posted
It almost sounds like a cliche but I think it is Naked shorting. The selling pressure is relentless. This company is doing well with lots of revenue and back orders. I am not selling and if they lower it enough I am buying more. This is ridiculous. I hope the MM's get their fannies handed to them by CMKX. The SEC has let this be the wild west of the stock market and we need a new sheriff to fix things around here. If CMKX is successful at financially hurting the Naked short crowd this whole market will change. IMO-GLTY-Debi Posts: 1188 | From: Clinton, MA 01510 | Registered: Jan 2004
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posted
The Navy approved the product... I may buy in future.
2004-06-28 12:23:03
CirTran Recieves Additional Orders for Multiple New Locations of the United States Navy; CirTran's Product to be Installed on Naval Ship Carriers
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High-Tech Writers / Business Editors SALT LAKE CITY--(BUSINESS WIRE)--CIRT-- CirTran Corp. (OTCBB: CIRT), an international full-service contract electronics manufacturer of printed circuit board assemblies, cables and harnesses, today announced that it has received an additional order for its OptiCORE 100FX Fiber Optic M8192 Network Adaptor Card for the United States Navy to be installed in multiple new locations. The order was placed by Dimensional Marketing Inc., a South Carolina-based Business to Government (B2G) firm. The order was placed through CirTran's wholly owned subsidiary, Racore Technology Corp. The Navy has tested and approved the product last October. Racore is projecting continued reorders from the United States Navy and multiple other government agencies. The cards will be installed in multiple government office locations in addition to select naval ship carriers. Trevor M. Saliba, executive vice president of worldwide business development, commented, "We are very proud of the continued interest in Racore's Local Area Network (LAN) products from multiple government agencies and Fortune 500 companies. This contract represents another United States government agency continuing to utilize the advanced technology and high security of Racore's products, which are manufactured by its parent company, CirTran Corp." The company anticipates continued repeat business as multiple government agencies continue to upgrade their network systems. About Racore Technology Corp. Racore was founded in 1983 and reorganized as Racore Technology Corp. in 1997. As a pioneer in the LAN arena in the 1980s, Racore helped define Token-Ring as a member of the IEEE 802.5/802.2 committees. The company was one of the first to deliver Token-Ring adapters conforming to this new standard, while offering significantly better performance and more economical prices than IBM or other suppliers of compatible products. Today, Racore Technology designs, develops, manufactures and markets high-performance local area network products with emphasis on fiber optics, Token-Ring and 10/100 Ethernet technologies. Over the past 15 years, Racore has developed extensive technology to provide high-performance copper and fiber connectivity solutions linking LAN backbones to the desktop. For more information, please visit the company's Web site at www.racore.com. About CirTran Corp. Founded in 1993, CirTran Corp. has established itself as a premier full-service contract electronics manufacturer by building printed circuit board assemblies, cables and harnesses to the most exacting specifications. CirTran is headquartered in Salt Lake City, with a state-of-the-art 40,000 square foot facility. CirTran also provides "just-in-time" inventory management techniques that minimize the OEM's investment in component inventories, personnel and, related facilities, thereby reducing costs and ensuring speedy time to market. For further information about CirTran, please visit the company's Web site located at www.cirtran.com. Safe Harbor Statement Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 and may contain forward-looking statements, with words such as "anticipate," "believe," "expect," "future," "may," "will," "should," "plan," "projected," "intend" and similar expressions to identify forward-looking statements. These statements are based on the company's beliefs and the assumptions it made using information currently available to it. Because these statements reflect the company's current views concerning future events, these statements involve risks, uncertainties and assumptions. The actual results could differ materially from the results discussed in the forward-looking statements. In any event, undue reliance should not be placed on any forward-looking statements, which apply only as of the date of this press release. Accordingly, reference should be made to the company's periodic filings with the Securities and Exchange Commission. KEYWORD: UTAH INDUSTRY KEYWORD: NETWORKING GOVERNMENT HARDWARE GOVERNMENT AEROSPACE/DEFENSE PRODUCT SOURCE: CirTran Corp. CONTACT INFORMATION: CirTran Corp. Trevor M. Saliba, 818-788-2033 http://www.cirtran.com or Equitilink, LLC Ronald L. Garner, 877-788-1940 http://www.equitilinkpr.com
posted
Well, I used to always think the company was diluting shares when the price was tanking on good news. But then the Naked shorting situation got so bad I now assume it is the MM's. I just read the SEC filing from June 17 and the company has a death spiral type financing deal with Cornell Capital. The share price will no doubt continue to slide down IMO. At some point the share price will stabalize and then I will be buying again. This is the same company that did BIBO's financing and they tanked to subpenny from .15 and spiked to .02+ and now are about .01+/-. History does have a way of repeating itself. I would probably sell (I did) and buy back in 31 days or so. Depends on account type. Of course it depends on how many shares and amount of money you have in this. You may be able to average down at the bottom. With BIBO I thought .03 was the bottom. Try not to get faked out on this one. It can get expensive. GLTA-IMO-DD-Debi
Posts: 1188 | From: Clinton, MA 01510 | Registered: Jan 2004
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posted
WWJD thanks for the advice. I just couldn't understand how they can stay at the same price range for so long after months of great PRs and contracts. So are you saying that this will stay in this general range, and possibly drop more, until the mm's get their slap in the face by Roger Glenn and Urban?
Posts: 212 | Registered: Jan 2004
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posted
HarryHar-That is what my first post suggested. My second one is a little sadder I am afraid. Check out BIBO. I bought it at .15. I like the company's clothes and used to buy them when I was younger. Their website is great. Clothes still look great. But the price was steadily declining and you could see the selling pressure on level 2. So after digging around I did some research on their financing. They have Cornell Captial for their financing. Do a google search and look at the companies they have financed and look at the share prices. When I did it they all had tanked BIG! So sure enough BIBO went below a penny. I sold around .05 bought again at .03 thinking it was the bottom and averaged down when it was sub penny. Sold when it appeared to be tanking again. This type of financing is linked to the share price. I don't know if Capital is the shorter but someone is shorting their customers and I did sell today what I had left in CIRT. I like CIRT. I think it is a great company and doing business well. I am not sure they can survive their financing deal. I will buy back and I am not bashing but I am guessing sub .015. Maybe sub .01. They can only sell so much stock before the market will not absorb it. It is sad but when I see certain financial parties coming to 'help', I bail out in a panic. IMO-DLTY-DD-Debi
Posts: 1188 | From: Clinton, MA 01510 | Registered: Jan 2004
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