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CirTran Corp. Announces 15-1 Stock Split

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sweetpepperjam Member Level  Monday, 07/23/01 09:02:48 AM
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CirTran Corp. Announces 15-1 Stock Split

SALT LAKE CITY, Jul 23, 2001 (BUSINESS WIRE) -- CirTran Corp. (Pink Sheets: CIRT) Monday announced that its board of directors has unanimously approved a 15:1 forward split of the company's common stock.
This will effectively increase the issued shares from 10,495,637 to 157,434,555. The forward split was done to address what is anticipated to be the last hurdle in the relisting process. The NASD had previously commented that due to the extremely small number of shares currently available in the public float, a move to the OTCBB would continue to be delayed.

Iehab Hawatmeh, president of CirTran commented, "This split will hopefully increase the float to a level acceptable by the NASD, and should also allow for increased liquidity, and a more favorable bid/ask spread. The NASD returned comments after our previous OTCBB listing application that the small float was a concern.

"Further, CirTran will be poised to take advantage of the opportunities presented due to consolidation within our industry."

In a statement from the board of directors the company issued, "All stockholders of record as of the close of business on Aug. 2, 2001 shall receive for no additional consideration on Aug. 3, 2001, 14 additional shares of common stock for each share held and the shares of common stock so issued shall be, when issued, fully paid and non-assessable."

The transfer agent for CirTran Corp. is Interwest Transfer Co., Inc. They are located at P.O. Box 17136, Salt Lake City, UT 84117, and may be reached at 801/272-9294 by telephone or 801/277-3147 by fax.

About CirTran Corp.

CirTran Corp., "CTC," provides a mixture of high- and medium-sized volume turnkey manufacturing services using surface mount technology (SMT), ball-grid array (BGA) assembly, pin-through-hole (PTH) and custom injection molded cabling for leading electronics OEMs in the communications, networking, peripherals, gaming, consumer products, telecommunications, automotive, medical and semiconductor industries.
The company provides a wide variety of pre-manufacturing, manufacturing and post-manufacturing services.

CTC's goal is to offer its customers the significant competitive advantages that can be obtained from manufacturing outsourcing such as access to advanced manufacturing technologies, shortened product time-to-market, reduced cost of production, more effective asset utilization, improved inventory management and increased purchasing power.

For more about CirTran visit the company's website at http://www.cirtran.com.

Safe Harbor Statement -- Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 and may contain forward-looking statements, with words such as "anticipate," "believe," "expect," "future," "may," "will," "should," "plan," "projected," "intend" and similar expressions to identify forward-looking statements.

These statements are based on the company's beliefs and the assumptions it made using information currently available to it. Because these statements reflect the company's current views concerning future events, these statements involve risks, uncertainties and assumptions.

The actual results could differ materially from the results discussed in the forward-looking statements. In any event, undue reliance should not be placed on any forward-looking statements, which apply only as of the date of this press release. Accordingly, reference should be made to the company's periodic filings with the Securities and Exchange Commission.

CONTACT: CirTran Corp., Salt Lake City
Iehab Hawatmeh, 801/963-5112

URL: http://www.businesswire.com
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Copyright (C) 2001 Business Wire. All rights reserved.



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