0001557240-13-000119.txt : 20130520 0001557240-13-000119.hdr.sgml : 20130520 20130520152434 ACCESSION NUMBER: 0001557240-13-000119 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 9 CONFORMED PERIOD OF REPORT: 20130331 FILED AS OF DATE: 20130520 DATE AS OF CHANGE: 20130520 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CIRTRAN CORP CENTRAL INDEX KEY: 0000813716 STANDARD INDUSTRIAL CLASSIFICATION: BEVERAGES [2080] IRS NUMBER: 680121636 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-49654 FILM NUMBER: 13858092 BUSINESS ADDRESS: STREET 1: 4125 SOUTH 6000 WEST CITY: WEST VALLEY CITY STATE: UT ZIP: 84128 BUSINESS PHONE: 8019635112 MAIL ADDRESS: STREET 1: 4125 SOUTH 6000 WEST CITY: WEST VALLEY CITY STATE: UT ZIP: 84128 FORMER COMPANY: FORMER CONFORMED NAME: VERMILLION VENTURES INC DATE OF NAME CHANGE: 20000502 10-Q 1 cirtran10-q1_q2013mar31.htm FORM 10-Q cirtran10-q1_q2013mar31.htm - Generated by SEC Publisher for SEC Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q

x	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the quarterly period ended March 31, 2013

¨	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the transition period from ___________ to ___________

Commission File Number 000-49654

CirTran Corporation
(Exact name of registrant as specified in its charter)

Nevada		68-0121636
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

4125 South 6000 West, West Valley City, Utah 84128
(Address of principal executive offices, including zip code)

(801) 963-5112
(Registrant’s telephone number, including area code)

n/a
(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer o	Accelerated filer ¨
Non-accelerated filer o	Smaller reporting company x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).

Yes

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. As of May 20, 2013, issuer had 3,240,165,910 outstanding shares of common stock, par value $0.001.

CIRTRAN CORPORATION

FORM 10-Q

For the Quarterly Period Ended March 31, 2013

INDEX

		Page

	PART I – FINANCIAL INFORMATION

Item 1	Financial Statements (unaudited)
	Condensed Consolidated Balance Sheets	3
	Condensed Consolidated Statements of Operations	4
	Condensed Consolidated Statements of Cash Flows	5
	Notes to Condensed Consolidated Financial Statements	6

Item 2	Management’s Discussion and Analysis of Financial Condition and Results of Operations	18

Item 3	Quantitative and Qualitative Disclosures About Market Risk	24

Item 4	Controls and Procedures	24
	PART II – OTHER INFORMATION
Item 6	Exhibits	25

Signatures		26

PART I – FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

CIRTRAN CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS

	March 31,		December 31,
	2013		2012
	(Unaudited)
ASSETS
Current assets
Cash and cash equivalents	$	10,721	$	7,883
Trade accounts receivable, net of allowance for doubtful
accounts of $832,093 and $832,093, respectively		83,285		162,468
Inventory, net of reserve of $2,256,223 and $2,256,399 , respectively		9,860		98,343
Other		81,115		7,866
Total current assets		184,981		276,560

Investment in securities, at cost		300,000		300,000
Long-term receivable, net of allowance of $1,582,895		-		-
Property and equipment, net		70,896		86,034
Other assets, net		109,774		224,488

Total assets	$	665,651	$	887,082

LIABILITIES AND STOCKHOLDERS' DEFICIT

Current liabilities
Checks written in excess of bank balance	$	8,925	$	17,118
Accounts payable		4,629,852		4,681,114
Related-party payable		1,017,368		955,656
Short-term advances payable		3,146,912		3,088,945
Accrued liabilities		2,454,257		2,445,167
Accrued payroll and compensation expense		2,698,604		2,599,533
Accrued interest		2,313,669		2,417,834
Deferred revenue		2,593,750		2,984,119
Derivative liability		458,475		829,090
Convertible debenture		3,007,228		3,132,855
Refundable customer deposits		200,000		200,201
Current maturities of long-term debt		281,585		236,585
Current liabilities to non-controlling interest holders		2,683,134		2,570,000
Note payable to stockholders and members		401,833		576,833
Total current liabilities		25,895,592		26,735,050

Total liabilities		25,895,592		26,735,050

Stockholders' deficit
CirTran Corporation stockholders' deficit:
Common stock, par value $0.001; authorized 4,500,000,000 shares;
issued and outstanding shares: 3,156,415,910 and 2,541,502,289		3,156,416		2,541,502
Additional paid-in capital		29,887,417		29,451,824
Subscription receivable		(17,000)		(17,000)
Accumulated deficit		(48,620,372)		(48,514,796)
Total CirTran Corporation and subsidiaries stockholders' deficit		(15,593,539)		(16,538,470)
Non-controlling interest		(9,636,402)		(9,309,498)
Total stockholders' deficit		(25,229,941)		(25,847,968)

Total liabilities and stockholders' deficit	$	665,651	$	887,082

The accompanying notes are an integral part of these condensed consolidated financial statements.

CIRTRAN CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

	Three months ended
	March 31,

	2013		2012


Net sales	$	868,152	$	618,700
Cost of sales		(234,515)		(238,150)
Royalty Expense		(37,494)		(521,004)

Gross profit		596,143		(140,454)

Operating expenses
Selling, general and administrative expenses		833,452		738,479
Non-cash compensation expense		29,872		19,897
Total operating expenses		863,324		758,376

Loss from operations		(267,181)		(898,830)

Other income (expense)
Interest expense		(209,495)		(255,661)
Gain on settlement of debt		38,352		-
Gain on derivative valuation		5,844		(133,605)
Total other expense, net		(165,299)		(389,266)

Net loss		(432,480)		(1,288,096)

Net loss attributable to non-controlling interest		326,904		153,970

Net loss attributable to CirTran Corporation and subsidiaries	$	(105,576)	$	(1,134,126)

Basic and diluted loss per common share	$	(0.00)	$	(0.00)
Basic and diluted weighted-average
common shares outstanding		2,864,128,141		1,827,524,511

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

CIRTRAN CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

For the Three Months Ended March 31,		2013		2012

Cash flows from operating activities
Net loss	$	(432,480)	$	(1,288,096)
Adjustments to reconcile net loss to net
cash used in operating activities:
Depreciation and amortization		15,138		27,509
Inventory reserves		(176)		-
Non-cash compensation expense		-		19,897
Gain on derivative valuation		5,844		133,605
Gain on settlement of debt		38,352		-
Loan fees		-		5,000
Changes in assets and liabilities:
Trade accounts receivable		79,183		(30,314)
Inventory		88,659		186,593
Other current assets		(73,249)		(32,494)
Other assets		114,714		(39,028)
Accounts payable		(51,262)		530,976
Related-party payable		61,712		66,118
Accrued liabilities		56,059		516,341
Accrued payroll and compensation expense		149,071		-
Refundable customer deposits		(201)		-
Accrued interest		184,986		-
Deferred revenue		(390,369)		(68,765)
Net cash provided by (used in) operating activities		(154,019)		27,342

Cash flows from financing activities
Proceeds from notes payable		-		25,000
Checks written in excess of bank balance		(8,194)		(118,130)
Proceeds from non-controlling interest		113,134		15,000
Proceeds from short-term advances		117,365		1,000
Payments on convertible debenture accrued interest		(26,854)		-
Payments on short-term advances		(38,599)		(99,000)
Net cash provided by (used in) financing activities		156,852		(176,130)

Net increase (decrease) in cash and cash equivalents		2,833		(148,788)
Cash and cash equivalents at beginning of period		7,883		173,780

Cash and cash equivalents at end of period	$	10,716	$	24,992

Supplemental disclosure of cash flow information:
Cash paid during the period for interest	$	26,851	$	-

Noncash investing and financing activities:
Debt and accrued liabilities converted to equity	$	1,050,508	$	-

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

CIRTRAN CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

NOTE 1 – BASIS OF PRESENTATION

The accompanying unaudited condensed consolidated financial statements include the accounts of CirTran Corporation and its subsidiaries (the “Company”). These financial statements have been prepared in accordance with Article 10 of Regulation S-X promulgated by the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to such rules and regulations. These statements should be read in conjunction with the Company’s annual financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. In particular, the Company’s significant accounting policies were presented as Note 2 to the consolidated financial statements in that Annual Report. In the opinion of management, all adjustments necessary for a fair presentation have been included in the accompanying condensed consolidated financial statements and consist of only normal recurring adjustments. The results of operations presented in the accompanying condensed consolidated financial statements for the three months ended March 31, 2013, are not necessarily indicative of the results that may be expected for the 12 months ending December 31, 2013.

NOTE 2 - REALIZATION OF ASSETS

The accompanying condensed consolidated financial statements have been prepared on the assumption that the Company will continue as a going concern. The Company had a net loss of $432,480 and of $1,288,096 for the three months ended March 31, 2013 and 2012, respectively. As of March 31, 2013, the Company had an accumulated deficit of $48,620,372. In addition, the Company used cash in operations in the amount of $154,019 during the three months ended March 31, 2013 and provided cash from operations in the amount of $27,342 during the three months ended March 31, 2012. The Company also had a negative working capital balance of $25,710,611 as of March 31, 2013, and $26,458,490 as of December 31, 2012. These conditions raise substantial doubt about the Company’s ability to continue as a going concern.

The Company’s ability to continue energy drink distribution, its principal source of revenue, is subject to interruption or termination because of ongoing disputes respecting the status of the Play Beverages, LLC, or PlayBev license to market Playboy-licensed energy drinks. The Company is continuing its suit against Playboy Enterprises, Inc., or Playboy in Illinois in an effort to enjoin Playboy’s termination of the license so the Company will be able to continue its beverage distribution segment. If the Playboy licensing dispute is not resolved satisfactorily through a negotiated settlement or litigation in such proceeding, PlayBev would be required to terminate its beverage distribution activities, which are currently the source of the Company’s principal revenues. Such termination may require the Company to cease its activities and seek protection from creditors.

In view of the matters described in the preceding paragraphs, recoverability of a major portion of the recorded asset amounts shown in the accompanying consolidated balance sheets is dependent upon continued operations of the Company, which in turn is dependent upon the Company’s ability to meet its financing requirements on a continuing basis, to maintain or replace present financing, to acquire additional capital from investors, and to succeed in its future operations. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence.

The Company believes that its beverage business segment has the potential to have a substantial impact on its overall business. The Company plans to focus on the beverage business and the contract manufacturing business. For the beverage business, the Company plans to sell existing products and develop new products under the license agreement with Playboy to a globally expanding market. With regard to contract manufacturing, the Company’s goal is to provide customers with manufacturing solutions for both new and more mature products, as well as across product generations.

The Company provides product marketing services to the direct response and retail markets for both proprietary and nonproprietary products. This segment provides campaign management and marketing services for the beverage distribution, direct response, and retail markets. The Company intends to continue to provide marketing and media services to support its own product efforts and offer to customers marketing service in channels involving television, radio, print media, and the Internet. The Company intends to serve the electronics assembly and manufacturing industries, although it anticipates that its focus will shift more to providing services on a subcontract basis.

NOTE 3 - INVENTORIES

Inventories are stated at the lower of average cost or market and consisted of the following:

		March 31,		December 31,
		2013		2012
Raw Materials	$	1,675,341	$	1,691,500
Work in Process		148,573		221,225
Finished Goods		442,169		442,017
Allowance / Reserve		(2,256,223)		(2,256,399)
Totals	$	9,860	$	98,343

NOTE 4 – RELATED-PARTY TRANSACTIONS

Transactions Involving Officers, Directors, and Stockholders - In 2007, the Company appointed Fadi Nora to its Board of Directors. In addition to compensation the Company normally pays to nonemployee members of the Board, Mr. Nora is entitled to a quarterly bonus equal to 0.5% of any gross sales earned by the Company directly through Mr. Nora’s efforts. As of March 31, 2013, the Company owed $64,916 under this arrangement. As of March 31, 2013, the Company owed Mr. Nora $1,040,829 in the form of unsecured advances. These advances and short-term bridge loans were approved by the Board of Directors under a 5% borrowing fee. The borrowing fees were waived by Mr. Nora on these loans. In addition, the Company owed Mr. Nora $366,635 in accrued liabilities as of March 31, 2013, for selling, general, and administrative expenses that were paid for by Mr. Nora on a personal credit card.

The Company has agreed to issue 2,400,000 options to Mr. Nora as compensation for services provided as a Director of the Company. The terms of the director agreement require the Company to grant to Mr. Nora options to purchase 2,400,000 shares of the Company’s stock each year, with the exercise price of the options being the market price of the Company’s common stock as of the grant date. During the three months ended March 31, 2013, the Company accrued for 2,400,000 stock options relating to the director agreement with Mr. Nora. The fair market value of the options was $4,069, using the following assumptions: 7.0-year term, estimated volatility of 224.82%, and a discount rate of 0.0% (see also Note 10).

In 2007, the Company issued a 10% promissory note to a family member of the Company President in exchange for $300,000. The note was due on demand after May 2008. During the three months ended March 31, 2013, the Company made no payments towards the outstanding note. At March 31, 2013, the principal amount owing on the note was $151,833. On March 31, 2008, the Company issued to this same family member, along with four other Company shareholders, promissory notes totaling $315,000. The family member’s note was for $105,000. Under the terms of all the notes, the Company received total proceeds of $300,000 and agreed to repay the amount received plus a 5% borrowing fee. The notes were due April 30, 2008, after which they were due on demand, with interest accruing at 12% per annum. During the three months ended March 31, 2013, the Company made no payments towards the outstanding notes. The principal balance owing on the promissory notes as of March 31, 2013, totaled $72,465.

On April 2, 2009, the Company President and a Director of the Company borrowed from a third party a total of $890,000 in the form of four short-term promissory notes. The Company President and the Director of the Company signed personally for the notes. Because the loans were used to pay obligations of the Company, the Company has assumed full responsibility for the notes. Two of the notes were for a term of 60 days, with a 60-day grace period; a third note was for a term of 90 days; and a fourth note was for 24 days. Loan fees totaling $103,418 were incurred with the issuance of the notes and are payable upon maturity of the notes. At March 31, 2013, these notes comprise a portion of short-term advances payable of $3,146,911. As of March 31, 2013, all four notes were in default and are accruing interest at the default rate of 36% per year.

The Company has agreed to issue 6,000,000 options each year to the Company President as compensation for services provided as an officer of the Company. The terms of the employment agreement require the Company to grant to the Company President options to purchase 6,000,000 shares of the Company’s stock each year, with the exercise price of the options being the market price of the Company’s common stock as of the grant date. During the three months ended March 31, 2013, the Company accrued for 6,000,000 stock options relating to the employee agreement with Mr. Hawatmeh. The fair market value of the options was $10,171, using the following assumptions: estimated 7.0-year term, estimated volatility of 224.82%, and a discount rate of 0.0% (see also Note 10).

As of March 31, 2013, the Company owed the Company President a total of $179,773 in short-term advances payable and 30,000,000 stock options with an aggregated fair value at time of grant of $154,537. These advances and short-term bridge loans were approved by the Board of Directors under a 5% borrowing fee. The borrowing fees were waived by the Company’s President on these loans.

Sublease - In an effort to operate more efficiently and focus resources on higher margin areas of the Company’s business, on March 5, 2010, the Company and Katana Electronics, LLC, a Utah limited liability company (“Katana”), entered into certain agreements (collectively, the “Agreements”) to reduce the Company’s costs. The Agreements include an Assignment and Assumption Agreement, an Equipment Lease, and a Sublease Agreement relating to the Company’s property. Pursuant to the terms of the Sublease, the Company agreed to sublease a certain portion of the Company’s premises to Katana, consisting of the warehouse and office space used as of the close of business on March 4, 2010. The term of the Sublease was for two months with automatic renewal periods of one month each. The base rent under the Sublease is $8,500 per month. The Sublease contains normal and customary use restrictions, indemnification rights and obligations, default provisions, and termination rights. Under the Agreements signed, the Company continues to have rights to operate as a contract manufacturer in the future in the U.S. and offshore. On July 1, 2011, Katana had assumed the full lease payment, and the Company agreed to pay Katana $5,000 per month for the use of office space and utilities. The Company recorded a rent expense of $15,000 and $15,000 for the three months ended March 31, 2013 and 2012, respectively.

NOTE 5 - COMMITMENTS AND CONTINGENCIES

Litigation and Claims - Various vendors and service providers have notified the Company that they believe they have claims against the Company totaling approximately $2,250,000. The Company has determined the probability of realizing any loss on these claims is remote. The Company has made no accrual for these claims and is currently in the process of negotiating the dismissal of these claims.

Registration Rights Agreements - In connection with the Company’s issuance of convertible debentures to YA Global Investments, L.P., formerly known as Cornell Capital Partners, L.P. (“YA Global”), the Company granted to YA Global certain registration rights, pursuant to which the Company agreed to file a registration statement to register the resale of shares of the Company’s common stock issuable upon conversion of the debentures. The Company agreed to keep the registration statement effective until all of the shares issuable upon conversion of the debenture have been sold. The Company has not accrued a liability for potential losses.

Previously, YA Global has agreed to extensions of the filing deadlines inherent in the terms of the convertible debentures mentioned above. On January 24, 2011, the Company and YA Global entered into a forbearance agreement related to the convertible debentures issued by the Company to YA or its predecessor entities.

YA Global Forbearance Agreements - On September 25, 2010, YA Global filed a lawsuit against the Company asserting claims for breach of contract, breaches of the uniform commercial code, and replevin. YA Global sought a judgment in the amount of $4,193,380, plus interest and attorneys fees, as well as a writ of replevin to compel the Company to turn over equipment and other property that YA Global claims was pledged as collateral to secure obligations owing to YA Global.

On January 24, 2011, the Company entered into a forbearance agreement with YA Global, including a confession of judgment in its favor. On February 23, 2011, the court entered judgment based on the confession of judgment against the Company in the principal amount of $3,161,354, plus interest of $825,858.

On July 22, 2011, YA Global filed a motion in the ABS lawsuit (discussed below) seeking an order clarifying its position with respect to ABS and staying enforcement of that court’s order that the Company pay approximately $35,000 in legal fees to ABS. In its motion, YA Global notified the Company that it intended to conduct a secured party’s public auction of all of the Company’s assets. YA Global also informed the Company that it had defaulted under the January 2011 Forbearance Agreement and declared that all of the Company’s obligations to YA Global were immediately due and owing. Further, YA Global stated that it intended to commence action to collect on the Company’s obligations and instructed it to assemble its assets.

At a hearing held on August 3, 2011, in the ABS reorganization proceeding on YA Global’s motion to stay enforcement, YA Global noted that the date of the proposed secured party’s public auction was August 30, 2011. At the same time, YA Global notified the Company that the proposed sale of assets would be held on August 30, 2011.

At the hearing in the ABS matter, the Bankruptcy Court denied YA Global’s motion to stay the payment of attorneys’ fees by the Company. Subsequently, the parties to the January 2011 settlement with YA Global entered into an agreement whereby YA Global agreed to cancel the proposed asset sale without waiver.

On September 30, 2011, YA Global directed the Company to assemble the collateral in order to enable it to take possession on or before October 6, 2011. Following negotiations with YA Global, the Company confirmed its indebtedness to YA Global and arranged for it to take possession of collateral on October 17, 2011, on which date, all accounts receivable, collections, and other proceeds and products of the collateral would be held in trust by the Company for YA Global and immediately forwarded to it. Before the Company was required to surrender possession of the collateral, it initiated negotiations to obtain YA Global’s forbearance from collection.

On March 22, 2012, the Company entered into a formal forbearance agreement with YA Global, dated as of March 1, 2012 (the “2012 YA Global Forbearance Agreement”), in which it ratified its previous obligations under the debentures and agreed to pay the debentures under the following payment plan: $25,000 at signing the 2012 YA Global Forbearance Agreement, $25,000 per month in March through June 2012, $50,000 per month in July through September 2012, $75,000 in the months of October and November 2012, $100,000 per month in the months of December 2012 through May 2013, $125,000 per month in the months of June through December 2013, and the balance in December 2014 (the “Extended Termination Date”). In addition to the above minimum payments to YA Global, the Company is required to pay monthly excess cash flow, to the extent cumulatively available, consisting of consolidated earnings before interest, taxes, depreciation and amortization, less cash deposits for product orders received but not yet shipped, actual cash taxes paid, actual cash principal and interest paid, and reasonable out-of-pocket cash paid together with reasonable cash reserves in an amount not to exceed 5% of total net sales, provided that such excess cash flow payments shall not to exceed $50,000 in March 2012 and $25,000 per month in April through September 2012.

The Company continues to have the right, subject to the consent of YA Global, to pay all or any portion of the payments listed above in common stock, with the conversion price to be used to determine the number of shares being equal to the lowest closing bid price of the Company’s common stock during the 20 trading days prior to the payment date. The amount applied as a payment on the note and accrued interest will be adjusted to the value of the actual proceeds from the sale of the stock by YA Global, less costs associated with the sale.

YA Global agreed to forbear from enforcing its rights and remedies as a result of the existing defaults and/or converting the debentures into shares of the Company’s common stock, until the earlier of the Company’s default under the 2012 YA Global Forbearance Agreement or the Extended Termination Date.

On February 22, 2013, the Company entered into a Ratification Agreement with YA Global (the “2013 Ratification Agreement”). Under the 2013 Ratification Agreement, the
Company ratified the obligations under three existing Convertible Debentures dated May 26, 2005, December 30, 2005, and August 23, 2006, and agreed to amend, restate, and consolidate the obligations evidenced thereby into a Consolidated Debenture.

The 2013 Ratification Agreement also provides for a new payment schedule under the Consolidated Debenture that replaces the payment schedule that had been agreed to in a March 1, 2012, Forbearance Agreement among the parties. Under the 2013 Ratification Agreement payment schedule, the Company is required to make monthly payments, to be applied first to accrued interest and then to principal, in the amount of $100,000 per month, commencing in April 2013. The amount of the Company’s required monthly cash payment shall be reduced in an amount equal to the amount credited to the lender against the obligation as a result of the lender’s exercise of the right to convert the outstanding balance due under the debentures into common stock, as provided in the original convertible debentures as well as in the Consolidated Debenture. Any amount credited against the debenture obligation in excess of $100,000 per month shall be credited against the amounts due in the next succeeding month.

During the three months ended March 31, 2013, the Company issued common stock valued at $387,836 towards the required payments.

Delinquent Payroll Taxes, Interest, and Penalties - In November 2004, the IRS accepted the Company’s Amended Offer in Compromise (the “Offer”) to settle delinquent payroll taxes, interest, and penalties. The acceptance of the Offer required the Company to pay $500,000. Additionally, the Offer required the Company to remain current in its payment of taxes for five years and not claim any net operating losses for the years 2001 through 2015, or until the Company pays taxes on future profits in an amount equal to the taxes waived by the Offer of $1,455,767. The Company has defaulted on the original agreement and is currently working with the IRS to pay the 2009 tax liabilities.

Disputed Account Payable - The Company is in disagreement with its former legal counsel over charges incurred and the amount due to this provider for billed services, charges and interest expense. The Company is vigorously working with this provider to settle the outstanding balance. Management assesses the likelihood to be remote that it will not be able to settle the balance at or below the currently accrued balance.

Employment Agreements - On August 1, 2009, the Company entered into a new employment agreement with Mr. Hawatmeh, the Company’s President. The term of the employment agreement continues until August 31, 2014, and automatically extends for successive one-year periods, with an annual base salary of $345,000. The employment agreement also grants to Mr. Hawatmeh options to purchase a minimum of 6,000,000 shares of the Company’s stock each year, with the exercise price of the options being the market price of the Company’s common stock as of the grant date. The employment agreement also provides for health insurance coverage, cell phone, car allowance, life insurance, and director and officer liability insurance, as well as any other bonus approved by the Board. The employment agreement includes additional incentive compensation as follows: a quarterly bonus equal to 5% of the Company’s earnings before interest, taxes, depreciation, and amortization for the applicable quarter; bonus(es) equal to 1.0% of the net purchase price of any acquisitions completed by the Company that are directly generated and arranged by Mr. Hawatmeh; and an annual bonus (payable quarterly) equal to 1% of the gross sales, net of returns and allowances, of all beverage products of the Company and its affiliates for the most recent fiscal year. During the three months ended March 31, 2013 and 2012, the Company incurred $10,171 and $5,582, respectively, of non-cash compensation expense related to accrual for employee stock options to be awarded per the employment contract with the president of the Company.

