CirTran Announces Additional $2 Million Investment; Warrants-Driven Stock Purchase Agreement Now Totals $3 Million.SALT LAKE CITY -- CirTran Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CIRT CIRT Computer Incident Response Team CIRT Critical Incident Response Team CIRT Camara Nacional de La Industria de Radio y Television (Mexican Association of Broadcasters) CIRT Central Institute of Road Transport ) announced today that it has signed and received the first payment on a stock purchase agreement for an additional $2 million investment by a private California firm, which invested $1 million in the company in May. Iehab J. Hawatmeh, founder and president of CirTran, a full-service contract manufacturer of IT, consumer and consumer electronics products, said ANAHOP, Inc., based in Anaheim, California “Anaheim” redirects here. For Annaheim, see Annaheim, Saskatchewan. Anaheim is a city in Orange County, California, located 28 miles southeast of Los Angeles. , will invest $2 million more -- in separate tranches -- in the company. He said ANAHOP has contracted to purchase CirTran restricted common stock for $.07 per share without any registration rights, and will also receive warrants to purchase up to an additional 63 million shares, which principals of both companies called "the key to the investment." -- The initial payment of $300,000 was received by CirTran on June 30, 2006, at the closing of the agreement; -- The second payment of $200,000 is due within 30 days from closing; -- The third payment of $500,000 is due within 30 days of CirTran's stock being listed for trading on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on (R) Small Cap Market, the NASDAQ Capital Market Originally called the NASDAQ Small Cap Market, NASDAQ announced a name change to the NASDAQ Capital Market on September 27, 2005. [1] The NASDAQ Capital Market exists for securities of smaller, less-capitalized companies (small caps) that do not qualify for , the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. (R), or the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (R); -- The fourth/final payment of $1 million will be due within 60 days after CirTran's stock is listed on one of the above exchanges. -- In addition, ANAHOP will receive warrants to purchase up to an additional 63 million shares; 30 million exercisable at $.15 per share; 10 million exercisable at $.25 per share; and 23 million exercisable at $.50 per share. ANAHOP's initial investment of $1 million in CirTran restricted common stock, which started at the end of May, was completed ahead of schedule on June 15, and also included warrants to purchase up to 30 million shares. 'Banking on a Bright Future for CirTran' "Every public company seeks investors who believe in its business plan and ability to achieve fiscal goals and success over the long-term," Mr. Hawatmeh said. "It is clear from both the purchase of shares at more than double our current market price, and the issuance of more than 90 million warrants overall, that ANAHOP is banking on what it sees as a very bright future for CirTran." Commenting on the $3 million overall investment in CirTran made by his group, Albert Hagar Albert Hagar (1827 – September 14 1924) was a Canadian merchant and politician. Born in North Plantagenet Township, Upper Canada (now Ontario), the son of a former Montreal merchant, he was educated in Vermont and became a farmer, merchant and lumber dealer and owned a , president of ANAHOP, said, "Our research and due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. have shown that the senior management team led by Iehab Hawatmeh, Trevor Saliba, Charles Ho, and the entire CirTran organization, to be on-track to achieve its business and financial goals." Fadi Nora, an ANAHOP principal, said that "there was a clear reason that we purchased stock at a higher-than-market price... in fact, more than double the going market price. "We believe in CirTran," he said, "and are banking on its future growth and profitability. The warrants were the key to the investment. Our hope and belief is that, along with all CirTran shareholders, we will share in the Company's success and earn a substantial return on our investment." About CirTran Corporation Founded in 1993, CirTran Corporation (OTCBB:CIRT) (www.CirTran.com) is a premier international full-service contract manufacturer. Headquartered in Salt Lake City, its ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001:2000-certified, non-captive 40,000-square foot manufacturing facility is the largest in the Intermountain in·ter·moun·tain adj. Located between mountains or mountain systems, especially lying between the Rocky Mountains and the Sierra Nevada or Cascade Range in the western United States. Region, providing "just-in-time" inventory management techniques designed to minimize an OEM's investment in component inventories, personnel and related facilities while reducing costs and ensuring speedy time-to-market. In 1998, CirTran acquired Racore Technology (www.racore.com), founded in 1983 and reorganized as Racore Technology Corporation in 1997. In 2004, it formed CirTran-Asia as a high-volume manufacturing arm and wholly-owned subsidiary with its principal office in ShenZhen, China. CirTran-Asia operates in three primary business segments: high-volume electronics, fitness equipment, and household products manufacturing, focusing on the multi-billion dollar Direct Response Industry. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement. All trademarks are properties of their respective owners. |
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