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This lawsuit has no impact on the sale of Playboy.
Even if a deal were imminent (which there is no information that such is the case), it would take months for due diligence to be done, which would allow for plenty of time for a trial.
This thing is going to trial.
Here's some useful information to exchange:
-Playbev filed involuntary bankruptcy in April 2011 as a result of a lawsuit by Playbev creditors.
From the Cirtran 2011 10K:
On April 26, 2011, three alleged creditors, LIB-MP Beverage, LLC, George Denney, and Warner K. Depuy, filed an involuntary Chapter 7 petition against Play Beverages, LLC, a consolidated entity of our subsidiary (“PlayBev”), seeking its liquidation. Thereafter, management decided that reorganizing PlayBev as a debtor-in-possession under Chapter 11, of Title 11, of the United States Bankruptcy Code, was in the best interests of PlayBev and its creditors and equity holders. Accordingly, on August 12, 2011, PlayBev consented to the entry of an order for relief in the pending involuntary bankruptcy case and immediately exercised its right under Section 706(a) of the Bankruptcy Code to convert the case to a voluntary Chapter 11 reorganization case. That same day, the court entered an Order for Relief under Chapter 11 based on PlayBev’s elections.
Cirtran’s 2013 10K states:
“Playbev reached a settlement with Playboy that would have provided for a new license conditioned on bankruptcy court approval of PlaybBev’s reorganization plan, PlayBev’s payment of $2.0 million to Playboy, and other provisions, but PlayBev was unable to obtain the funding needed to pay Playboy the initial amount or otherwise implement the reorganization plan, so that plan was abandoned and the settlement agreement and the new Playboy license did not become effective.”
The sale of Playboy can close regardless of what happens with this lawsuit. It is simple enough to place funds to be held in an escrow for a "possible" payout. This lawsuit is not a factor in the timing of a sale.
This thing is going to trial.
Major difference in the lawsuits:
VuQo vs Playboy - Playboy accused of not paying commissions to Vuqo
"Playboy Enterprises is being accused in a $12 million lawsuit of a naked attempt to hide commission obligations over Playboy-branded liquor."
Playbev vs Playboy - Playbev failed to pay royalties to Playboy.
Cirtran’s 2013 10K states:
“Playbev reached a settlement with Playboy that would have provided for a new license conditioned on bankruptcy court approval of PlaybBev’s reorganization plan, PlayBev’s payment of $2.0 million to Playboy, and other provisions, but PlayBev was unable to obtain the funding needed to pay Playboy the initial amount or otherwise implement the reorganization plan, so that plan was abandoned and the settlement agreement and the new Playboy license did not become effective.”
Oh, c'mon. It's obvious who is spending a whopping $3,300 to promote the stock.
Sale of Playboy is a non-issue - just like the sale of the Mansion was not affected one bit by this lawsuit.
Expect the same outcome as the Playsafe vs United Medical Devices case. In both lawsuits, Mr Iehab serves as the Chairman, President & CEO, with his accomplice – Fadi Nora, a board member of both Playsafe and Playbev.
United Medical Devices had retained Playsafe (Mr. Iehab) as a distributor for brand condoms in various territories around the world, including among others the Middle East, Eastern Europe, Russia, the Ukraine, Australia, and New Zealand.
After an unproductive year, during which Playsafe (Mr. Iehab) achieved no sales to a single consumer, United Medical Devices terminated Playsafe's contract. Playsafe (Mr. Iehab) sued for breach of contract and fraud, seeking $10.5 million in damages. United Medical Devices also sued Playsafe, seeking $700,000 due under the contract.
Following a two-week trial, the jury found 12 to 0 against Playsafe on all its claims and awarded United Medical Devices the full $700,000 sought on its claim. United Medical Devices' principal Jimmy Esebag expressed his gratitude for the verdict: "Justice prevailed. The jury clearly saw through the story concocted by Playsafe's principals Iehab Hawatmeh and Fadi Nora. For this we are grateful."
Playbev did not meet the stated requirements for a Playboy license following bankruptcy.
