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: BusinessTotal Views: 25 By : EditorUpdated: 05-07-2024
Introduction
As we approach the midpoint of 2024, small businesses find themselves in a particularly complex economic landscape. This period is characterized by a unique blend of optimism and caution among entrepreneurs who are diligently navigating through a series of formidable challenges. Inflationary pressures are on the rise, squeezing margins and affecting pricing strategies across the board. Concurrently, the labor market presents its own set of difficulties, with talent acquisition an... Continue Reading
Introduction
As we delve into the financial intricacies of today's economy, it's clear that the landscape is as turbulent as ever. With a mix of market movements, economic indicators, and personal finance trends, there's a lot to unpack. Let's break down the key elements that are shaping the financial world on May 7, 2024.
Market Movements
Today's stock market showed a varied performance, with some indices experiencing slight gains and others facing minor losses. The... Continue Reading
Category: StocksTotal Views: 45 By : EditorUpdated: 05-07-2024
Introduction
Ambac Financial Group Inc. (NYSE: AMBC) is a company that often goes unnoticed in the bustling financial services sector, overshadowed by larger, more visible entities. However, for the astute investor willing to dig deeper, AMBC presents a unique case study. As a specialty insurance provider, Ambac plays a critical role in offering financial guarantees and other insurance products, which are integral to the smooth functioning of public and private sector finances. In this analys... Continue Reading
Category: StocksTotal Views: 80 By : EditorUpdated: 05-07-2024
In the ever-volatile landscape of the stock market, certain days stand out with remarkable performances by a select few stocks. Today, May 7, 2024, we witnessed a diverse group of companies leading the charge with impressive gains. Let's dissect these top performers and attempt to understand the driving forces behind their surge.
Top 10 Stock Performers: What's Driving Their Growth?
1. Golden Sun Education Group Limited (GSUN)
Change: +$2.14 (74.31%) | Price: $5.02
Golden Su... Continue Reading
Category: MarketsTotal Views: 85 By : EditorUpdated: 05-07-2024
Market Overview: Mixed Results Amid Economic Uncertainty
Today's stock market session ended with a mix of results, reflecting the complex interplay between economic indicators and corporate news. This vividly illustrates how delicate the balance is in the financial markets, where investor sentiment can shift dramatically based on the latest economic data or earnings reports from leading companies. Below, we provide a comprehensive analysis of the day's key highlights, including signif... Continue Reading
Category: BusinessTotal Views: 75 By : EditorUpdated: 05-07-2024
As we navigate through the digital transformation of retail, e-commerce continues to evolve at a breakneck pace. The year 2024 is no exception, with emerging trends and consumer behaviors shaping the landscape. In this post, we'll dissect the strategies that businesses must adopt to thrive in the ever-competitive e-commerce arena.
Understanding the 2024 E-commerce Landscape
Before we dive into the specific strategies that can propel your business forward, let's first set the stage ... Continue Reading
Category: StocksTotal Views: 121 By : EditorUpdated: 05-07-2024
Company Profile
Two Harbors Investment Corp, trading under the symbol TWO on the NYSE, is a real estate investment trust (REIT) that primarily focuses on investing in, financing, and managing mortgage servicing rights (MSRs), agency residential mortgage-backed securities (RMBS), and other financial assets. The company operates through its subsidiary, RoundPoint, and is headquartered in Saint Louis Park, Minnesota. As a REIT, Two Harbors is mandated to distribute at least 90% of its annual tax... Continue Reading
Category: StocksTotal Views: 119 By : EditorUpdated: 05-07-2024
In the ever-evolving landscape of the stock market, small-cap stocks can be a gold mine for investors seeking high yields without breaking the bank. As we navigate through 2024, let's delve into a curated list of 10 small-cap stocks trading under $15 that offer attractive dividend yields. But remember, high yields can be as enticing as they are perilous, so tread with caution and due diligence.
Understanding the Risks and Rewards
Before we jump into the list, it's crucial to unders... Continue Reading
Category: MarketsTotal Views: 124 By : EditorUpdated: 05-07-2024
As we navigate through the financial landscape of 2024, the whispers of a potential stock market crash grow louder, echoing the sentiments of various market pundits and economic indicators. This blog post aims to dissect the underpinnings of these concerns, providing a comprehensive analysis of the factors at play.
Market Valuation Concerns
John Hussman's Warning Bells
John Hussman, a highly experienced market analyst, has recently expressed significant concerns about the current va... Continue Reading
Category: StocksTotal Views: 130 By : EditorUpdated: 05-07-2024
As we navigate through the financial markets in May 2024, investors are constantly on the lookout for affordable stocks that offer significant growth potential. Stocks trading under $10 can be particularly attractive to those looking to diversify their portfolios without a hefty initial investment. Here, we delve into the top 5 performing stocks under $10 so far as of May 7, 2024, examining their share performance, company profiles, recent headlines, and technical analysis.
1. Nuvo Group Ltd.... Continue Reading