Pursuant to the employment agreement, Mr. Hawatmeh’s employment may be terminated for cause or upon death or disability, in which event, the Company is required to pay Mr. Hawatmeh any unpaid base salary and unpaid earned bonuses. In the event that Mr. Hawatmeh is terminated without cause, the Company is required to pay to Mr. Hawatmeh: (i) within 30 days following such termination, any benefit, incentive, or equity plan, program, or practice (the “Accrued Obligations”) paid when the bonus would have been paid Mr. Hawatmeh if employed; (ii) within 30 days following such termination (or on the earliest later date as may be required by Internal Revenue Code Section 409A to the extent applicable), a lump sum equal to 30 months of annual base salary; (iii) bonus(es) owing under the employment agreement for the two-year period after the date of termination (net of an bonus amounts paid as Accrued Obligations) based on actual results for the applicable quarters and fiscal years; and (iv) within 12 months following such termination (or on the earliest later date as may be required by Internal Revenue Code Section 409A to the extent applicable), a lump sum equal to 30 months of annual base salary; provided that if Mr. Hawatmeh is terminated without cause in contemplation of, or within one year, after a change in control, then two times such annual base salary and bonus payment amounts.

On May 1, 2009, PlayBev, a consolidated variable interest entity, entered into compensation agreements with its managers, Mr. Hawatmeh and Mr. Nora. The agreed compensation consists of a monthly fee of $10,000 for each manager, reimbursement of reasonable expenses on its behalf, and a car allowance for Mr. Nora of $1,000 per month to cover the cost of use, fuel, and repairs. The Company has accrued $1,008,150 in compensation, which is included in related-party payables as of March 31, 2013.

Advanced Beauty Solutions, LLC - In connection with prior litigation with Advanced Beauty Solutions, or ABS, ABS claimed nonperformance by the Company and filed an adversary proceeding in its bankruptcy case proceeding in the United States Bankruptcy Court, Central District of California, San Fernando Valley Division. On March 17, 2009, the Bankruptcy Court entered judgment in favor of ABS and against the Company in the amount of $1,811,667, plus interest. On September 11, 2009, the Bankruptcy Court denied the Company’s motion to set aside the judgment.

On September 8, 2010, the Company executed an Assignment of Copyrights, thereby assigning Copyright Registration No. TX-6-064-955, Copyright Registration No. TX-6-064-956, and Copyright to the True Ceramic Pro - Live Ops (TCPS) infomercial and related master tapes (collectively the “Copyrights”) to ABS, without reservation or exclusion, making ABS the owner of the Copyrights.

On February 23, 2011, the Company filed a Motion to Declare Judgment Fully Satisfied or Alternatively to Recoup Mutual Debts, requesting that the court determine that its assignment of the Copyrights resulted in full satisfaction of the ABS judgment. On March 3, 2011, ABS brought a Motion for Order to Show Cause re Civil Contempt alleging that the Company had failed to make payments on ABS’s judgment in violation of the court’s orders. At the hearing on April 6, 2011, the court denied the motion to declare the judgment fully satisfied and granted ABS’s motion, but did not hold the Company in civil contempt. The court also set a hearing on the ABS Motion for the Order to Show Cause for July 8, 2011, regarding the Company’s compliance with collection orders, which the parties stipulated should be postponed until August 3, 2011. The parties attended mediation on July 11, 2011, but no formal settlement resulted. At the hearing in August, the court found that a basis existed to hold the Company in contempt and set an evidentiary hearing for October 6, 2011, to determine whether to issue a contempt citation. The Company appealed the denial of its motion to declare judgment satisfied.

On March 22, 2012, the Company and ABS entered into a formal forbearance agreement, dated as of March 1, 2012 (the “ABS Forbearance Agreement”), whereby ABS agreed to take no further judgment enforcement actions in consideration of the payment of $25,000 upon execution of the definitive ABS Forbearance Agreement and satisfaction of applicable conditions precedent. The ABS Forbearance Agreement calls for the Company to pay $7,500 per month for 46 consecutive months (except for a payment of $15,000 in December 2012), commencing in March 2012, with the unpaid balance, as finally determined as provided below, due and payable in January 2016. No interest on the principal would accrue unless the note is in default, in which case, it would bear interest at 10% per annum from the date of the ABS Forbearance Agreement. In addition, the Company stipulated to an additional judgment for attorney’s fees incurred in negotiating the ABS Forbearance Agreement and entering into the related definitive agreements and in related post-judgment collection efforts. The obligation to pay $1,835,000 under the ABS Forbearance Agreement would be secured by an encumbrance on all of the Company’s assets, subject to a prior lien and encumbrance in favor of YA Global.

The principal amount of $1,835,000 due under the ABS Forbearance Agreement would be reduced by the greater of the amount of credit granted in the bankruptcy proceedings for the value of the intellectual property the Company previously conveyed to ABS and the amount received by ABS from the sale of such intellectual property to a third party during the term of the ABS Forbearance Agreement, plus the amount of any distribution to which the Company is entitled as a creditor of ABS, provided, however, that in no event would the amount due under the ABS Forbearance Agreement be reduced below $90,000, which is the amount payable during the first 12 months under the ABS Forbearance Agreement. ABS entered into a subordination agreement subordinating the obligation under the ABS Forbearance Agreement in favor of the obligations and first-priority security interest of YA Global. The Company conveyed to ABS the trademarks and intellectual property previously conveyed by ABS to the Company.

The Company’s appeal of the approximately $1.8 million judgment has been remanded in the ABS bankruptcy proceedings to conclusively determine the amount of credit due the Company for the conveyance of the intellectual property. Except for the determination of the fair market value of the intellectual property and any enforcement or collection proceedings that may be required under the ABS Forbearance Agreement, all litigation and disputes between ABS and its affiliates, on the one hand, and the Company and its affiliates, on the other hand, would be dismissed, including the pending order to show cause regarding contempt against the Company, its subsidiaries, and its President.

The Company has assigned to ABS its creditor claim against the estate of ABS, to the extent of the balance due under the ABS Forbearance Agreement. Any distribution from the ABS estate in excess of the adjusted amounts due under the ABS Forbearance Agreement will be paid to the Company. Pending the determination of the amount of the credit due for the value of the intellectual property conveyed, the Company accrued a balance of $90,000 for the minimum required payment under the ABS Forbearance Agreement. It is reasonably possible that this estimate may change in the near future based on the events of the ABS settlement.

The Company entered into a forbearance agreement with ABS on March 1, 2012. As part of that agreement, among other things, the Company agreed to a settlement amount that is to be reduced by any distribution to which the Company was entitled as a creditor of ABS. Under the ABS Forbearance Agreement the minimum amount due ABS is $90,000, which is the amount payable during the first 12 months under the ABS Forbearance Agreement. The Company accrued $90,000 as of December 31, 2011 and made payments of $45,000. The royalty accrual as of March 31, 2013 was $45,000.

NOTE 6 - NOTES PAYABLE

In February 2012, the Company issued an 18% interest, 90-day, $30,000 promissory note to an investor. The principal balance included a $5,000 borrowing fee. The promissory note along with accrued interest was converted to 32,000,000 shares of stock in January 2013. There was no outstanding balance as of March 31, 2013.

NOTE 7 - FINANCIAL INSTRUMENTS

The Company has financial instruments that are considered derivatives or contain embedded features subject to derivative accounting. Embedded derivatives are valued separately from the host instrument and are recognized as derivative liabilities in the Company’s balance sheet. The Company measures these instruments at their estimated fair value and recognizes changes in their estimated fair value in results of operations during the period of change. The Company has estimated the fair value of these embedded

derivatives for convertible debentures and associated warrants using a multinomial lattice model as of March 31, 2013, and December 31, 2012, and used the Black-Scholes model prior to that. The fair values of the derivative instruments are measured each quarter. As of March 31, 2013, and December 31, 2012, the fair market value of the derivatives aggregated $458,475 and $829,090, respectively.

NOTE 8 - FAIR VALUE MEASUREMENTS

For asset and liabilities measured at fair value, the Company uses the following hierarchy of inputs:

· Level one -- Quoted market prices in active markets for identical assets or liabilities;

· Level two -- Inputs other than level one inputs that are either directly or indirectly observable; and

· Level three -- Unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use.

Liabilities measured at fair value on a recurring basis at March 31, 2013, are summarized as follows:

	Level 1		Level 2		Level 3		Total

Fair value of derivatives	$	-	$	458,475	$	-	$	458,475

Liabilities measured at fair value on a recurring basis at December 31, 2012, are summarized as follows:

	Level 1		Level 2		Level 3		Total

Fair value of derivatives	$	-	$	829,090	$	-	$	829,090

NOTE 9 - STOCKHOLDERS’ DEFICIT

The Company’s stockholders’ deficit increased by $105,576 as a result of the net loss attributable to CirTran Corporation for the three months ended March 31, 2013. Noncontrolling interest in consolidated subsidiaries increased stockholders’ deficit by $326,904 for the three months ended March 31, 2013, due to the operating losses of the non-controlling subsidiary.

Loss Per Share - Basic loss per share is calculated by dividing net loss available to common shareholders by the weighted-average number of common shares outstanding during each period. Diluted loss per share is similarly calculated, except that the weighted-average number of common shares outstanding would include common shares that may be issued subject to existing rights with dilutive potential when applicable. The Company had 4,313,029,000 and 4,401,029,000 in potentially issuable common shares at March 31, 2013, and December 31, 2012, respectively. These potentially issuable common shares were excluded from the calculation of diluted loss per share because the effects were antidilutive.

NOTE 10 – CAPITAL STOCK

In January 2013, YA Global Investments (formerly known as Cornell Capital Partners, LP) elected to convert debt on two occasions in the amount of $25,536 and $100,000 of their convertible debt into 125,536,000 shares of the Company’s common stock at a price of $0.001 per share.

In January 2013, three unrelated parties elected to convert debt in the amount of $32,000, $20,000, $30,000, $29,000 and $35,000 into 146,000,000 shares of the Company’s common stock at prices ranging from $0.0009 to $0.001 per share.

In January through March 2013, a related party elected to convert debt in the amount of $25,000, $25,000, $25,000 and $25,000 into 100,000,000 shares of the Company’s common stock at a price of $0.001 per share.

In January 2013, an unrelated party elected to convert debt in the amount of $28,000 and $22,100 into 20,000,000 shares of the Company’s common stock at prices ranging from $0.0017 to $0.0020 per share.

In February 2013, an unrelated party was issued 4,000,000 shares of the Company’s stock for $20,800 in debt that was settled during the year ended December 31, 2010 at a price of $0.0063 per share.

In March 2013, YA Global Investments (formerly known as Cornell Capital Partners, LP) elected to convert debt on three occasions in the amount of $100,000, $67,200, and $95,100 of their convertible debt into 219,377,621 shares of the Company’s common stock at prices ranging from $0.0011 to $0.0013 per share.

NOTE 11 - STOCK OPTIONS AND WARRANTS

Stock Incentive Plans - As of March 31, 2013, a total of 316,200,000 shares of common stock had been issued from the 2012 Stock Incentive Plan, out of which a maximum of 403,000,000 can be issued. The Company’s Board of Directors administers the plan and has discretion in determining the employees, directors, independent contractors, and advisors who receive awards, the type of awards (stock, incentive stock options, nonqualified stock options, or share purchase rights) granted, and the term, vesting, and exercise prices.

Employee Options - During the three months ended March 31, 2013 and 2012, the Company did not grant options to purchase shares of common stock to employees.

During the three months ended March 31, 2013, the Company did not issue any employee options.

A summary of the stock option activity under the plans as of March 31, 2013, and changes during the three months then ended is presented below:

				Weighted-
		Weighted-		Average	Aggregate
		Average		Remaining	Intrinsic
	Shares	Exercise Price		Contractual Life	Value
Outstanding at December 31, 2012	3,600,000	$	0.0123	0.013	$	-
Granted	-		-
Exercised	-		-
Expired	(3,600,000)		0.0123			-
Outstanding at March 31, 2013	-	$	-	-	$	-

Exercisable at March 31, 2013	-	$	-	-	$	-

As of March 31, 2013, and December 31, 2012, the Company had a total of 104,800,000 and 88,000,000 options not issued but accrued, respectively.

Warrants - On January, 24, 2011, as part of the Forbearance Agreement, a warrant to purchase 25,000,000 shares of common stock was issued to YA Global. The warrant had an exercise price of $0.02 per share and vested immediately.

The Company currently has an insufficient number of authorized shares to enable warrant holders to fully exercise their warrants, assuming all warrants holders desired to do so. Accordingly, the warrants are subject to derivative accounting treatment and are included in the derivative liability related to the convertible debentures (see Note 8).

NOTE 12 - SEGMENT INFORMATION

Segment information has been prepared in accordance with ASC 280-10, Disclosure about Segments of an Enterprise and Related Information. The Company has four reportable segments: electronics assembly, contract manufacturing, marketing and media, and beverage distribution. The electronics assembly segment manufactures and assembles circuit boards and electronic component cables. The contract manufacturing segment manufactures, either directly or through foreign subcontractors, various products under manufacturing and distribution agreements. The marketing and media segment provides marketing services to online retailers, along with beverage development and promotional services to PlayBev. The beverage distribution segment manufactures, markets, and distributes Playboy-licensed energy drinks domestically and internationally.

The accounting policies of the segments are consistent with those described in the summary of significant accounting policies. The Company evaluates performance of each segment based on earnings or loss from operations. Selected segment information is as follows:

	Electronics	Contract	Marketing	Beverage
	Assembly	Manufacturing	and Media	Distribution	Total
Three Months Ended March 31, 2013
Sales to external customers	$ -	$ 31,132	$ -	$ 837,020	$ 868,152
Segment income (loss)	21,509	(12,454)	-	423,425	432,480
Segment assets	338,589	37,089	-	218,337	594,015
Depreciation and amortization	4,331	10,807	-	-	15,138

Three Months Ended March 31, 2012
Sales to external customers	$ -	$ 31,084	$ -	$ 587,616	$ 618,700
Segment income (loss)	(254,674)	1,923	(15)	(1,035,330)	(1,288,096)
Segment assets	380,021	148,887	-	377,105	906,013
Depreciation and amortization	5,165	22,344	-	-	27,509

NOTE 13 - GEOGRAPHIC INFORMATION

The Company currently maintains $81,276 of capitalized tooling costs in China. All other revenue-producing assets are located in the United States of America. Revenues are attributed to the geographic areas based on the location of the customers purchasing the products.

NOTE 14 - SUBSEQUENT EVENTS

In April 2013, the Company entered into a Settlement Agreement and Mutual Release with LIB-MP. Under the settlement and release agreement, the parties exchanged mutual general releases without the payment by any party of any amounts to any other. Accordingly, the Company was relieved of approximately $1.4 million in amounts due LIB-MP without any payment.

In April 2013, the Company issued 20,000,000 shares of common stock at $0.001 per share to settle debt to a vendor of $20,000 and 33,750,000 shares of common stock at $0.0008 per share to settle debt to a related party of $33,750.

On April 15, 2013, the Company issued 30,000,000 shares of common stock to settle an amount owed of $27,000 to a creditor for services already provided.

These financial statements considered subsequent events through May 20, 2013, the date the financial statements were available to be issued.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

This discussion should be read in conjunction with Management’s Discussion and Analysis of Financial Condition and Results of Operations included in our Annual Report on Form 10-K for the year ended December 31, 2012.

Overview

We manufacture, market, and distribute internationally an energy drink under a license, now in dispute, with Playboy Enterprises, Inc., or Playboy, and in the U.S., we provide a mix of high- and medium-volume turnkey manufacturing services and products using various high-tech applications for leading electronics OEMs (original equipment manufacturers) in the communications, networking, peripherals, gaming, law enforcement, consumer products, telecommunications, automotive, medical, and semiconductor industries. Our services include pre-manufacturing, manufacturing, and post-manufacturing services. Our goal is to offer customers the significant competitive advantages that can be obtained from manufacture outsourcing.

We are engaged in the following business segments.

Beverage Distribution (96% and 95% of total revenue during three months ended March 31, 2013 and 2012, respectively)

CirTran Beverage manufactures, markets, and distributes Playboy-branded energy drinks in accordance with an agreement we entered into with Play Beverages, LLC, or PlayBev, a consolidated variable interest entity, which holds the Playboy license.

Contract Manufacturing (4% and 5% of total revenue during the three months ended March 31, 2013 and 2012, respectively)

CirTran Products pursues contract-manufacturing relationships in the U.S. consumer products markets, including licensed merchandise sold in the sports and entertainment markets.

CirTran Asia manufactures and distributes electronics, consumer products, and general merchandise to companies selling in international markets.

Marketing and Media (no revenues during the three months ended March 31, 2013 and 2012, respectively)

CirTran Online sells products via the Internet and provides services and support to Internet retailers.

CirTran Media provides end-to-end services to the direct-response and entertainment industries.

Electronics Assembly (no revenues during the three months ended March 31, 2013 and 2012, respectively)

CirTran Corporation (“CirTran USA”) provides low-volume electronics assembly activities consisting primarily of placing and attaching electronic and mechanical components on printed circuit boards and flexible (i.e., bendable) cables.

Forward-Looking Statements

The statements contained in this report that are not purely historical are considered to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act. These statements represent our expectations, hopes, beliefs, anticipations, commitments, intentions, and strategies regarding the future. They may be identified by the use of words or phrases such as “believes,” “expects,” “anticipates,” “should,” “plans,” “estimates,” and “potential,” among others. Forward-looking statements include, but are not limited to, statements contained in Management’s Discussion and Analysis of Financial Condition and Results of Operations regarding our financial performance, revenue, and expense levels in the future and the sufficiency of our existing assets to fund future operations and capital spending needs. Readers are cautioned that actual results could differ materially from the anticipated results or other expectations that are expressed in these forward-looking statements. The forward-looking statements contained in this report are made as of the date of this report, and we assume no obligation to update them or to update the reasons why our actual results could differ from those that we have projected in such forward-looking statements. We expressly disclaim any obligation or intention to update any forward-looking statement.

Results of Operations

Comparison of the Three Months Ended March 31, 2013 and 2012

Sales and Cost of Sales

Net sales increased to $868,152 for the three months ended March 31, 2013, as compared to $618,700 for the three months ended March 31, 2012. The increase is primarily attributable to our ability to manage the disruption we experienced in 2012 and into 2013 with the unexpected bankruptcy proceedings initiated against PlayBev, the continuing uncertainty created by Playboy in relation to the interference with our beverage distributors, and defending against numerous lawsuits. Disputes respecting the status of the PlayBev license to market Playboy-licensed energy drinks resulted in lower revenues in 2011 that we struggled to improve in 2012 and into 2013.

Cost of sales, including royalty expense, as a percentage of sales, decreased to 31% from 123% for the three months ended March 31, 2013, as compared to the three months ended March 31, 2012, respectively. Consequently, the gross profit margin increased to 69% from 23%, for the three months ended March 31, 2013 and 2012, respectively. The increase in gross profit margin is attributable to an increase in revenues from royalty agreements that have an overall lower cost.

The following charts present comparisons of sales, cost of sales, and gross profits generated by our two operating segments, beverage distribution and contract manufacturing during the three months ended March 31, 2013 and 2012:

Three Months Ended March 31:
Segment	Year	Sales	Cost of Sales	Royalty Expense	Gross Loss / Margin
Beverage Distribution	2013	$ 837,020	$ 234,414	$ 37,494	$ 565,112
Beverage Distribution	2012	587,616	238,150	521,004	(171,538)
Contract Manufacturing	2013	31,132	101	-	31,031
Contract Manufacturing	2012	31,084	-	-	31,084

Selling, General, and Administrative Expenses

During the three months ended March 31, 2013, selling, general, and administrative expenses increased by $94,973 to $833,452 from $738,479 for the same period during 2012. The increase in selling, general, and administrative expenses was driven primarily by an increase in legal fees of $139,456, a decrease of salaries expenses of $129,136, an increase in consulting expense of $78,032, a increase in manager fees of $60,000, a decrease of travel and entertainment expenses of $6,805, a decrease in sales commission expense of $34,401, a decrease in outside contract services expense of $20,919, and a increase in accounting fees of $17,972.

Noncash Compensation Expense

Compensation expense in connection with accounting for options owed or granted to employees to purchase common stock was $29,872 for the three months ended March 31, 2013, as compared to $26,001 for the three months ended March 31, 2012, as a result of the employee stock options accrued for per the respective employment agreements.

Other Income and Expense

Interest expense recorded in the Condensed Consolidated Statements of Operations combines both accretion expense and interest expense. The combined interest expense for the three months ended March 31, 2013, was $209,495, as compared to $255,661 for the three months ended March 31, 2012, a decrease of 18%. The decrease in the combined interest expense was driven by the reduction in accretion expense recorded for the three months ended March 31, 2013.

We recorded a gain of $5,844 on our derivative valuation for the three months ended March 31, 2013, as compared to a gain of $133,605 recorded for the three months ended March 31, 2012. The swing in the derivative valuation is primarily the result of the change in estimating the fair value of convertible debentures and associated warrants from using the Black-Scholes model to a multinomial lattice model, together with the varying market values of our common stock.

We recorded a gain of $38,352 on our settlement of debt for the three months ended March 31, 2013. This was a result of settling payable, accrued liabilities and debt for equity. See Note 14 – Capital Stock in the notes to the unaudited financial statements above for more details.

As a result of these factors, our overall net loss decreased to $432,480 for the three months ended March 31, 2013, as compared to net loss of $1,288,096 for the three months ended March 31, 2012. The net loss attributable to us was $105,576 for the three months ended March 31, 2013, and a net loss of $326,904 was attributable to a noncontrolling equity interest in PlayBev.

Liquidity and Capital Resources

We have had a history of losses from operations, as our expenses have been greater than our revenues. Our accumulated deficit was $48,620,372 at March 31, 2013, and $48,514,796 at December 31, 2012. Our current liabilities exceeded our current assets by $25,710,611 as of March 31, 2013, and by $26,458,490 as of December 31, 2012.

Cash

The amount of cash used in operating activities during the three months ended March 31, 2013, increased by $181,361, driven primarily by deferred revenue. The amount of cash provided by financing activities during the three months ended March 31, 2013, increased by $332,982, driven primarily from conversion of debt to equity.

Accounts Receivable

Trade accounts receivable, net of allowance for doubtful accounts, decreased $79,183 during the three months ended March 31, 2013. We continue to monitor individual customer accounts and are working to improve collections on trade accounts receivable. We eliminate the receivables associated with PlayBev as part of consolidation in accordance with GAAP treatment as a variable interest entity.

Accounts Payable and Accrued Liabilities

During the three months ended March 31, 2013, accounts payable, accrued liabilities, advances payable, interest payable, and short-term debt increased by $72,413 to a combined balance of $16,260,662 as of March 31, 2013. The increase includes an increase of $9,090 in accrued liabilities, a $104,165 decrease in interest payable, an increase of $99,071 in accrued payroll and compensation, and a $51,262 decrease in accounts payable. The increase in accounts payable activity is a result of continued PlayBev-related services performed during the year for beverage development, distribution, marketing, and legal services. At March 31, 2013, we owed $3,146,912 to various investors from whom we had borrowed funds in the form of either unsecured or short-term advances.

Liquidity and Capital Resources

We have had a history of losses from operations, as our expenses have been greater than our revenues. We had an accumulated deficit of $48,620,372 along with a total stockholders’ deficit of $15,593,539 at March 31, 2013. During the three months ended March 31, 2013, we used net cash of $154,109. During the three months ended March 31, 2012, we provided $27,342 in cash in operations. During the three months ended March 31, 2013, our monthly operating costs and interest expense averaged approximately $357,000 per month.

In conjunction with our efforts to improve our results of operations, we are also actively seeking infusions of capital from investors and are seeking sources to repay our existing convertible debentures. In our current financial condition and with ongoing activities substantially dependent on the outcome of the Playboy litigation, it is unlikely that we will be able to obtain additional debt financing. Even if we did acquire additional debt, we would be required to devote additional cash flow to servicing the debt and securing the debt with assets. Accordingly, we are looking to obtain equity financing to meet our anticipated capital needs. We cannot assure that we will be successful in obtaining such capital. If we issue additional shares for debt and/or equity, this will dilute the value of our common stock and existing shareholders’ positions.

