SALT LAKE CITY -- CirTran Corp. said today that it has settled all major litigation in which it was a defendant, clearing the way for the filing of Form 10-KSB for fiscal 2005 with the SEC later this week.

The EMS company had been involved in a breach of contract filing dating to Sept. 11, 2003. The suit was settled for $200,000, on Feb. 24, according to court filings and company statements.
In September 2003, financial consultant Howard Salamon sued the company for $1.75 million in stock.

CirTran also settled with Sunborne, the owner of a building in Colorado Springs, Colo., to which CirTran expanded its operations in the late 1990s, for $200,000 in cash.

Settlements for both cases were reached in February. CirTran founder and president Iehab J. Hawatmeh said the settlements were for "far less than the original claims."

• Prev
• Next