CirTran Updates Shareholders on Recent Events.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 ) 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. Iehab J. Hawatmeh, today issued the following corporate update: We have received many inquiries from concerned shareholders in regard to the recent drop in the company's share price. To date, Management is unaware of any activity or event that can be connected with the recent drop in the company's share price. However, we are pleased to update all shareholders of the following: "We will be pre-announcing our third quarter revenue results some time today. "Our Domestic Low/Mid Volume Electronics Manufacturing This article presents a typical manufacturing process of an electronic assembly. Component manufacturing Components such as resistors, capacitors and integrated circuits are generally made by specialized contractors. Division has done well so far this year compared to 2003 and we anticipate the growth to continue in both customer base and revenue. We are currently negotiating to secure a two-year contract with one of our current customers where the company will be providing complete 'Box-Build' systems. The details of this contract will be announced upon contract execution. "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 business segments; 1 -- The electronics manufacturing services Electronic manufacturing services (EMS) is term used for companies that design, test, manufacture, distribute and provide return/repair services for electronic component and assemblies for original equipment manufacturers (OEMs). segment (same as its parent company only on hi-volume basis): --The company is very close to securing an initial order for a proprietary finer optic device that will be distributed to households throughout China. The company has already built multiple proto-types and test units for this customer. The company will be providing this product on a complete "Box-Build" basis. The details of this contract will be announced upon contract execution. 2 -- The direct consumer products segment DCP DCP - definitional constraint programming (household products): --This business segment deals with the hi-volume household appliance manufacturing. This business segment is a vital part of the structure since it can contribute greatly to our future revenue based on our current sales forecasts Sales forecast A key input to a firm's financial planning process. External sales forecasts are based on historical experience, statistical analysis, and consideration of various macroeconomic factors. . The company is in final stages of getting a final release to start manufacturing and shipping the electric home appliance units announced in an earlier press release. The details will be announced upon the release of the orders. 3 -- The fitness products segment (exercise machines): --This segment of our division has been the larger contributor to our increased revenues so far this year and we anticipate this segment to continue to grow. We have been shipping many of the products that were announced in earlier contract wins. Also, the company is very close to receiving two new contract wins for two separate fitness machines from two of the leading marketing firms in the Direct Response industry. The details of these two new contracts will be announced upon contract execution. "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 (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: 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. About Racore Technology Corporation Racore Technology Corporation was founded in 1983 and acquired 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. About CirTran-Asia, Inc. CirTran-Asia was formed in 2004 to serve as the "hi-volume" manufacturing arm for CirTran Corporation. CirTran-Asia's principle office is located in SHenZhen, China and its domestic presence is maintained at the company's world headquarters in Salt Lake City, UT. The company operates in three primary business segments; hi-volume electronics, fitness equipment and household products manufacturing. The company is quickly establishing itself as a leading manufacturing solutions provider to the Direct Response, a multi-billion dollar industry where products are sold through infomercials, print and internet advertisements. For more information, please visit CirTran-Asia's website at www.cirtran-asia.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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