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Exhibit 10.47
 
NOTICE OF ELECTION TO EXTEND TERM OF LEASE
 
AIR Commercial Real Estate Association
 
Dated:  July 29, 2010
 
By and Between (Lessor)
Crest Development LLC formerly Freeway Ventures LLC
 
And (Lessee)
Simulations Plus, Inc.
 
Address of Premises: 42505 10th Street West, Lancaster, CA 93534

To the Lesser:
 
Notice is hereby given that Lessee irrevocably elects to exercise its option to
extend the term of this Lease by 3 years, ie. from February 3, 2011 to February
2, 2014.
 
Please acknowledge receipt of this Notice in the space provided below and return
a copy to Lessee via Email, or telefax.
 

 
Lessee:
 
Simulations Plus, Inc.

 
BY:  /s/ Momoko Beran                                       
Name Printed: Momoko Beran
Title: CFO

Lessor hereby acknowledges that it received this Notice on Lessor:

Crest Development LLC
 
 
BY: /s/ Gary Shaffer                                       
Name Printed:Gary Shaffer
Title:  Owner