UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): May 20, 2016

Simlatus Corp.
(Exact name of Company as specified in its charter)

     
     
Nevada
000-53276
20-2675800
(State or other jurisdiction
(Commission File Number)
(IRS Employer
of Incorporation)
 
Identification Number)
     
 
175 Joerschke Dr., Suite A
Grass Valley, CA 95945
 
 
(Address of principal executive offices)
 
 
 
Phone: (530) 205-3437
 
 
(Company ’ s Telephone Number)
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Company under any of the following provisions:

[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ]Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
ITEM 8.01 Other Information

Effective as of May 19, 2016, the Board of Directors of the Company has finalized an agreement with Direct Capital Group Inc., to extinguish the following notes in total value of $1,685,842;
 
   
Original
     
Current
   
Principal
   
P & I
 
   
Principal
 
Original
 
Interest
   
Balance
   
Balance
 
Payee
 
Amount
 
Date
 
Rate
   
19/03/2016
   
19/03/2016
 
Direct Capital Group
    80,000  
02/29/16
    8.00 %     80,000.00     $ 81,298.00  
Direct Capital Group
    80,000  
01/31/16
    8.00 %     80,000.00     $ 81,806.00  
Direct Capital Group
    80,000  
12/31/15
    8.00 %     80,000.00     $ 82,350.00  
Direct Capital Group
    80,000  
11/30/15
    8.00 %     80,000.00     $ 82,893.00  
Direct Capital Group
    80,000  
10/31/15
    8.00 %     80,000.00     $ 83,818.00  
Direct Capital Group
    240,000  
03/31/15
    8.00 %     24,000.00     $ 282,319.00  
Direct Capital Group
    360,000  
01/01/15
    8.00 %     360,000.00     $ 423,204.00  
Direct Capital Group
    48,000  
10/31/14
    8.00 %     45,157.00     $ 49,572.00  
Direct Capital Group
    360,000  
10/01/14
    22.00 %     360,000.00     $ 463,029.00  
Direct Capital Group
    48,000  
07/31/14
    22.00 %     -     $ 8,919.00  
Direct Capital Group
    48,000  
04/30/14
    22.00 %     23,000.00     $ 38,060.00  
Direct Capital Group
    16,000  
02/28/14
    22.00 %     -     $ 3,561.00  
Direct Capital Group
    16,000  
01/31/14
    22.00 %     -     $ -  
Direct Capital Group
    16,000  
12/31/13
    22.00 %     -     $ -  
Direct Capital Group
    16,000  
11/30/13
    22.00 %     -     $ -  
Direct Capital Group
    16,000  
10/31/13
    22.00 %     -     $ -  
Direct Capital Group
    11,000  
08/31/13
    22.00 %     -     $ -  
Direct Capital Group
    14,072  
07/31/13
    22.00 %     72.00     $ 5,013.00  
Direct Capital Group
    11,000  
07/31/13
    22.00 %     -     $ -  
                                   
TOTALS
  $ 1,620,072.35               $ 1,212,229.00     $ 1,685,842.00  

ITEM 9.0 Financial Statements and Exhibits

INDEX TO EXHIBITS
 
Exhibit No
Description
10.1
Board Resolution and Exhibits dated May 19, 2016
10.2
Agreement between SIML and Direct Capital Group Inc. dated May 19, 2016
 
 
SIGNATURES
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
Date: May 20, 2016
 
 
Simlatus Corporation
 
By: /s/Gary B. Tilden
Gary B. Tilden, CEO and Secretary