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How is a distribution network successful if there are no sales? Never has been successful.
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)
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.”
New license agreement did not become effective.
Mr. Iehab is the President, Chief Executive Officer, Chief Financial Officer, and Chairman per the 2013 10K (the latest official annual report since the 2014 10K has yet to be publicly filed.)
With Mr. Iehab running the show, count on more losses. 15 years worth and counting!
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)
Mr. Iehab already tried to market the drink. A failure, like every other initiative he has tried. Do not expect anything different.
Just presenting facts as opposed to attacks and reckless speculation.
Can't have it both ways - sell the product but incur no royalty obligations while the license agreement is being disputed.
Not accruing royalty obligations is evidence that Cirtran knows that the license did not become effective, as stated in its 2013 10K:
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.”
There is no agreement in place.
Little chance of operating profits where there are no operations.
Settlement money will not change a thing. There is no history of profits with Cirtran. None.
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)
Even when Cirtran had cash it lost money. Cirtran raised money to roll out the energy drink in 2006. Look what happened! Increased losses.
Actually, the best strategy looks to be to not have any operations. In 2004, 2005, and 2012, when there has been in effect no operations, the company has lost the least amount of money. Looks like the best thing to minimize losses is to not do anything.
Losses are why the stock price is where it is.
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)
Shoulds and wishes do not make reality.
Reality:
More than $25 million in debt
No beverage operations.
It is one or the other – settlement $ or continued license. Both will not happen.
Cirtran will be left without any operations.
Mr. Iehab still in charge.
Any settlement $ will be squandered.
Losses will continue - 17 years straight and counting ....
Shareholders will get nothing.
Half truths? No JUST FACTS!
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)
Mr. Iehab has desecrated himself - 16 years of losses - and counting!
More Facts:
Playbev went into Chapter 11 bankruptcy in August 2011. In March 2012 Playboy and PlayBev extended the licensing agreement through July 31, 2012, to allow PlayBev and Playboy to negotiate a potential new licensing agreement.
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 new Playboy license did not become effective per Cirtran's 2013 10K.
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 Company also states: “Litigation respecting the status of the PlayBev license to market Playboy-licensed energy drinks places the validity of that license at issue and may result in termination of that license …”
Hey Professor - a message board seems an appropriate place for asking relevant questions and providing various view points.
Pure speculation.
Facts are that even without Playbev, Cirtran has losses:
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)
As long as Mr. Iehab is running the show it will be more of the same.
Losses were a pattern prior to Playboy.
Facts:
In May 2007 Playbev entered into an agreement with Cirtran to manufacture, market and distribute Playboy energy drinks (refer to 2007 10K)
Losses were a pattern prior to 2007:
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 problem is not Playboy. The problem is Mr. Iehab.
Not until YAG is paid in full will Mr. Iehab be paid his full wages in cash. He can be paid the balance, over and above the $120K, that has been accrued and owing in stock. YAG is limited to 9.99 % of the outstanding stock so Mr. Iehab will not be paid his full $500K salary in cash until YAG is paid in full, which will not happen until "others" are paid with stock.
Allegations are different than facts.
Allegations are different than facts.
Richard-Important to consider facts.
Playbev and Playboy signed a license agreement in 2006 granting Play Bev a limited right to manufacture and sell Playboy-branded energy drinks. The agreement was set to expire March 31, 2012, and contained a renewal term of five years.
Playbev went into Chapter 11 bankruptcy in August 2011. In March 2012 Playboy and PlayBev extended the licensing agreement through July 31, 2012, to allow PlayBev and Playboy to negotiate a potential new licensing agreement.
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 provision, 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 Company goes on to state: “Litigation respecting the status of the PlayBev license to market Playboy-licensed energy drinks places the validity of that license at issue and may result in termination of that license …”
It is all about the status of the license agreement. Playboy is not going to settle if the trademark agreement was no longer effective.
That is not what is happening.
The outstanding shares issued as of Sept 30, 2014 (the last official filing) was 4,498,891,910. Once the r/s is complete / recorded, the outstanding issued shares will be 4,498,892.
With the r/s approved, item (2) of the special meeting changes the number of shares that Cirtran can issue in total to 100,000,000 shares.
This means that now that the r/s has been approved, Mr. Iehab can issue an additional 95,501,108 “post r/s equivalent shares”.
100,000,000 less 4,498,892 = 95,501,108 available shares to issue.
This is how Mr. Iehab is going to pay YAG – with new authorized shares. YAG will then try to convert these shares. The proxy statement indicated that the potential number of shares converted by YAG could be between 4.5 million and 16.0 million (post r/s shares). That would at a minimum double the number of issued shares. However, it looks like there is a 9.9% limitation - YAG can only own 9% of the outstanding shares at any given time. There will be a YAG push to issue shares for other needs.
Once YAG is paid in full, Mr. Iehab's salary restriction by YAG ends.
The R/S by itself means nothing - that is the point. What happens after the R/S is the key.
Increasing the authorized shares is the concern! Increasing the authorized number of shares will allow Mr. Iehab to issue shares to YAG, which dilutes the shares and allows Mr. Iehab to be paid his full $500K salary.
If there is nothing positive in the future, the stock price will not hold. It is all about operations. Given the history of CIRC, that is definitely a concern.
... and those shares will each be worth 1,000 times more - $.20 each at the time of the r/s.
It is Mr. Iehab's mismanagement, broken promises, missed cash payments, etc that have created the current share price.
How many people can raise millions of dollars and squander them with failed initiatives and a lavish lifestyle?
After all of those years even Mr. Fadi had enough and left.
Who knows why the brother split off.
Do not need to be a doctor:
- pays himself over $500K a year (even though YAG Global is limiting that until they get paid in full)
- poison pill severance package that his internal board put in place
- he wants to increase the authorized shares so that he can pay YAG Global in order for himself to paid in full.
- FADI leaves - wonder why?
His actions speak for themselves - Mr. Iehab cares only about himself.
Buyer Beware!
C'mon Farky - he does not care about you!
Narcissistic personality disorder, also known as NPD, is a personality disorder in which the individual has a distorted self-image, unstable and intense emotions, is overly preoccupied with vanity, prestige, power and personal adequacy, lacks empathy, and has an exaggerated sense of superiority. NPD is closely associated with egocentrism - a personality characteristic in which people see themselves and their interests and opinions as the only ones that really matter.
Once again, another example of Mr. Iehab's management blunders. If it is true what you say about Katana (which I do not believe - no way will he be able to buy it back for stock - stock is worthless) - shows that he has no clue what can be successful and what cannot. Mr. Iehab dumps the electronics business and his brother makes it work. Demonstrates - again - that Mr. Iehab cannot manage. He needs to go. Let's vote him out.
The R/S itself does not change the value of the investment! Sorry Moneymade. It is what Mr. Iehab does after the R/S that will determine what happens to the stock price.
Mr. Iehab will continue to mismanage the company, so based on that, the stock price will go down, like it has for years.
After the R/S the 3,000,0000 shares that are worth $300 now will still be worth $300. However, predicting that Mr. Iehab will continue to mismanagement the company, there is the likelihood the share price will move south as it generally does.
Good question. Not sure how many shares YAG holds. A R/S will not affect them, since they would have so many shares, so not sure what side of the r/s vote they would be on. My guess is that they want additional shares to be authorized so that they can be paid per their agreement.
Looks like you have a chance - only need 12 more of you to out-vote Mr. Iehab and Ms. Hollinger.
You can express your opinion on this board - I can express mine.
Keep dreaming
Farky, it has always been about trademark rights and trademark infringement.
This is what you are advising (recommending) or is this what is really on the table?
Main issue is the status of the trademark rights. Must be why Playbev changed legal representation.
Farky, what is going to happen with the case between now and the shareholders meeting's vote on the R/S?
It is all about the trademark licensing agreement.
(1) Cirtran failed to meet minimum licensing agreement requirements and did not meet settlement agreement arrangements.
“"Despite its best efforts," Play Beverages acknowledges it failed to meet the minimum net sales required by its licensing agreement.’
Play Beverages, LLC, et al. v. Playboy Enterprices, Inc. et al.
As discussed in detail in Item 3. Legal Proceedings, on December 6, 2012, the bankruptcy court dismissed the PlayBev bankruptcy case that had been initiated by creditors that filed an involuntary bankruptcy petition against PlayBev in April 2011. Shortly after filing, the bankruptcy proceeding was converted into a Chapter 11 reorganization proceeding, with PlayBev acting as debtor-in-possession. Playboy initially sought to terminate its product license agreement with PlayBev, but thereafter stipulated to suspend further proceedings pending the exploration of settlement. PlayBev reached a settlement with Playboy that would have provided for a new license, conditioned on bankruptcy court approval of PlayBev’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 the plan was abandoned and the settlement agreement and the new Playboy license did not become effective.
Cirtran 2012 10K
Will not happen before May 4th.
It is all about Trademark right infringement - probable CIRC will owe for years of infringement.
Moneymade Post # 30297 Date 08/06/14 01:08:05 PM
"OOOPs .... only 900K on bid to .0002 then .0001
Hdxr, read it again:
CIRC having to add new legal representation indicates a prolonged fight over trademark infringement.
Settlement or award not likely before r/s. That is what I am saying.
CIRC having to add new legal representation indicates otherwise - a prolonged fight over trademark infringement.
LOL ..."continue to support his decisions ...."
Some of his previous decisions:
ABS = Forbearance Agreement
Energy Drink = Trademark right litigation / lose trademark rights?
Playsafe Condoms = Contract terminated because of zero sales
Fitness equipment = zero
True Ceramic Pro = ?
Electronics Assembly = closed
Contract Manufacturing = $92K sales in 2013
Given Playbev has had to bring in trademark attorneys sends the message that Playboy is not interested in a settlement but working to enforce their trademark rights.