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For Immediate Release
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Company Contact:
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Xxxxx X. Xxxxxxxx
CirTran Corporation
x(000) 000-0000
xxxxx@XxxXxxx.xxx
CirTran Extends Maturity/Registration Filing Dates on Debentures
SALT LAKE CITY, February 12, 2008 -- CirTran Corporation (OTC BB: CIRC), an
international, full-service contract manufacturer of IT, consumer and
electronics products, announced today that maturity dates and registration
filing dates in connection with three debenture agreements had been extended.
CirTran CFO Xxxxx Xxxxxx said the maturity date extensions involve two
convertible debentures issued in 2005 by CirTran to YA Global Investments, LP
(formerly known as Cornell Capital Partners, LP) and Highgate House Funds, LTD.
The maturity dates for both debentures were extended to August 31, 2008.
Xx. Xxxxxx said that YA Global Investments also agreed to extend the deadline
for registering the resale of shares of common stock issuable upon conversion of
its debenture until January 1, 2009, and similarly agreed to extend the
registration deadline in connection with another debenture issued by CirTran in
2006.
"CirTran has maintained a very positive relationship with the management of YA
Global Investments and Highgate over the past three years," said Xx. Xxxxxx. "We
are pleased that these investment funds continue to express confidence in our
plan and progress, as demonstrated by their willingness to continue working with
us on the terms of these debenture agreements."
About CirTran Corporation
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Founded in 1993, CirTran Corporation (OTC BB: CIRC, xxx.XxxXxxx.xxx) is a
premier international, full-service contract manufacturer. Headquartered in Salt
Lake City, Utah, its ISO 9001:2000-certified, 40,000-square-foot facility is the
largest non-captive operation devoted to contract manufacturing 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.
CirTran-Asia, a wholly-owned subsidiary with principal offices in ShenZhen,
China, 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. CirTran disclaims any obligation or intention to
update any forward-looking statement.
All trademarks are properties of their respective owners.
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