We cannot assure that we will be successful in obtaining more debt and/or equity financing in the future or that our results of operations will materially improve in either the short or the long term. If we fail to obtain such financing and improve our results of operations, we will be unable to meet our obligations as they become due. These conditions raise substantial doubt about our ability to continue as a going concern.

Convertible Debentures

2011 YA Forbearance Agreement

As of December 31, 2010, we had outstanding convertible debentures issued during previous periods to YA Global with an aggregate outstanding balance of $3,161,355, including accrued interest of $991,329, that were then in default. In January 2011, we and YA Global entered into a forbearance agreement and related agreements (the “2011 YA Forbearance Agreement”).

In the 2011 YA Forbearance Agreement, we ratified our previous obligations under the debentures; provided the guaranty of our president, Iehab Hawatmeh, secured by one-half of his interest in PlayBev; provided a confession of judgment in litigation by YA Global against Katana, to which we had transferred certain collateral pledged to YA Global; and issued a new warrant to purchase 25,000,000 shares of our common stock at an exercise price of $0.02 per share, expiring December 2015.

Additionally, we agreed to pay the debentures, $225,000 at signing the 2011 YA Forbearance Agreement ($75,000 to be applied to transaction costs), $75,000 per month for February through April 2011, $200,000 per month for May through December 2011, and the balance on December 31, 2011 (the “2011 Termination Date”).

We had the right, subject to the consent of YA Global, to pay all or any portion of the payments listed above in common stock, with the conversion price to be used to determine the number of shares being equal to 85% of the lowest closing bid price of our common stock during the 10 trading days prior to the payment date. The amount applied as a payment on the note and accrued interest would be adjusted to the value of the actual proceeds from the sale of the stock.

YA Global agreed to forbear from enforcing its rights and remedies as a result of the existing defaults and/or converting the debentures into shares of our common stock, until the earlier of our default under the 2011 YA Agreement or the 2011 Termination Date.

The summaries of the terms and conditions of the 2011 YA Forbearance Agreement and the other agreements do not purport to be complete and are qualified in their entirety by reference to the full text of the agreements, which are incorporated in this report.

Default and 2012 YA Global Forbearance Agreement

We made our required payments through March 1, 2011, as required under the 2011 YA Forbearance Agreement, but thereafter did not make additional payments. Following such defaults, YA Global initiated steps to proceed to execute on, take possession of, and sell at auction all of our assets, which had been encumbered to secure our obligations under the debentures. We negotiated extensions of such execution efforts while we also sought to negotiate another formal forbearance agreement with YA Global.

On March 22, 2012, we entered into a formal forbearance agreement with YA Global, dated as of March 1, 2012 (the “2012 YA Global Forbearance Agreement”), in which we ratified our previous obligations under the debentures and agreed to pay the debentures, $25,000 at signing the 2012 YA Global Forbearance Agreement, $25,000 per month in March through June 2012, $50,000 per month in July through September 2012, $75,000 in the months of October and November 2012, $100,000 per month in the months of December 2012 through May 2013, $125,000 per month in the months of June through December 2013, and the balance in December 2014 (the “Extended Termination Date”). In addition to the above minimum payments to YA Global, we were required to pay monthly excess cash flow, to the extent cumulatively available, consisting of consolidated earnings before interest, taxes, depreciation and amortization, less cash deposits for product orders received but not yet shipped, actual cash taxes paid, actual cash principal and interest paid, and reasonable out-of-pocket cash paid together with reasonable cash reserves in an amount not to exceed 5% of total net sales, provided that such excess cash flow payments did not exceed $50,000 in March 2012 and $25,00 per month in April 2012 and thereafter, until the balance was paid.

We continued to have the right, subject to the consent of YA Global, to pay all or any portion of the payments listed above in common stock, with the conversion price to be used to determine the number of shares being equal to the lowest closing bid price of our common stock during the 20 trading days prior to the payment date. The amount applied as a payment on the note and accrued interest would be adjusted to the value of the actual proceeds from the sale of the stock.

On February 22, 2013, we entered into a Ratification Agreement with YA Global (the “2013 Ratification Agreement”). Under the 2013 Ratification Agreement, we ratified the obligations under three existing Convertible Debentures dated May 26, 2005, December 30, 2005, and August 23, 2006, and agreed to amend, restate, and consolidate the obligations evidenced thereby into a Consolidated Debenture.

The 2013 Ratification Agreement also provides for a new payment schedule under the Consolidated Debenture that replaces the payment schedule that had been agreed to in the 2012, YA Global Forbearance Agreement among the parties. Under the 2013 Ratification Agreement payment schedule, we are required to make monthly payments, to be applied first to accrued interest and then to principal, in the amount of $100,000 per month, commencing in April 2013. The amount of our required monthly cash payment shall be reduced in an amount equal to the amount credited to the lender against the obligation as a result of the lender’s exercise of the right to convert the outstanding balance due under the debentures into common stock, as provided in the original convertible debentures as well as in the Consolidated Debenture. Any amount credited against the debenture obligation in excess of $100,000 per month shall be credited against the amounts due in the next succeeding month.

During the three months ended March 31, 2013, we issued common stock valued at $387,836 towards the required payments.

Critical Accounting Estimates

Revenue Recognition - Revenue is recognized when products are shipped. Title passes to the customer or independent sales representative at the time of shipment. Returns for defective items are repaired and sent back to the customer. Historically, expenses associated with returns have not been significant and have been recognized as incurred.

Shipping and handling fees are included as part of net sales. The related freight costs and supplies directly associated with shipping products to customers are included as a component of cost of goods sold.

We have entered into a Manufacturing, Marketing and Distribution Agreement with PlayBev, a consolidated variable interest entity, whereby we are the vendor of record in providing initial development, promotional, marketing, and distribution services. Accordingly, all amounts billed to PlayBev in connection with the development and marketing of its new energy drink have been eliminated in consolidation.

Financial Instruments with Derivative Features - We do not hold or issue derivative instruments for trading purposes. However, we have financial instruments that are considered derivatives or contain embedded features subject to derivative accounting. Embedded derivatives are valued separately from the host instrument and are recognized as derivative liabilities in our balance sheet. We measure these instruments at their estimated fair value and recognize changes in their estimated fair value in results of operations during the period of change. We have estimated the fair value of these embedded derivatives using the Multinomial Lattice model. The fair value of the derivative instruments is measured each quarter, with the change recorded in earnings.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not required.

ITEM 4. CONTROLS AND PROCEDURES

Disclosure Controls and Procedures

We carried out an evaluation, under the supervision and with the participation of management, including our Chief Executive Officer / Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended) as of March 31, 2013. Based on our evaluation, our Chief Executive Officer / Chief Financial Officer has concluded that our disclosure controls and procedures were not effective at March 31, 2013, due to the fact that the material weaknesses in our internal control over financial reporting described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2012, had not been remediated as of March 31, 2013.

These weaknesses are continuing. Management and the Board of Directors are aware of these weaknesses that result because of limited resources and staff. Efforts to design and implement controls and processes have been put on hold due to limited resources, but we anticipate a renewed focus on this effort in the near future. Due to our limited financial and managerial resources, we cannot assure when we will be able to implement effective internal controls over financial reporting.

Changes in Internal Control over Financial Reporting

There was no change in our internal control over financial reporting that occurred in the first quarter of 2013 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II – OTHER INFORMATION

ITEM 6. EXHIBITS

The following exhibits are filed as a part of this report:

Exhibit Number*	Title of Document	Location

Item 31	Rule 13a-14(a)/15d-14(a) Certifications
31.01	Certification of Principal Executive Officer and Principal Financial Officer Pursuant to Rule 13a-14	This filing.

Item 32	Section 1350 Certifications
32.01	Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Chief Executive Officer and Chief Financial Officer)	This filing.

Item 101	Interactive Data File
101	Interactive Data File	This filing

_______________

* All exhibits are numbered with the number preceding the decimal indicating the applicable SEC reference number in Item 601 and the number following the decimal indicating the sequence of the particular document. Omitted numbers in the sequence refer to documents previously filed as an exhibit.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this amended report to be signed on its behalf by the undersigned thereunto duly authorized.

	CIRTRAN CORPORATION
		(Registrant)


Date: May 20, 2013	By:	/s/ Iehab Hawatmeh
		Iehab Hawatmeh, President, Chief Financial Officer (Principal Executive Officer, Principal Financial Officer)

EX-31.01 2 ex31-01.htm CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER AND PRINCIPAL FINANCIAL OFFICER ex31-01.htm - Generated by SEC Publisher for SEC Filing

Exhibit 31.01

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER AND PRINCIPAL FINANCIAL OFFICER PURSUANT TO RULE 13a-14

I, Iehab Hawatmeh, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of CirTran Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 20, 2013

/s/ Iehab Hawatmeh

Iehab Hawatmeh

President, Chief Executive Officer, and Chief Financial Officer

(Principal Executive Officer and Principal Financial Officer)

EX-32.01 3 ex32-01.htm CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION ex32-01.htm - Generated by SEC Publisher for SEC Filing

EXHIBIT 32.01

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES‑OXLEY ACT OF 2002

In connection with the Quarterly Report of CirTran Corporation on Form 10-Q for the period ended March 31, 2013, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), Iehab Hawatmeh, Chief Executive Officer and Chief Financial Officer of the Company, certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes‑Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

May 20, 2013

/s/ Iehab Hawatmeh

Iehab Hawatmeh

Chief Executive Officer and Chief Financial Officer

(Principal Executive Officer and Principal Financial Officer)

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NOTE 1 – BASIS OF PRESENTATION   The accompanying unaudited condensed consolidated financial statements include the accounts of CirTran Corporation and its subsidiaries (the “Company”).  These financial statements have been prepared in accordance with Article 10 of Regulation S-X promulgated by the Securities and Exchange Commission (“SEC”).  Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to such rules and regulations.  These statements should be read in conjunction with the Company’s annual financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012.  In particular, the Company’s significant accounting policies were presented as Note 2 to the consolidated financial statements in that Annual Report.  In the opinion of management, all adjustments necessary for a fair presentation have been included in the accompanying condensed consolidated financial statements and consist of only normal recurring adjustments.  The results of operations presented in the accompanying condensed consolidated financial statements for the three months ended March 31, 2013, are not necessarily indicative of the results that may be expected for the 12 months ending December 31, 2013.

NOTE 3 - INVENTORIES   Inventories are stated at the lower of average cost or market and consisted of the following:   <div align="center"> <table style="width: 100%; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="37%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="6%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="23%" nowrap="nowrap"> March 31, </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="5%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="25%" nowrap="nowrap"> December 31, </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="37%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="6%" nowrap="nowrap">   </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="23%" nowrap="nowrap"> 2013 </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="5%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="4%" nowrap="nowrap">   </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="25%" nowrap="nowrap"> 2012 </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="37%" nowrap="nowrap"> Raw Materials </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="6%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="23%" nowrap="nowrap"> 1,675,341 </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="5%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="4%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="25%" nowrap="nowrap"> 1,691,500 </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="37%" nowrap="nowrap"> Work in Process </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="6%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="23%" nowrap="nowrap"> 148,573 </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="5%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="25%" nowrap="nowrap"> 221,225 </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="37%" nowrap="nowrap"> Finished Goods </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="6%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="23%" nowrap="nowrap"> 442,169 </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="5%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="25%" nowrap="nowrap"> 442,017 </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="37%" nowrap="nowrap"> Allowance / Reserve </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="6%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="23%" nowrap="nowrap"> (2,256,223) </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="5%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="4%" nowrap="nowrap">   </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="25%" nowrap="nowrap"> (2,256,399) </td> </tr> <tr style="height: 15.75pt;"> <td style="padding: 0in 5.4pt; height: 15.75pt;" valign="bottom" width="37%" nowrap="nowrap"> Totals </td> <td style="padding: 0in 5.4pt; height: 15.75pt; border-top-color: windowtext; border-bottom-color: windowtext; border-top-width: 1pt; border-bottom-width: 2.25pt; border-top-style: solid; border-bottom-style: double;" valign="bottom" width="6%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 15.75pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="23%" nowrap="nowrap"> 9,860 </td> <td style="padding: 0in 5.4pt; height: 15.75pt;" valign="bottom" width="5%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15.75pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="4%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 15.75pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="25%" nowrap="nowrap"> 98,343 </td> </tr> </table> </div>

<div style="width: 100%; padding-right: 0%; padding-left: 0%;"> NOTE 5 - COMMITMENTS AND CONTINGENCIES   Litigation and Claims - Various vendors and service providers have notified the Company that they believe they have claims against the Company totaling approximately $2,250,000.  The Company has determined the probability of realizing any loss on these claims is remote.  The Company has made no accrual for these claims and is currently in the process of negotiating the dismissal of these claims.   Registration Rights Agreements - In connection with the Company’s issuance of convertible debentures to YA Global Investments, L.P., formerly known as Cornell Capital Partners, L.P. (“YA Global”), the Company granted to YA Global certain registration rights, pursuant to which the Company agreed to file a registration statement to register the resale of shares of the Company’s common stock issuable upon conversion of the debentures.  The Company agreed to keep the registration statement effective until all of the shares issuable upon conversion of the debenture have been sold.  The Company has not accrued a liability for potential losses.   Previously, YA Global has agreed to extensions of the filing deadlines inherent in the terms of the convertible debentures mentioned above.  On January 24, 2011, the Company and YA Global entered into a forbearance agreement related to the convertible debentures issued by the Company to YA or its predecessor entities.   YA Global Forbearance Agreements - On September 25, 2010, YA Global filed a lawsuit against the Company asserting claims for breach of contract, breaches of the uniform commercial code, and replevin.  YA Global sought a judgment in the amount of $4,193,380, plus interest and attorneys fees, as well as a writ of replevin to compel the Company to turn over equipment and other property that YA Global claims was pledged as collateral to secure obligations owing to YA Global.   On January 24, 2011, the Company entered into a forbearance agreement with YA Global, including a confession of judgment in its favor.  On February 23, 2011, the court entered judgment based on the confession of judgment against the Company in the principal amount of $3,161,354, plus interest of $825,858.   On July 22, 2011, YA Global filed a motion in the ABS lawsuit (discussed below) seeking an order clarifying its position with respect to ABS and staying enforcement of that court’s order that the Company pay approximately $35,000 in legal fees to ABS.  In its motion, YA Global notified the Company that it intended to conduct a secured party’s public auction of all of the Company’s assets.  YA Global also informed the Company that it had defaulted under the January 2011 Forbearance Agreement and declared that all of the Company’s obligations to YA Global were immediately due and owing.  Further, YA Global stated that it intended to commence action to collect on the Company’s obligations and instructed it to assemble its assets.   </div> <div style="page-break-before: always;"> </div> <div style="width: 100%; padding-right: 0%; padding-left: 0%;"> <div>  At a hearing held on August 3, 2011, in the ABS reorganization proceeding on YA Global’s motion to stay enforcement, YA Global noted that the date of the proposed secured party’s public auction was August 30, 2011.  At the same time, YA Global notified the Company that the proposed sale of assets would be held on August 30, 2011. </div>   At the hearing in the ABS matter, the Bankruptcy Court denied YA Global’s motion to stay the payment of attorneys’ fees by the Company.  Subsequently, the parties to the January 2011 settlement with YA Global entered into an agreement whereby YA Global agreed to cancel the proposed asset sale without waiver.   On September 30, 2011, YA Global directed the Company to assemble the collateral in order to enable it to take possession on or before October 6, 2011.  Following negotiations with YA Global, the Company confirmed its indebtedness to YA Global and arranged for it to take possession of collateral on October 17, 2011, on which date, all accounts receivable, collections, and other proceeds and products of the collateral would be held in trust by the Company for YA Global and immediately forwarded to it.  Before the Company was required to surrender possession of the collateral, it initiated negotiations to obtain YA Global’s forbearance from collection.   On March 22, 2012, the Company entered into a formal forbearance agreement with YA Global, dated as of March 1, 2012 (the “2012 YA Global Forbearance Agreement”), in which it ratified its previous obligations under the debentures and agreed to pay the debentures under the following payment plan: $25,000 at signing the 2012 YA Global Forbearance Agreement, $25,000 per month in March through June 2012, $50,000 per month in July through September 2012, $75,000 in the months of October and November 2012, $100,000 per month in the months of December 2012 through May 2013, $125,000 per month in the months of June through December 2013, and the balance in December 2014 (the “Extended Termination Date”).  In addition to the above minimum payments to YA Global, the Company is required to pay monthly excess cash flow, to the extent cumulatively available, consisting of consolidated earnings before interest, taxes, depreciation and amortization, less cash deposits for product orders received but not yet shipped, actual cash taxes paid, actual cash principal and interest paid, and reasonable out-of-pocket cash paid together with reasonable cash reserves in an amount not to exceed 5% of total net sales, provided that such excess cash flow payments shall not to exceed $50,000 in March 2012 and $25,000 per month in April through September 2012.     The Company continues to have the right, subject to the consent of YA Global, to pay all or any portion of the payments listed above in common stock, with the conversion price to be used to determine the number of shares being equal to the lowest closing bid price of the Company’s common stock during the 20 trading days prior to the payment date.  The amount applied as a payment on the note and accrued interest will be adjusted to the value of the actual proceeds from the sale of the stock by YA Global, less costs associated with the sale.   YA Global agreed to forbear from enforcing its rights and remedies as a result of the existing defaults and/or converting the debentures into shares of the Company’s common stock, until the earlier of the Company’s default under the 2012 YA Global Forbearance Agreement or the Extended Termination Date.   On February 22, 2013, the Company entered into a Ratification Agreement with YA Global (the “2013 Ratification Agreement”).  Under the 2013 Ratification Agreement, the Company ratified the obligations under three existing Convertible Debentures dated May 26, 2005, December 30, 2005, and August 23, 2006, and agreed to amend, restate, and consolidate the obligations evidenced thereby into a Consolidated Debenture.  </div> <div style="page-break-before: always;"> </div> <div style="width: 100%; padding-right: 0%; padding-left: 0%;"> <div>  The 2013 Ratification Agreement also provides for a new payment schedule under the Consolidated Debenture that replaces the payment schedule that had been agreed to in a March 1, 2012, Forbearance Agreement among the parties.  Under the 2013 Ratification Agreement payment schedule, the Company is required to make monthly payments, to be applied first to accrued interest and then to principal, in the amount of $100,000 per month, commencing in April 2013.  The amount of the Company’s required monthly cash payment shall be reduced in an amount equal to the amount credited to the lender against the obligation as a result of the lender’s exercise of the right to convert the outstanding balance due under the debentures into common stock, as provided in the original convertible debentures as well as in the Consolidated Debenture.  Any amount credited against the debenture obligation in excess of $100,000 per month shall be credited against the amounts due in the next succeeding month. </div>   During the three months ended March 31, 2013, the Company issued common stock valued at $387,836 towards the required payments.     Delinquent Payroll Taxes, Interest, and Penalties - In November 2004, the IRS accepted the Company’s Amended Offer in Compromise (the “Offer”) to settle delinquent payroll taxes, interest, and penalties.  The acceptance of the Offer required the Company to pay $500,000.  Additionally, the Offer required the Company to remain current in its payment of taxes for five years and not claim any net operating losses for the years 2001 through 2015, or until the Company pays taxes on future profits in an amount equal to the taxes waived by the Offer of $1,455,767.  The Company has defaulted on the original agreement and is currently working with the IRS to pay the 2009 tax liabilities.   Disputed Account Payable - The Company is in disagreement with its former legal counsel over charges incurred and the amount due to this provider for billed services, charges and interest expense. The Company is vigorously working with this provider to settle the outstanding balance. Management assesses the likelihood to be remote that it will not be able to settle the balance at or below the currently accrued balance.   Employment Agreements - On August 1, 2009, the Company entered into a new employment agreement with Mr. Hawatmeh, the Company’s President.  The term of the employment agreement continues until August 31, 2014, and automatically extends for successive one-year periods, with an annual base salary of $345,000.  The employment agreement also grants to Mr. Hawatmeh options to purchase a minimum of 6,000,000 shares of the Company’s stock each year, with the exercise price of the options being the market price of the Company’s common stock as of the grant date.  The employment agreement also provides for health insurance coverage, cell phone, car allowance, life insurance, and director and officer liability insurance, as well as any other bonus approved by the Board.  The employment agreement includes additional incentive compensation as follows: a quarterly bonus equal to 5% of the Company’s earnings before interest, taxes, depreciation, and amortization for the applicable quarter; bonus(es) equal to 1.0% of the net purchase price of any acquisitions completed by the Company that are directly generated and arranged by Mr. Hawatmeh; and an annual bonus (payable quarterly) equal to 1% of the gross sales, net of returns and allowances, of all beverage products of the Company and its affiliates for the most recent fiscal year.  During the three months ended March 31, 2013 and 2012, the Company incurred $10,171 and $5,582, respectively, of non-cash compensation expense related to accrual for employee stock options to be awarded per the employment contract with the president of the Company.   Pursuant to the employment agreement, Mr. Hawatmeh’s employment may be terminated for cause or upon death or disability, in which event, the Company is required to pay Mr. Hawatmeh any unpaid base salary and unpaid earned bonuses.  In the event that Mr. Hawatmeh is terminated without cause, the Company is required to pay to Mr. Hawatmeh: (i) within 30 days following such termination, any benefit, incentive, or equity plan, program, or practice (the “Accrued Obligations”) paid when the bonus would have been paid Mr. Hawatmeh if employed; (ii) within 30 days following such termination (or on the earliest later date as may be required by Internal Revenue Code Section 409A to the extent applicable), a lump sum equal to 30 months of  annual base salary; (iii) bonus(es) owing under the employment agreement for the two-year period after the date of termination (net of an bonus amounts paid as Accrued Obligations) based on actual results for the applicable quarters and fiscal years; and (iv) within 12 months following such termination (or on the earliest later date as may be required by Internal Revenue Code Section 409A to the extent applicable), a lump sum equal to 30 months of annual base salary; provided that if Mr. Hawatmeh is terminated without cause in contemplation of, or within one year, after a change in control, then two times such annual base salary and bonus payment amounts. </div> <div style="page-break-before: always;"> </div> <div style="width: 100%; padding-right: 0%; padding-left: 0%;"> <div> On May 1, 2009, PlayBev, a consolidated variable interest entity, entered into compensation agreements with its managers, Mr. Hawatmeh and Mr. Nora.  The agreed compensation consists of a monthly fee of $10,000 for each manager, reimbursement of reasonable expenses on its behalf, and a car allowance for Mr. Nora of $1,000 per month to cover the cost of use, fuel, and repairs.  The Company has accrued $1,008,150 in compensation, which is included in related-party payables as of March 31, 2013. </div>   Advanced Beauty Solutions, LLC - In connection with prior litigation with Advanced Beauty Solutions, or ABS, ABS claimed nonperformance by the Company and filed an adversary proceeding in its bankruptcy case proceeding in the United States Bankruptcy Court, Central District of California, San Fernando Valley Division.  On March 17, 2009, the Bankruptcy Court entered judgment in favor of ABS and against the Company in the amount of $1,811,667, plus interest.  On September 11, 2009, the Bankruptcy Court denied the Company’s motion to set aside the judgment.    On September 8, 2010, the Company executed an Assignment of Copyrights, thereby assigning Copyright Registration No. TX-6-064-955, Copyright Registration No. TX-6-064-956, and Copyright to the True Ceramic Pro - Live Ops (TCPS) infomercial and related master tapes (collectively the “Copyrights”) to ABS, without reservation or exclusion, making ABS the owner of the Copyrights.    On February 23, 2011, the Company filed a Motion to Declare Judgment Fully Satisfied or Alternatively to Recoup Mutual Debts, requesting that the court determine that its assignment of the Copyrights resulted in full satisfaction of the ABS judgment.  On March 3, 2011, ABS brought a Motion for Order to Show Cause re Civil Contempt alleging that the Company had failed to make payments on ABS’s judgment in violation of the court’s orders.  At the hearing on April 6, 2011, the court denied the motion to declare the judgment fully satisfied and granted ABS’s motion, but did not hold the Company in civil contempt.  The court also set a hearing on the ABS Motion for the Order to Show Cause for July 8, 2011, regarding the Company’s compliance with collection orders, which the parties stipulated should be postponed until August 3, 2011.  The parties attended mediation on July 11, 2011, but no formal settlement resulted.  At the hearing in August, the court found that a basis existed to hold the Company in contempt and set an evidentiary hearing for October 6, 2011, to determine whether to issue a contempt citation.  The Company appealed the denial of its motion to declare judgment satisfied.    On March 22, 2012, the Company and ABS entered into a formal forbearance agreement, dated as of March 1, 2012 (the “ABS Forbearance Agreement”), whereby ABS agreed to take no further judgment enforcement actions in consideration of the payment of $25,000 upon execution of the definitive ABS Forbearance Agreement and satisfaction of applicable conditions precedent.  The ABS Forbearance Agreement calls for the Company to pay $7,500 per month for 46 consecutive months (except for a payment of $15,000 in December 2012), commencing in March 2012, with the unpaid balance, as finally determined as provided below, due and payable in January 2016.  No interest on the principal would accrue unless the note is in default, in which case, it would bear interest at 10% per annum from the date of the ABS Forbearance Agreement.  In addition, the Company stipulated to an additional judgment for attorney’s fees incurred in negotiating the ABS Forbearance Agreement and entering into the related definitive agreements and in related post-judgment collection efforts.  The obligation to pay $1,835,000 under the ABS Forbearance Agreement would be secured by an encumbrance on all of the Company’s assets, subject to a prior lien and encumbrance in favor of YA Global.  </div> <div style="page-break-before: always;"> </div> <div style="width: 100%; padding-right: 0%; padding-left: 0%;"> The principal amount of $1,835,000 due under the ABS Forbearance Agreement would be reduced by the greater of the amount of credit granted in the bankruptcy proceedings for the value of the intellectual property the Company previously conveyed to ABS and the amount received by ABS from the sale of such intellectual property to a third party during the term of the ABS Forbearance Agreement, plus the amount of any distribution to which the Company is entitled as a creditor of ABS, provided, however, that in no event would the amount due under the ABS Forbearance Agreement be reduced below $90,000, which is the amount payable during the first 12 months under the ABS Forbearance Agreement.  ABS entered into a subordination agreement subordinating the obligation under the ABS Forbearance Agreement in favor of the obligations and first-priority security interest of YA Global.  The Company conveyed to ABS the trademarks and intellectual property previously conveyed by ABS to the Company.    The Company’s appeal of the approximately $1.8 million judgment has been remanded in the ABS bankruptcy proceedings to conclusively determine the amount of credit due the Company for the conveyance of the intellectual property.  Except for the determination of the fair market value of the intellectual property and any enforcement or collection proceedings that may be required under the ABS Forbearance Agreement, all litigation and disputes between ABS and its affiliates, on the one hand, and the Company and its affiliates, on the other hand, would be dismissed, including the pending order to show cause regarding contempt against the Company, its subsidiaries, and its President.    The Company has assigned to ABS its creditor claim against the estate of ABS, to the extent of the balance due under the ABS Forbearance Agreement.  Any distribution from the ABS estate in excess of the adjusted amounts due under the ABS Forbearance Agreement will be paid to the Company.  Pending the determination of the amount of the credit due for the value of the intellectual property conveyed, the Company accrued a balance of $90,000 for the minimum required payment under the ABS Forbearance Agreement.  It is reasonably possible that this estimate may change in the near future based on the events of the ABS settlement.   The Company entered into a forbearance agreement with ABS on March 1, 2012.  As part of that agreement, among other things, the Company agreed to a settlement amount that is to be reduced by any distribution to which the Company was entitled as a creditor of ABS. Under the ABS Forbearance Agreement the minimum amount due ABS is $90,000, which is the amount payable during the first 12 months under the ABS Forbearance Agreement. The Company accrued $90,000 as of December 31, 2011 and made payments of $45,000. The royalty accrual as of March 31, 2013 was $45,000. </div>