Cirtran’s 2013 10K states:
“Playbev reached a settlement with Playboy that would have provided for a new license conditioned on bankruptcy court approval of PlaybBev’s reorganization plan, PlayBev’s payment of $2.0 million to Playboy, and other provisions, but PlayBev was unable to obtain the funding needed to pay Playboy the initial amount or otherwise implement the reorganization plan, so that plan was abandoned and the settlement agreement and the new Playboy license did not become effective.”
So, Mr. Iehab sues Playboy, just like in Playsafe. In like manner, I would expect a Jury to find a similar result.
No chance this company reaches a $120 million top line, especially with Mr. Iehab leading the way. No Chance.
In 15 years this company has never made a profit. Nothing changes.
looks like someone is trying to sell some snake oil....
after 15 years of consecutive losses the past has been a pretty good predictor.
Loss from Operations
2014 ?
2013 (1,015,316)
2012 (375,813)
2011 (7,043,410)
2010 (1,015,316)
2009 (5,814,653)
2008 (3,911,212)
2007 (7,232,524)
2006 (2,854,369)
2005 (527,708)
2004 (658,322)
2003 (2,910,978)
2002 (2,149,810)
2001 (2,933,084)
2000 (2,791,888)
1999 (3,768,905
Like I posted previously, this "game" has been played on this CIRC board previously, so it is very ON TOPIC for this board.
"Those who cannot remember the past are condemned to repeat it."
..at least you are honest about the "legal play" because it is delusional to think this about some company with great potential ...
..be careful with ....
The common thread in all three organizations is Mr. Iehab and Mr. Fadi.
Mr. Iehab Hawatmeh = CEO of Cirtran
Mr. Iehab Hawatmeh = Principal of Playbev (related party to Cirtran)
Mr. Iehab Hawatmeh = Principal of Playsafe
Fadi Nora (a former Director of Cirtran) is also a principal in both Playbev and Playsafe
Here's something useful due diligence information:
-Playbev filed involuntary bankruptcy in April 2011 as a result of a lawsuit by Playbev creditors.
From the Cirtran 2011 10K:
On April 26, 2011, three alleged creditors, LIB-MP Beverage, LLC, George Denney, and Warner K. Depuy, filed an involuntary Chapter 7 petition against Play Beverages, LLC, a consolidated entity of our subsidiary (“PlayBev”), seeking its liquidation. Thereafter, management decided that reorganizing PlayBev as a debtor-in-possession under Chapter 11, of Title 11, of the United States Bankruptcy Code, was in the best interests of PlayBev and its creditors and equity holders. Accordingly, on August 12, 2011, PlayBev consented to the entry of an order for relief in the pending involuntary bankruptcy case and immediately exercised its right under Section 706(a) of the Bankruptcy Code to convert the case to a voluntary Chapter 11 reorganization case. That same day, the court entered an Order for Relief under Chapter 11 based on PlayBev’s elections.
Cirtran’s 2013 10K states: “Playbev reached a settlement with Playboy that would have provided for a new license conditioned on bankruptcy court approval of PlaybBev’s reorganization plan, PlayBev’s payment of $2.0 million to Playboy, and other provisions, but PlayBev was unable to obtain the funding needed to pay Playboy the initial amount or otherwise implement the reorganization plan, so that plan was abandoned and the settlement agreement and the new Playboy license did not become effective.”
Similar lawsuit patterns with Playsafe vs United Medical Services and Playbev vs Playboy.
Mr. Iehab does perform:
Playsafe = no sales
Playbev = no royalty payment by required deadline ($2,000,000)
License Terminated:
United Medical Services terminates license agreement
Playboy terminates license agreement
Mr. Iehab sues:
Mr. Iehab sues United Medical Services
Mr. Iehab sues Playboy
Jury “of Peers” rules against Mr. Iehab:
Jury rules 12-0 in favor of United Medical Services
Jury rules in favor of ………. Playboy?
Loss from Operations
2014 ?
2013 (1,015,316)
2012 (375,813)
2011 (7,043,410)
2010 (1,015,316)
2009 (5,814,653)
2008 (3,911,212)
2007 (7,232,524)
2006 (2,854,369)
2005 (527,708)
2004 (658,322)
2003 (2,910,978)
2002 (2,149,810)
2001 (2,933,084)
2000 (2,791,888)
1999 (3,768,905)
The trial will be over before any serious sale diligence happens with Playboy, so this trial is not even a factor of the sale of Playboy.
