CirTran Successfully Negotiates New Deadlines for Filing Registration Statements
SALT LAKE CITY, January 22, 2007 – CirTran Corporation (OTCBB: CIRT), 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, said his company filed Form 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.
“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 (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. Continuing to grow, in 2004 CirTran formed CirTran-Asia as a high-volume manufacturing arm and wholly owned subsidiary 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.
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