Simulations Plus, Inc. (�Simulations Plus� or the �Company,� �us,� �we,� or
�our�), which was incorporated in 1996, develops and produces software for use
in pharmaceutical research and for education, as well as provides consulting and
contract research services to the pharmaceutical industry. Words+, founded in
1981, produced computer software and specialized hardware for use by persons
with disabilities. The Words+ subsidiary was sold effective November 30, 2011,
and is treated as �discontinued operations� in the financial statements. This
discussion will therefore focus on the ongoing operations for pharmaceutical
software and services.
We currently offer five software products for pharmaceutical research: ADMET
Predictor�, MedChem Designer�, MedChem Studio�, DDDPlus�, and GastroPlus�. A
sixth product, MembranePlus�, is well along in development with testing and
validation studies under way. We plan to release MembranePlus� by March 2014.