Replies to post #24437 on CirTran Corporation (CIRX)

[Pure_Greatness]

Which is explained in the last 10Q pg 24

As of July 31, 2013, YA Global Investments, L.P., and its assigns converted an aggregate of $333,700 in amounts due under outstanding convertible debentures originally issued to YA Global’s predecessor-in-interest in 2005 and 2006, and subsequently amended, restated, and consolidated, to 333,700,000 shares of CirTran Corporation’s common stock at the conversion price set forth in the debentures.

In each of the above transactions, the convertible debentures exchanged for the common stock issued had been issued as restricted securities taken for investment with a restrictive legend to the effect that such securities were restricted. The issuance of the original securities was effected in reliance on the exemption from registration provided in Section 4(2) of the Securities Act of 1933 as transactions not involving any public offering. The issuance of the common stock in exchange for such previously issued debt securities was effected in reliance on the exemption from registration provided in Section 3(a)(9) of the Securities Act for any security exchanged by the issuer with its existing securities holders when no commission or other remuneration is paid or given directly or indirectly for soliciting such exchange.

As a result of all of the foregoing transactions, as of August 16, 2013, CirTran Corporation had an aggregate of 4,020,491,910 shares issued and outstanding.

http://www.sec.gov/Archives/edgar/data/813716/000155724013000232/cirtran10-q2q2013.htm

Help me out does anyone else know if it makes a difference if the shares they were issued were restricted as said above?? If they are restricted can they still dump them??