CirTran Shareholders to Get 20% Stock 'Increase'.Shareholders of Record as of May 10, 2007, Will Receive the Increase 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 its shareholders, in a special meeting to vote on a proposed amendment to the company's articles of incorporation The document that must be filed with an appropriate government agency, commonly the office of the Secretary of State, if the owners of a business want it to be given legal recognition as a corporation. , have voted "overwhelmingly" in favor of a 1.2 forward stock split. CirTran shareholders of record as of May 10, 2007, will receive a 20% increase in the number of shares owned, said Iehab J. Hawatmeh, founder, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the international full-service contract manufacturer of IT, consumer and consumer electronics products. Mr. Hawatmeh said that the shareholders were "enthusiastic and overwhelming in their support" for the company to increase its authorized capital authorized capital n (COMM) → capital m autorizado or social authorized capital n (Comm) → capital social by 750 million shares of common stock and to effectuate ef·fec·tu·ate tr.v. ef·fec·tu·at·ed, ef·fec·tu·at·ing, ef·fec·tu·ates To bring about; effect. [Medieval Latin effectu a 1.2 shares for one share forward split. The vote, he said, was 542,969,370 for the forward split and 14,725,706 against, with 187,715 shares abstaining and no broker non-votes. "CirTran management is delighted to boost our shareholders' stock ownership through this 1.2 shares for 1 share forward split," Mr. Hawatmeh said. "We salute the loyalty and patience of our shareholders, and believe they will benefit in the short term and long run from this increase in ownership." Mr. Hawatmeh said that CirTran remains on track to report sales of approximately $3.7 million for the first quarter of fiscal 2007, ended March 31, 2007, an increase of approximately $2 million, or 114%, over the first quarter of fiscal 2006. 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. Continuing to grow, in 2004 CirTran 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. Today, 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. |
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