CirTran Successfully Negotiates New Deadlines for Filing Registration Statements.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, said today that it has successfully negotiated new deadlines for filing registration statements. Iehab J. Hawatmeh, CirTran's 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. , said his company 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 on Friday, January 19, 2007, detailing the amended agreements with Cornell Capital Partners, LP of Jersey City, N.J. The agreement extended the deadline for CirTran to file registration statements for shares of its common stock issuable to Cornell from December 31, 2006 to June 1, 2007. The agreements originated on December 30, 2005, most recently amended on October 30, 2006, and August 23, 2006, amended October 30, 2006. Each agreement is for $1,500,000, with CirTran common stock issuable to Cornell upon conversion of convertible debentures 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. . "The understanding and cooperation of Cornell Capital in agreeing to filing extensions is very much appreciated," said Mr. Hawatmeh, "and allows CirTran to continue to move forward with implementation of our strategic plan in this new fiscal year." 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. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion