CirTran Corporation (CIRX)

[MFlores]

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.