YAG does not buy companies - they are not interested in running companies. They are in business to extort companies with death spiral financing.
-Playbev filed involuntary bankruptcy in April 2011 as a result of a lawsuit by Playbev creditors.
From the Cirtran 2011 10K:
On April 26, 2011, three alleged creditors, LIB-MP Beverage, LLC, George Denney, and Warner K. Depuy, filed an involuntary Chapter 7 petition against Play Beverages, LLC, a consolidated entity of our subsidiary (“PlayBev”), seeking its liquidation. Thereafter, management decided that reorganizing PlayBev as a debtor-in-possession under Chapter 11, of Title 11, of the United States Bankruptcy Code, was in the best interests of PlayBev and its creditors and equity holders. Accordingly, on August 12, 2011, PlayBev consented to the entry of an order for relief in the pending involuntary bankruptcy case and immediately exercised its right under Section 706(a) of the Bankruptcy Code to convert the case to a voluntary Chapter 11 reorganization case. That same day, the court entered an Order for Relief under Chapter 11 based on PlayBev’s elections.
...more reckless conjecture. Your past speculations have left you very disappointed. When are you going to learn?
The lawsuit is not even a factor in the sale of Playboy.
This thing is going to trial.
Disagree. The Sale of Playboy is irrelevant. Playboy will continue its licensing sale or no sale - just not with Cirtran (Playbev).
For unknown reasons, trials go to jury. Who knows why.
For instance, Playsafe vs United Medical Devices went to trial. Jury found 12 to 0 against Playsafe (Mr. Iehab and Fadi Nora) after only 2 weeks.
Similar circumstances:
Mr. Iehab does not perform:
Playsafe = no sales
Playbev = no royalty payment by required deadline ($2,000,000)
License Terminated:
United Medical Services terminates license agreement
Playboy terminates license agreement
Mr. Iehab sues:
Mr. Iehab sues United Medical Services
Mr. Iehab sues Playboy
Jury “of Peers” rules against Mr. Iehab:
Jury rules 12-0 in favor of United Medical Services
Jury rules in favor of ………. Playboy?
Hopeful for a reasonable judge and jury that will recognize – what Cirtran has already acknowledged – that the contract ended when Playbev did not meet the stated requirements following bankruptcy.
Cirtran’s 2013 10K states: “Playbev reached a settlement with Playboy that would have provided for a new license conditioned on bankruptcy court approval of PlaybBev’s reorganization plan, PlayBev’s payment of $2.0 million to Playboy, and other provisions, but PlayBev was unable to obtain the funding needed to pay Playboy the initial amount or otherwise implement the reorganization plan, so that plan was abandoned and the settlement agreement and the new Playboy license did not become effective.”
simple case of reality vs fantasy
The P/E Ratio is what measures potential.
Cirtran never has had a distribution channel in the US. Nothing has changed.
Rewarded by who?
You should care. The basic calculation for share price (from Investopedia) is:
Stock price = price-to-earnings ratio * earnings per share
You will notice that share price requires EARNINGS. Circ has not had earnings for 15 consecutive years.
Funds from a "possible" settlement or jury award does not guarantee earnings, particularly with Mr. Iehab leading the way.
To expectation that more gullible and non-informed investors will rush in and buy this stock (with no history of earnings) and no business operations (no trademark license) is really a hope and a pray.
To expect Mr. Iehab to buy back stock to reward loyal investors is also naive and comical. He does not care about anyone but himself.
Narcissistic personality disorder is a mental disorder in which people have an inflated sense of their own importance, a deep need for admiration and a lack of empathy for others.
In the sports world, Coaches who go 0-15 are fired.
Cirtran has not made a profit in 15 years: 0 - 15.
History of losses under Mr. Iehab’s management:
Loss from Operations
2014 ?
2013 (1,015,316)
2012 (375,813)
2011 (7,043,410)
2010 (1,015,316)
2009 (5,814,653)
2008 (3,911,212)
2007 (7,232,524)
2006 (2,854,369)
2005 (527,708)
2004 (658,322)
2003 (2,910,978)
2002 (2,149,810)
2001 (2,933,084)
2000 (2,791,888)
1999 (3,768,905)
Without the trademark license, and as long as Mr. Iehab is running the show, there will only be more losses.
