Cirtran is back in business - Ackshun today
Item 1.01 Entry into a Material Definitive Agreement
On December 30, 2019, CirTran Corporation (the “Company”), through its wholly-owned subsidiary, LBC Products, Inc., a Utah corporation (“LBC”), entered into an Exclusive Manufacturing and Distribution Agreement (the “Agreement”) with GloBrands, LLC, a New Mexico limited liability company (“GB”), an unaffiliated party. Under the Agreement, GB granted the Company the right to manufacture, distribute, and sell condoms, electronic cigarettes, electronic cigars, cigars, hookahs, hookah tobacco, energy drinks, water beverages, and related merchandise, all using the HUSTLER® trademark, under three license agreements between GB and LFP Product Licensing, LLC, a California limited liability company. Under the Agreement, LBC will retain its cost of goods sold plus an additional 20% of that amount and 10% of gross sales of the covered products, and GB will reimburse certain of LBC’s media placement expenses plus an additional 5% of the amount of those expenses. The agreement term extends through November 30, 2024.
As of November 29, 2019, the Company entered into a Commercial Lease (the “Lease”) with GB. The Lease allows the Company the use of a 500 square foot office space and 2000 square foot warehouse in Las Vegas, NV, on a month-to-month basis, in exchange for rent of $2,500 per month.
Item 9.01 Financial Statements and Exhibits.
The following is filed as an exhibit to this report:
Exhibit
Number* Title of Document Location
Item 10 Material Contracts
10.55 Exclusive Manufacturing and Distribution Agreement Dated and executed December 30, 2019 Attached
10.56 Commercial Lease Dated and executed November 29, 2019. Attached
Can't open the attachments.. anyone?, thanks.
