SALT LAKE CITY -- CirTran Corp. today announced outside investors have poured $3.75 million in cash into the contract electronics manufacturer's operations in a move that also cut interest payments by more than half.

CirTran issued a $3.75 million convertible debenture to Highgate House Funds, Ltd., a  New York investment group. CirTran used the funds to retire separate notes of $1.7 million and $565,000, respectively.

CirTran gained a net cash of $1.24 million, which will be used to fund its operations in the U.S. and China," founder and president Iehab J. Hawatmeh said in a press statement.

CirTran will also save $254,000 -- 57% -- in annual interest payments.

Last week, CirTran reported EBITDA of $26,518 and positive shareholder equity for the first quarter of fiscal 2005.