<div> NOTE 6 - NOTES PAYABLE   In February 2012, the Company issued an 18% interest, 90-day, $30,000 promissory note to an investor.  The principal balance included a $5,000 borrowing fee.  The promissory note along with accrued interest was converted to 32,000,000 shares of stock in January 2013.  There was no outstanding balance as of March 31, 2013. </div>

NOTE 7 - FINANCIAL INSTRUMENTS   The Company has financial instruments that are considered derivatives or contain embedded features subject to derivative accounting.  Embedded derivatives are valued separately from the host instrument and are recognized as derivative liabilities in the Company’s balance sheet.  The Company measures these instruments at their estimated fair value and recognizes changes in their estimated fair value in results of operations during the period of change.  The Company has estimated the fair value of these embedded derivatives for convertible debentures and associated warrants using a multinomial lattice model as of March 31, 2013, and December 31, 2012, and used the Black-Scholes model prior to that.  The fair values of the derivative instruments are measured each quarter.  As of March 31, 2013, and December 31, 2012, the fair market value of the derivatives aggregated $458,475 and $829,090, respectively.

NOTE 8 - FAIR VALUE MEASUREMENTS   For asset and liabilities measured at fair value, the Company uses the following hierarchy of inputs:   ·         Level one -- Quoted market prices in active markets for identical assets or liabilities;   ·         Level two -- Inputs other than level one inputs that are either directly or indirectly observable; and   ·         Level three -- Unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use.   Liabilities measured at fair value on a recurring basis at March 31, 2013, are summarized as follows:   <div align="left"> <table style="width: 100%; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="25%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="17%" colspan="2" nowrap="nowrap"> Level 1 </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="17%" colspan="2" nowrap="nowrap"> Level 2 </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="17%" colspan="2" nowrap="nowrap"> Level 3 </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="17%" colspan="2" nowrap="nowrap"> Total </td> </tr> <tr style="height: 6pt;"> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="25%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="14%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="14%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="13%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="13%" nowrap="nowrap"> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="25%" nowrap="nowrap"> Fair value of derivatives </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="3%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="3%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 458,475 </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="4%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="13%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="4%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="13%" nowrap="nowrap"> 458,475 </td> </tr> </table> </div>   Liabilities measured at fair value on a recurring basis at December 31, 2012, are summarized as follows:   <div align="left"> <table style="width: 100%; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="25%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="17%" colspan="2" nowrap="nowrap"> Level 1 </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="17%" colspan="2" nowrap="nowrap"> Level 2 </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="17%" colspan="2" nowrap="nowrap"> Level 3 </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="17%" colspan="2" nowrap="nowrap"> Total </td> </tr> <tr style="height: 6pt;"> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="25%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="14%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="14%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="13%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="13%" nowrap="nowrap"> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="25%" nowrap="nowrap"> Fair value of derivatives </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="3%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="3%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 829,090 </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="4%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="13%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="4%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="13%" nowrap="nowrap"> 829,090 </td> </tr> </table> </div>

NOTE 9 - STOCKHOLDERS’ DEFICIT   The Company’s stockholders’ deficit increased by $105,576 as a result of the net loss attributable to CirTran Corporation for the three months ended March 31, 2013.  Noncontrolling interest in consolidated subsidiaries increased stockholders’ deficit by $326,904 for the three months ended March 31, 2013, due to the operating losses of the non-controlling subsidiary.   Loss Per Share - Basic loss per share is calculated by dividing net loss available to common shareholders by the weighted-average number of common shares outstanding during each period.  Diluted loss per share is similarly calculated, except that the weighted-average number of common shares outstanding would include common shares that may be issued subject to existing rights with dilutive potential when applicable.  The Company had 4,313,029,000 and 4,401,029,000 in potentially issuable common shares at March 31, 2013, and December 31, 2012, respectively.  These potentially issuable common shares were excluded from the calculation of diluted loss per share because the effects were antidilutive.

<div style="width: 100%; padding-right: 0%; padding-left: 0%;"> NOTE 11 - STOCK OPTIONS AND WARRANTS   Stock Incentive Plans - As of March 31, 2013, a total of 316,200,000 shares of common stock had been issued from the 2012 Stock Incentive Plan, out of which a maximum of 403,000,000 can be issued.  The Company’s Board of Directors administers the plan and has discretion in determining the employees, directors, independent contractors, and advisors who receive awards, the type of awards (stock, incentive stock options, nonqualified stock options, or share purchase rights) granted, and the term, vesting, and exercise prices.   Employee Options - During the three months ended March 31, 2013 and 2012, the Company did not grant options to purchase shares of common stock to employees.   During the three months ended March 31, 2013, the Company did not issue any employee options.   A summary of the stock option activity under the plans as of March 31, 2013, and changes during the three months then ended is presented below:   <div align="center"> <table style="width: 100%; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"> <tr style="height: 12.75pt;"> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="31%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="12%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="13%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="17%" nowrap="nowrap"> Weighted- </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="12%" nowrap="nowrap"> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="31%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="12%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="17%" colspan="2" nowrap="nowrap"> Weighted- </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="17%" nowrap="nowrap"> Average </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="16%" colspan="2" nowrap="nowrap"> Aggregate </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="31%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="12%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="17%" colspan="2" nowrap="nowrap"> Average </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="17%" nowrap="nowrap"> Remaining </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="16%" colspan="2" nowrap="nowrap"> Intrinsic </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="31%" nowrap="nowrap">   </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="12%" nowrap="nowrap"> Shares </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%" nowrap="nowrap">   </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="17%" colspan="2" nowrap="nowrap"> Exercise Price </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="3%" nowrap="nowrap">   </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="17%" nowrap="nowrap"> Contractual Life </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%" nowrap="nowrap">   </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="16%" colspan="2" nowrap="nowrap"> Value </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="31%" nowrap="nowrap"> Outstanding at December 31, 2012 </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="12%" nowrap="nowrap"> 3,600,000 </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="4%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="13%" nowrap="nowrap"> 0.0123 </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="17%" nowrap="nowrap"> 0.013 </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="4%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="12%" nowrap="nowrap"> - </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="31%" nowrap="nowrap"> Granted </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="12%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="13%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="17%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="12%" nowrap="nowrap"> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="31%" nowrap="nowrap"> Exercised </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="12%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="13%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="17%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="12%" nowrap="nowrap"> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="31%" nowrap="nowrap"> Expired </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="12%" nowrap="nowrap"> (3,600,000) </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="4%" nowrap="nowrap">   </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="13%" nowrap="nowrap"> 0.0123 </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="17%" nowrap="nowrap">   </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="4%" nowrap="nowrap">   </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="12%" nowrap="nowrap"> - </td> </tr> <tr style="height: 13.5pt;"> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="31%" nowrap="nowrap"> Outstanding at March 31, 2013 </td> <td style="padding: 0in 5.4pt; height: 13.5pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="12%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="4%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 13.5pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="13%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="17%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="4%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 13.5pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="12%" nowrap="nowrap"> - </td> </tr> <tr style="height: 13.5pt;"> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="31%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="12%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="13%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="17%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="12%" nowrap="nowrap"> </td> </tr> <tr style="height: 13.5pt;"> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="31%" nowrap="nowrap"> Exercisable at March 31, 2013 </td> <td style="padding: 0in 5.4pt; height: 13.5pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="12%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="4%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 13.5pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="13%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="17%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="4%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 13.5pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="12%" nowrap="nowrap"> - </td> </tr> </table> </div> </div> <div style="page-break-before: always;"> </div> <div><a name="page_16"></a><a name="_bclpageborder16"></a></div> <div style="width: 100%; padding-right: 0%; padding-left: 0%;"> <div align="center"> </div>   As of March 31, 2013, and December 31, 2012, the Company had a total of 104,800,000 and 88,000,000 options not issued but accrued, respectively.   Warrants - On January, 24, 2011, as part of the Forbearance Agreement, a warrant to purchase 25,000,000 shares of common stock was issued to YA Global.  The warrant had an exercise price of $0.02 per share and vested immediately.   The Company currently has an insufficient number of authorized shares to enable warrant holders to fully exercise their warrants, assuming all warrants holders desired to do so.  Accordingly, the warrants are subject to derivative accounting treatment and are included in the derivative liability related to the convertible debentures (see Note 8). </div>

<div style="width: 100%; padding-right: 0%; padding-left: 0%;"> NOTE 12 - SEGMENT INFORMATION   Segment information has been prepared in accordance with ASC 280-10, Disclosure about Segments of an Enterprise and Related Information.  The Company has four reportable segments: electronics assembly, contract manufacturing, marketing and media, and beverage distribution.  The electronics assembly segment manufactures and assembles circuit boards and electronic component cables.  The contract manufacturing segment manufactures, either directly or through foreign subcontractors, various products under manufacturing and distribution agreements.  The marketing and media segment provides marketing services to online retailers, along with beverage development and promotional services to PlayBev.  The beverage distribution segment manufactures, markets, and distributes Playboy-licensed energy drinks domestically and internationally.   The accounting policies of the segments are consistent with those described in the summary of significant accounting policies.  The Company evaluates performance of each segment based on earnings or loss from operations.  Selected segment information is as follows:   <div align="left"> <table style="width: 100%; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"> <tr style="height: 15pt;"> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="30%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> Electronics </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> Contract </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> Marketing </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> Beverage </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> </tr> <tr style="height: 15pt;"> <td style="background: white; padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="30%" nowrap="nowrap"> </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="14%" nowrap="nowrap"> Assembly </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="14%" nowrap="nowrap"> Manufacturing </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="14%" nowrap="nowrap"> and Media </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="14%" nowrap="nowrap"> Distribution </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="14%" nowrap="nowrap"> Total </td> </tr> <tr style="height: 15pt;"> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="30%" nowrap="nowrap"> Three Months Ended March 31, 2013 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> </tr> <tr style="height: 15pt;"> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="30%" nowrap="nowrap"> Sales to external customers </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> $ - </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> $ 31,132 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> $ - </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> $ 837,020 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 868,152 </td> </tr> <tr style="height: 15pt;"> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="30%" nowrap="nowrap"> Segment income (loss) </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 21,509 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> (12,454) </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> - </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 423,425 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 432,480 </td> </tr> <tr style="height: 12.75pt;"> <td style="background: white; padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="30%" nowrap="nowrap"> Segment assets </td> <td style="background: white; padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="14%" nowrap="nowrap"> 338,589 </td> <td style="background: white; padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="14%" nowrap="nowrap"> 37,089 </td> <td style="background: white; padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="14%" nowrap="nowrap"> - </td> <td style="background: white; padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="14%" nowrap="nowrap"> 218,337 </td> <td style="background: white; padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="14%" nowrap="nowrap"> 594,015 </td> </tr> <tr style="height: 15pt;"> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="30%" nowrap="nowrap"> Depreciation and amortization </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 4,331 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 10,807 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> - </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> - </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 15,138 </td> </tr> <tr style="height: 15pt;"> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="30%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> </tr> <tr style="height: 15pt;"> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="30%" nowrap="nowrap"> Three Months Ended March 31, 2012 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> </tr> <tr style="height: 15pt;"> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="30%" nowrap="nowrap"> Sales to external customers </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> $ - </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> $ 31,084 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> $ - </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> $ 587,616 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> $ 618,700 </td> </tr> <tr style="height: 15pt;"> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="30%" nowrap="nowrap"> Segment income (loss) </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> (254,674) </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 1,923 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> (15) </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> (1,035,330) </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> (1,288,096) </td> </tr> <tr style="height: 15pt;"> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="30%" nowrap="nowrap"> Segment assets </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 380,021 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 148,887 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> - </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 377,105 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 906,013 </td> </tr> <tr style="height: 15pt;"> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="30%" nowrap="nowrap"> Depreciation and amortization </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 5,165 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 22,344 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> - </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> - </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 27,509 </td> </tr> </table> </div> </div>

NOTE 13 - GEOGRAPHIC INFORMATION   The Company currently maintains $81,276 of capitalized tooling costs in China.  All other revenue-producing assets are located in the United States of America.  Revenues are attributed to the geographic areas based on the location of the customers purchasing the products.

NOTE 14 - SUBSEQUENT EVENTS   In April 2013, the Company entered into a Settlement Agreement and Mutual Release with LIB-MP.  Under the settlement and release agreement, the parties exchanged mutual general releases without the payment by any party of any amounts to any other.  Accordingly, the Company was relieved of approximately $1.4 million in amounts due LIB-MP without any payment.   In April 2013, the Company issued 20,000,000 shares of common stock at $0.001 per share to settle debt to a vendor of $20,000 and 33,750,000 shares of common stock at $0.0008 per share to settle debt to a related party of $33,750.   On April 15, 2013, the Company issued 30,000,000 shares of common stock to settle an amount owed of $27,000 to a creditor for services already provided.    These financial statements considered subsequent events through May 20, 2013, the date the financial statements were available to be issued.

<table style="width: 100%; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="37%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="6%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="23%" nowrap="nowrap"> March 31, </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="5%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="25%" nowrap="nowrap"> December 31, </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="37%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="6%" nowrap="nowrap">   </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="23%" nowrap="nowrap"> 2013 </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="5%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="4%" nowrap="nowrap">   </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="25%" nowrap="nowrap"> 2012 </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="37%" nowrap="nowrap"> Raw Materials </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="6%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="23%" nowrap="nowrap"> 1,675,341 </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="5%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="4%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="25%" nowrap="nowrap"> 1,691,500 </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="37%" nowrap="nowrap"> Work in Process </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="6%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="23%" nowrap="nowrap"> 148,573 </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="5%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="25%" nowrap="nowrap"> 221,225 </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="37%" nowrap="nowrap"> Finished Goods </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="6%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="23%" nowrap="nowrap"> 442,169 </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="5%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="25%" nowrap="nowrap"> 442,017 </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="37%" nowrap="nowrap"> Allowance / Reserve </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="6%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="23%" nowrap="nowrap"> (2,256,223) </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="5%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="4%" nowrap="nowrap">   </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="25%" nowrap="nowrap"> (2,256,399) </td> </tr> <tr style="height: 15.75pt;"> <td style="padding: 0in 5.4pt; height: 15.75pt;" valign="bottom" width="37%" nowrap="nowrap"> Totals </td> <td style="padding: 0in 5.4pt; height: 15.75pt; border-top-color: windowtext; border-bottom-color: windowtext; border-top-width: 1pt; border-bottom-width: 2.25pt; border-top-style: solid; border-bottom-style: double;" valign="bottom" width="6%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 15.75pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="23%" nowrap="nowrap"> 9,860 </td> <td style="padding: 0in 5.4pt; height: 15.75pt;" valign="bottom" width="5%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15.75pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="4%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 15.75pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="25%" nowrap="nowrap"> 98,343 </td> </tr> </table>

<p style="font: /normal 'times new roman'; margin: 0in 0in 0pt; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; background-color: #ffffff; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;">Liabilities measured at fair value on a recurring basis at March 31, 2013, are summarized as follows: <p style="font: /normal 'times new roman'; margin: 0in 0in 0pt; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; background-color: #ffffff; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;">  <div align="left" style="font: /normal 'times new roman'; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; background-color: #ffffff; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;"> <table style="width: 1567px; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="25%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="17%" colspan="2" nowrap="nowrap"> Level 1 </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="17%" colspan="2" nowrap="nowrap"> Level 2 </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="17%" colspan="2" nowrap="nowrap"> Level 3 </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="17%" colspan="2" nowrap="nowrap"> Total </td> </tr> <tr style="height: 6pt;"> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="25%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="14%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="14%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="13%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="13%" nowrap="nowrap"> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="25%" nowrap="nowrap"> Fair value of derivatives </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="3%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="3%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 458,475 </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="4%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="13%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="4%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="13%" nowrap="nowrap"> 458,475 </td> </tr> </table> </div> <p style="font: /normal 'times new roman'; margin: 0in 0in 0pt; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; background-color: #ffffff; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;">  <p style="font: /normal 'times new roman'; margin: 0in 0in 0pt; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; background-color: #ffffff; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;">Liabilities measured at fair value on a recurring basis at December 31, 2012, are summarized as follows: <p style="font: /normal 'times new roman'; margin: 0in 0in 0pt; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; background-color: #ffffff; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;">  <div align="left" style="font: /normal 'times new roman'; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; background-color: #ffffff; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;"> <table style="width: 1567px; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="25%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="17%" colspan="2" nowrap="nowrap"> Level 1 </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="17%" colspan="2" nowrap="nowrap"> Level 2 </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="17%" colspan="2" nowrap="nowrap"> Level 3 </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="17%" colspan="2" nowrap="nowrap"> Total </td> </tr> <tr style="height: 6pt;"> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="25%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="14%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="14%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="13%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 6pt;" valign="bottom" width="13%" nowrap="nowrap"> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="25%" nowrap="nowrap"> Fair value of derivatives </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="3%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="3%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 829,090 </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="4%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="13%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="4%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="13%" nowrap="nowrap"> 829,090 </td> </tr> </table> </div>

<div align="center"> <table style="width: 100%; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"> <tr style="height: 12.75pt;"> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="31%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="12%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="13%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="17%" nowrap="nowrap"> Weighted- </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="12%" nowrap="nowrap"> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="31%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="12%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="17%" colspan="2" nowrap="nowrap"> Weighted- </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="17%" nowrap="nowrap"> Average </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="16%" colspan="2" nowrap="nowrap"> Aggregate </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="31%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="12%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="17%" colspan="2" nowrap="nowrap"> Average </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="17%" nowrap="nowrap"> Remaining </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="16%" colspan="2" nowrap="nowrap"> Intrinsic </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="31%" nowrap="nowrap">   </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="12%" nowrap="nowrap"> Shares </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%" nowrap="nowrap">   </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="17%" colspan="2" nowrap="nowrap"> Exercise Price </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="3%" nowrap="nowrap">   </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="17%" nowrap="nowrap"> Contractual Life </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%" nowrap="nowrap">   </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="16%" colspan="2" nowrap="nowrap"> Value </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="31%" nowrap="nowrap"> Outstanding at December 31, 2012 </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="12%" nowrap="nowrap"> 3,600,000 </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="4%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="13%" nowrap="nowrap"> 0.0123 </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="17%" nowrap="nowrap"> 0.013 </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="4%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="12%" nowrap="nowrap"> - </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="31%" nowrap="nowrap"> Granted </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="12%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="13%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="17%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="12%" nowrap="nowrap"> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="31%" nowrap="nowrap"> Exercised </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="12%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="13%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="17%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="12%" nowrap="nowrap"> </td> </tr> <tr style="height: 12.75pt;"> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="31%" nowrap="nowrap"> Expired </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="12%" nowrap="nowrap"> (3,600,000) </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="4%" nowrap="nowrap">   </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="13%" nowrap="nowrap"> 0.0123 </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="17%" nowrap="nowrap">   </td> <td style="padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="4%" nowrap="nowrap">   </td> <td style="padding: 0in 5.4pt; height: 12.75pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="12%" nowrap="nowrap"> - </td> </tr> <tr style="height: 13.5pt;"> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="31%" nowrap="nowrap"> Outstanding at March 31, 2013 </td> <td style="padding: 0in 5.4pt; height: 13.5pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="12%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="4%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 13.5pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="13%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="17%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="4%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 13.5pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="12%" nowrap="nowrap"> - </td> </tr> <tr style="height: 13.5pt;"> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="31%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="12%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="13%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="17%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="4%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="12%" nowrap="nowrap"> </td> </tr> <tr style="height: 13.5pt;"> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="31%" nowrap="nowrap"> Exercisable at March 31, 2013 </td> <td style="padding: 0in 5.4pt; height: 13.5pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="12%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="4%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 13.5pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="13%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="3%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="17%" nowrap="nowrap"> - </td> <td style="padding: 0in 5.4pt; height: 13.5pt;" valign="bottom" width="2%" nowrap="nowrap"> </td> <td style="padding: 0in 5.4pt; height: 13.5pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="4%" nowrap="nowrap"> $ </td> <td style="padding: 0in 5.4pt; height: 13.5pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="12%" nowrap="nowrap"> - </td> </tr> </table> </div>

