Exclusive Manufacturing Agreement Signed
On January 19, 2005, CirTran Corporation (the "Company"), signed an Exclusive Manufacturing Agreement (the "Manufacturing Agreement") with Advanced Beauty Solutions, LLC, a California limited liability company ("ABS").
ABS designed, manufactures, and markets a personal hair care product known as the "True Ceramic Pro - Flat Iron Traveling Kit" which features the True Ceramic Pro - Infra Red Ionic Styler (the "Product"). Under the Manufacturing Agreement, the Company and ABS agreed that the Company would be the exclusive manufacturer of the Product. ABS agreed that it would not manufacture or cause any third party to manufacture the Product, and the Company agreed that neither the Company nor any of its subsidiaries or affiliated entities would manufacture ceramic flat irons without the consent of ABS.
Pursuant to the Manufacturing Agreement, the Company and ABS agreed that the Company would have thirty days following the execution of the Manufacturing Agreement for the Company to produce an initial run of machine-assembled samples for ABS to inspect. If the samples provided did not meet ABS's approval, ABS could terminate the Manufacturing Agreement. On February 22, 2005, ABS approved the samples provided by the Company.
The term of the Manufacturing Agreement runs through the date which is thirty months following the initial delivery of Products to ABS or until the full initial order is delivered.
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For the wholer text, check out the SEC filling released today.
Mike
