CirTran Wins $30 Million Contract to Build Sold-on-TV New Fitness Machine Thursday April 28, 8:30 am ET New 'Exclusive Manufacturer' Contracts Won by CirTran-Asia Now Total $60 Million
SALT LAKE CITY--(BUSINESS WIRE)--April 28, 2005--CirTran Corp. (OTCBB: CIRT - News) announced today that it has been awarded a $30 million contract to be the exclusive manufacturer of a new fitness machine for the sold-on-TV direct response industry.
Trevor M. Saliba, CirTran's executive vice president for worldwide sales, said the agreement is the "third major new exclusive manufacturer contract" for CirTran-Asia, the company's wholly owned subsidiary based in China, in the first four months of 2005.
Saliba said that the total of the new manufacturing contracts won by CirTran is approximately $60 million (annualized).
In January, CirTran-Asia received a contract from E. Mishan & Sons Inc., of New York, to be the exclusive manufacturer of the Hot Dog Express, and in February it contracted with Advanced Beauty Solutions, LLC, of Los Angeles, to be the exclusive manufacturer of the "True Ceramic Pro - Flat Iron Traveling Kit." Both products are currently being sold on nationwide TV via infomercials.
Saliba said that by mid-summer the manufacturing of the new fitness machine, the Hot Dog Express and the True Ceramic Pro - Flat Iron Traveling Kit could generate as much as $6 million per month in revenue to CirTran.
Recognition Direct Response Business
"Winning business from major direct response TV marketers is great validation of the quality products manufactured by the CirTran organization," he said.
"These companies from whom CirTran has won business are world-class and worldwide," said Saliba. "They have a choice -- in fact many choices -- when it comes to finding manufacturing partners. We have won business because we have demonstrated that at CirTran and CirTran-Asia quality and quantity go hand-in-hand. Our CirTran-Asia operations, headed by Charles Ho, have turned prospects into customers when they've traveled to China to see our production line turning out quality products, 24 hours a day, seven days a week."
Leading to a Record Quarter
Saliba credited the new business won by CirTran-Asia and a steady increase in contracts won by the company's Salt Lake City facility for a record first quarter.
CirTran will report record sales of approximately $2.93 million, up 353% over the $645,612 reported for the first quarter of fiscal 2004, when it files a 10-Q with the SEC next month, he said.
About CirTran Corp.
Founded in 1993, CirTran Corp. (www.CirTran.com) is a premier international full-service contract manufacturer of low- to mid-sized volume contracts for printed circuit board assemblies, cables and harnesses to the most exacting specifications. Headquartered in Salt Lake City, CirTran's modern 40,000-square-foot non-captive manufacturing facility -- the largest in the Intermountain Region -- provides "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.
About CirTran-Asia
CirTran-Asia (www.CirTran-Asia.com) was formed in 2004 as a high-volume manufacturing arm and wholly owned subsidiary of CirTran Corp. 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 being a leading manufacturer for the multibillion-dollar direct response industry, which sells through infomercials, print and Internet advertisements.
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. Contact:
CirTran Corp., Salt Lake City Trevor M. Saliba, 801-963-5112 trevor@cirtran.com or The Kaminer Group (Press) David A. Kaminer, 914-684-1934 dkaminer@kamgrp.com
Posted by rromeo39 on :
This should be huge today .. Major $$$ in contract.
Vol flying already. 04 x 041
Posted by TTmaster99 on :
I would stay away from this one...
Posted by clbgroove on :
yeah i was in this one too and it never seemed to move and usally went down on good news...luckily I got out a few months back when it hit.043 and made a huge .001....WOW..guess its better than losing.043 huh!!!
Posted by TTmaster99 on :
it went down on a good news and made me lost 800 bux... *******... Damn chinese ppl...
Posted by rromeo39 on :
Well that sucks.. I thought this news was pretty good.
Posted by TTmaster99 on :
LOL, look at the scam out of it... a $30mil contract on a OTCBB stock!... OTCBB, when ure dealing with 5mil or 8mil, it's believable... but 30mil, that's obvious bull****s
Posted by Goodones on :
After some DD this 30 million contract ck out to be true. Once this is realized pps should fly.
Posted by stockvaper on :
Goodones, I think the Company and contract are 'legit', but according to Pink Sheets, they have over 399 million shares outstanding. That's alot of dilution of any earnings.
Posted by chadsly on :
quote:Originally posted by stockvaper: Goodones, I think the Company and contract are 'legit', but according to Pink Sheets, they have over 399 million shares outstanding. That's alot of dilution of any earnings.
Are you kidding? That's $.075 per share.
Posted by stockvaper on :
I was looking at $30M bringing them a 10% or so net profit. That's $3M over 339M or .0075 per share or so. I look at a stocks relative worth as net profit/# O/S shares * 5 (or Industry Std). That makes the stock (to me) worth .04 or .05...just about where it's at. IMO.
Posted by chadsly on :
quote:Originally posted by stockvaper: I was looking at $30M bringing them a 10% or so net profit. That's $3M over 339M or .0075 per share or so. I look at a stocks relative worth as net profit/# O/S shares * 5 (or Industry Std). That makes the stock (to me) worth .04 or .05...just about where it's at. IMO.
Excellent insight. Thank you. I definitely missed that.
Posted by stockvaper on :
Chadsly, take a look at TLNO. If you go to their website, look at their news posted Jan. 18, 2005 (Projected 2005 Revenues), They have less than 40M O/S shares. Then look at the price of the stock. Now that's undervalued.
Posted by imakmony2005 on :