CirTran Corporation (CIRX)

[gotinearly]

CirTran's Annual Meeting Highlighted by Update on Launch of Playboy Energy Drink
Tuesday June 24, 8:28 am ET


SALT LAKE CITY--(BUSINESS WIRE)--CirTran Corporation (OTCBB: CIRC - News) today reported recent events which took place during and around its annual meeting last week.
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CirTran announced that Donald L. Buehner retired from its Board of Directors effective June 18, the date of the meeting. The anticipated retirement was previously mentioned in a proxy statement and in the company’s most recent quarterly financial report. Iehab J. Hawatmeh, CirTran’s chief executive officer, said a search for an outside Board member to replace Mr. Buehner was underway.

At the meeting, Mr. Hawatmeh and Fadi Nora, an investment consultant, were both reelected to the Board, and all other proposals presented to shareholders were passed.

Launching Playboy Energy

A highlight of the meeting was a report on test market and product launch activities for the new Playboy Energy Drink™ beverage manufactured and distributed by CirTran Beverage Corp. Robert Nistico, president of U.S. Operations for affiliate Play Beverages, LLC, updated shareholders on progress to-date including a promotional bus tour and successful launch in Florida which paved the way for product shipments through Southern Wine and Spirits of America, Inc. He said a similar bus tour and product launch is now underway in southern California in cooperation with the Coast Beverage Group, a subsidiary of Straub Distributing Co., which distributes Anheuser Busch beverages.

Mr. Nistico also described preliminary plans to organize U.S. sales territories into four divisions and build a sales staff of 40 by the end of fiscal 2009. Mr. Hawatmeh added to the report, noting that product samples have been shipped overseas, pursuant to obtaining regulatory approvals needed from various countries involved in anticipation of distribution agreements.

CirTran Obtains Judgment in Casey Litigation

CirTran also said it recently obtained a $788,875 judgment against Michael Casey and Michael Casey Enterprises, Ltd. CirTran had originally sued in 2005 on behalf of its subsidiary, CirTran – Asia, Inc. concerning licensing issues relating to the AB-King Pro exercise product. The motion for partial summary judgment was granted in United States District Court.