CirTran's 10-K Filing Reports Jumps in Net Sales and Gross Profit in 2021

CirTran Corporation (OTC Pink: CIRX) announced today that it has completed the filing of Form 10-K for fiscal 2021 with the Securities and Exchange Commission.

CirTran's filing reported net sales of $2,923,269 for fiscal 2021, ended December 31, 2021, a 68.7 per cent increase over net sales of $1,732,625 in fiscal 2020. CirTran also reported a gross profit of $1,898,825 for fiscal 2021, a 127 per cent increase over a gross profit of $836,352 in fiscal 2020.

In addition, CirTran's 10-K showed a net income of $126,212 for the year ended December 31, 2021.

Iehab J. Hawatmeh, founder and president of CirTran, said his company "remained viable in 2021, pushing forward every day despite the difficulties of securing materials, manufacturing and marketing during an unprecedented pandemic.

"Much like small cars on interstates feel the wind created by large trucks on the highway," he said, "CirTran and other small companies had to battle harder than ever in very difficult times as our nation and the world fought Covid-19.

"Despite the increased costs of doing business, including the significant difficulties of selling leisure products in troubled times," Mr. Hawatmeh said, "CirTran soldiered on. Having returned to trading on the OTC in 2020, the company maintained momentum by continuing to progress with our exclusive agreement to manufacture and distribute adult lifestyle and entertainment products licensed by HUSTLER®," he said.

"In the first quarter of fiscal 2022, CirTran continued to move forward," Mr. Hawatmeh said. "Now, with the pandemic hopefully being less of a factor, we hope to be able to look forward with renewed optimism."

About CirTran Corporation
Founded in 1993, CirTran has evolved from its roots in electronics contract manufacturing to become a manufacturer and worldwide distributor of products for the adult lifestyle and entertainment marketplace.