CirTran Corporation (CIRX)

[12yearplan]

Man, Lehab couldn't win a free ticket if he bought a 1000 of em..
https://www.chicagobusinesslitigationlawyerblog.com/play-beverages-v-playboy/
..in October 2016, the court awarded a judgment to Playboy of $6.6 million against Play Beverages and CirTran Beverage Corp., our subsidiary. The court denied our motion for a new trial and awarded Playboy treble patent infringement damages and attorney’s fees. We filed a notice of appeal in July 2017 and again in March 2018. Playboy has initiated collection efforts but has recovered no funds. We have accrued $17,205,599 as of June 30, 2019 and December 31, 2018 related to this judgment which is included in liabilities in discontinued operations. In September 2018, the appellate court affirmed the judgment of the circuit court.
https://www.otcmarkets.com/filing/html?id=13593320&guid=AfmfUnksZwpNP3h

It would have to be a yuuge lottery win to give Cirtran back a storyline.

Here it is;

  Under a term sheet signed April 22, 2019, a newly organized CirTran Corporation subsidiary will manufacture, market, and distribute exclusively a nonalcoholic energy drink and other beverages, electronic cigarettes and cigars, condoms, and other products as an exclusive contract manufacturer and distributor for an unaffiliated licensee that is completing licensing arrangements with a privately held, well-capitalized, U.S. firm with international retail and publishing operations, under the licensor’s well-established lifestyle private label. The name of the licensor is confidential pending its completion of trademark product category filings in additional global markets and the negotiation and execution of definitive agreements. This exclusive distribution agreement encompasses products and activities in mass market, specialty, drug, supermarket, military, club stores, direct response, mail order, pharmacies, casinos, clubs, convenience stores, retail, internet, news/kiosks, vending machines, airport, and duty-free distribution channels.

 

Under our arrangement, we will manufacture, market, and distribute products, subject to a royalty based on manufacturing and advertising expenditures. The licensee will be obligated to pay the trademark owner-licensor a 6% royalty fee on all sales, with advance royalties due upon signing the definitive agreements and guaranteed royalties due over the next four years. The unaffiliated licensee intends to fund any minimum royalty payments and budgeted product rollout costs with capital raised from private investors.

 

These manufacturing and distribution arrangements culminate months of direct negotiations with both the licensee and the trademark owner-licensor, which we initiated after the October 2018 denial of our petition for retrial in the litigation with Playboy Enterprises, Inc. in Cook County, Illinois. Under our previous agreement with Playboy, our now-discontinued subsidiary had been precluded from commencing any business that was competitive with the distribution of nonalcoholic beverage under the Playboy name and license.

 

In undertaking this new product distribution opportunity, we will seek to take advantage of our distribution and manufacturing relationships established in several global locations during the last 18 years.

 https://investorshub.advfn.com/boards/read_msg.aspx?message_id=151165367

May have stashed a few cases, never know ;)
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