CirTran Ships First Order on $5.4 Million Contract for Sold-on-TV Fitness Equipment.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 shipped the first order completed against a $5.4 million exclusive manufacturing contract it signed late last year to build the CorEvolution[TM], new fitness product for the sold-on-TV market www.mycorevolution.com. Iehab J. Hawatmeh, 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 CirTran, an international full-service contract manufacturer, marketer and distributor of IT, consumer and consumer electronics products, said the shipment of approximately $60,000 in product, "is a good sign that the initial testing of the infomercial and the CorEvolution now underway is positive." The contract with Evolve Projects, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , of Akron, Ohio Akron is a city in the U.S. state of Ohio and the county seat of Summit County.GR6 The municipality is located in northeastern Ohio on the Cuyahoga River between Cleveland to the north and Canton to the south, approximately 60 miles (96 km) west of was signed by CirTran in December for the CorEvolution, which Mr. Hawatmeh described as a fitness product designed to strengthen and rehabilitate re·ha·bil·i·tate v. 1. To restore to good health or useful life, as through therapy and education. 2. To restore to good condition, operation, or capacity. the lower back and adjacent areas of the body. The first production units were manufactured by CirTran in China after final changes were approved by Evolve, who will oversee the on-TV marketing of the product. Matthew A. Heinle, an Evolve principal, approved the first shipment from China, and said that his company "is excited about the prospects for the CorEvolution. CirTran is delivering high quality product we believe will prove to be very popular among consumers looking to get in better shape, particular as the warm weather months approach." Mr. Hawatmeh said that the order now in route to the U.S. is part of a first year commitment of $1.2 million against the contract. He said the agreement calls for minimum orders of $1.8 million in the second year and $2.4 million in the third year as part of the five-year agreement. "Test marketing and focus groups indicated that the CorEvolution fits well into the current physical fitness boom," Mr. Hawatmeh said. "Getting the product into the pipeline via TV infomercials now is a key to its early success as people look to tone their bodies and get ready for the summer." 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 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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