<div align="left"> <table style="width: 100%; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"> <tr style="height: 15pt;"> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="30%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> Electronics </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> Contract </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> Marketing </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> Beverage </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> </tr> <tr style="height: 15pt;"> <td style="background: white; padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="30%" nowrap="nowrap"> </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="14%" nowrap="nowrap"> Assembly </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="14%" nowrap="nowrap"> Manufacturing </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="14%" nowrap="nowrap"> and Media </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="14%" nowrap="nowrap"> Distribution </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="14%" nowrap="nowrap"> Total </td> </tr> <tr style="height: 15pt;"> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="30%" nowrap="nowrap"> Three Months Ended March 31, 2013 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> </tr> <tr style="height: 15pt;"> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="30%" nowrap="nowrap"> Sales to external customers </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> $ - </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> $ 31,132 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> $ - </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> $ 837,020 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 868,152 </td> </tr> <tr style="height: 15pt;"> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="30%" nowrap="nowrap"> Segment income (loss) </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 21,509 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> (12,454) </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> - </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 423,425 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 432,480 </td> </tr> <tr style="height: 12.75pt;"> <td style="background: white; padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="30%" nowrap="nowrap"> Segment assets </td> <td style="background: white; padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="14%" nowrap="nowrap"> 338,589 </td> <td style="background: white; padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="14%" nowrap="nowrap"> 37,089 </td> <td style="background: white; padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="14%" nowrap="nowrap"> - </td> <td style="background: white; padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="14%" nowrap="nowrap"> 218,337 </td> <td style="background: white; padding: 0in 5.4pt; height: 12.75pt;" valign="bottom" width="14%" nowrap="nowrap"> 594,015 </td> </tr> <tr style="height: 15pt;"> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="30%" nowrap="nowrap"> Depreciation and amortization </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 4,331 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 10,807 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> - </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> - </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 15,138 </td> </tr> <tr style="height: 15pt;"> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="30%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> </tr> <tr style="height: 15pt;"> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="30%" nowrap="nowrap"> Three Months Ended March 31, 2012 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap">   </td> </tr> <tr style="height: 15pt;"> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="30%" nowrap="nowrap"> Sales to external customers </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> $ - </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> $ 31,084 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> $ - </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> $ 587,616 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> $ 618,700 </td> </tr> <tr style="height: 15pt;"> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="30%" nowrap="nowrap"> Segment income (loss) </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> (254,674) </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 1,923 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> (15) </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> (1,035,330) </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> (1,288,096) </td> </tr> <tr style="height: 15pt;"> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="30%" nowrap="nowrap"> Segment assets </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 380,021 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 148,887 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> - </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 377,105 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 906,013 </td> </tr> <tr style="height: 15pt;"> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="30%" nowrap="nowrap"> Depreciation and amortization </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 5,165 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 22,344 </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> - </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> - </td> <td style="background: white; padding: 0in 5.4pt; height: 15pt;" valign="bottom" width="14%" nowrap="nowrap"> 27,509 </td> </tr> </table> </div>

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<div style="width: 100%; padding-right: 0%; padding-left: 0%;"> NOTE 10 – CAPITAL STOCK   In January 2013, YA Global Investments (formerly known as Cornell Capital Partners, LP) elected to convert debt on two occasions in the amount of $25,536 and $100,000 of their convertible debt into 125,536,000 shares of the Company’s common stock at a price of $0.001 per share. </div> <div style="page-break-before: always;"> </div> <div><a name="page_15"></a><a name="_bclpageborder15"></a></div> <div style="width: 100%; padding-right: 0%; padding-left: 0%;"> In January 2013, three unrelated parties elected to convert debt in the amount of $32,000, $20,000, $30,000, $29,000 and $35,000 into 146,000,000 shares of the Company’s common stock at prices ranging from $0.0009 to $0.001 per share.   In January through March 2013, a related party elected to convert debt in the amount of $25,000, $25,000, $25,000 and $25,000 into 100,000,000 shares of the Company’s common stock at a price of $0.001 per share.   In January 2013, an unrelated party elected to convert debt in the amount of $28,000 and $22,100 into 20,000,000 shares of the Company’s common stock at prices ranging from $0.0017 to $0.0020 per share.   In February 2013, an unrelated party was issued 4,000,000 shares of the Company’s stock for $20,800 in debt that was settled during the year ended December 31, 2010 at a price of $0.0063 per share.   In March 2013, YA Global Investments (formerly known as Cornell Capital Partners, LP) elected to convert debt on three occasions in the amount of $100,000, $67,200, and $95,100 of their convertible debt into 219,377,621 shares of the Company’s common stock at prices ranging from $0.0011 to $0.0013 per share. </div>

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Increase (Decrease) In Fair Value Of Derivative Instruments, Not Designated As Hedging Instruments Change in valuation of derivative Gain on derivative valuation Loan Processing Fee Loan fees Changes In Assets and Liabilities Changes in assets and liabilities: Change In Trade Accounts Receivable Change in trade accounts receivable Trade accounts receivable Change In Inventories Change in inventories Inventory Change In Other Current Assets Other assets Other current assets Increase (Decrease) In Other Noncurrent Assets Other assets Other assets Change In Accounts Payable Accounts payable Change In Related Party Payable Related-party payable Change In Accrued Liabilities Accrued liabilities Accrued liabilities Increase (Decrease) In Employee Related Liabilities Accrued payroll and compensation expense Increase (Decrease) In Customer Deposits Refundable customer deposits Increase (Decrease) In Accrued Interest Receivable, Net Accrued interest Accrued interest Change In Deferred Revenue Deferred revenue Net Cash Provided By (Used In) Operating Activities, Continuing Operations Net cash used in operating activities Net cash provided by (used in) operating activities Net Cash Provided By (Used In) Financing Activities, Continuing Operations [Abstract] Cash flows from financing activities Proceeds From Notes Payable Proceeds from notes payable Checks Written In Excess Of Bank Balance {1} Checks written in excess of bank balance Checks written in excess of bank balance Proceeds From Noncontrolling Interests Proceeds from non-controlling interest Proceeds From Short-Term Advances Proceeds from short-term advances Payments On Convertible Debenture Accrued Interest Payments on convertible debenture accrued interest The cash outflow from payments on convertible debenture accrued interest. Payments on convertible debenture accrued interest Payments On Short-Term Advances Payments on short-term advances Payments on short-term advances Net Cash Provided By (Used In) Financing Activities, Continuing Operations Net cash provided by (used in) financing activities Net cash provided by (used in) financing activities Net Increase (Decrease) In Cash and Cash Equivalents Net increase (decrease) in cash and cash equivalents Net increase (decrease) in cash and cash equivalents Supplemental Disclosure Of Cash Flow Information Supplemental disclosure of cash flow information: Cash Paid During Period For Interest Cash paid during the period for interest Noncash Investing and Financing Activities Noncash investing and financing activities: Debt and Accrued Liabilities Converted To Equity Debt and accrued liabilities converted to equity The value of debt and accrued liabilities converted to equity noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Organization, Consolidation and Presentation Of Financial Statements [Abstract] Organization, Consolidation and Presentation of Financial Statements [Abstract] Basis Of Accounting [Text Block] BASIS OF PRESENTATION Realization Of Assets [Abstract] Realization Of Assets [Abstract] Realization Of Assets [Text Block] REALIZATION OF ASSETS The entire disclosure for all or part of the information related to realization of assets. Inventory Disclosure [Abstract] Inventory Disclosure [Abstract] Inventory Disclosure [Text Block] INVENTORIES Related Party Transactions [Abstract] Related Party Transactions [Abstract] Related Party Transactions Disclosure [Text Block] RELATED-PARTY TRANSACTIONS Commitments and Contingencies Disclosure [Abstract] Commitments and Contingencies Disclosure [Abstract] Commitments and Contingencies Disclosure [Text Block] COMMITMENTS AND CONTINGENCIES Notes Payable [Abstract] Notes Payable [Abstract] Notes Payable [Text Block] NOTES PAYABLE The entire disclosure for notes payable. Investments, All Other Investments [Abstract] Investments, All Other Investments [Abstract] Financial Instruments Disclosure [Text Block] FINANCIAL INSTRUMENTS Fair Value Disclosures [Abstract] Fair Value Disclosures [Abstract] Fair Value Disclosures [Text Block] FAIR VALUE MEASUREMENTS Stockholders' Equity Note [Abstract] Stockholders' Equity Note [Abstract] Stockholders' Equity Note Disclosure [Text Block] STOCKHOLDERS' DEFICIT Capital Stock [Abstract] Capital Stock [Abstract] Capital Stock [Text Block] CAPITAL STOCK The entire disclosure for capital stock. Equity [Abstract] Equity Shareholders' Equity and Share-Based Payments [Text Block] STOCK OPTIONS AND WARRANTS Segment Reporting [Abstract] Segment Reporting Segment Reporting Disclosure [Text Block] SEGMENT INFORMATION Geographic Information [Abstract] Geographic Information [Abstract] Geographic Information [Text Block] Geographic Information GEOGRAPHIC INFORMATION Represents the entire disclosure of geographic information. Subsequent Events [Abstract] Subsequent Events Subsequent Events [Text Block] SUBSEQUENT EVENTS Schedule Of Inventory, Current [Table Text Block] Schedule of inventories stated at the lower of average cost or market Fair Value, Liabilities Measured On Recurring Basis [Table Text Block] Schedule of liabilities measured at fair value on a recurring basis Schedule Of Share-Based Compensation, Stock Options, Activity [Table Text Block] Schedule of summary of the stock option activity under the plans Schedule Of Segment Reporting Information, By Segment [Table Text Block] Schedule of segment information Working Capital Negative working capital The balance during the reporting period of all assets and liabilities used in operating activities. Working capital Inventory, Raw Materials, Gross Raw Materials Inventory, Work In Process, Gross Work in Process Inventory, Finished Goods, Gross Finished Goods Schedule Of Related Party Transactions, By Related Party [Table] Schedule of Related Party Transactions, by Related Party [Table] Related Party [Axis] Related Party [Axis] Related Party [Domain] Related Party [Domain] Fadi Nora [Member] Fadi Nora Represents one of the Board of Director. Board Of Directors [Member] Board Of Directors Represents the entity's board of directors who presides over board meetings and other board activities. President President Mr. Hawatmeh Related Party Transaction [Line Items] Related Party Transaction [Line Items] Percentage Of Gross Sales Entitled As Quarterly Bonus Percentage of gross sales entitled as quarterly bonus Represents the percentage of gross sales entitled as a quarterly bonus to related party. Compensation Payable To Related Party Compensation payable to related party Represents the compensation to related party as of balance sheet date. Unsecured Advances Payable To Related Party Unsecured advances payable to related party Represents the carrying value of unsecured advances payable to related party as of balance sheet date. Percentage Of Borrowing Fee To Related Party Percentage of borrowing fee Represents the percentage of borrowing fee to related party under approval of advances and short-term bridge loans. Accrued Liabilities To Related Party Accrued liabilities to related party Represents the carrying value of accrued liabilities to related party as of balance sheet date. Number Of Options Issued Number of options issued Stock options granted Number Of Shares Purchased To Grant Options Number of shares purchased to grant options Number of shares of common stock purchased Accrued Options To Related Party Accrued options to related party Represent number of Options To Related Party. Fair Market Value Of Accrued Options Fair market value of accrued options Represents the fair market value of accrued options as of balance sheet date. Expected Term For Options Expected term for options Estimated Volatility Estimated volatility Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Discount Rate Discount rate Discount rate Represent the discount rate of the underlying shares over the option's term. Family Member Of President [Member] Family Member Of President Represents the family member of entity's president. Short-Term Debt, Type [Axis] Short-term Debt, Type [Axis] Short-Term Debt, Type [Domain] Short-term Debt, Type [Domain] Promissory Notes [Member] Short-term promissory notes Promissory Notes Represents a promissory note is a negotiable instrument, wherein one party (the maker or issuer) makes an unconditional promise in writing to pay a determinate sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms. Promissory Notes At Interest Rate Of 10 Percent Due On Demand May 2008 [Member] Promissory Notes At Interest Rate Of 10 Percent Due On Demand May 2008 Represents a promissory note is a negotiable instrument, wherein one party (the maker or issuer) makes an unconditional promise in writing to pay a determinate sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms. Promissory Notes At Interest Rate Of 12 Percent Due On Demand April 2008 [Member] Promissory Notes At Interest Rate Of 12 Percent Due On Demand April 2008 Represents a promissory note is a negotiable instrument, wherein one party (the maker or issuer) makes an unconditional promise in writing to pay a determinate sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms. Stated Percentage Of Promissory Note Interest bearing rate of notes Interest rate Debt Instrument, Increase, Additional Borrowings Promissory notes issued Amount of promissory note issued Debt Instrument Increase Additional Borrowings Two Promissory notes issued to family member, along with four other Company shareholders Increase of additional borrowings on existing and new debt instruments. Notes Payable Issued To Family Person Notes payable issued to family member Represents the amount for notes payable issued to family member. Proceeds From Issuance Of Debt Proceeds from issuance of promissory notes Debt Instrument, Interest Rate During Period Rate of interest during the period President and Director [Member] President and a Director Represents president and director of the entity. Promissory Notes One [Member] First note Represents a promissory note is a negotiable instrument, wherein one party (the maker or issuer) makes an unconditional promise in writing to pay a determinate sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms. Promissory Notes Two [Member] Second note Represents a promissory note is a negotiable instrument, wherein one party (the maker or issuer) makes an unconditional promise in writing to pay a determinate sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms. Promissory Notes Three [Member] Third note Represents a promissory note is a negotiable instrument, wherein one party (the maker or issuer) makes an unconditional promise in writing to pay a determinate sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms. Promissory Notes Four [Member] Fourth note Represents a promissory note is a negotiable instrument, wherein one party (the maker or issuer) makes an unconditional promise in writing to pay a determinate sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms. Number Of Debt Instruments Number of promissory notes Number of promissory notes Represents the number of debt instruments. Term Of Debt Instrument Term of promissory notes Term of promissory notes Represents the term of debt instrument. Grace Period For Debt Instrument Grace period of promissory notes Grace period of promissory notes Represents the grace period with the term of debt instrument. EX-101.PRE 9 circ-20130331_pre.xml XBRL PRESENTATION LINKBASE DOCUMENT XML 10 R39.htm IDEA: XBRL DOCUMENT

NOTES PAYABLE (Detail Textuals) (18% Promissory notes payable, USD $)	1 Months Ended
	Jan. 31, 2013	Feb. 29, 2012
18% Promissory notes payable
Short-term Debt [Line Items]
Interest rate		18.00%
Holding period of promissory note		90 days
Amount of promissory note issued		$ 30,000
Borrowing fee of promissory note		$ 5,000
Conversion of promissory note into shares	32,000,000

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SEGMENT INFORMATION (Detail Textuals)	3 Months Ended
SEGMENT INFORMATION (Detail Textuals)	Mar. 31, 2013 Segment
Segment Reporting [Abstract]
Number of reportable segments	4

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STOCK OPTIONS AND WARRANTS (Detail Textuals 1) (Warrant, Ya global forbearance agreements)	Jan. 24, 2011
Warrant \| Ya global forbearance agreements
Class of Warrant or Right [Line Items]
Number of shares of common stock purchased	25,000,000
Exercise price	0.02

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COMMITMENTS AND CONTINGENCIES (Detail Textuals 1) (Ya global forbearance agreements, USD $)	1 Months Ended
	Jul. 22, 2011	Sep. 25, 2010	Feb. 23, 2011
Ya global forbearance agreements
Loss Contingencies [Line Items]
Loss contingency, damages sought		$ 4,193,380
Principal amount, litigation settlement			3,161,354
Interest amount, litigation settlement			825,858
Legal fees paid to ABS	$ 35,000

- Definition

The value (monetary amount) of the award the plaintiff seeks in the legal matter.

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INVENTORIES (Details) (USD $)	Mar. 31, 2013	Dec. 31, 2012
Inventory Disclosure [Abstract]
Raw Materials	$ 1,675,341	$ 1,691,500
Work in Process	148,573	221,225
Finished Goods	442,169	442,017
Allowance / Reserve	(2,256,223)	(2,256,399)
Totals	$ 9,860	$ 98,343

- Definition

The amount of the valuation account as of the balance sheet date which reduces the carrying amount of inventory to net realizable value; takes into consideration such factors as market value, excessive quantities based on expected sales, technological obsolescence, and shrinkage. May also provide for estimated product returns or price concessions pertaining to product cost.

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-Name Accounting Research Bulletin (ARB)

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SUBSEQUENT EVENTS (Details) (USD $)	3 Months Ended	0 Months Ended	1 Months Ended
SUBSEQUENT EVENTS (Details) (USD $)	Mar. 31, 2013 Related party Convertible debt	Apr. 15, 2013 Subsequent event Vendor	Apr. 30, 2013 Subsequent event Vendor Convertible debt	Apr. 30, 2013 Subsequent event Related party Convertible debt	Apr. 30, 2013 Subsequent event Settlement and release agreement LIB-MP
Subsequent Event [Line Items]
Due from related parties amount relieved					$ 1,400,000
Amount of convertible debt converted	25,000		20,000	33,750
Conversion of promissory note into shares	100,000,000		20,000,000	33,750,000
Conversion price	$ 0.001		$ 0.001	$ 0.0008
Accounts payable, related parties		$ 27,000
Number of shares issued for settlement of accounts payable		30,000,000

- Definition

Amount for accounts payable to related parties.

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STOCKHOLDERS' DEFICIT (Detail Textuals) (USD $)	3 Months Ended			12 Months Ended
STOCKHOLDERS' DEFICIT (Detail Textuals) (USD $)	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2013 Common stock	Dec. 31, 2012 Common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially issuable common shares			4,313,029,000	4,401,029,000
Increase in stockholders' deficit	$ (105,576)
Net loss attributable to noncontrolling interest	$ (326,904)	$ (153,970)

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

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- Definition

Amount of Net Income (Loss) attributable to noncontrolling interest.

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COMMITMENTS AND CONTINGENCIES (Detail Textuals 5) (USD $)		1 Months Ended
	Mar. 31, 2013	May 31, 2009 Compensation Agreement Play Beverages Llc Mr. Hawatmeh	May 31, 2009 Compensation Agreement Play Beverages Llc Mr. Nora
Commitments and Contingencies [Line Items]
Monthly fee for each manager		$ 10,000	$ 10,000
Car allowance per month			1,000
Accrued compensation included in related-party payables	$ 1,008,150

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SEGMENT INFORMATION (Details) (USD $)	3 Months Ended
SEGMENT INFORMATION (Details) (USD $)	Mar. 31, 2013	Mar. 31, 2012
Segment Reporting Information [Line Items]
Sales to external customers	$ 868,152	$ 618,700
Segment income (loss)	(432,480)	(1,288,096)
Segment assets	594,015	906,013
Depreciation and amortization	15,138	27,509
Electronics Assembly
Segment Reporting Information [Line Items]
Sales to external customers
Segment income (loss)	21,509	(254,674)
Segment assets	338,589	380,021
Depreciation and amortization	4,331	5,165
Contract Manufacturing
Segment Reporting Information [Line Items]
Sales to external customers	31,132	31,084
Segment income (loss)	(12,454)	1,923
Segment assets	37,089	148,887
Depreciation and amortization	10,807	22,344
Marketing and Media
Segment Reporting Information [Line Items]
Sales to external customers
Segment income (loss)		(15)
Segment assets
Depreciation and amortization
Beverage Distribution
Segment Reporting Information [Line Items]
Sales to external customers	837,020	587,616
Segment income (loss)	423,425	(1,035,330)
Segment assets	218,337	377,105
Depreciation and amortization

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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RELATED-PARTY TRANSACTIONS	3 Months Ended
RELATED-PARTY TRANSACTIONS	Mar. 31, 2013
Related Party Transactions [Abstract]
RELATED-PARTY TRANSACTIONS	NOTE 4 – RELATED-PARTY TRANSACTIONS *Transactions Involving Officers, Directors, and Stockholders* - In 2007, the Company appointed Fadi Nora to its Board of Directors. In addition to compensation the Company normally pays to nonemployee members of the Board, Mr. Nora is entitled to a quarterly bonus equal to 0.5% of any gross sales earned by the Company directly through Mr. Nora’s efforts. As of March 31, 2013, the Company owed $64,916 under this arrangement. As of March 31, 2013, the Company owed Mr. Nora $1,040,829 in the form of unsecured advances. These advances and short-term bridge loans were approved by the Board of Directors under a 5% borrowing fee. The borrowing fees were waived by Mr. Nora on these loans. In addition, the Company owed Mr. Nora $366,635 in accrued liabilities as of March 31, 2013, for selling, general, and administrative expenses that were paid for by Mr. Nora on a personal credit card. The Company has agreed to issue 2,400,000 options to Mr. Nora as compensation for services provided as a Director of the Company. The terms of the director agreement require the Company to grant to Mr. Nora options to purchase 2,400,000 shares of the Company’s stock each year, with the exercise price of the options being the market price of the Company’s common stock as of the grant date. During the three months ended March 31, 2013, the Company accrued for 2,400,000 stock options relating to the director agreement with Mr. Nora. The fair market value of the options was $4,069, using the following assumptions: 7.0-year term, estimated volatility of 224.82%, and a discount rate of 0.0% (see also Note 10). In 2007, the Company issued a 10% promissory note to a family member of the Company President in exchange for $300,000. The note was due on demand after May 2008. During the three months ended March 31, 2013, the Company made no payments towards the outstanding note. At March 31, 2013, the principal amount owing on the note was $151,833. On March 31, 2008, the Company issued to this same family member, along with four other Company shareholders, promissory notes totaling $315,000. The family member’s note was for $105,000. Under the terms of all the notes, the Company received total proceeds of $300,000 and agreed to repay the amount received plus a 5% borrowing fee. The notes were due April 30, 2008, after which they were due on demand, with interest accruing at 12% per annum. During the three months ended March 31, 2013, the Company made no payments towards the outstanding notes. The principal balance owing on the promissory notes as of March 31, 2013, totaled $72,465. On April 2, 2009, the Company President and a Director of the Company borrowed from a third party a total of $890,000 in the form of four short-term promissory notes. The Company President and the Director of the Company signed personally for the notes. Because the loans were used to pay obligations of the Company, the Company has assumed full responsibility for the notes. Two of the notes were for a term of 60 days, with a 60-day grace period; a third note was for a term of 90 days; and a fourth note was for 24 days. Loan fees totaling $103,418 were incurred with the issuance of the notes and are payable upon maturity of the notes. At March 31, 2013, these notes comprise a portion of short-term advances payable of $3,146,911. As of March 31, 2013, all four notes were in default and are accruing interest at the default rate of 36% per year. The Company has agreed to issue 6,000,000 options each year to the Company President as compensation for services provided as an officer of the Company. The terms of the employment agreement require the Company to grant to the Company President options to purchase 6,000,000 shares of the Company’s stock each year, with the exercise price of the options being the market price of the Company’s common stock as of the grant date. During the three months ended March 31, 2013, the Company accrued for 6,000,000 stock options relating to the employee agreement with Mr. Hawatmeh. The fair market value of the options was $10,171, using the following assumptions: estimated 7.0-year term, estimated volatility of 224.82%, and a discount rate of 0.0% (see also Note 10). As of March 31, 2013, the Company owed the Company President a total of $179,773 in short-term advances payable and 30,000,000 stock options with an aggregated fair value at time of grant of $154,537. These advances and short-term bridge loans were approved by the Board of Directors under a 5% borrowing fee. The borrowing fees were waived by the Company’s President on these loans. *Sublease* - In an effort to operate more efficiently and focus resources on higher margin areas of the Company’s business, on March 5, 2010, the Company and Katana Electronics, LLC, a Utah limited liability company (“Katana”), entered into certain agreements (collectively, the “Agreements”) to reduce the Company’s costs. The Agreements include an Assignment and Assumption Agreement, an Equipment Lease, and a Sublease Agreement relating to the Company’s property. Pursuant to the terms of the Sublease, the Company agreed to sublease a certain portion of the Company’s premises to Katana, consisting of the warehouse and office space used as of the close of business on March 4, 2010. The term of the Sublease was for two months with automatic renewal periods of one month each. The base rent under the Sublease is $8,500 per month. The Sublease contains normal and customary use restrictions, indemnification rights and obligations, default provisions, and termination rights. Under the Agreements signed, the Company continues to have rights to operate as a contract manufacturer in the future in the U.S. and offshore. On July 1, 2011, Katana had assumed the full lease payment, and the Company agreed to pay Katana $5,000 per month for the use of office space and utilities. The Company recorded a rent expense of $15,000 and $15,000 for the three months ended March 31, 2013 and 2012, respectively.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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CAPITAL STOCK (Detail Textuals) (Convertible debt, USD $)	1 Months Ended			1 Months Ended			3 Months Ended			1 Months Ended
	Jan. 31, 2013 Three unrelated parties Unrelated_Party	Jan. 31, 2013 Three unrelated parties Maximum	Jan. 31, 2013 Three unrelated parties Minimum	Feb. 28, 2013 Unrelated parties	Jan. 31, 2013 Unrelated parties	Mar. 31, 2013 Unrelated parties	Mar. 31, 2013 Related party	Jan. 31, 2013 Related party Maximum	Jan. 31, 2013 Related party Minimum	Mar. 31, 2013 YA Global Investments	Jan. 31, 2013 YA Global Investments Occasion	Mar. 31, 2013 YA Global Investments Maximum	Mar. 31, 2013 YA Global Investments Minimum
Capital Stock [Line Items]
Amount of convertible debt converted	$ 32,000			$ 20,800	$ 28,000		$ 25,000			$ 100,000	$ 25,536
Amount of second convertible debt converted	20,000				22,100		25,000			67,200	100,000
Amount of third convertible debt converted	30,000						25,000			95,100
Amount of fourth convertible debt converted	29,000						25,000
Amount of fifth convertible debt converted	$ 35,000
Numbers of shares issued on debt conversion	146,000,000			4,000,000	20,000,000		100,000,000			219,377,621	125,536,000
Conversion price		$ 0.001	$ 0.0009	$ 0.0063		$ 0.0063	$ 0.001	$ 0.0020	$ 0.0017		$ 0.001	$ 0.0013	$ 0.0011
Number of occasions											2
Number of unrelated party	3

XML 23 R29.htm IDEA: XBRL DOCUMENT

RELATED-PARTY TRANSACTIONS (Detail Textuals 3) (President, USD $)	3 Months Ended
	Mar. 31, 2013
President
Related Party Transaction [Line Items]
Number of shares purchased to grant options	6,000,000
Accrued options to related party	6,000,000
Fair market value of accrued options	$ 10,171
Expected term for options	7 years
Estimated volatility	224.82%
Discount rate	0.00%

- Definition

The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period.

