CirTran Provides Update on Status of Late Form 10-K Filing
SALT LAKE CITY, April 28, 2014 -- CirTran Corporation (OTC BB: CIRC) announced today that it continues to work to file its Form 10-K for the year ended December 31, 2013 upon final approval from its auditor.
CirTran previously disclosed, in Form 12b-25 recently filed with the SEC, why it was unable to timely file its Annual Report on Form 10-K audit.
CirTran estimates that it will report a net income of approximately $1,587,000 on revenues of approximately $3,469,000 for the year ended December 31, 2013, as compared to a net loss of approximately $1,787,643 on revenues of $4,260,417 for the year ended December 31, 2012. These estimates are preliminary and subject to verification and adjustment, the company said.
“Beverage distribution continues to be the flagship of our product line and we are moving ahead with sales and distribution of Playboy Energy Drink -- with the famous rabbit trademark -- in more than 20 countries in Asia, the Middle East, Africa, the U.S., South America, Europe and Canada,” said Iehab J. Hawatmeh, CirTran’s founder and CEO.”
About CirTran Corporation
Founded in 1993, CirTran Corporation (www.CirTran.com) 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. CirTran also continues to maintain the capabilities of its previous core business in off-shore manufacturing of high-volume electronics, fitness equipment and household products for 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.