Printer Friendly
The Free Library
19,607,059 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

CirTran Receives Payment from Private Investor Ahead of Schedule.


SALT LAKE CITY -- CirTran Corp. (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 received the second installment in a $2 million private investment and stock purchase agreement from a private California firm ahead of schedule.

A transfer of $200,000 was received Thursday, July 27, "several days ahead of schedule," said Iehab J. Hawatmeh, founder and president of CirTran, a full-service contract manufacturer of IT, consumer and consumer electronics products. The payment from ANAHOP Inc., based in Anaheim, Calif., was due within 30 days of the June 30, 2006 closing of the agreement, when it made its first $300,000 payment.

ANAHOP's most recent investment in CirTran -- $2 million in four tranches -- brings its total commitment to CirTran to $3 million. 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.

--The third tranche -- $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 tranche -- $1 million -- will be due within 60 days after CirTran's stock is listed on one of the above exchanges.

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.

'Relationship Going Strong'

"Our relationship with ANAHOP is going strong," Hawatmeh said. "The ANAHOP group, led by 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
, is committed to our company and our growth in the various market segments where we do business, and has been on-time or ahead of schedule with its investments.

"We look forward to rewarding ANAHOP as we do in working hard on behalf of all of our shareholders," said Hawatmeh.

About CirTran Corp.

Founded in 1993, CirTran Corp. (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 Corp. in 1997. In 2004, it formed CirTran-Asia as a high-volume manufacturing arm and wholly owned subsidiary Wholly Owned Subsidiary

A subsidiary whose parent company owns 100% of its common stock.

Notes:
In other words, the parent company owns the company outright and there are no minority owners.
 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 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.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1USA
Date:Jul 31, 2006
Words:513
Previous Article:Entertainment Software Association Announces Evolution of E3Expo for 2007.
Next Article:Fitch Affirms Bi-State Devel Agency (Missouri-Illinois) 2005A Notes At 'A+/F1+'.



Related Articles
CirTran partners with SVI, receives initial Solectron order.
CirTran Adds $1.24M in Operational Cash, Cuts Interest Payments by 57%.
CirTran Terminates $20 Million SEDA with Cornell Capital, Plans to Withdraw Registration Statement Filed with the SEC.
CirTran Announces $1 Million Investment by Private California Company.
CirTran Receives Second Payment on $1 Million Private Investment, Sets Completion of Evander Holyfield 'Real Deal Grill' Infomercials for Next Week.
CirTran Receives Final Payment on $1 Million Private Investment Ahead of Schedule.
CirTran Announces Additional $2 Million Investment; Warrants-Driven Stock Purchase Agreement Now Totals $3 Million.
CirTran Projects 30% Increase in Sales for Second Quarter.
CirTran Secures $1.5 Million in Financing.
CirTran Gets $1 Million Order for Sold-on-TV Fitness Equipment.

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles