Attached files
| file | filename |
|---|---|
| 8-K/A - CIRTRAN CORPORATION FORM 8-K/A MARCH 5, 2010 - CIRTRAN CORP | circ8ka20100305b.htm |
| EX-99.3 - EQUIPMENT LEASE - CIRTRAN CORP | circ8ka20100305bex99-3.htm |
| EX-99.2 - SUBLEASE AGREEMENT - CIRTRAN CORP | circ8ka20100305bex99-2.htm |
| EX-99.1 - ASSIGNMENT AND ASSUMPTION AGREEMENT - CIRTRAN CORP | circ8ka20100305bex99-1.htm |
Exhibit 99.4
For Immediate
Release
Company
Contact:
Iehab J.
Hawatmeh
CirTran
Corporation
+(801)
963-5112
iehab@CirTran.com
The
‘New CirTran’ Will Focus on Areas of Growth and Profitability
SALT LAKE
CITY, March 12, 2010 -- CirTran Corporation (OTCBB: CIRC) said today that it has
successfully transferred its rights and responsibilities to CirTran’s open and
active purchase orders relating to its legacy electronics contract manufacturing
business to new owners who will lease equipment and space, allowing a
slimmed-down CirTran to focus on areas of growth and
profitability.
Iehab J.
Hawatmeh, CirTran’s president and CEO, said the company will concentrate its
“energy, resources and efforts on areas of major growth and maximum profit
potential. The ‘new CirTran’,” he said, “will benefit from having shed the
burden of financing and housing our contract manufacturing business in the U.S.
while we look to grow elsewhere.”
Mr.
Hawatmeh said that CirTran,transferred its rights and responsibilities to the
open and active purchase orders relating to its legacy contract manufacturing
business to Katana Electronics, LLC, a Utah limited liability
company. Katana is headed by Shaher Hawatmeh, the previous COO of
CirTran from 1995 until forming the new company.
CirTran’s
Hawatmeh said Katana has leased some 19,000-square feet of manufacturing space
as well as electronic equipment. In addition, he said Katana is retaining
CirTran employees who worked in the contract manufacturing area, calling it “a
seamless transition for one and all.”
“With
this strategic move, CirTran will reduce costs dramatically while generating
revenue as a landlord and by leasing equipment,” Mr. Hawatmeh
said. “Along with an immediate expected positive impact on our bottom
line, the new CirTran will be better able to focus on areas where we are and can
be most successful.”
‘Growing
What is Already Growing’
CirTran,
Mr. Hawatmeh said, will channel its energies “on growing what is already
growing,” citing in particular the company’s Playboy Energy Drink product line,
consumer products manufactured by CirTran-Asia, and its efforts to develop and
expand its mass merchant retail channels in the U.S.
Playboy
Energy Drink is manufactured and distributed by CirTran Beverage Corp. on behalf
of Play Beverages, LLC, a licensee of Playboy Enterprises International, Inc.,
in conjunction with CirTran Beverage Corporation, a wholly owned subsidiary of
CirTran. Launched through test marketing
campaigns in late 2007, Playboy Energy Drink is available in 8.4- and 16-ounce
sizes in both regular and sugar free, and is available at bars, restaurants and
retail stores in the U.S. as well as in 11 countries in Europe and the Middle
East.
In
addition to expanding beverage sales, CirTran will focus on gaining contract to
manufacture high-volume
electronics, fitness equipment and household products for the
multi-billion dollar sold-on-TV/direct response and online
markets. Mr. Hawatmeh said that the company will also “work to
leverage its relationships with major international retailers to bring a mix of
CirTran products to shelves in the U.S. and around the world.”
About CirTran
Corporation
Founded
in 1993, CirTran Corporation (www.CirTran.com) has
evolved from its roots as an international, full-service contract manufacturer.
Today, CirTran’s operations include: CirTran Beverage, which has partnered with
Play Beverages, LLC to introduce and distribute the Playboy Energy Drink;
CirTran-Asia, a subsidiary with principal offices in ShenZhen, China, which
manufactures high-volume electronics, fitness equipment, and household products
for the multi-billion-dollar direct response industry, and CirTran Online, which
offers products directly to consumers through major retail web
sites.
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. CirTran disclaims any obligation or intention to update
any forward-looking statement.
All
trademarks are properties of their respective owners.