+ References+ Details

- Definition

The number of shares purchased on the open market during the period for issuance to employees under the plan.

+ References+ Details

XML 24 R28.htm IDEA: XBRL DOCUMENT

RELATED-PARTY TRANSACTIONS (Detail Textuals 2) (President and a Director, USD $)	0 Months Ended	3 Months Ended
	Apr. 02, 2009 Promissory_note	Mar. 31, 2013 Promissory_note
Short-term promissory notes
Related Party Transaction [Line Items]
Amount of promissory note issued	$ 890,000
Number of promissory notes	4
Loan fees	103,418
Short-term advances payable		$ 3,146,911
Number of notes in default		4
Default rate of accruing interest on notes		36.00%
First note
Related Party Transaction [Line Items]
Term of promissory notes	60 days
Grace period of promissory notes	60 days
Second note
Related Party Transaction [Line Items]
Term of promissory notes	60 days
Grace period of promissory notes	60 days
Third note
Related Party Transaction [Line Items]
Term of promissory notes	90 days
Fourth note
Related Party Transaction [Line Items]
Term of promissory notes	24 days

XML 25 R44.htm IDEA: XBRL DOCUMENT

STOCK OPTIONS AND WARRANTS (Details) (Stock options, USD $)	3 Months Ended
	Mar. 31, 2013
Stock options
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at December 31, 2012	3,600,000
Stock options granted
Exercised
Expired	(3,600,000)
Outstanding at March 31, 2013
Exercisable March 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Outstanding at December 31, 2012	$ 0.0123
Granted
Exercised
Expired	$ 0.0123
Outstanding at March 31, 2013
Exercisable at March 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted-average remaining contractual life for options outstanding	5 days
Aggregate intrinsic value for options outstanding at December 31, 2012
Aggregate intrinsic value for options, outstanding at March 31, 2013
Aggregate intrinsic value for options, exercisable at March 31, 2013

XML 26 R30.htm IDEA: XBRL DOCUMENT

RELATED-PARTY TRANSACTIONS (Detail Textuals 4) (President, USD $)	3 Months Ended
	Mar. 31, 2013
President
Related Party Transaction [Line Items]
Short-term advances payable to related party	$ 179,773
Stock options granted	30,000,000
Fair value of stock options granted	$ 154,537
Borrowing fee	5.00%

XML 27 R31.htm IDEA: XBRL DOCUMENT

RELATED-PARTY TRANSACTIONS (Detail Textuals 5) (Katana Electronics Llc, USD $)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Katana Electronics Llc
Related Party Transaction [Line Items]
Term of Sublease	2 months
Term of automatic renewal periods	one month each
Base rent under the Sublease per month	$ 8,500
Future operating lease payment per month	5,000
Rent expense	$ 15,000	$ 15,000

XML 28 R8.htm IDEA: XBRL DOCUMENT

INVENTORIES

3 Months Ended

Mar. 31, 2013

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 3 - INVENTORIES

Inventories are stated at the lower of average cost or market and consisted of the following:

		March 31,		December 31,
		2013		2012
Raw Materials	$	1,675,341	$	1,691,500
Work in Process		148,573		221,225
Finished Goods		442,169		442,017
Allowance / Reserve		(2,256,223)		(2,256,399)
Totals	$	9,860	$	98,343

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

+ References+ Details

XML 29 R32.htm IDEA: XBRL DOCUMENT

COMMITMENTS AND CONTINGENCIES (Detail Textuals) (USD $)	Mar. 31, 2013
Commitments and Contingencies Disclosure [Abstract]
Total litigation and claims	$ 2,250,000

XML 30 R40.htm IDEA: XBRL DOCUMENT

FINANCIAL INSTRUMENTS (Detail Textuals) (USD $)	Mar. 31, 2013	Dec. 31, 2012
Investments, All Other Investments [Abstract]
Fair value of derivatives	$ 458,475	$ 829,090

- Definition

Derivative instrument obligations meeting the definition of a liability which the Company is a party to as of the balance sheet date.

+ References+ Details

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)

Mar. 31, 2013

Dec. 31, 2012

Current assets

Cash and cash equivalents $ 10,721 $ 7,883

Trade accounts receivable, net of allowance for doubtful accounts of $832,093 and $832,093, respectively 83,285 162,468

Inventory, net of reserve of $2,256,223 and $2,256,399 , respectively 9,860 98,343

Other 81,115 7,866

Total current assets 184,981 276,560

Investment in securities, at cost 300,000 300,000

Long-term receivable, net of allowance of $1,582,895

Property and equipment, net 70,896 86,034

Other assets, net 109,774 224,488

Total assets 665,651 887,082

Current liabilities

Checks written in excess of bank balance 8,925 17,118

Accounts payable 4,629,852 4,681,114

Related-party payable 1,017,368 955,656

Short-term advances payable 3,146,912 3,088,945

Accrued liabilities 2,454,257 2,445,167

Accrued payroll and compensation expense 2,698,604 2,599,533

Accrued interest 2,313,669 2,417,834

Deferred revenue 2,593,750 2,984,119

Derivative liability 458,475 829,090

Convertible debenture 3,007,228 3,132,855

Refundable customer deposits 200,000 200,201

Current maturities of long-term debt 281,585 236,585

Current liabilities to non-controlling interest holders 2,683,134 2,570,000

Note payable to stockholders and members 401,833 576,833

Total current liabilities 25,895,592 26,735,050

Total liabilities 25,895,592 26,735,050

CirTran Corporation stockholders' deficit:

Common stock, par value $0.001; authorized 4,500,000,000 shares; issued and outstanding shares: 3,156,415,910 and 2,541,502,289 3,156,416 2,541,502

Additional paid-in capital 29,887,417 29,451,824

Subscription receivable (17,000) (17,000)

Accumulated deficit (48,620,372) (48,514,796)

Total CirTran Corporation and subsidiaries stockholders' deficit (15,593,539) (16,538,470)

Non-controlling interest (9,636,402) (9,309,498)

Total stockholders' deficit (25,229,941) (25,847,968)

Total liabilities and stockholders' deficit $ 665,651 $ 887,082

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STOCK OPTIONS AND WARRANTS (Detail Textuals)
3 Months Ended

Mar. 31, 2013

Dec. 31, 2012

Mar. 31, 2013

Stock Options

Mar. 31, 2013

2012 Stock option plan

Stock Options

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares of common stock purchased 316,200,000

Stock options granted 403,000,000

Number of options not issued but accrued 104,800,000 88,000,000

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BASIS OF PRESENTATION
3 Months Ended

Mar. 31, 2013

Organization, Consolidation and Presentation Of Financial Statements [Abstract]

BASIS OF PRESENTATION
NOTE 1 – BASIS OF PRESENTATION

The accompanying unaudited condensed consolidated financial statements include the accounts of CirTran Corporation and its subsidiaries (the “Company”). These financial statements have been prepared in accordance with Article 10 of Regulation S-X promulgated by the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to such rules and regulations. These statements should be read in conjunction with the Company’s annual financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. In particular, the Company’s significant accounting policies were presented as Note 2 to the consolidated financial statements in that Annual Report. In the opinion of management, all adjustments necessary for a fair presentation have been included in the accompanying condensed consolidated financial statements and consist of only normal recurring adjustments. The results of operations presented in the accompanying condensed consolidated financial statements for the three months ended March 31, 2013, are not necessarily indicative of the results that may be expected for the 12 months ending December 31, 2013.

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COMMITMENTS AND CONTINGENCIES (Detail Textuals 3) (Delinquent payroll taxes interest and penalties, USD $)
1 Months Ended

Nov. 30, 2004

Delinquent payroll taxes interest and penalties

Commitments and Contingencies [Line Items]

Payment for acceptance of Delinquent payroll taxes, interest and penalties offer $ 500,000

Period of required offer to remain current in payment of taxes 5 years

Amount of taxes waived $ 1,455,767

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STOCK OPTIONS AND WARRANTS (Tables)
3 Months Ended

Mar. 31, 2013

Equity [Abstract]

Schedule of summary of the stock option activity under the plans

Weighted-

Weighted-

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Aggregate

Average

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Intrinsic

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Exercise Price

Contractual Life

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COMMITMENTS AND CONTINGENCIES (Detail Textuals 4) (Employment Agreement, Mr. Hawatmeh, USD $)
1 Months Ended 3 Months Ended

Aug. 31, 2009

Mar. 31, 2013

Mar. 31, 2012

Employment Agreement | Mr. Hawatmeh

Commitments and Contingencies [Line Items]

Annual base salary $ 345,000

Minimum number of shares purchased for options granted 6,000,000

Quarterly bonus as stated percentage of earnings before interest, taxes, depreciation and amortization for the applicable quarter 5.00%

Annual bonus percentage of gross sales, net of returns and allowances 1.00%

Non-cash compensation expense related to accrual for employee stock options to be awarded $ 10,171 $ 5,582

Bonus percentage of net purchase price of acquisitions completed 1.00%

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REALIZATION OF ASSETS (Detail Textuals) (USD $)
3 Months Ended

Mar. 31, 2013

Mar. 31, 2012

Dec. 31, 2012

Realization Of Assets [Abstract]

Net loss $ (432,480) $ (1,288,096)

Accumulated deficit (48,620,372) (48,514,796)

Net cash used in operating activities (154,019) 27,342

Working capital $ (25,710,611) $ (26,458,490)

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REALIZATION OF ASSETS
3 Months Ended

Mar. 31, 2013

Realization Of Assets [Abstract]

REALIZATION OF ASSETS

NOTE 2 - REALIZATION OF ASSETS

The accompanying condensed consolidated financial statements have been prepared on the assumption that the Company will continue as a going concern. The Company had a net loss of $432,480 and of $1,288,096 for the three months ended March 31, 2013 and 2012, respectively. As of March 31, 2013, the Company had an accumulated deficit of $48,620,372. In addition, the Company used cash in operations in the amount of $154,019 during the three months ended March 31, 2013 and provided cash from operations in the amount of $27,342 during the three months ended March 31, 2012. The Company also had a negative working capital balance of $25,710,611 as of March 31, 2013, and $26,458,490 as of December 31, 2012. These conditions raise substantial doubt about the Company’s ability to continue as a going concern.

The Company’s ability to continue energy drink distribution, its principal source of revenue, is subject to interruption or termination because of ongoing disputes respecting the status of the Play Beverages, LLC, or PlayBev license to market Playboy-licensed energy drinks. The Company is continuing its suit against Playboy Enterprises, Inc., or Playboy in Illinois in an effort to enjoin Playboy’s termination of the license so the Company will be able to continue its beverage distribution segment. If the Playboy licensing dispute is not resolved satisfactorily through a negotiated settlement or litigation in such proceeding, PlayBev would be required to terminate its beverage distribution activities, which are currently the source of the Company’s principal revenues. Such termination may require the Company to cease its activities and seek protection from creditors.

In view of the matters described in the preceding paragraphs, recoverability of a major portion of the recorded asset amounts shown in the accompanying consolidated balance sheets is dependent upon continued operations of the Company, which in turn is dependent upon the Company’s ability to meet its financing requirements on a continuing basis, to maintain or replace present financing, to acquire additional capital from investors, and to succeed in its future operations. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence.

The Company believes that its beverage business segment has the potential to have a substantial impact on its overall business. The Company plans to focus on the beverage business and the contract manufacturing business. For the beverage business, the Company plans to sell existing products and develop new products under the license agreement with Playboy to a globally expanding market. With regard to contract manufacturing, the Company’s goal is to provide customers with manufacturing solutions for both new and more mature products, as well as across product generations.

The Company provides product marketing services to the direct response and retail markets for both proprietary and nonproprietary products. This segment provides campaign management and marketing services for the beverage distribution, direct response, and retail markets. The Company intends to continue to provide marketing and media services to support its own product efforts and offer to customers marketing service in channels involving television, radio, print media, and the Internet. The Company intends to serve the electronics assembly and manufacturing industries, although it anticipates that its focus will shift more to providing services on a subcontract basis.

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CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) (USD $)

Mar. 31, 2013

Dec. 31, 2012

Statement Of Financial Position [Abstract]

Allowance for doubtful accounts (in dollars) $ 832,093 $ 832,093

Inventory reserve (in dollars) 2,256,223 2,256,399

Allowance for long-term receivable (in dollars) $ 1,582,895 $ 1,582,895

Common stock, par value (in dollars per share) $ 0.001 $ 0.001

Common stock, shares authorized (in shares) 4,500,000,000 4,500,000,000

Common stock, shares issued (in shares) 3,156,415,910 2,541,502,289

Common stock, shares outstanding (in shares) 3,156,415,910 2,541,502,289

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SEGMENT INFORMATION
3 Months Ended

Mar. 31, 2013

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 12 - SEGMENT INFORMATION

Segment information has been prepared in accordance with ASC 280-10, Disclosure about Segments of an Enterprise and Related Information. The Company has four reportable segments: electronics assembly, contract manufacturing, marketing and media, and beverage distribution. The electronics assembly segment manufactures and assembles circuit boards and electronic component cables. The contract manufacturing segment manufactures, either directly or through foreign subcontractors, various products under manufacturing and distribution agreements. The marketing and media segment provides marketing services to online retailers, along with beverage development and promotional services to PlayBev. The beverage distribution segment manufactures, markets, and distributes Playboy-licensed energy drinks domestically and internationally.

The accounting policies of the segments are consistent with those described in the summary of significant accounting policies. The Company evaluates performance of each segment based on earnings or loss from operations. Selected segment information is as follows:

Electronics

Contract

Marketing

Beverage

Assembly

Manufacturing

and Media

Distribution

Total

Three Months Ended March 31, 2013

Sales to external customers

$ -

$ 31,132

$ -

$ 837,020

868,152

Segment income (loss)

21,509

(12,454)

-

423,425

432,480

Segment assets

338,589

37,089

-

218,337

594,015

Depreciation and amortization

4,331

10,807

-

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15,138

Three Months Ended March 31, 2012

Sales to external customers

$ -

$ 31,084

$ -

$ 587,616

$ 618,700

Segment income (loss)

(254,674)

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Net sales $ 868,152 $ 618,700

Cost of sales (234,515) (238,150)

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Gross profit 596,143 (140,454)

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Total operating expenses 863,324 758,376

Loss from operations (267,181) (898,830)

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Interest expense (209,495) (255,661)

Gain on settlement of debt 38,352

Gain on derivative valuation 5,844 (133,605)

Total other expense, net (165,299) (389,266)

Net loss (432,480) (1,288,096)

Net loss attributable to non-controlling interest 326,904 153,970

Net loss attributable to CirTran Corporation and subsidiaries $ (105,576) $ (1,134,126)

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FINANCIAL INSTRUMENTS
3 Months Ended

Mar. 31, 2013

Investments, All Other Investments [Abstract]

FINANCIAL INSTRUMENTS
NOTE 7 - FINANCIAL INSTRUMENTS

The Company has financial instruments that are considered derivatives or contain embedded features subject to derivative accounting. Embedded derivatives are valued separately from the host instrument and are recognized as derivative liabilities in the Company’s balance sheet. The Company measures these instruments at their estimated fair value and recognizes changes in their estimated fair value in results of operations during the period of change. The Company has estimated the fair value of these embedded derivatives for convertible debentures and associated warrants using a multinomial lattice model as of March 31, 2013, and December 31, 2012, and used the Black-Scholes model prior to that. The fair values of the derivative instruments are measured each quarter. As of March 31, 2013, and December 31, 2012, the fair market value of the derivatives aggregated $458,475 and $829,090, respectively.

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NOTES PAYABLE
3 Months Ended

Mar. 31, 2013

Notes Payable [Abstract]

NOTES PAYABLE

NOTE 6 - NOTES PAYABLE

In February 2012, the Company issued an 18% interest, 90-day, $30,000 promissory note to an investor. The principal balance included a $5,000 borrowing fee. The promissory note along with accrued interest was converted to 32,000,000 shares of stock in January 2013. There was no outstanding balance as of March 31, 2013.

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SEGMENT INFORMATION (Tables)
3 Months Ended

Mar. 31, 2013

Segment Reporting [Abstract]

Schedule of segment information

Electronics

Contract

Marketing

Beverage

Assembly

Manufacturing

and Media

Distribution

Total

Three Months Ended March 31, 2013

Sales to external customers

$ -

$ 31,132

$ -

$ 837,020

868,152

Segment income (loss)

21,509

(12,454)

-

423,425

432,480

Segment assets

338,589

37,089

-

218,337

594,015

Depreciation and amortization

4,331

10,807

-

-

15,138

Three Months Ended March 31, 2012

Sales to external customers

$ -

$ 31,084

$ -

$ 587,616

$ 618,700

Segment income (loss)

(254,674)

1,923

(15)

(1,035,330)

(1,288,096)

Segment assets

380,021

148,887

-

377,105

906,013

Depreciation and amortization

5,165

22,344

-

-

27,509

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SUBSEQUENT EVENTS
3 Months Ended

Mar. 31, 2013

Subsequent Events [Abstract]

SUBSEQUENT EVENTS
NOTE 14 - SUBSEQUENT EVENTS

In April 2013, the Company entered into a Settlement Agreement and Mutual Release with LIB-MP. Under the settlement and release agreement, the parties exchanged mutual general releases without the payment by any party of any amounts to any other. Accordingly, the Company was relieved of approximately $1.4 million in amounts due LIB-MP without any payment.

In April 2013, the Company issued 20,000,000 shares of common stock at $0.001 per share to settle debt to a vendor of $20,000 and 33,750,000 shares of common stock at $0.0008 per share to settle debt to a related party of $33,750.

On April 15, 2013, the Company issued 30,000,000 shares of common stock to settle an amount owed of $27,000 to a creditor for services already provided.

These financial statements considered subsequent events through May 20, 2013, the date the financial statements were available to be issued.

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CAPITAL STOCK
3 Months Ended

Mar. 31, 2013

Capital Stock [Abstract]

CAPITAL STOCK

NOTE 10 – CAPITAL STOCK

In January 2013, YA Global Investments (formerly known as Cornell Capital Partners, LP) elected to convert debt on two occasions in the amount of $25,536 and $100,000 of their convertible debt into 125,536,000 shares of the Company’s common stock at a price of $0.001 per share.

In January 2013, three unrelated parties elected to convert debt in the amount of $32,000, $20,000, $30,000, $29,000 and $35,000 into 146,000,000 shares of the Company’s common stock at prices ranging from $0.0009 to $0.001 per share.

In January through March 2013, a related party elected to convert debt in the amount of $25,000, $25,000, $25,000 and $25,000 into 100,000,000 shares of the Company’s common stock at a price of $0.001 per share.

In January 2013, an unrelated party elected to convert debt in the amount of $28,000 and $22,100 into 20,000,000 shares of the Company’s common stock at prices ranging from $0.0017 to $0.0020 per share.

In February 2013, an unrelated party was issued 4,000,000 shares of the Company’s stock for $20,800 in debt that was settled during the year ended December 31, 2010 at a price of $0.0063 per share.

In March 2013, YA Global Investments (formerly known as Cornell Capital Partners, LP) elected to convert debt on three occasions in the amount of $100,000, $67,200, and $95,100 of their convertible debt into 219,377,621 shares of the Company’s common stock at prices ranging from $0.0011 to $0.0013 per share.

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FAIR VALUE MEASUREMENTS
3 Months Ended

Mar. 31, 2013

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS
NOTE 8 - FAIR VALUE MEASUREMENTS

For asset and liabilities measured at fair value, the Company uses the following hierarchy of inputs:

· Level one -- Quoted market prices in active markets for identical assets or liabilities;

· Level two -- Inputs other than level one inputs that are either directly or indirectly observable; and

· Level three -- Unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use.

Liabilities measured at fair value on a recurring basis at March 31, 2013, are summarized as follows:

Level 1

Level 2

Level 3

Total

Fair value of derivatives

$

-

$

458,475

$

-

$

458,475

Liabilities measured at fair value on a recurring basis at December 31, 2012, are summarized as follows:

Level 1

Level 2

Level 3

Total

Fair value of derivatives

$

-

$

829,090

$

-

$

829,090

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-Number 159

-Paragraph 17-22, 27, 28

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STOCKHOLDERS' DEFICIT
3 Months Ended

Mar. 31, 2013

Stockholders' Equity Note [Abstract]

STOCKHOLDERS' DEFICIT
NOTE 9 - STOCKHOLDERS’ DEFICIT

The Company’s stockholders’ deficit increased by $105,576 as a result of the net loss attributable to CirTran Corporation for the three months ended March 31, 2013. Noncontrolling interest in consolidated subsidiaries increased stockholders’ deficit by $326,904 for the three months ended March 31, 2013, due to the operating losses of the non-controlling subsidiary.

Loss Per Share - Basic loss per share is calculated by dividing net loss available to common shareholders by the weighted-average number of common shares outstanding during each period. Diluted loss per share is similarly calculated, except that the weighted-average number of common shares outstanding would include common shares that may be issued subject to existing rights with dilutive potential when applicable. The Company had 4,313,029,000 and 4,401,029,000 in potentially issuable common shares at March 31, 2013, and December 31, 2012, respectively. These potentially issuable common shares were excluded from the calculation of diluted loss per share because the effects were antidilutive.

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The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

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STOCK OPTIONS AND WARRANTS
3 Months Ended

Mar. 31, 2013

Equity [Abstract]

STOCK OPTIONS AND WARRANTS

NOTE 11 - STOCK OPTIONS AND WARRANTS

Stock Incentive Plans - As of March 31, 2013, a total of 316,200,000 shares of common stock had been issued from the 2012 Stock Incentive Plan, out of which a maximum of 403,000,000 can be issued. The Company’s Board of Directors administers the plan and has discretion in determining the employees, directors, independent contractors, and advisors who receive awards, the type of awards (stock, incentive stock options, nonqualified stock options, or share purchase rights) granted, and the term, vesting, and exercise prices.

Employee Options - During the three months ended March 31, 2013 and 2012, the Company did not grant options to purchase shares of common stock to employees.

During the three months ended March 31, 2013, the Company did not issue any employee options.

