By Sheri Kasprzak
New York, May 30 - CirTran Corp. settled a $1 million private placement of its stock with Anahop, a private California-based company.
Anahop purchased 14,285,715 shares at $0.07 apiece.
So far, an initial payment of $500,000 has been made with another $250,000 to be made on June 2 and the final payment of $250,000 to be made on June 30.
Anahop also will receive warrants for up to 15 million shares, exercisable at $0.15 each, warrants for up to 5 million shares, exercisable at $0.25 each and warrants for up to 10 million shares, exercisable at $0.50 each.
Salt Lake City-based CirTran manufactures IT and consumer electronics products.
| Issuer: | CirTran Corp.
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| Issue: | Stock
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| Amount: | $1 million
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| Shares: | 14,285,715
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| Price: | $0.07
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| Warrants: | For 35 million shares
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| Warrant strike price: | $0.15 for 15 million; $0.25 for 5 million; $0.50 for 10 million
|
| Investor: | Anahop
|
| Settlement date: | May 30
|
| Stock symbol: | OTCBB: CIRT
|
| Stock price: | $0.04 at close May 29
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