Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 28, 2020, Baron Tennelle and Dusty Vereker resigned as directors of Simlatus Corporation (the "Company"), and from their positions as officers and employees of the Company and its subsidiaries. In connection with their resignations, the Company agreed to issue (i) 52,931 shares of its Series A Preferred Stock to Baron Tennelle in satisfaction of $94,745 of accrued wages and interest owed to him for services to the Company and its subsidiaries, and (ii) 50,615 shares of its Series A Preferred Stock to Dusty Vereker in satisfaction of $90,600 of accrued wages and interest owed to her for services to the Company and its subsidiaries.

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