Mr. Iehab should be fired.
What? Of course it is relevant.
Similar lawsuit patterns with Playsafe vs United Medical Services and Playbev vs Playboy.
Mr. Iehab does perform:
Playsafe = no sales
Playbev = bankrupted, no royalty payment by required deadline ($2,000,000)
License Terminated:
United Medical Services terminates license agreement
Playboy terminates license agreement
Mr. Iehab sues:
Mr. Iehab sues United Medical Services
Mr. Iehab sues Playboy
Jury “of Peers” rules against Mr. Iehab:
Jury rules 12-0 in favor of United Medical Services
Jury rules in favor of ………. Playboy?
The Playsafe vs United Medical Devices should have been a no-brainer also (since Playsafe = Mr. Iehab, had no sales to a single customer) but for some reason the Judge let it go to trial (a jury of peers).
Following a two-week trial, the jury found 12 to 0 against Playsafe on all its claims and awarded United Medical Devices the full $700,000 sought on its claim. United Medical Devices' principal Jimmy Esebag expressed his gratitude for the verdict: "Justice prevailed. The jury clearly saw through the story concocted by Playsafe's principals Iehab Hawatmeh and Fadi Nora. For this we are grateful."
Iehab Hawatmeh serves as the Chairman, President & CEO and Fadi Nora is a board member of CirTran Corporation.
I would expect the same outcome...
... more nonsense...
The sale of Playboy brings little if any "motivation" to settle. In a business sale, if contingencies exist, funds are simply held in an escrow until such a time as the contingencies are settled.
....if your constant claims of Playboy injuring Cirtran, why has not the judge ruled if favor of Cirtran?
... this is going to trial.
Nonsense
-Playbev filed involuntary bankruptcy in April 2011 as a result of a lawsuit by Playbev creditors.
From the Cirtran 2011 10K:
On April 26, 2011, three alleged creditors, LIB-MP Beverage, LLC, George Denney, and Warner K. Depuy, filed an involuntary Chapter 7 petition against Play Beverages, LLC, a consolidated entity of our subsidiary (“PlayBev”), seeking its liquidation. Thereafter, management decided that reorganizing PlayBev as a debtor-in-possession under Chapter 11, of Title 11, of the United States Bankruptcy Code, was in the best interests of PlayBev and its creditors and equity holders. Accordingly, on August 12, 2011, PlayBev consented to the entry of an order for relief in the pending involuntary bankruptcy case and immediately exercised its right under Section 706(a) of the Bankruptcy Code to convert the case to a voluntary Chapter 11 reorganization case. That same day, the court entered an Order for Relief under Chapter 11 based on PlayBev’s elections.
Playboy terminated the license! Playboy, not anyone else.
Cirtran’s 2013 10K states: “Playbev reached a settlement with Playboy that would have provided for a new license conditioned on bankruptcy court approval of PlaybBev’s reorganization plan, PlayBev’s payment of $2.0 million to Playboy, and other provisions, but PlayBev was unable to obtain the funding needed to pay Playboy the initial amount or otherwise implement the reorganization plan, so that plan was abandoned and the settlement agreement and the new Playboy license did not become effective.”
In December 2012 Playboy filed suit, In the US District Court for the Central District of California, for trademark infringement since a new license agreement did not become effective.
Cirtran underperformed, did not make required payments.
Playboy wants nothing to do with Cirtran.
No Chance.
Mr. Jimmy has already bested Mr. Iehab in a very similar case (Playsafe vs United Medical Devices).
“After an unproductive year, during which Playsafe achieved no sales to a single consumer, United Medical Devices terminated Playsafe's contract. Playsafe sued for breach of contract and fraud, seeking $10.5 million in damages.
Following a two-week trial, the jury found 12 to 0 against Playsafe on all its claims and awarded United Medical Devices the full $700,000 sought on its claim. United Medical Devices' principal Jimmy Esebag expressed his gratitude for the verdict: "Justice prevailed. The jury clearly saw through the story concocted by Playsafe's principals Iehab Hawatmeh and Fadi Nora[/b]. For this we are grateful."
