Not meeting required performance objectives required for the continuation of the playboy license are FACTS which precipitated the termination of the license.
Cirtran itself acknowledged that it did not perform. Cirtran’s 2013 10K states:
“Playbev reached a settlement with Playboy that would have provided for a new license conditioned on bankruptcy court approval of PlaybBev’s reorganization plan, PlayBev’s payment of $2.0 million to Playboy, and other provisions, but PlayBev was unable to obtain the funding needed to pay Playboy the initial amount or otherwise implement the reorganization plan, so that plan was abandoned and the settlement agreement and the new Playboy license did not become effective.”
It is beyond unbelievable that Mr. Iehab and his legal counsel could not provide "all the facts" leading up to the trial ("exhibits filed"), and then during the trial itself. It would be comical if it was not so amazingly sad. Once again, another example of how completely inept Mr. Iehab is.
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