CirTran Updates Shareholders on 2004 Year to Date Operations.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 ), Chairman 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. Iehab J. Hawatmeh, today issued the following corporate update: "In the next few days we will be pre-announcing our second quarter revenues, and today we are pleased to provide you with the following corporate update: "This year 2004 has been a pivotal and dynamic year for CirTran Corp. We are very close to completing the restructuring of the company's balance sheet, negotiating and settling most outstanding debt. We have established multiple strategic alliances with our ever growing customer base including our minority investment and exclusive manufacturing agreement with Broadata Communications. We have seen increased interest in our wholly-owned subsidiary Racore Technology Corporation from multiple United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and International Government Agencies. In June of 2004, we formed a new subsidiary, CirTran-Asia, an Asian based manufacturer of various consumer products in the electronics, household products and fitness industries. With these foundations in place, myself and management believe 2004 will end with record revenues and we anticipate that revenue growth to continue in 2005. "Racore Technology Corporation was founded in 1983 and by CirTran Corp. in 1997. Racore was a pioneer in the LAN (Local Area Network) A communications network that serves users within a confined geographical area. The "clients" are the user's workstations typically running Windows, although Mac and Linux clients are also used. arena in the 1980s, Racore helped define Token-Ring as a member of the IEEE (Institute of Electrical and Electronics Engineers, New York, www.ieee.org) A membership organization that includes engineers, scientists and students in electronics and allied fields. 802.5/802.2 committees. The company was one of the first to deliver Token Ring adapters A network adapter used in a Token Ring network. See network adapter. conforming to this new standard, while offering significantly better performance and more economical prices than IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) or other suppliers of compatible products. Today, Racore Technology designs, develops, and markets high performance Local Area Network products with emphasis on Fiber Optics fiber optics, transmission of digitized messages or information by light pulses along hair-thin glass fibers. Each fiber is surrounded by a cladding having a high index of refractance so that the light is internally reflected and travels the length of the fiber , Token-Ring and 10/100 Ethernet technologies to government agencies and private sector companies all over the world. CirTran Corp., Racore's parent company, manufactures all Racore products on a complete "Turn-Key" basis. For more information, please visit Racore's website at www.racore.com. "In June of 2004, the company formed CirTran-Asia, an Asian based hi-volume manufacturing firm. This move has enabled CirTran Corp. (the parent company) to compete globally on hi volume / low cost manufacturing. The company currently has three divisions; --Electronics Manufacturing Services division (same as its parent company only on hi-volume basis), --Direct Consumer Products division DCP DCP - definitional constraint programming (household products), and --Fitness Products Division (exercise machines). "Immediately following its formation, the company signed exclusive manufacturing agreements with three leading marketing firms of Direct Consumer Products and Fitness Equipment. The DCP division currently has two products that have just completed its proto-typing stage and should start shipping worldwide during the third quarter of 2004. The Fitness Division is currently shipping worldwide an abdominal fitness machine known as the "AB KING" and will begin shipping two additional different fitness machines in the third quarter of 2004. The company recently opened a manufacturing office in ShenZhen, China to manage the manufacturing of all CirTran-Asia products and is establishing an additional sales office in Taipei, Taiwan. Mr. Charles Ho was appointed President of this division and Mr. Trevor M. Saliba will serve as Executive Vice President of Worldwide Business Development in addition to his current responsibilities and position at CirTran Corp. The company is anticipating the launch of the CirTran-Asia website by August 15th of 2004. The URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. will be www.cirtran-asia.com. "As we complete 2004 and move into 2005, this is a very exiting period for our shareholders as we continue to build our business into a leading global manufacturing firm of multiple products in multiple industries providing us diversity and increased opportunity all the while hedging risk. "We are all very excited about the opportunities for our company and will continue to update you as more events occur. I would like to thank all of you for your continued support of CirTran." About CirTran Corporation Founded in 1993, CirTran Corporation (OTCBB:CIRT) has established itself as a premier full-service contract electronics manufacturer by building printed circuit board assemblies, cables, and harnesses to the most exacting specifications. CirTran is headquartered in Salt Lake City, Utah For ships of the United States Navy of the same name, see . Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake, or its initials, S.L.C. with a state-of-the-art 40,000 sq. ft. facility. CirTran also provides "just-in-time" inventory management techniques that minimize the OEM's investment in component inventories, personnel and, related facilities, thereby reducing costs and ensuring speedy time-to-market. For further information about CirTran, please visit the Company's website located at www.cirtran.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 and may contain forward-looking statements, with words such as "anticipate," "believe," "expect," "future," "may," "will," "should," "plan," "projected," "intend," and similar expressions to identify forward-looking statements. These statements are based on the company's beliefs and the assumptions it made using information currently available to it. Because these statements reflect the company's current views concerning future events, these statements involve risks, uncertainties and assumptions. The actual results could differ materially from the results discussed in the forward-looking statements. In any event, undue reliance should not be placed on any forward-looking statements, which apply only as of the date of this press release. Accordingly, reference should be made to the company's periodic filings with the Securities and Exchange Commission. |
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