Simlatus CEO Discusses 2017 Projected Revenues With Virtual Reality Product
CEO States a Potential $1B in Revenue Where Share Holders Would Decide on Any Future Buy-Out Acquisition
(firmenpresse) - GRASS VALLEY, CA -- (Marketwired) -- 03/07/17 -- Simlatus Corporation (OTC PINK: SIML) -- announces today the release of its CEO Podcast interview with Uptick Newswire's host Everett Jolly. The broadcast industry is a changing organism of technology, and Simlatus has left its footprints with the industry's major studios like CBS, FOX, NBC, ABC, ESPN and DirecTV over the past 18 years.
The company's Chief Executive Officer discussed the 2017 roll-out for another innovative commercial broadcast product referred to as SyncPal. Gary Tilden stated, "The SyncPal has a target of 10,000 studios in the USA alone. These studios have embedded audio/video sync problems once in a while, and our SyncPal is a solution. The potential revenue is approximately $30M, and to date we see little competition. More important is that we already have positive relationships with these studios, and they will be responsive to our cost effective solution to improve the quality of their program."
Everett Jolly with Uptick Newswire had asked Mr. Tilden why the stock was so undervalued. Mr. Tilden replied, "With our experienced management and leadership, we will launch these products in 2017, and in turn, it will enhance 15 of our older products because we will allow them to be updated with UHD digital technology and internet access via an immersive application. In the past nine months ending December-2016, we have secured $5,000,000 in funding to complete and bring to market our newest products, while decreasing our total liabilities by $5.4M; all while keeping our shareholders informed along the way. We have reduced total operating expenditures by over $1M. We have strong tangible assets, and this will drive us into the New York Stock Exchange in the next 24 months."
Towards the end of the podcast Interview, Mr. Everett Jolly asked the CEO if this proprietary technology would be an acquisition play with a larger company. Mr. Tilden stated the following: "It will be up to our shareholders to decide to allow a larger company to acquire Simlatus, but it's always a nice decision to have on your plate. Our IBS system will have a commercial application, and a consumer application. If we are going to go through the expense in developing this product for commercial users, we want to allow consumers access to an app that will allow them to build their own studio and provide their own private programming using their smart-phone camera and video recording. It will be fun, and Simlatus anticipates a $1B revenue stream through this product."
:
Simlatus Corporation designs, manufactures and sells commercial audio and video broadcast equipment worldwide. The company has a current expanding revenue base in the broadcast industry with long-term national and international distribution. Our customers include large broadcast giants such as CBS, NBC, ABC, FOX, ESPN and DIRECTV, as well as many smaller broadcast customers, which include religious facilities, international broadcast facilities, colleges, and radio stations. The new Simlatus-IBS™ will allow the company to capitalize in the $150B growing industry of augmented/virtual reality.
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.
Contact:
Tom Nelson
1-480-326-8577
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 07.03.2017 - 14:00 Uhr
Sprache: Deutsch
News-ID 528661
Anzahl Zeichen: 0
contact information:
Town:
GRASS VALLEY, CA
Kategorie:
Diese Pressemitteilung wurde bisher 162 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Simlatus CEO Discusses 2017 Projected Revenues With Virtual Reality Product"
steht unter der journalistisch-redaktionellen Verantwortung von
Simlatus Corporation (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