A summary of the stock option activity under the plans as of March 31, 2013, and changes during the three months then ended is presented below:

Weighted-

Weighted-

Average

Aggregate

Average

Remaining

Intrinsic

Shares

Exercise Price

Contractual Life

Value

Outstanding at December 31, 2012

3,600,000

$

0.0123

0.013

$

-

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-

-

Exercised

-

-

Expired

(3,600,000)

0.0123

-

Outstanding at March 31, 2013

-

$

-

-

$

-

Exercisable at March 31, 2013

-

$

-

-

$

-

As of March 31, 2013, and December 31, 2012, the Company had a total of 104,800,000 and 88,000,000 options not issued but accrued, respectively.

Warrants - On January, 24, 2011, as part of the Forbearance Agreement, a warrant to purchase 25,000,000 shares of common stock was issued to YA Global. The warrant had an exercise price of $0.02 per share and vested immediately.

The Company currently has an insufficient number of authorized shares to enable warrant holders to fully exercise their warrants, assuming all warrants holders desired to do so. Accordingly, the warrants are subject to derivative accounting treatment and are included in the derivative liability related to the convertible debentures (see Note 8).

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COMMITMENTS AND CONTINGENCIES (Detail Textuals 2) (Ya global forbearance agreements, USD $)
1 Months Ended 3 Months Ended 6 Months Ended

Mar. 22, 2012

Mar. 31, 2012

Mar. 31, 2013

Sep. 30, 2012

Ya global forbearance agreements

Loss Contingencies [Line Items]

Repayment of debentures per month in March 2012 $ 25,000

Repayment of debentures per month in March through June 2012 25,000

Repayment of debentures per month in July through September 2012 50,000

Repayment of debentures in the months of October and November 2012 75,000

Repayment of debentures per month in the months of December 2012 through May 2013 100,000

Repayment of debentures per month in the months of June through December 2013 125,000

Repayment of debentures per month in the months commencing in April, 2013 100,000

Maximum out-of-pocket expenses in percentages of total net sales 5.00%

Maximum excess cash flow payments 50,000 25,000

Number of trading days prior to payment date 20 days

Litigation amount paid for subsequent months $ 387,836

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FAIR VALUE MEASUREMENTS (Tables)
3 Months Ended

Mar. 31, 2013

Fair Value Disclosures [Abstract]

Schedule of liabilities measured at fair value on a recurring basis
Liabilities measured at fair value on a recurring basis at March 31, 2013, are summarized as follows:

Level 1

Level 2

Level 3

Total

Fair value of derivatives

$

-

$

458,475

$

-

$

458,475

Liabilities measured at fair value on a recurring basis at December 31, 2012, are summarized as follows:

Level 1

Level 2

Level 3

Total

Fair value of derivatives

$

-

$

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$

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$

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RELATED-PARTY TRANSACTIONS (Detail Textuals) (USD $)
3 Months Ended 12 Months Ended

Mar. 31, 2013

Dec. 31, 2007

Fadi Nora

Related Party Transaction [Line Items]

Percentage of gross sales entitled as quarterly bonus 0.50%

Compensation payable to related party $ 64,916

Unsecured advances payable to related party 1,040,829

Accrued liabilities to related party 366,635

Number of options issued 2,400,000

Number of shares purchased to grant options 2,400,000

Accrued options to related party 2,400,000

Fair market value of accrued options $ 4,069

Expected term for options 7 years

Estimated volatility 224.82%

Discount rate 0.00%

Board Of Directors

Related Party Transaction [Line Items]

Percentage of borrowing fee 5.00%

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China

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Capitalized tooling costs $ 81,276

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Dec. 31, 2012

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Mar. 31, 2012

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Cash and cash equivalents at end of period 10,721 24,992

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XML 60 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6

COMMITMENTS AND CONTINGENCIES
3 Months Ended

Mar. 31, 2013

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 5 - COMMITMENTS AND CONTINGENCIES

Litigation and Claims - Various vendors and service providers have notified the Company that they believe they have claims against the Company totaling approximately $2,250,000. The Company has determined the probability of realizing any loss on these claims is remote. The Company has made no accrual for these claims and is currently in the process of negotiating the dismissal of these claims.

Registration Rights Agreements - In connection with the Company’s issuance of convertible debentures to YA Global Investments, L.P., formerly known as Cornell Capital Partners, L.P. (“YA Global”), the Company granted to YA Global certain registration rights, pursuant to which the Company agreed to file a registration statement to register the resale of shares of the Company’s common stock issuable upon conversion of the debentures. The Company agreed to keep the registration statement effective until all of the shares issuable upon conversion of the debenture have been sold. The Company has not accrued a liability for potential losses.

Previously, YA Global has agreed to extensions of the filing deadlines inherent in the terms of the convertible debentures mentioned above. On January 24, 2011, the Company and YA Global entered into a forbearance agreement related to the convertible debentures issued by the Company to YA or its predecessor entities.

YA Global Forbearance Agreements - On September 25, 2010, YA Global filed a lawsuit against the Company asserting claims for breach of contract, breaches of the uniform commercial code, and replevin. YA Global sought a judgment in the amount of $4,193,380, plus interest and attorneys fees, as well as a writ of replevin to compel the Company to turn over equipment and other property that YA Global claims was pledged as collateral to secure obligations owing to YA Global.

On January 24, 2011, the Company entered into a forbearance agreement with YA Global, including a confession of judgment in its favor. On February 23, 2011, the court entered judgment based on the confession of judgment against the Company in the principal amount of $3,161,354, plus interest of $825,858.

On July 22, 2011, YA Global filed a motion in the ABS lawsuit (discussed below) seeking an order clarifying its position with respect to ABS and staying enforcement of that court’s order that the Company pay approximately $35,000 in legal fees to ABS. In its motion, YA Global notified the Company that it intended to conduct a secured party’s public auction of all of the Company’s assets. YA Global also informed the Company that it had defaulted under the January 2011 Forbearance Agreement and declared that all of the Company’s obligations to YA Global were immediately due and owing. Further, YA Global stated that it intended to commence action to collect on the Company’s obligations and instructed it to assemble its assets.

At a hearing held on August 3, 2011, in the ABS reorganization proceeding on YA Global’s motion to stay enforcement, YA Global noted that the date of the proposed secured party’s public auction was August 30, 2011. At the same time, YA Global notified the Company that the proposed sale of assets would be held on August 30, 2011.

At the hearing in the ABS matter, the Bankruptcy Court denied YA Global’s motion to stay the payment of attorneys’ fees by the Company. Subsequently, the parties to the January 2011 settlement with YA Global entered into an agreement whereby YA Global agreed to cancel the proposed asset sale without waiver.

On September 30, 2011, YA Global directed the Company to assemble the collateral in order to enable it to take possession on or before October 6, 2011. Following negotiations with YA Global, the Company confirmed its indebtedness to YA Global and arranged for it to take possession of collateral on October 17, 2011, on which date, all accounts receivable, collections, and other proceeds and products of the collateral would be held in trust by the Company for YA Global and immediately forwarded to it. Before the Company was required to surrender possession of the collateral, it initiated negotiations to obtain YA Global’s forbearance from collection.

On March 22, 2012, the Company entered into a formal forbearance agreement with YA Global, dated as of March 1, 2012 (the “2012 YA Global Forbearance Agreement”), in which it ratified its previous obligations under the debentures and agreed to pay the debentures under the following payment plan: $25,000 at signing the 2012 YA Global Forbearance Agreement, $25,000 per month in March through June 2012, $50,000 per month in July through September 2012, $75,000 in the months of October and November 2012, $100,000 per month in the months of December 2012 through May 2013, $125,000 per month in the months of June through December 2013, and the balance in December 2014 (the “Extended Termination Date”). In addition to the above minimum payments to YA Global, the Company is required to pay monthly excess cash flow, to the extent cumulatively available, consisting of consolidated earnings before interest, taxes, depreciation and amortization, less cash deposits for product orders received but not yet shipped, actual cash taxes paid, actual cash principal and interest paid, and reasonable out-of-pocket cash paid together with reasonable cash reserves in an amount not to exceed 5% of total net sales, provided that such excess cash flow payments shall not to exceed $50,000 in March 2012 and $25,000 per month in April through September 2012.

The Company continues to have the right, subject to the consent of YA Global, to pay all or any portion of the payments listed above in common stock, with the conversion price to be used to determine the number of shares being equal to the lowest closing bid price of the Company’s common stock during the 20 trading days prior to the payment date. The amount applied as a payment on the note and accrued interest will be adjusted to the value of the actual proceeds from the sale of the stock by YA Global, less costs associated with the sale.

YA Global agreed to forbear from enforcing its rights and remedies as a result of the existing defaults and/or converting the debentures into shares of the Company’s common stock, until the earlier of the Company’s default under the 2012 YA Global Forbearance Agreement or the Extended Termination Date.

On February 22, 2013, the Company entered into a Ratification Agreement with YA Global (the “2013 Ratification Agreement”). Under the 2013 Ratification Agreement, the
Company ratified the obligations under three existing Convertible Debentures dated May 26, 2005, December 30, 2005, and August 23, 2006, and agreed to amend, restate, and consolidate the obligations evidenced thereby into a Consolidated Debenture.

The 2013 Ratification Agreement also provides for a new payment schedule under the Consolidated Debenture that replaces the payment schedule that had been agreed to in a March 1, 2012, Forbearance Agreement among the parties. Under the 2013 Ratification Agreement payment schedule, the Company is required to make monthly payments, to be applied first to accrued interest and then to principal, in the amount of $100,000 per month, commencing in April 2013. The amount of the Company’s required monthly cash payment shall be reduced in an amount equal to the amount credited to the lender against the obligation as a result of the lender’s exercise of the right to convert the outstanding balance due under the debentures into common stock, as provided in the original convertible debentures as well as in the Consolidated Debenture. Any amount credited against the debenture obligation in excess of $100,000 per month shall be credited against the amounts due in the next succeeding month.

During the three months ended March 31, 2013, the Company issued common stock valued at $387,836 towards the required payments.

Delinquent Payroll Taxes, Interest, and Penalties - In November 2004, the IRS accepted the Company’s Amended Offer in Compromise (the “Offer”) to settle delinquent payroll taxes, interest, and penalties. The acceptance of the Offer required the Company to pay $500,000. Additionally, the Offer required the Company to remain current in its payment of taxes for five years and not claim any net operating losses for the years 2001 through 2015, or until the Company pays taxes on future profits in an amount equal to the taxes waived by the Offer of $1,455,767. The Company has defaulted on the original agreement and is currently working with the IRS to pay the 2009 tax liabilities.

Disputed Account Payable - The Company is in disagreement with its former legal counsel over charges incurred and the amount due to this provider for billed services, charges and interest expense. The Company is vigorously working with this provider to settle the outstanding balance. Management assesses the likelihood to be remote that it will not be able to settle the balance at or below the currently accrued balance.

Employment Agreements - On August 1, 2009, the Company entered into a new employment agreement with Mr. Hawatmeh, the Company’s President. The term of the employment agreement continues until August 31, 2014, and automatically extends for successive one-year periods, with an annual base salary of $345,000. The employment agreement also grants to Mr. Hawatmeh options to purchase a minimum of 6,000,000 shares of the Company’s stock each year, with the exercise price of the options being the market price of the Company’s common stock as of the grant date. The employment agreement also provides for health insurance coverage, cell phone, car allowance, life insurance, and director and officer liability insurance, as well as any other bonus approved by the Board. The employment agreement includes additional incentive compensation as follows: a quarterly bonus equal to 5% of the Company’s earnings before interest, taxes, depreciation, and amortization for the applicable quarter; bonus(es) equal to 1.0% of the net purchase price of any acquisitions completed by the Company that are directly generated and arranged by Mr. Hawatmeh; and an annual bonus (payable quarterly) equal to 1% of the gross sales, net of returns and allowances, of all beverage products of the Company and its affiliates for the most recent fiscal year. During the three months ended March 31, 2013 and 2012, the Company incurred $10,171 and $5,582, respectively, of non-cash compensation expense related to accrual for employee stock options to be awarded per the employment contract with the president of the Company.

Pursuant to the employment agreement, Mr. Hawatmeh’s employment may be terminated for cause or upon death or disability, in which event, the Company is required to pay Mr. Hawatmeh any unpaid base salary and unpaid earned bonuses. In the event that Mr. Hawatmeh is terminated without cause, the Company is required to pay to Mr. Hawatmeh: (i) within 30 days following such termination, any benefit, incentive, or equity plan, program, or practice (the “Accrued Obligations”) paid when the bonus would have been paid Mr. Hawatmeh if employed; (ii) within 30 days following such termination (or on the earliest later date as may be required by Internal Revenue Code Section 409A to the extent applicable), a lump sum equal to 30 months of annual base salary; (iii) bonus(es) owing under the employment agreement for the two-year period after the date of termination (net of an bonus amounts paid as Accrued Obligations) based on actual results for the applicable quarters and fiscal years; and (iv) within 12 months following such termination (or on the earliest later date as may be required by Internal Revenue Code Section 409A to the extent applicable), a lump sum equal to 30 months of annual base salary; provided that if Mr. Hawatmeh is terminated without cause in contemplation of, or within one year, after a change in control, then two times such annual base salary and bonus payment amounts.

On May 1, 2009, PlayBev, a consolidated variable interest entity, entered into compensation agreements with its managers, Mr. Hawatmeh and Mr. Nora. The agreed compensation consists of a monthly fee of $10,000 for each manager, reimbursement of reasonable expenses on its behalf, and a car allowance for Mr. Nora of $1,000 per month to cover the cost of use, fuel, and repairs. The Company has accrued $1,008,150 in compensation, which is included in related-party payables as of March 31, 2013.

Advanced Beauty Solutions, LLC - In connection with prior litigation with Advanced Beauty Solutions, or ABS, ABS claimed nonperformance by the Company and filed an adversary proceeding in its bankruptcy case proceeding in the United States Bankruptcy Court, Central District of California, San Fernando Valley Division. On March 17, 2009, the Bankruptcy Court entered judgment in favor of ABS and against the Company in the amount of $1,811,667, plus interest. On September 11, 2009, the Bankruptcy Court denied the Company’s motion to set aside the judgment.

On September 8, 2010, the Company executed an Assignment of Copyrights, thereby assigning Copyright Registration No. TX-6-064-955, Copyright Registration No. TX-6-064-956, and Copyright to the True Ceramic Pro - Live Ops (TCPS) infomercial and related master tapes (collectively the “Copyrights”) to ABS, without reservation or exclusion, making ABS the owner of the Copyrights.

On February 23, 2011, the Company filed a Motion to Declare Judgment Fully Satisfied or Alternatively to Recoup Mutual Debts, requesting that the court determine that its assignment of the Copyrights resulted in full satisfaction of the ABS judgment. On March 3, 2011, ABS brought a Motion for Order to Show Cause re Civil Contempt alleging that the Company had failed to make payments on ABS’s judgment in violation of the court’s orders. At the hearing on April 6, 2011, the court denied the motion to declare the judgment fully satisfied and granted ABS’s motion, but did not hold the Company in civil contempt. The court also set a hearing on the ABS Motion for the Order to Show Cause for July 8, 2011, regarding the Company’s compliance with collection orders, which the parties stipulated should be postponed until August 3, 2011. The parties attended mediation on July 11, 2011, but no formal settlement resulted. At the hearing in August, the court found that a basis existed to hold the Company in contempt and set an evidentiary hearing for October 6, 2011, to determine whether to issue a contempt citation. The Company appealed the denial of its motion to declare judgment satisfied.

On March 22, 2012, the Company and ABS entered into a formal forbearance agreement, dated as of March 1, 2012 (the “ABS Forbearance Agreement”), whereby ABS agreed to take no further judgment enforcement actions in consideration of the payment of $25,000 upon execution of the definitive ABS Forbearance Agreement and satisfaction of applicable conditions precedent. The ABS Forbearance Agreement calls for the Company to pay $7,500 per month for 46 consecutive months (except for a payment of $15,000 in December 2012), commencing in March 2012, with the unpaid balance, as finally determined as provided below, due and payable in January 2016. No interest on the principal would accrue unless the note is in default, in which case, it would bear interest at 10% per annum from the date of the ABS Forbearance Agreement. In addition, the Company stipulated to an additional judgment for attorney’s fees incurred in negotiating the ABS Forbearance Agreement and entering into the related definitive agreements and in related post-judgment collection efforts. The obligation to pay $1,835,000 under the ABS Forbearance Agreement would be secured by an encumbrance on all of the Company’s assets, subject to a prior lien and encumbrance in favor of YA Global.

The principal amount of $1,835,000 due under the ABS Forbearance Agreement would be reduced by the greater of the amount of credit granted in the bankruptcy proceedings for the value of the intellectual property the Company previously conveyed to ABS and the amount received by ABS from the sale of such intellectual property to a third party during the term of the ABS Forbearance Agreement, plus the amount of any distribution to which the Company is entitled as a creditor of ABS, provided, however, that in no event would the amount due under the ABS Forbearance Agreement be reduced below $90,000, which is the amount payable during the first 12 months under the ABS Forbearance Agreement. ABS entered into a subordination agreement subordinating the obligation under the ABS Forbearance Agreement in favor of the obligations and first-priority security interest of YA Global. The Company conveyed to ABS the trademarks and intellectual property previously conveyed by ABS to the Company.

The Company’s appeal of the approximately $1.8 million judgment has been remanded in the ABS bankruptcy proceedings to conclusively determine the amount of credit due the Company for the conveyance of the intellectual property. Except for the determination of the fair market value of the intellectual property and any enforcement or collection proceedings that may be required under the ABS Forbearance Agreement, all litigation and disputes between ABS and its affiliates, on the one hand, and the Company and its affiliates, on the other hand, would be dismissed, including the pending order to show cause regarding contempt against the Company, its subsidiaries, and its President.

The Company has assigned to ABS its creditor claim against the estate of ABS, to the extent of the balance due under the ABS Forbearance Agreement. Any distribution from the ABS estate in excess of the adjusted amounts due under the ABS Forbearance Agreement will be paid to the Company. Pending the determination of the amount of the credit due for the value of the intellectual property conveyed, the Company accrued a balance of $90,000 for the minimum required payment under the ABS Forbearance Agreement. It is reasonably possible that this estimate may change in the near future based on the events of the ABS settlement.

The Company entered into a forbearance agreement with ABS on March 1, 2012. As part of that agreement, among other things, the Company agreed to a settlement amount that is to be reduced by any distribution to which the Company was entitled as a creditor of ABS. Under the ABS Forbearance Agreement the minimum amount due ABS is $90,000, which is the amount payable during the first 12 months under the ABS Forbearance Agreement. The Company accrued $90,000 as of December 31, 2011 and made payments of $45,000. The royalty accrual as of March 31, 2013 was $45,000.

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COMMITMENTS AND CONTINGENCIES (Detail Textuals 6) (Litigation with advanced beauty solutions llc, USD $)
1 Months Ended 3 Months Ended

Mar. 22, 2012

Mar. 31, 2013

Dec. 31, 2011

Mar. 17, 2009

Commitments and Contingencies [Line Items]

Amount of bankruptcy judgment in favor of ABS $ 1,811,667

Payment made for execution of agreement 25,000

Payment called per month for 46 consecutive months except December 2012 7,500

Payment called for the month of December 2012 15,000

Obligation to pay under the ABS forbearance agreement 1,835,000

Amount payable during the first 12 months under the ABS Forbearance Agreement 90,000

Accrued balance for minimum required payment 90,000

Portion paid from minimum required payments 45,000

Accrued royalties $ 45,000

Notes payable

Commitments and Contingencies [Line Items]

Interest bearing rate of notes 10.00%

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INVENTORIES (Tables)
3 Months Ended

Mar. 31, 2013

Inventory Disclosure [Abstract]

Schedule of inventories stated at the lower of average cost or market

March 31,

December 31,

2013

2012

Raw Materials

$

1,675,341

$

1,691,500

Work in Process

148,573

221,225

Finished Goods

442,169

442,017

Allowance / Reserve

(2,256,223)

(2,256,399)

Totals

$

9,860

$

98,343

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2013	Dec. 31, 2012
Current assets
Cash and cash equivalents	$ 10,721	$ 7,883
Trade accounts receivable, net of allowance for doubtful accounts of $832,093 and $832,093, respectively	83,285	162,468
Inventory, net of reserve of $2,256,223 and $2,256,399 , respectively	9,860	98,343
Other	81,115	7,866
Total current assets	184,981	276,560
Investment in securities, at cost	300,000	300,000
Long-term receivable, net of allowance of $1,582,895
Property and equipment, net	70,896	86,034
Other assets, net	109,774	224,488
Total assets	665,651	887,082
Current liabilities
Checks written in excess of bank balance	8,925	17,118
Accounts payable	4,629,852	4,681,114
Related-party payable	1,017,368	955,656
Short-term advances payable	3,146,912	3,088,945
Accrued liabilities	2,454,257	2,445,167
Accrued payroll and compensation expense	2,698,604	2,599,533
Accrued interest	2,313,669	2,417,834
Deferred revenue	2,593,750	2,984,119
Derivative liability	458,475	829,090
Convertible debenture	3,007,228	3,132,855
Refundable customer deposits	200,000	200,201
Current maturities of long-term debt	281,585	236,585
Current liabilities to non-controlling interest holders	2,683,134	2,570,000
Note payable to stockholders and members	401,833	576,833
Total current liabilities	25,895,592	26,735,050
Total liabilities	25,895,592	26,735,050
CirTran Corporation stockholders' deficit:
Common stock, par value $0.001; authorized 4,500,000,000 shares; issued and outstanding shares: 3,156,415,910 and 2,541,502,289	3,156,416	2,541,502
Additional paid-in capital	29,887,417	29,451,824
Subscription receivable	(17,000)	(17,000)
Accumulated deficit	(48,620,372)	(48,514,796)
Total CirTran Corporation and subsidiaries stockholders' deficit	(15,593,539)	(16,538,470)
Non-controlling interest	(9,636,402)	(9,309,498)
Total stockholders' deficit	(25,229,941)	(25,847,968)
Total liabilities and stockholders' deficit	$ 665,651	$ 887,082

COMMITMENTS AND CONTINGENCIES (Detail Textuals 3) (Delinquent payroll taxes interest and penalties, USD $)	1 Months Ended
	Nov. 30, 2004
Delinquent payroll taxes interest and penalties
Commitments and Contingencies [Line Items]
Payment for acceptance of Delinquent payroll taxes, interest and penalties offer	$ 500,000
Period of required offer to remain current in payment of taxes	5 years
Amount of taxes waived	$ 1,455,767

COMMITMENTS AND CONTINGENCIES (Detail Textuals 4) (Employment Agreement, Mr. Hawatmeh, USD $)	1 Months Ended	3 Months Ended
	Aug. 31, 2009	Mar. 31, 2013	Mar. 31, 2012
Employment Agreement \| Mr. Hawatmeh
Commitments and Contingencies [Line Items]
Annual base salary	$ 345,000
Minimum number of shares purchased for options granted	6,000,000
Quarterly bonus as stated percentage of earnings before interest, taxes, depreciation and amortization for the applicable quarter	5.00%
Annual bonus percentage of gross sales, net of returns and allowances	1.00%
Non-cash compensation expense related to accrual for employee stock options to be awarded		$ 10,171	$ 5,582
Bonus percentage of net purchase price of acquisitions completed	1.00%

REALIZATION OF ASSETS (Detail Textuals) (USD $)	3 Months Ended
REALIZATION OF ASSETS (Detail Textuals) (USD $)	Mar. 31, 2013	Mar. 31, 2012	Dec. 31, 2012
Realization Of Assets [Abstract]
Net loss	$ (432,480)	$ (1,288,096)
Accumulated deficit	(48,620,372)		(48,514,796)
Net cash used in operating activities	(154,019)	27,342
Working capital	$ (25,710,611)		$ (26,458,490)

REALIZATION OF ASSETS	3 Months Ended
REALIZATION OF ASSETS	Mar. 31, 2013
Realization Of Assets [Abstract]
REALIZATION OF ASSETS	NOTE 2 - REALIZATION OF ASSETS The accompanying condensed consolidated financial statements have been prepared on the assumption that the Company will continue as a going concern. The Company had a net loss of $432,480 and of $1,288,096 for the three months ended March 31, 2013 and 2012, respectively. As of March 31, 2013, the Company had an accumulated deficit of $48,620,372. In addition, the Company used cash in operations in the amount of $154,019 during the three months ended March 31, 2013 and provided cash from operations in the amount of $27,342 during the three months ended March 31, 2012. The Company also had a negative working capital balance of $25,710,611 as of March 31, 2013, and $26,458,490 as of December 31, 2012. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue energy drink distribution, its principal source of revenue, is subject to interruption or termination because of ongoing disputes respecting the status of the Play Beverages, LLC, or PlayBev license to market Playboy-licensed energy drinks. The Company is continuing its suit against Playboy Enterprises, Inc., or Playboy in Illinois in an effort to enjoin Playboy’s termination of the license so the Company will be able to continue its beverage distribution segment. If the Playboy licensing dispute is not resolved satisfactorily through a negotiated settlement or litigation in such proceeding, PlayBev would be required to terminate its beverage distribution activities, which are currently the source of the Company’s principal revenues. Such termination may require the Company to cease its activities and seek protection from creditors. In view of the matters described in the preceding paragraphs, recoverability of a major portion of the recorded asset amounts shown in the accompanying consolidated balance sheets is dependent upon continued operations of the Company, which in turn is dependent upon the Company’s ability to meet its financing requirements on a continuing basis, to maintain or replace present financing, to acquire additional capital from investors, and to succeed in its future operations. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence. The Company believes that its beverage business segment has the potential to have a substantial impact on its overall business. The Company plans to focus on the beverage business and the contract manufacturing business. For the beverage business, the Company plans to sell existing products and develop new products under the license agreement with Playboy to a globally expanding market. With regard to contract manufacturing, the Company’s goal is to provide customers with manufacturing solutions for both new and more mature products, as well as across product generations. The Company provides product marketing services to the direct response and retail markets for both proprietary and nonproprietary products. This segment provides campaign management and marketing services for the beverage distribution, direct response, and retail markets. The Company intends to continue to provide marketing and media services to support its own product efforts and offer to customers marketing service in channels involving television, radio, print media, and the Internet. The Company intends to serve the electronics assembly and manufacturing industries, although it anticipates that its focus will shift more to providing services on a subcontract basis.