Similar Legal Situation (Mr. Jimmy knows this!):
1) Cirtran underperformed
2) Playboy terminated the license
Cirtran’s 2013 10K states: “Playbev reached a settlement with Playboy that would have provided for a new license conditioned on bankruptcy court approval of PlaybBev’s reorganization plan, PlayBev’s payment of $2.0 million to Playboy, and other provisions, but PlayBev was unable to obtain the funding needed to pay Playboy the initial amount or otherwise implement the reorganization plan, so that plan was abandoned and the settlement agreement and the new Playboy license did not become effective.”
3) Cirtran sued
4) A similar result can be expected in the upcoming trial (Jury “of peers” found in favor of UMC)
Cirtran has no distribution market in the U.S. No chance sales will reach $65 Million in two years. None.
History of losses under Mr. Iehab’s management:
Loss from Operations
2014 ?
2013 (1,015,316)
2012 (375,813)
2011 (7,043,410)
2010 (1,015,316)
2009 (5,814,653)
2008 (3,911,212)
2007 (7,232,524)
2006 (2,854,369)
2005 (527,708)
2004 (658,322)
2003 (2,910,978)
2002 (2,149,810)
2001 (2,933,084)
2000 (2,791,888)
1999 (3,768,905)
Nonsense. Circ cannot make $56 million in Revenues, let alone earnings. Few companies, if any, go from $0 revenues to $56 million in a couple of years. Completely unrealistic.
Especially with no trademark.
And with Mr. Iehab at the helm...impossible
Playsafe versus United Medical Devices - Sound Familiar?
United Medical Devices Wins Verdict Against Playsafe
LOS ANGELES, May 2, 2013 /PRNewswire/ -- This past Monday April 29th, a Santa Monica jury returned a unanimous verdict in favor of United Medical Devices and against Playsafe, LLC. United Medical Devices had retained Playsafe as a distributor for brand condoms in various territories around the world, including among others the Middle East, Eastern Europe, Russia, the Ukraine, Australia, and New Zealand.
After an unproductive year, during which Playsafe achieved no sales to a single consumer, United Medical Devices terminated Playsafe's contract. Playsafe sued for breach of contract and fraud, seeking $10.5 million in damages. United Medical Devices also sued Playsafe, seeking $700,000 due under the contract.
Following a two-week trial, the jury found 12 to 0 against Playsafe on all its claims and awarded United Medical Devices the full $700,000 sought on its claim. United Medical Devices' principal Jimmy Esebag expressed his gratitude for the verdict: "Justice prevailed. The jury clearly saw through the story concocted by Playsafe's principals Iehab Hawatmeh and Fadi Nora. For this we are grateful."
Iehab Hawatmeh serves as the Chairman, President & CEO and Fadi Nora is a board member of CirTran Corporation.
United Medical Devices will seek its attorneys' fees, which should push the judgment to over $1 million.
Distribution channels = non-existent
If the distribution channels are in place, why are there not any sales?
There is no significant distribution channel in the U.S. - the single biggest market for energy drinks in the world
Where are all of the repeat international sales? There are none.
The last we know, CIRC had $200 in the bank account.
Jimmy has already beaten Iehab in court. This thing is going to trial.
Reckless speculation since Mr. Iehab has not reported financials since Sept 30, 2014.
Circ only had $200,871 of sales during the 3 months ended September 30, 2014. No way international sales are paying for legal expenses.
As of Sept 30, 2014 he had short-term "advances" of $2,165,321 from non-related parties and $786,381 of "advances" from related parties.
He is using other people's money, as usual.
... more like facts and reality.
No chance the drink will be viable without the trademark.
International agreements have proven worthless. Where are all of the international sales?
Mr Iehab does not have the skills to compete with the top energy drink companies.
No trademark license Cirtran is dead.
More Facts:
7) Fadi (Mr. Iehab's accomplice all these years) resigned from the board. Why?
8) R/S was approved - still outstanding
9) $24 million in current liabilites (the last we know since Financials have not been filed for over a year)
10) $200 cash in the bank
11) 4 full-time employees (including the receptionist)
Who loses when Playbev (Cirtran) loses the trademark? hmm