CirTran Carries Success into 2006 with New $22 Million Exclusive Manufacturing Contract.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 ), an international full-service contract manufacturer of IT, consumer and consumer electronics products which won more than $80 million in contracts from the direct response/sold-on-TV industry in 2005, has won its first contract of the new year. Trevor M. Saliba, CirTran's executive vice president for worldwide business development, said Arrowhead arrowhead, any plant of the genus Sagittaria, widely distributed marsh or aquatic herbs of the primitive family Alismataceae (water-plantain family). The name derives from the arrowhead-shaped leaves of many species. Industries, Inc., of Windermere, Florida Windermere is a town in Orange County, Florida, in the United States. As of the 2000 census, the town population was 1,897. According to the U.S. Census Bureau's 2006 estimates, the town had a population of 2,019. , has awarded an exclusive contract to CirTran to manufacture its patented Hinge hinge n. A jointed or flexible device that allows the turning or pivoting of a part, such as a door or lid, on a stationary frame. hinge see hinge joint. Helper (TM) do-it-yourself utility tool. Mr. Saliba said the Hinge Helper will be manufactured by CirTran-Asia, the company's China-based subsidiary, and that the exclusive manufacturing contract is for three years. He said Arrowhead is currently filming an infomercial in·fo·mer·cial also in·for·mer·cial n. A relatively long commercial in the format of a television program. [info(rmation) + (com)mercial.] Noun 1. for Hinge Helper, which is expected to begin airing in early March. "In less than 12 months, CirTran has won more than $100 million in new and exclusive manufacturing contracts from the direct response industry," Mr. Saliba said. "CirTran-Asia, which we founded in 2004, continues to emerge as a major force in the industry." Arrowhead's President Eric R. Koeser said his company chose CirTran, "based on its reputation for building quality products to exact specifications, and its ability to deliver on-time and on-budget. "Arrowhead is very excited about the market potential of the Hinge Helper," he said, "and believes it will become a top selling product in 2006 and beyond. We are confident that CirTran will deliver a quality product that provides our customers with a lifetime guarantee on a new and innovative hand tool." For Household and Trade Use The Hinge Helper is a unique hand tool designed and developed for use by household customers as well as tradesmen. Recognized by the U.S. Patent Office (#6,308,390 B1), its trademark and patent are owned by and registered to Arrowhead. "The specific advantage of the Hinge Helper is its ease-of-use and simplistic sim·plism n. The tendency to oversimplify an issue or a problem by ignoring complexities or complications. [French simplisme, from simple, simple, from Old French; see simple design," said Mr. Koeser. "It can be applied to any residential hinge on Verb 1. hinge on - be contingent on; "The outcomes rides on the results of the election"; "Your grade will depends on your homework" depend on, depend upon, devolve on, hinge upon, turn on, ride wood, metal or composite doors, and is being made with highly-durable materials, enabling it to carry a lifetime guarantee." The Hinge Helper will be available starting late in the first quarter, and be sold through 60- and 90-second infomercials airing in all 371 national TV markets. CirTran Announces New Financing CirTran also announced that it has signed a financing agreement with Cornell Cornell named after New York State Veterinary College at Cornell University, NY, USA. Cornell alternative-month accelerated lambing system enables each ewe to lamb three times in every 2 years. Capital Partners for a 5% secured convertible debenture Convertible Debenture Any type of debenture that can be converted into some other security. Notes: For example, a convertible bond can be converted into stock. in the principal amount of $1.5 million, due July 30, 2008. CirTran filed Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. with the Securities and Exchange Commission concerning the filing on January 6, 2006. "CirTran was profitable for the last two quarters reported, significantly improving our position in the viewpoint of the financial marketplace," said Iehab J. Hawatmeh, its founder and president. "Now," he said, "companies such as Cornell must compete to win our business. This is very beneficial to CirTran in getting us funding at more competitive rates." Mr. Hawatmeh said CirTran will use the net funds of $1.37 million (after commitment and structuring fees) to fund tooling for new and existing projects in China and at its home facility in Salt Lake City. CirTran, he stressed, has the option of paying Cornell in cash or in shares - "whatever is most beneficial to the company and our shareholders" - over the course of the agreement. About CirTran Corporation Founded in 1993, CirTran Corporation (OTCBB:CIRT) (www.CirTran.com) is a premier international full-service contract manufacturer of low to mid size volume contracts for printed circuit board assemblies, cables and harnesses to the most exacting specifications. Headquartered in Salt Lake City, CirTran's modern 40,000-square foot non-captive manufacturing facility - 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 - provides "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. About CirTran-Asia CirTran-Asia (www.CirTran-Asia.com) was formed in 2004 as a high-volume manufacturing arm and wholly-owned subsidiary of CirTran Corporation 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 being a leading manufacturer for the multi-billion dollar Direct Response Industry, which sells through infomercials, print and internet advertisements. 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. Hinge Helper is a registered trademark of Arrowhead Industries, Inc. |
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