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na, itll be today. which is good. only makes us stronger.
we need a good down day, so im not worried, a good reset!
may be red day, but im fine with that, just add to my position!
3mil support on .0023
i feel we will trade sidways today, which will be good, That news can come at anytime, and the closer we get to Jan 3 the more people are gonna start loading up. We got time.
lol, we have great support, people selling are impatient.
GO CIRC!!
.0027 Go CIRC tomorrow brings new highs!
Lawsuit Date & DD + 8-K
GOT EM!! WE HAVE A COURT DATE!!!! 8-K confirms my assumption for planned actions. We are going for the jugular!!!
Court Date: 1/3/2013
Court Time: 0930
Playboy Sued by Energy Drink Licensee Link
Defendant(s)
COOPERSMITH, RON
ESEBAG, JIMMY
FZE REDI
LEVIN, PAUL
PLAYBOY ENTERPRISES INC
RLC PARTNERS LLC
UNITED LICENSING GROUP
Play Beverages, LLC, et al. v. Playboy Enterprises, Inc., et al. - In October 2012, our wholly owned subsidiary, CirTran Beverage Corp., and PlayBev joined in filing a lawsuit in Cook County, Illinois, captioned, Play Beverages, LLC, and CirTran Beverage Corp. v. Playboy Enterprises, Inc., et al ., Case No. 2012L012181. In their amended complaint, the plaintiffs allege that Playboy breached, and that all defendants conspired to breach and aided and abetted Playboy’s breach, of the previous product license agreement and interfered with the plaintiffs’ established distributorship network. The plaintiffs seek compensatory and punitive damages, an injunction against termination of the previous product license and continuing interference, and other equitable and ancillary relief. Playboy and the other defendants have not responded to the lawsuit.
Click Link for Court Docket
8-K
ITEM 8.01—OTHER EVENTS
Through our wholly owned subsidiary, CirTran Beverage Corporation, or CBC, we manufacture, market, and distribute internationally an energy drink under an exclusive manufacturing, marketing, and distribution agreement with Play Beverages, LLC, or PlayBev, our consolidated variable interest entity, which has a license, now in dispute, with Playboy Enterprises, Inc., or Playboy. Our beverage distribution segment accounted for 94% and 97% of total revenue during the nine months ended September 30, 2012, and 2011, respectively, and 96% and 85% of total revenue during 2011 and 2010, respectively.
On April 26, 2011, three alleged creditors, LIB-MP Beverage, LLC, George Denney, and Warner K. Depuy, filed an involuntary Chapter 7 petition against PlayBev, seeking its liquidation and related matters. In re Play Beverages, LLC , United States Bankruptcy Court for the District of Utah, Case No. 11-26046. Thereafter, the case was converted to a voluntary Chapter 11 reorganization case. PlayBev worked subsequently as debtor-in-possession to propose and confirm a plan of reorganization based on a new license agreement with Playboy that was to become effective as part of a court- and creditor-approved plan of reorganization, subject to obtaining requisite financing. In addition, CBC entered into agreements with PlayBev to resolve intercompany advances, settle claims, and transfer CBC’s beverage distribution assets to PlayBev. CBC was to receive equity and an ongoing share of revenues from the reorganized debtor. Since the required court and creditor approvals and financing were not obtained, none of the foregoing agreements became effective.
On December 6, 2012, the bankruptcy court dismissed PlayBev’s bankruptcy case based on the evidence, PlayBev’s stipulation, and the U.S. Trustee’s recommendation. The order followed a two-day evidentiary hearing on a motion of the unsecured creditors, led by the three alleged creditors that had filed the initial involuntary Chapter 7 petition against PlayBev in April 2011, to again have the case converted to a liquidation. CirTran participated in the hearing and requested that the case be dismissed. All other pending motions and proceedings were similarly dismissed, and the automatic stay is no longer in effect. PlayBev is precluded from refiling for bankruptcy court protection for 180 days after the dismissal.
