CirTran Relieved of $1.4 Million in Royalties and Debt Obligations Involving Playboy Energy Drink in SettlementSALT LAKE CITY, Apr 09, 2013 (BUSINESS WIRE) -- CirTran Corporation (OTCBB: CIRC), an international contract manufacturer of energy beverages and consumer products, said today that it has been relieved of approximately $1.4 million in accrued royalties and other debt obligations claimed by former Play Beverages' partners involving Playboy Energy Drink line after a settlement. This settlement will improve CirTran's bottom line by that amount.CirTran President Iehab J. Hawatmeh said "the Play Beverages Parties," including Bev Group, LLC, CirTran Beverage Corporation, CirTran Corporation, Fadi Nora and himself, settled with "the LIB-MP parties," including LIB-MP Beverage, LLC, American Sales and Merchandising, LLC, and individuals Warner K. Depuy, Michael Liberty and Jeffrey Pollack.Under the agreement, the parties exchanged mutual general releases without payment by any party of any amounts to any other. Accordingly, Play Beverages Parties was relieved of the $1,375,618 payment obligation to the LIB-MP parties.Mr. Hawatmeh said that "the LIB-MP parties" had filed the petition that forced PlayBev into involuntary bankruptcy, but in December, 2012, the U.S. Bankruptcy Court (District of Utah) vacated the bankruptcy, freeing PlayBev to take legal actions to protect the product license granted for its Playboy Energy Drink.That was the first "three consecutive major legal victories for 'the Play Beverages Parties'," he said, setting the stage for this settlement. "Now we can go back to work to regain the momentum we had in establishing Playboy Energy Drink a 'player' in the international marketplace."Introduced in 2008, Playboy Energy Drink is manufactured and distributed exclusively by CirTran Beverage Corporation, a wholly owned subsidiary of CirTran Corporation under a product license from Playboy Enterprises to Play Beverages. It is currently available in more than 20 countries.About CirTran CorporationMarking its 20th year in business, CirTran Corporation (www.cirtran.com) has evolved from its roots as an international, full-service contract manufacturer. From its headquarters in Salt Lake City, where it operates, along with its Racore Technology (www.racore.com) electronics manufacturing subsidiary, from an ISO 9001:2000-certified facility, CirTran has grown in scope and geography. CirTran's operations include: CirTran-Asia, a subsidiary with principal offices in ShenZhen, China, which manufactures high-volume electronics, fitness equipment, and household products for the multi-billion-dollar direct response industry; CirTran Online, which offers products directly to consumers through major retail web sites; and CirTran Beverage, which has partnered with Play Beverages, LLC, to introduce and distribute the Playboy Energy Drink.This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement. CirTran disclaims any obligation or intention to update any forward-looking statement
Category: StocksTotal Views: 192 By : EditorUpdated: 06-01-2024
June 2024 - Top 10 Stocks to Watch
Although we are still more than two years away from June 2024, investors are closely watching the market for potential opportunities offering impressive returns or a substantial market resiliency. Selected for their market position, recent performance & growth.
1. Tradeweb Markets Inc (TW)
With a $24.15 billion market cap, Tradeweb Markets Inc (TW) is a stock to watch this month. Currently priced at $109.01, Tradeweb Markets Inc is a noteworthy sto... Continue Reading
Category: StocksTotal Views: 162 By : EditorUpdated: 06-01-2024
Company Overview
About Nikola Corporation Nikola Corporation trades on the Nasdaq under the ticker symbol NKLA and is a pioneer in industrial and automotive technologies. The trucks include hydrogen fuel cell and battery electric with the goal of changing the commercial transportation segment, and are all zero-emission vehicles. Nikola is a Nebraska-based company that protects the new era with an emphasis on sustainability and innovation in the trucking industry through environmentally friend... Continue Reading
Category: CryptoTotal Views: 195 By : EditorUpdated: 05-31-2024
Introduction to Cryptocurrency Investments
Cryptocurrency is still a fast moving and at times volatile market. That being said, let me share some variables that can be specifically regarded from June 2024 to July 2024. I'll take you through the current position on the market and future perspectives of the cryptocurrency, tell you about the most promising investment instruments, and finally, I will reveal some of the tricks of this digital universe – as seen by me.
Overview of the... Continue Reading
Category: MarketsTotal Views: 194 By : EditorUpdated: 05-31-2024
This has been the month wherein essential turns in the stock market have unfolded which may be determinative of future investment strategy for the remainder of the year in May 2024. This detailed recap reviews the top stock indexes and delivers stock moves, economic commentary, and statistics on the economy to give a well-rounded overview of the financial environment.
1. Performance of Major Stock Indices
As a result, the picture in May 2024 on the stock market was quite mixed in terms of ... Continue Reading
Category: StocksTotal Views: 208 By : EditorUpdated: 05-31-2024
Introduction To Fuel Cell Energy Inc.
FuelCell Energy, Inc. is a global leader in the design, manufacturing, operation and servicing of ultra-clean, efficient and reliable fuel cell power plants. The facilities use natural gas and biogas, creating sustainable power solutions. The company is on a mission to deliver sustainable, cost-effective and highly scalable energy in a variety of applications -- utility-scale power generation, on-site electricity for businesses and institutions, and a fle... Continue Reading
Category: EconomyTotal Views: 252 By : EditorUpdated: 05-31-2024
It is challenging to invest in the financial markets in 2024 without appreciating the mysteries of sector rotation. As the economic conditions are changing, one needs to look for opportunities and make necessary changes in investment strategies to take advantage of them. Since I have operated through several market cycles now, I know the power of selecting sectors in order to achieve the greatest returns with the least risks. Now let us discuss the way you can apply these strategies beneficially... Continue Reading
Category: BusinessTotal Views: 239 By : EditorUpdated: 05-31-2024
The impacts of economic change upon the small businesses have always been a subject of discussion because they determine the further development, income, and stability of the company. Whether dealing with uneven interest rates or changes in consumer behaviors, every shift in the economies' landscape comes with some risks and rewards. By observing the economic changes and their impact on companies, I will be able to discuss changes affecting small enterprises and how some firms can deal with ... Continue Reading
Category: InvestingTotal Views: 239 By : EditorUpdated: 05-31-2024
Dividend investing is yet another wise strategy through which investors can generate a steady stream of income in 2024's volatile environment. Now is the time to examine the ways that would allow to achieve the maximum income on dividend stocks.
Understanding Dividend Stocks
Dividend stocks are the shares of companies that pay out a portion of their profits to investors on a set schedule. These are called dividends, and they offer a steady stream of earnings for investors. In my opinio... Continue Reading
Category: Real EstateTotal Views: 239 By : EditorUpdated: 05-31-2024
The Sunbelt region, which comprises of the South and the Southwest of the United States, is in the center of real estate frenzy in 2024. This region enjoys a favorable warm climate for living and a favorable business climate for investment, with demands for both home and commercial properties steadily rising. The demand for Sun Belt cities increases more and more among people who live there, those who work and invest in real estate; this region is the hottest one for this year.
The Allure of ... Continue Reading
Category: EconomyTotal Views: 273 By : EditorUpdated: 05-31-2024
Trade means buying goods in one country for consumption and resale in another country, and this we know is an evolving industry. Global business is also still rapidly evolving at present because of various reasons which can be categorized under these three main categories, technology force, political force, and economic force. These changes have their advantages and disadvantages in business environments of various countries as well as in different governances.
The Evolving Landscape of Globa... Continue Reading