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) (USD $)	Mar. 31, 2013	Dec. 31, 2012
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts (in dollars)	$ 832,093	$ 832,093
Inventory reserve (in dollars)	2,256,223	2,256,399
Allowance for long-term receivable (in dollars)	$ 1,582,895	$ 1,582,895
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	4,500,000,000	4,500,000,000
Common stock, shares issued (in shares)	3,156,415,910	2,541,502,289
Common stock, shares outstanding (in shares)	3,156,415,910	2,541,502,289

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2013	May 20, 2013
Document and Entity Information [Abstract]
Entity Registrant Name	CIRTRAN CORP
Entity Central Index Key	0000813716
Trading Symbol	circ
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		3,240,165,910
Document Type	10-Q
Document Period End Date	Mar. 31, 2013
Amendment Flag	false
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (USD $)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Income Statement [Abstract]
Net sales	$ 868,152	$ 618,700
Cost of sales	(234,515)	(238,150)
Royalty Expense	(37,494)	(521,004)
Gross profit	596,143	(140,454)
Operating expenses
Selling, general and administrative expenses	833,452	738,479
Non-cash compensation expense	29,872	19,897
Total operating expenses	863,324	758,376
Loss from operations	(267,181)	(898,830)
Other income (expense)
Interest expense	(209,495)	(255,661)
Gain on settlement of debt	38,352
Gain on derivative valuation	5,844	(133,605)
Total other expense, net	(165,299)	(389,266)
Net loss	(432,480)	(1,288,096)
Net loss attributable to non-controlling interest	326,904	153,970
Net loss attributable to CirTran Corporation and subsidiaries	$ (105,576)	$ (1,134,126)
Basic and diluted loss per common share	$ 0.00	$ 0.00
Basic and diluted weighted-average common shares outstanding (in shares)	2,864,128,141	1,827,524,511

NOTES PAYABLE	3 Months Ended
NOTES PAYABLE	Mar. 31, 2013
Notes Payable [Abstract]
NOTES PAYABLE	NOTE 6 - NOTES PAYABLE In February 2012, the Company issued an 18% interest, 90-day, $30,000 promissory note to an investor. The principal balance included a $5,000 borrowing fee. The promissory note along with accrued interest was converted to 32,000,000 shares of stock in January 2013. There was no outstanding balance as of March 31, 2013.

CAPITAL STOCK	3 Months Ended
CAPITAL STOCK	Mar. 31, 2013
Capital Stock [Abstract]
CAPITAL STOCK	NOTE 10 – CAPITAL STOCK In January 2013, YA Global Investments (formerly known as Cornell Capital Partners, LP) elected to convert debt on two occasions in the amount of $25,536 and $100,000 of their convertible debt into 125,536,000 shares of the Company’s common stock at a price of $0.001 per share. In January 2013, three unrelated parties elected to convert debt in the amount of $32,000, $20,000, $30,000, $29,000 and $35,000 into 146,000,000 shares of the Company’s common stock at prices ranging from $0.0009 to $0.001 per share. In January through March 2013, a related party elected to convert debt in the amount of $25,000, $25,000, $25,000 and $25,000 into 100,000,000 shares of the Company’s common stock at a price of $0.001 per share. In January 2013, an unrelated party elected to convert debt in the amount of $28,000 and $22,100 into 20,000,000 shares of the Company’s common stock at prices ranging from $0.0017 to $0.0020 per share. In February 2013, an unrelated party was issued 4,000,000 shares of the Company’s stock for $20,800 in debt that was settled during the year ended December 31, 2010 at a price of $0.0063 per share. In March 2013, YA Global Investments (formerly known as Cornell Capital Partners, LP) elected to convert debt on three occasions in the amount of $100,000, $67,200, and $95,100 of their convertible debt into 219,377,621 shares of the Company’s common stock at prices ranging from $0.0011 to $0.0013 per share.

COMMITMENTS AND CONTINGENCIES (Detail Textuals 2) (Ya global forbearance agreements, USD $)	1 Months Ended		3 Months Ended	6 Months Ended
	Mar. 22, 2012	Mar. 31, 2012	Mar. 31, 2013	Sep. 30, 2012
Ya global forbearance agreements
Loss Contingencies [Line Items]
Repayment of debentures per month in March 2012	$ 25,000
Repayment of debentures per month in March through June 2012	25,000
Repayment of debentures per month in July through September 2012	50,000
Repayment of debentures in the months of October and November 2012	75,000
Repayment of debentures per month in the months of December 2012 through May 2013	100,000
Repayment of debentures per month in the months of June through December 2013	125,000
Repayment of debentures per month in the months commencing in April, 2013	100,000
Maximum out-of-pocket expenses in percentages of total net sales	5.00%
Maximum excess cash flow payments		50,000		25,000
Number of trading days prior to payment date			20 days
Litigation amount paid for subsequent months			$ 387,836

RELATED-PARTY TRANSACTIONS (Detail Textuals) (USD $)	3 Months Ended	12 Months Ended
RELATED-PARTY TRANSACTIONS (Detail Textuals) (USD $)	Mar. 31, 2013	Dec. 31, 2007
Fadi Nora
Related Party Transaction [Line Items]
Percentage of gross sales entitled as quarterly bonus		0.50%
Compensation payable to related party	$ 64,916
Unsecured advances payable to related party	1,040,829
Accrued liabilities to related party	366,635
Number of options issued	2,400,000
Number of shares purchased to grant options	2,400,000
Accrued options to related party	2,400,000
Fair market value of accrued options	$ 4,069
Expected term for options	7 years
Estimated volatility	224.82%
Discount rate	0.00%
Board Of Directors
Related Party Transaction [Line Items]
Percentage of borrowing fee	5.00%

GEOGRAPHIC INFORMATION (Detail Textuals) (China, USD $)	3 Months Ended
GEOGRAPHIC INFORMATION (Detail Textuals) (China, USD $)	Mar. 31, 2013
China
Revenues from External Customers and Long-Lived Assets [Line Items]
Capitalized tooling costs	$ 81,276

FAIR VALUE MEASUREMENTS (Details) (USD $)	Mar. 31, 2013	Dec. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of derivatives	$ 458,475	$ 829,090
Level 1 \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of derivatives
Level 2 \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of derivatives	458,475	829,090
Level 3 \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of derivatives
Total \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of derivatives	$ 458,475	$ 829,090

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 31, 2013
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 5 - COMMITMENTS AND CONTINGENCIES *Litigation and Claims* - Various vendors and service providers have notified the Company that they believe they have claims against the Company totaling approximately $2,250,000. The Company has determined the probability of realizing any loss on these claims is remote. The Company has made no accrual for these claims and is currently in the process of negotiating the dismissal of these claims. *Registration Rights Agreements* - In connection with the Company’s issuance of convertible debentures to YA Global Investments, L.P., formerly known as Cornell Capital Partners, L.P. (“YA Global”), the Company granted to YA Global certain registration rights, pursuant to which the Company agreed to file a registration statement to register the resale of shares of the Company’s common stock issuable upon conversion of the debentures. The Company agreed to keep the registration statement effective until all of the shares issuable upon conversion of the debenture have been sold. The Company has not accrued a liability for potential losses. Previously, YA Global has agreed to extensions of the filing deadlines inherent in the terms of the convertible debentures mentioned above. On January 24, 2011, the Company and YA Global entered into a forbearance agreement related to the convertible debentures issued by the Company to YA or its predecessor entities. *YA Global Forbearance Agreements* - On September 25, 2010, YA Global filed a lawsuit against the Company asserting claims for breach of contract, breaches of the uniform commercial code, and replevin. YA Global sought a judgment in the amount of $4,193,380, plus interest and attorneys fees, as well as a writ of replevin to compel the Company to turn over equipment and other property that YA Global claims was pledged as collateral to secure obligations owing to YA Global. On January 24, 2011, the Company entered into a forbearance agreement with YA Global, including a confession of judgment in its favor. On February 23, 2011, the court entered judgment based on the confession of judgment against the Company in the principal amount of $3,161,354, plus interest of $825,858. On July 22, 2011, YA Global filed a motion in the ABS lawsuit (discussed below) seeking an order clarifying its position with respect to ABS and staying enforcement of that court’s order that the Company pay approximately $35,000 in legal fees to ABS. In its motion, YA Global notified the Company that it intended to conduct a secured party’s public auction of all of the Company’s assets. YA Global also informed the Company that it had defaulted under the January 2011 Forbearance Agreement and declared that all of the Company’s obligations to YA Global were immediately due and owing. Further, YA Global stated that it intended to commence action to collect on the Company’s obligations and instructed it to assemble its assets. At a hearing held on August 3, 2011, in the ABS reorganization proceeding on YA Global’s motion to stay enforcement, YA Global noted that the date of the proposed secured party’s public auction was August 30, 2011. At the same time, YA Global notified the Company that the proposed sale of assets would be held on August 30, 2011. At the hearing in the ABS matter, the Bankruptcy Court denied YA Global’s motion to stay the payment of attorneys’ fees by the Company. Subsequently, the parties to the January 2011 settlement with YA Global entered into an agreement whereby YA Global agreed to cancel the proposed asset sale without waiver. On September 30, 2011, YA Global directed the Company to assemble the collateral in order to enable it to take possession on or before October 6, 2011. Following negotiations with YA Global, the Company confirmed its indebtedness to YA Global and arranged for it to take possession of collateral on October 17, 2011, on which date, all accounts receivable, collections, and other proceeds and products of the collateral would be held in trust by the Company for YA Global and immediately forwarded to it. Before the Company was required to surrender possession of the collateral, it initiated negotiations to obtain YA Global’s forbearance from collection. On March 22, 2012, the Company entered into a formal forbearance agreement with YA Global, dated as of March 1, 2012 (the “2012 YA Global Forbearance Agreement”), in which it ratified its previous obligations under the debentures and agreed to pay the debentures under the following payment plan: $25,000 at signing the 2012 YA Global Forbearance Agreement, $25,000 per month in March through June 2012, $50,000 per month in July through September 2012, $75,000 in the months of October and November 2012, $100,000 per month in the months of December 2012 through May 2013, $125,000 per month in the months of June through December 2013, and the balance in December 2014 (the “Extended Termination Date”). In addition to the above minimum payments to YA Global, the Company is required to pay monthly excess cash flow, to the extent cumulatively available, consisting of consolidated earnings before interest, taxes, depreciation and amortization, less cash deposits for product orders received but not yet shipped, actual cash taxes paid, actual cash principal and interest paid, and reasonable out-of-pocket cash paid together with reasonable cash reserves in an amount not to exceed 5% of total net sales, provided that such excess cash flow payments shall not to exceed $50,000 in March 2012 and $25,000 per month in April through September 2012. The Company continues to have the right, subject to the consent of YA Global, to pay all or any portion of the payments listed above in common stock, with the conversion price to be used to determine the number of shares being equal to the lowest closing bid price of the Company’s common stock during the 20 trading days prior to the payment date. The amount applied as a payment on the note and accrued interest will be adjusted to the value of the actual proceeds from the sale of the stock by YA Global, less costs associated with the sale. YA Global agreed to forbear from enforcing its rights and remedies as a result of the existing defaults and/or converting the debentures into shares of the Company’s common stock, until the earlier of the Company’s default under the 2012 YA Global Forbearance Agreement or the Extended Termination Date. On February 22, 2013, the Company entered into a Ratification Agreement with YA Global (the “2013 Ratification Agreement”). Under the 2013 Ratification Agreement, the Company ratified the obligations under three existing Convertible Debentures dated May 26, 2005, December 30, 2005, and August 23, 2006, and agreed to amend, restate, and consolidate the obligations evidenced thereby into a Consolidated Debenture. The 2013 Ratification Agreement also provides for a new payment schedule under the Consolidated Debenture that replaces the payment schedule that had been agreed to in a March 1, 2012, Forbearance Agreement among the parties. Under the 2013 Ratification Agreement payment schedule, the Company is required to make monthly payments, to be applied first to accrued interest and then to principal, in the amount of $100,000 per month, commencing in April 2013. The amount of the Company’s required monthly cash payment shall be reduced in an amount equal to the amount credited to the lender against the obligation as a result of the lender’s exercise of the right to convert the outstanding balance due under the debentures into common stock, as provided in the original convertible debentures as well as in the Consolidated Debenture. Any amount credited against the debenture obligation in excess of $100,000 per month shall be credited against the amounts due in the next succeeding month. During the three months ended March 31, 2013, the Company issued common stock valued at $387,836 towards the required payments. *Delinquent Payroll Taxes, Interest, and Penalties -* In November 2004, the IRS accepted the Company’s Amended Offer in Compromise (the “Offer”) to settle delinquent payroll taxes, interest, and penalties. The acceptance of the Offer required the Company to pay $500,000. Additionally, the Offer required the Company to remain current in its payment of taxes for five years and not claim any net operating losses for the years 2001 through 2015, or until the Company pays taxes on future profits in an amount equal to the taxes waived by the Offer of $1,455,767. The Company has defaulted on the original agreement and is currently working with the IRS to pay the 2009 tax liabilities. *Disputed Account Payable -* The Company is in disagreement with its former legal counsel over charges incurred and the amount due to this provider for billed services, charges and interest expense. The Company is vigorously working with this provider to settle the outstanding balance. Management assesses the likelihood to be remote that it will not be able to settle the balance at or below the currently accrued balance. *Employment Agreements* - On August 1, 2009, the Company entered into a new employment agreement with Mr. Hawatmeh, the Company’s President. The term of the employment agreement continues until August 31, 2014, and automatically extends for successive one-year periods, with an annual base salary of $345,000. The employment agreement also grants to Mr. Hawatmeh options to purchase a minimum of 6,000,000 shares of the Company’s stock each year, with the exercise price of the options being the market price of the Company’s common stock as of the grant date. The employment agreement also provides for health insurance coverage, cell phone, car allowance, life insurance, and director and officer liability insurance, as well as any other bonus approved by the Board. The employment agreement includes additional incentive compensation as follows: a quarterly bonus equal to 5% of the Company’s earnings before interest, taxes, depreciation, and amortization for the applicable quarter; bonus(es) equal to 1.0% of the net purchase price of any acquisitions completed by the Company that are directly generated and arranged by Mr. Hawatmeh; and an annual bonus (payable quarterly) equal to 1% of the gross sales, net of returns and allowances, of all beverage products of the Company and its affiliates for the most recent fiscal year. During the three months ended March 31, 2013 and 2012, the Company incurred $10,171 and $5,582, respectively, of non-cash compensation expense related to accrual for employee stock options to be awarded per the employment contract with the president of the Company. Pursuant to the employment agreement, Mr. Hawatmeh’s employment may be terminated for cause or upon death or disability, in which event, the Company is required to pay Mr. Hawatmeh any unpaid base salary and unpaid earned bonuses. In the event that Mr. Hawatmeh is terminated without cause, the Company is required to pay to Mr. Hawatmeh: (i) within 30 days following such termination, any benefit, incentive, or equity plan, program, or practice (the “Accrued Obligations”) paid when the bonus would have been paid Mr. Hawatmeh if employed; (ii) within 30 days following such termination (or on the earliest later date as may be required by Internal Revenue Code Section 409A to the extent applicable), a lump sum equal to 30 months of annual base salary; (iii) bonus(es) owing under the employment agreement for the two-year period after the date of termination (net of an bonus amounts paid as Accrued Obligations) based on actual results for the applicable quarters and fiscal years; and (iv) within 12 months following such termination (or on the earliest later date as may be required by Internal Revenue Code Section 409A to the extent applicable), a lump sum equal to 30 months of annual base salary; provided that if Mr. Hawatmeh is terminated without cause in contemplation of, or within one year, after a change in control, then two times such annual base salary and bonus payment amounts. On May 1, 2009, PlayBev, a consolidated variable interest entity, entered into compensation agreements with its managers, Mr. Hawatmeh and Mr. Nora. The agreed compensation consists of a monthly fee of $10,000 for each manager, reimbursement of reasonable expenses on its behalf, and a car allowance for Mr. Nora of $1,000 per month to cover the cost of use, fuel, and repairs. The Company has accrued $1,008,150 in compensation, which is included in related-party payables as of March 31, 2013. *Advanced Beauty Solutions, LLC -* In connection with prior litigation with Advanced Beauty Solutions, or ABS, ABS claimed nonperformance by the Company and filed an adversary proceeding in its bankruptcy case proceeding in the United States Bankruptcy Court, Central District of California, San Fernando Valley Division. On March 17, 2009, the Bankruptcy Court entered judgment in favor of ABS and against the Company in the amount of $1,811,667, plus interest. On September 11, 2009, the Bankruptcy Court denied the Company’s motion to set aside the judgment. On September 8, 2010, the Company executed an Assignment of Copyrights, thereby assigning Copyright Registration No. TX-6-064-955, Copyright Registration No. TX-6-064-956, and Copyright to the True Ceramic Pro - Live Ops (TCPS) infomercial and related master tapes (collectively the “Copyrights”) to ABS, without reservation or exclusion, making ABS the owner of the Copyrights. On February 23, 2011, the Company filed a Motion to Declare Judgment Fully Satisfied or Alternatively to Recoup Mutual Debts, requesting that the court determine that its assignment of the Copyrights resulted in full satisfaction of the ABS judgment. On March 3, 2011, ABS brought a Motion for Order to Show Cause re Civil Contempt alleging that the Company had failed to make payments on ABS’s judgment in violation of the court’s orders. At the hearing on April 6, 2011, the court denied the motion to declare the judgment fully satisfied and granted ABS’s motion, but did not hold the Company in civil contempt. The court also set a hearing on the ABS Motion for the Order to Show Cause for July 8, 2011, regarding the Company’s compliance with collection orders, which the parties stipulated should be postponed until August 3, 2011. The parties attended mediation on July 11, 2011, but no formal settlement resulted. At the hearing in August, the court found that a basis existed to hold the Company in contempt and set an evidentiary hearing for October 6, 2011, to determine whether to issue a contempt citation. The Company appealed the denial of its motion to declare judgment satisfied. On March 22, 2012, the Company and ABS entered into a formal forbearance agreement, dated as of March 1, 2012 (the “ABS Forbearance Agreement”), whereby ABS agreed to take no further judgment enforcement actions in consideration of the payment of $25,000 upon execution of the definitive ABS Forbearance Agreement and satisfaction of applicable conditions precedent. The ABS Forbearance Agreement calls for the Company to pay $7,500 per month for 46 consecutive months (except for a payment of $15,000 in December 2012), commencing in March 2012, with the unpaid balance, as finally determined as provided below, due and payable in January 2016. No interest on the principal would accrue unless the note is in default, in which case, it would bear interest at 10% per annum from the date of the ABS Forbearance Agreement. In addition, the Company stipulated to an additional judgment for attorney’s fees incurred in negotiating the ABS Forbearance Agreement and entering into the related definitive agreements and in related post-judgment collection efforts. The obligation to pay $1,835,000 under the ABS Forbearance Agreement would be secured by an encumbrance on all of the Company’s assets, subject to a prior lien and encumbrance in favor of YA Global. The principal amount of $1,835,000 due under the ABS Forbearance Agreement would be reduced by the greater of the amount of credit granted in the bankruptcy proceedings for the value of the intellectual property the Company previously conveyed to ABS and the amount received by ABS from the sale of such intellectual property to a third party during the term of the ABS Forbearance Agreement, plus the amount of any distribution to which the Company is entitled as a creditor of ABS, provided, however, that in no event would the amount due under the ABS Forbearance Agreement be reduced below $90,000, which is the amount payable during the first 12 months under the ABS Forbearance Agreement. ABS entered into a subordination agreement subordinating the obligation under the ABS Forbearance Agreement in favor of the obligations and first-priority security interest of YA Global. The Company conveyed to ABS the trademarks and intellectual property previously conveyed by ABS to the Company. The Company’s appeal of the approximately $1.8 million judgment has been remanded in the ABS bankruptcy proceedings to conclusively determine the amount of credit due the Company for the conveyance of the intellectual property. Except for the determination of the fair market value of the intellectual property and any enforcement or collection proceedings that may be required under the ABS Forbearance Agreement, all litigation and disputes between ABS and its affiliates, on the one hand, and the Company and its affiliates, on the other hand, would be dismissed, including the pending order to show cause regarding contempt against the Company, its subsidiaries, and its President. The Company has assigned to ABS its creditor claim against the estate of ABS, to the extent of the balance due under the ABS Forbearance Agreement. Any distribution from the ABS estate in excess of the adjusted amounts due under the ABS Forbearance Agreement will be paid to the Company. Pending the determination of the amount of the credit due for the value of the intellectual property conveyed, the Company accrued a balance of $90,000 for the minimum required payment under the ABS Forbearance Agreement. It is reasonably possible that this estimate may change in the near future based on the events of the ABS settlement. The Company entered into a forbearance agreement with ABS on March 1, 2012. As part of that agreement, among other things, the Company agreed to a settlement amount that is to be reduced by any distribution to which the Company was entitled as a creditor of ABS. Under the ABS Forbearance Agreement the minimum amount due ABS is $90,000, which is the amount payable during the first 12 months under the ABS Forbearance Agreement. The Company accrued $90,000 as of December 31, 2011 and made payments of $45,000. The royalty accrual as of March 31, 2013 was $45,000.

COMMITMENTS AND CONTINGENCIES (Detail Textuals 6) (Litigation with advanced beauty solutions llc, USD $)	1 Months Ended	3 Months Ended
	Mar. 22, 2012	Mar. 31, 2013	Dec. 31, 2011	Mar. 17, 2009
Commitments and Contingencies [Line Items]
Amount of bankruptcy judgment in favor of ABS				$ 1,811,667
Payment made for execution of agreement	25,000
Payment called per month for 46 consecutive months except December 2012	7,500
Payment called for the month of December 2012	15,000
Obligation to pay under the ABS forbearance agreement	1,835,000
Amount payable during the first 12 months under the ABS Forbearance Agreement		90,000
Accrued balance for minimum required payment			90,000
Portion paid from minimum required payments		45,000
Accrued royalties		$ 45,000
Notes payable
Commitments and Contingencies [Line Items]
Interest bearing rate of notes	10.00%