In its findings accompanying the dismissal order, the court observed that a principal of one of the petitioning creditors had signed the exclusive manufacturing, marketing, and distribution agreement that established the business relationship between CBC and PlayBev for the distribution of the Playboy-branded energy drink that resulted in PlayBev’s large obligation due CBC. The court further noted that there was no evidence that our chief executive officer, Iehab Hawatmeh, had engaged in any self-dealing where a liquidation trustee might be helpful in recovering assets for the benefit of the bankruptcy estate or that the creditors would be treated unfairly outside of bankruptcy as the petitioning creditors claimed.
We intend to continue to manufacture, market, and distribute the Playboy-branded, non-alcoholic energy drink under the Playboy license, which we and PlayBev assert still remains in effect, and the manufacturing, marketing, and distribution agreement between CBC and PlayBev.
We and PlayBev intend to continue our suit against Playboy in Cook County, Illinois, alleging that Playboy breached, and that all defendants conspired to breach and aided and abetted Playboy’s breach, of the previous product license agreement and interfered with our established distributorship network. We seek compensatory and punitive damages, an injunction against termination of the previous product license and continuing interference, and other equitable and ancillary relief. Play Beverages, LLC, and CirTran Beverage Corp. v. Playboy Enterprises, Inc., et al., Case No. 2012L012181. Playboy and the other defendants have not responded to the lawsuit.
8-K Link
CIRC .0027 Confirmed DD w/8-K after hours today
ITEM 8.01—OTHER EVENTS
Through our wholly owned subsidiary, CirTran Beverage Corporation, or CBC, we manufacture, market, and distribute internationally an energy drink under an exclusive manufacturing, marketing, and distribution agreement with Play Beverages, LLC, or PlayBev, our consolidated variable interest entity, which has a license, now in dispute, with Playboy Enterprises, Inc., or Playboy. Our beverage distribution segment accounted for 94% and 97% of total revenue during the nine months ended September 30, 2012, and 2011, respectively, and 96% and 85% of total revenue during 2011 and 2010, respectively.
On April 26, 2011, three alleged creditors, LIB-MP Beverage, LLC, George Denney, and Warner K. Depuy, filed an involuntary Chapter 7 petition against PlayBev, seeking its liquidation and related matters. In re Play Beverages, LLC , United States Bankruptcy Court for the District of Utah, Case No. 11-26046. Thereafter, the case was converted to a voluntary Chapter 11 reorganization case. PlayBev worked subsequently as debtor-in-possession to propose and confirm a plan of reorganization based on a new license agreement with Playboy that was to become effective as part of a court- and creditor-approved plan of reorganization, subject to obtaining requisite financing. In addition, CBC entered into agreements with PlayBev to resolve intercompany advances, settle claims, and transfer CBC’s beverage distribution assets to PlayBev. CBC was to receive equity and an ongoing share of revenues from the reorganized debtor. Since the required court and creditor approvals and financing were not obtained, none of the foregoing agreements became effective.
On December 6, 2012, the bankruptcy court dismissed PlayBev’s bankruptcy case based on the evidence, PlayBev’s stipulation, and the U.S. Trustee’s recommendation. The order followed a two-day evidentiary hearing on a motion of the unsecured creditors, led by the three alleged creditors that had filed the initial involuntary Chapter 7 petition against PlayBev in April 2011, to again have the case converted to a liquidation. CirTran participated in the hearing and requested that the case be dismissed. All other pending motions and proceedings were similarly dismissed, and the automatic stay is no longer in effect. PlayBev is precluded from refiling for bankruptcy court protection for 180 days after the dismissal.
In its findings accompanying the dismissal order, the court observed that a principal of one of the petitioning creditors had signed the exclusive manufacturing, marketing, and distribution agreement that established the business relationship between CBC and PlayBev for the distribution of the Playboy-branded energy drink that resulted in PlayBev’s large obligation due CBC. The court further noted that there was no evidence that our chief executive officer, Iehab Hawatmeh, had engaged in any self-dealing where a liquidation trustee might be helpful in recovering assets for the benefit of the bankruptcy estate or that the creditors would be treated unfairly outside of bankruptcy as the petitioning creditors claimed.
We intend to continue to manufacture, market, and distribute the Playboy-branded, non-alcoholic energy drink under the Playboy license, which we and PlayBev assert still remains in effect, and the manufacturing, marketing, and distribution agreement between CBC and PlayBev.
