SALT LAKE CITY -- CirTran Corp., an electronics contract manufacturer, today announced that a $1 million investment in the company has been made by a private California company.
ANAHOP, an Anaheim, CA-based company, has contracted to purchase 14,285,715 shares of CirTran's restricted common stock for $.07 per share without any registration rights.
The initial payment of $500,000 was made on May 24, and additional payments of $250,000 each scheduled to be completed on or before June 2 and June 30, 2006, respectively.
ANAHOP's principals will receive warrants to purchase additional shares of CirTran common stock, up to 15 million shares, at an exercise price of $0.15 per share, up to 5 million shares at $0.25 per share, and up to 10 million shares at an exercise price of $0.50 per share.