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CIRX Cirtran

From 2007 until October 2016, we manufactured, marketed, and distributed internationally an energy drink under a license with Playboy through our subsidiary, CirTran Beverage Corporation (“CirTran Beverage”). CirTran Beverage conducted its activities under an agreement with Play Beverages, LLC (“PlayBev”), which held the Playboy license. During this time, PlayBev was considered a variable interest entity. On October 21, 2016, we deconsolidated PlayBev from our consolidated financial statements.

Company profile

Ticker
CIRX
Exchange
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
VERMILLION VENTURES INC
SEC CIK
IRS number
680121636

Calendar

6 Jun 21
29 Jul 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 13
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Cirtran earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 29.78K 29.78K 29.78K 29.78K 29.78K 29.78K
Cash burn (monthly) 26.12K (positive/no burn) (positive/no burn) (positive/no burn) 20.58K (positive/no burn)
Cash used (since last report) 103.46K n/a n/a n/a 81.51K n/a
Cash remaining -73.68K n/a n/a n/a -51.73K n/a
Runway (months of cash) -2.8 n/a n/a n/a -2.5 n/a

Beta Read what these cash burn values mean

Financial report summary

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Management Discussion
  • We had revenues of $1,732,625 and $0 during the years ended December 31, 2020 and 2019, respectively. Revenues during the year ended December 31, 2020, were derived from the design, manufacture, and delivery of certain licensed products in accordance with our GloBrands-HUSTLER® distribution agreement entered into in late 2019.
  • During the year ended December 31, 2020, selling, general, and administrative expenses and employee costs were approximately $758,000, as compared to approximately $407,000 for the same period in 2019, an increase of 86%, as a result of increased operations from executing our business plan.
  • Other income and expenses during the year ended December 31, 2020, consisted of interest expense of approximately $658,000, a loss of disposal of equipment of approximately $10,000, losses of the fair value of derivative liabilities of approximately $23,000, gains on the write-off of accounts payable of approximately $1.0 million, and other income of $42,000. Other expenses during the year ended December 31, 2019, consisted of approximately $593,000 of interest expense and a loss on derivation valuation of approximately $81,000, offset by other income and a gain on settlement of debt totaling approximately $1,000.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
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Readability
H.S. freshman Avg
New words: ad, commencement, fixed, implicit, incremental, led, minimal, ranging, renewal, ROU, settlement
Removed: adjusted, aggregate, book, disposed, effected, enabled, exploring, media, Network, Online, Racore, receive, relating, resulting, retroactive, retroactively, reverse, split