr 26, 2016) - Simlatus Corporation (OTC PINK: SIML) -- has recently announced the 'Settlement Agreement' with Blackbridge Capital, LLC in an 8-K filed earlier today, as well as the official introduction of its new SyncPal product for the broadcast industry. 

The company filed an 8K today detailing the 'Settlement Agreement' with Blackbridge Capital, LLC and the removal of toxic debt sitting on its balance sheet. The company reduced the Blackbridge share conversions from 729,955,556 to 200,000,000. This is a reduction of more than 300% which represents a value of more than $50,000 in dilution into the market.

Gary B. Tilden, CEO, stated, "We have removed all of the toxic debt off of our books since our new management was appointed on March 20, 2016. This will be reflective in our next audited 10-K filing ending March 31, 2016."

Mr. Tilden further stated, "Our commercial broadcast products that have been sold over the past 15 years are still used today by some of the major networks in the world, to include, CBS, NBC, ABC, FOX, ESPN and DirecTV. They have been asking for our SyncPal and we plan to make deliveries in 2017. With over 10,000 TV Broadcast Stations in the USA alone, according to the FCC's 2013 census, our SyncPal is priced to move at a low cost of $3,299. We are targeting 30% of our major customers who already own some of our products and this opens a new revenue stream of nearly $30M for 2017-2018. We expect our global distributors to target Europe, Asia, South America, Canada, Mexico and Australia which would be an additional revenue stream for the company. Today we sell more than 50 different high-quality commercial products for major broadcast studios. We are proud of our product line and the customers who represent our product line."

Simlatus has designed and is preparing for deliveries in 2017 for the SyncPal. This product is a result of a phenomenon that can occur in television broadcasting called "out of lip-sync." This happens when the sound of the announcer's voice reaches your ears before the movement of his lips reaches your eyes. This can be corrected by adjusting the delay of the sound until the voice and lip movement are "in sync." In High-Definition broadcasting, a majority of times the audio signal is embedded (or buried) into the video signal for transmission between the originating source and the TV station. Multiple signal processing of the video portion of the combined signals can cause this video delay. The Simlatus' SyncPal has been specifically designed to allow the broadcaster to make this video-to-audio adjustment. At the input to the unit, the audio is decoded from the video, manually adjusted up to a maximum of 49.9 frames of delay in increments of 0.1 frames using the selector adjustments on the front panel of the unit, and then re-encoded back into the composite signal. The unit will simultaneously delay up to 16 channels of audio (in 4 groups). No processing of the video signal occurs. The SyncPal unit is housed in a 6 1/2"x5"x1 1/2" aluminum enclosure and is powered by an external 5VDC source. It can be positioned alone, or mounted in an optional RT-2, 19" rack mounting tray. The Video Input 800mV Peak-Peak, Cable Equalization 120 Meters at 3Ghz, Input impedance is 75 ohms coaxial, Video Formats are SMPTE 425M (2.97Gb/s), 292M (1.485Gb/s), 259M (270Mb/s), the Number of Outputs are 2, the Video Output 800mV Peak-Peak and the Delay resolution is 0.1 frames.

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.

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