CirTran Sales Slip in Second Quarter Filing
August 29 2014 - 8:03AM
Business Wire
CirTran Corporation (OTCBB: CIRC) has filed its Quarterly Report
on Form 10-Q for the period ended June 30, 2014.
During the quarter and in the six months ended June 30, CirTran
was driven by sales of its Playboy Energy Drink products, while
working to overcome uncertainty in the marketplace over the outcome
of numerous legal battles – all won to date -- with Playboy
Enterprises.
For the quarter, CirTran reported sales of $547,870 as compared
with $1,096,691 for the same period a year ago. For the six months
ended June 30, 2014, CirTran showed sales of $899,613, down from
the $1,964,843 reported for the first half of 2013.
CirTran reported a net loss of $722,546 for the quarter, while
reporting a net income of $1,695,346 for the same period in 2013.
For the six months ended June 30, 2013, CirTran reported a net loss
of $980,941 as compared with a net income of $1,262,866 for the
first half of 2013. A loss in derivative valuations, a non-cash
item, contributed $475,945 to the net loss in the first six months
of 2014.
Iehab J. Hawatmeh, CirTran’s founder and CEO, said that, “while
impacted by momentum lost while battling in court, CirTran has
emerged unbeaten, our David triumphant over their Goliath, with
retained rights to Playboy Energy Drink. Today, we remain hopeful
that our hard work and the growing awareness of our successes in
the legal process will lead us back to profitability.”
About CirTran Corporation
Founded in 1993, CirTran Corporation has evolved from its roots
in electronics to focus on manufacturing and marketing Playboy
Energy Drink worldwide. In 2007, CirTran created its CirTran
Beverage subsidiary, which partnered with Play Beverages LLC, to
introduce and distribute Playboy Energy Drink a year later
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.
Company:CirTran
CorporationIehab J. Hawatmeh, +(801) 963-5112iehab@CirTran.com
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