CirTran Management Updates Shareholders on Year to Date Progress for 2006 Operations.
SALT LAKE CITY, September 19, 2006 – CirTran Corporation (OTCBB: CIRT), an international full-service contract manufacturer of IT, consumer and consumer electronics products announces its updates on CirTran Corp. and its group of CirTran companies; CirTran-USA, CirTran-Asia, CirTran Products, and Diverse Media Group.
“CirTran has reached very significant milestones so far this year” said Iehab J. Hawatmeh, President and CEO of CirTran Corp. “All business units continue progress according to our internal strategic plan.”
Overall, the company was successful in the institutional raising of capital which proceeds shall be used to finance existing and upcoming planned projects for all business units within the company. In addition, the company was successful in its acquisition of the assets of one of its largest customers, Advance Beauty Solutions following its filing for bankruptcy in the early part of the year. This acquisition provided CirTran with a known product brand in the beauty products industry and one of the most successful infomercial and marketing campaigns in the industry. The product has seen great success so far and is currently being marketed via TV infomercials and catalogs. Retail sales and distribution channels are being set up to launch first quarter 2007.
The Board of Directors is presently consulting with industry experts and making plans to expand the board to a seven-member team with five outside members. The board is also maintaining its plan and goal to hit additional milestones to enable it to begin its application process to the American Stock Exchange. CirTran has retained an outside consulting firm to assist in the process. Details will be discussed in a later announcement.
The Evander Holyfield “Real Deal Grill™,” said Mr. Hawatmeh, is expected to go into full production shortly. He said changes in the product's design, as requested by a food stylist consultant, have been made in the Read Deal Grill, a year-round indoor consumer electronics product endorsed by Holyfield. Mr. Hawatmeh said he anticipates that filming of the infomercial featuring the four-time heavyweight champion of the world will be filmed in mid-October with full roll out expected in December.
“CirTran's domestic manufacturing operations continue to prosper with such key clients as Flextronics (NASDAQ: FLEX), KLA-Tencor (NASDAQ: KALC), Nortel Canada (NYSE: NT), Auto Meter and DynoJet” said Trevor M. Saliba, Executive Vice President, Worldwide Business Development. “We are very excited about the Radio Bridge Emergency Radio project with Aegis Assessments as we plan to launch into full production in the next few months.”
“CirTran's Asian manufacturing operations continue to grow in all areas including fitness equipment, consumer electronic products and beauty products” Mr. Saliba said. “We are currently manufacturing in excess of 10 programs. In addition, we have expanded our Quality Control systems with the staffing and placement of American born, trained and educated professionals working with English/Chinese trained staff in our ShenZhen office and multiple China factories.”
“CirTran's Diverse Media Group operations continue to stay of track of our internal strategies” said Mr. Saliba, who also serves as Diverse Media Group's President. “With an emphasis on product marketing and manufacturing, short and long-form infomercial production, retail distribution, media financing and talent management concentrating on the entertainment, consumer product and direct response industries; we feel we are the only firm of our kind in the product and entertainment industries.”
Diverse Media Group expansion plans include the previous announce opening of offices in New York to support its overall core business on the East Coast and in Bentonville , Arkansas to serve as the hub for its retail distribution operations. In addition, the company is very close to announcing multiple marketing, production, retail distribution and campaign management contracts.
About CirTran Corporation
Founded in 1993, CirTran Corporation (OTC BB: CIRT, www.CirTran.com) is a premier international full-service contract manufacturer. Headquartered in Salt Lake City, its ISO 9001:2000-certified, non-captive 40,000-square foot manufacturing facility is the largest in the Intermountain 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. In 2004, it formed CirTran-Asia as a high-volume manufacturing arm and wholly-owned subsidiary with its principal office in ShenZhen , China . 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.