We and PlayBev intend to continue our suit against Playboy in Cook County, Illinois, alleging that Playboy breached, and that all defendants conspired to breach and aided and abetted Playboy’s breach, of the previous product license agreement and interfered with our established distributorship network. We seek compensatory and punitive damages, an injunction against termination of the previous product license and continuing interference, and other equitable and ancillary relief. Play Beverages, LLC, and CirTran Beverage Corp. v. Playboy Enterprises, Inc., et al., Case No. 2012L012181. Playboy and the other defendants have not responded to the lawsuit.
Great thing, we had 1/3 the volume and another 50% starting to thin out which will be great, shares are getting into stronger hands!
its all good we got some smart people buying up the shares! Higher we go!
Told all the bashers now they can read it for themselves! Go circ
Hrmm I've see a lot of boards with the same thing, no trades for last hr...
easy... before the breech and forced BK, .005-.006 range... continued operations could have led back to .01+
Breech lawsuit + damages + injunction to take the option out of playboys hands = $$$$$
people just dont understand, slow and steady vs. huge shoot up and hope for profit before plummet. Great news to come, going to see CIRC alot higher easily by EOY.
after lunch lull we will pick back up, dont think we have seen HOD yet.
lol, what??? .
Great stair step, slow climb with consolidation is always better than spikes!
O/S is fine, Others have the same or more and are sitting higher...
Won't be tough, Playboy was informed, said it was ok, then started their breech of contract talking to another company and interferring with business relations, They are taking them to court for an injunction to extend the contract due to the breech.
PlayDev is no part of anything, not even sure what that is.
PlayBev however is still the distributor. After the court hearing Playboy will lose its option to choose, and be court ordered.
With settlement easily pay off debt, buyback etc..
.01 could happen, just need the right news and future looking statements and settlement news.
Great slow consilidation, we dont want a huge shoot up, just makes lower bottoms, this is 4 steps foward 2 steps back, which is way better than .01 in 20min, then .0001 at 23min
just warming up!
CIRC .0026 pull back, setting up for next leg!! still time to get in!
lol, Flipper
yep filling gap, moving toward next leg
CIRC climbing up 33%
CIRC up 44% dont miss these gains!!
.0023 x .0025
.0022 x .0024
lol, its catchy, bottom right hand corner for silencing it.
Read the DD folks, EE1000 will spam the same thing over and over with no links to proof of anything he says.
top links have great info with links.
It's been so long I didn't look at it, just remembered that along time ago, that's good to know. lol posting while sleepy didnt even look it over.
will keep an eye on this one.
if so..lol make sure they bought it, otherwise could be all smoke and mirrors...
DD From Company CXAC
lol, did they buy Snorenz from CXAC?
;) it is icing on the cake! see ya in the AM
Looks interesting, how convenient... Its located with in 20-30mins of where i am at. May have to stop in and see what is really going on. Will post follow up.
Looks like they will have to increase A/S Soon, considering they are almost maxed out.
GO CIRC,
lol funny you must hate competition (bbd@)
hes at a place he likes, but not at the price he wants, therefore his market strategy is doubt and fear tactic to lure those weak hands into shedding some shares, to cause a drop to where he can scoop up some easy money. Regardless, there are always sellers and buyers, just gotta be patient and find a price you like to enter in at.
"Playboy also began working closely with Redi FZE, in order to assist that distributor in breaching its distribution contract," the complaint states.
On July 14, Playboy allegedly notified distributors that it Play Beverages had defaulted on its licensing agreement, and that Playboy was in the process of terminating it.
"Playboy's communication was unsolicited and intended to disrupt the distributor network by creating unnecessary concern and uncertainty among the distributors," Play Beverages claims.
The plaintiffs seek an injunction barring Playboy from terminating the license agreement, and unspecified damages for breach of contract, breach of good faith, tortious interference and promissory estoppel.
LOL, Thats why they are going to court, take the decision out of PLAYBOY's hands. ROTFL
Here all day, for rebuttal to all slander.
We already got that, with the throw out of the forced bankruptcy, they have still been doing sales, just a loss in sales due to all the slander/forcing of bankruptcy.
This lawsuit will be icing on the cake.