Replies to post #20893 on CirTran Corporation (CIRX)

[MFlores]

Cirtran SEC documents an oversight? No Way. With the scrutiny of legal review and the SEC this is not an oversight.

Cirtran was incorporated in Nevada. The company by-laws are governed by the corporation laws of Nevada.

Benefits of Incorporation in the State of Nevada

“Nevada's laws offer flexibility to a board of directors in managing the affairs of a corporation, and permit management to put in place strong protection from hostile takeovers. It also provides extremely strong protection against piercing the corporate veil, where a corporation's owners can be held responsible for the actions of a corporation.

Nevada (unlike other states) permits the corporation's articles of incorporation to vest authority to adopt, amend or repeal bylaws exclusively in the directors, so that shareholders would not be able to change the corporation's bylaws.”

Nevada's tax structure is also a large benefit to incorporation in Nevada. Nevada has no franchise tax. It also has no corporate income tax or personal income tax

[MFlores]

In 1987, CirTran Corporation was incorporated in Nevada under the name Vermillion Ventures, Inc., for the purpose of acquiring other operating corporate entities. We were largely inactive until July 1, 2000, when our wholly owned subsidiary, CirTran Corporation (Utah) acquired substantially all of the assets and certain liabilities of Circuit Technology, Inc.

From Cirtran's 10K - Corporate Background and History