CirTran CEO Sees ‘No Reason or Rationale' for Recent Dip in Stock Price
SALT LAKE CITY, June 12, 2006 – Iehab J. Hawatmeh, founder, president and CEO of CirTran Corporation (OTC BB: CIRC), an international full-service contract manufacturer of IT, consumer and consumer electronics products, said today that he and other members of senior management at the company see “no reason or rationale” for the recent drop in the company's price per share.
“We simply don't know why there was a drop in the share price over the last few days,” Mr. Hawatmeh said. “While senior management were disappointed in our first quarter results, all indications are that when the current quarter is over on June 30, we will have made important strides in sales and in net results.”
“Right now,” Mr. Hawatmeh said, “CirTran is completing a very busy quarter and productive quarter, moving ahead in our operations in the U.S. and in China . We have signed several new exclusive manufacturing and marketing agreements, and are on the verge of other announcements. With activities at a high tempo, we simply don't know why there would be a drop in our share price.”
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.
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