U.S. SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  20549

                           FORM 10-QSB

     [ X ]     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

     For the quarterly period ended June 30, 2001

     [   ]     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

     For the transition period from     to

                 Commission File No. 33-13674-LA

                       CIRTRAN CORPORATION
     (Exact name of small business issuer as specified in its
                            charter)

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

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

                         (801) 963-5112
                   (Issuer's telephone number)

                         Not Applicable
  (Former name, address and fiscal year, if changed since last
                             report)

Check whether the issuer (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Exchange Act during the
preceding 12 months (or for such shorter period that the issuer
was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days. Yes [X] No [  ]

State the number of shares outstanding of each of the issuer's
classes of common equity:  As of June 30, 2001 there were
10,420,067 shares of common stock outstanding.

Transitional Small Business Format:  Yes [   ]  No [ X ]

<PAGE>

                        TABLE OF CONTENTS

                                                            Page
PART I - FINANCIAL INFORMATION

Item 1    Condensed Consolidated Financial Statements

          Balance  Sheets as of  June  30,  2001
          (unaudited) and December 31, 2000                  3

          Statements of Operations for the Three
          Months  and Six Months Ended June  30,
          2001 (unaudited) and 2000 (unaudited)              4

          Statements of Cash Flows for  the  Six
          Months ended
          June  30,  2001 (unaudited)  and  2000
          (unaudited)                                        5

          Notes    to   Condensed   Consolidated
          Financial Statements (unaudited)                   6

Item 2    Managements Discussion and Analysis of
          Financial Condition and  Results of
          Operation                                          8

PART II - OTHER INFORMATION

Item 6    Exhibits and Reports on Form 8-K                   9

Signatures                                                   9

                                2
<PAGE>

                 Part I.  Financial Information
               CirTran Corporation and Subsidiary

                   CONSOLIDATED BALANCE SHEETS

                             ASSETS

                                                 June 30,   December31,
                                                 2001          2000
                                                (Unaudited)
CURRENT ASSETS
Cash and cash equivalents                        $      378   $    11,068
Trade accounts receivable, net of allowance
for doubtful                                        503,909       883,825
accounts of $101,875 in 2001 and $72,774 in 2000
Inventories                                       2,019,072     2,056,686
Other                                               102,636        94,176
Total current assets                              2,625,995     3,045,755

PROPERTY AND EQUIPMENT, NET                       1,638,855     1,871,076

OTHER ASSETS, NET                                    45,057        46,072
                                                $ 4,309,907  $  4,962,903

              LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES
Current maturities of long-term obligations    $ 3,414,090   $ 3,414,090
Current maturities of capital lease                 39,274        39,274
obligations
Checks written in excess of cash in bank            73,407         5,491
Deferred revenue                                    37,052             -
Accounts payable                                 1,358,836     1,166,057
Accrued liabilities                              2,013,353     1,711,991
Notes payable to stockholders                    1,020,966     1,020,966

Total current liabilities                        7,955,978     7,357,869

LONG-TERM OBLIGATIONS, less current maturities     423,041       529,964

CAPITAL LEASE OBLIGATIONS, less current             12,257        14,257
maturities

COMMITMENTS                                              -             -

STOCKHOLDERS' DEFICIT
Common stock, $0.001 par value;  Authorized
500,000,000 shares; issued and outstanding;         10,420        10,420
10,420,067 in 2001 and 2000
Additional paid-in capital                       5,810,035     5,810,035
Accumulated deficit                             (9,901,824)   (8,759,642)
Total stockholders' deficit                     (4,081,369)   (2,939,187)

                                               $ 4,309,907   $ 4,962,903

The accompanying notes are an integral part of these statements.

                                3
<PAGE>
               CirTran Corporation and Subsidiary

              CONSOLIDATED STATEMENTS OF OPERATIONS
                           (UNAUDITED)
<TABLE>
<CAPTION>
                                    Three months ended      Six months ended
                                         March 31,               June 30,
                                   2001          2000       2001          2000
<S>                           <C>          <C>         <C>          <C>
Net sales                     $   650,485  $   728,537 $ 1,070,965  $   2,680,038

Cost of sales                     460,401    1,749,105     824,176      2,511,279

Gross profit (loss)               190,084   (1,020,568)    246,789        168,759

Selling, general and
 administrative expenses          645,153      583,409   1,273,249      1,439,057
Plant closure expenses             15,250            -      15,250              -

Loss from operations             (470,319)  (1,603,977) (1,041,710)    (1,270,298)

Other income (expense)
Interest expense                 (110,054)      (2,247)    (229,572)     (308,317)

Other income                            -       32,433      129,100        67,660
                                 (110,054)      30,186     (100,472)     (240,657)

Loss before income taxes         (580,373)  (1,573,791)  (1,142,182)   (1,510,955)
Income tax expense                      -            -            -             -

NET LOSS                      $  (580,373) $(1,573,791) $(1,142,182) $ (1,510,955)

Net loss per common
share - basic                 $     (0.06) $     (0.18) $     (0.11) $      (0.17)

Net loss per common
share - diluted               $     (0.06) $     (0.18) $     (0.11) $      (0.17)

Weighted-average common
and diluted common
equivalent shares outstanding

Basic                          10,420,067    8,807,511   10,420,067     9,150,489
Diluted                        10,420,067    8,807,511   10,420,067     9,150,489
</TABLE>
The accompanying notes are an integral part of these statements.
                                4
<PAGE>

               CirTran Corporation and Subsidiary

         UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
                           (UNAUDITED)
                For the Six Months ended June 30,
<TABLE>
<CAPTION>

                                                        2001            2000
<S>                                               <C>             <C>
Increase (decrease) in cash and cash equivalents
Cash flows from operating activities
Net loss                                          $ (1,142,182)   $  (1,510,955)
Adjustments to reconcile net loss to net
cash used in operating activities
 Depreciation and amortization                         234,065          336,999
 Provision for loss on trade receivables                29,101          (50,520)
 Reserve for inventory obsolescence                          -           78,000
 Changes in assets and liabilities
  Trade accounts receivable                            350,815           51,184
  Inventories                                           37,614         (267,528)
  Other assets                                          (7,444)               -
  Deferred revenue                                      37,052                -
  Accounts payable                                     192,778           74,090
  Accrued liabilities                                  297,362          377,557
    Total adjustments                                1,171,343          599,782
    Net cash provided by (used in) operating
     activities                                         29,161         (911,173)
Cash flows from investing activities
 Purchase of property and equipment                     (1,844)          (7,553)
 Acquisition costs                                           -           (5,693)
    Net cash used in investing activities               (1,844)         (13,246)
Cash flows from financing activities
 Decrease in receivable from stockholders                    -           30,000
 Increase (decrease) in checks written in excess
  of cash in bank                                       67,916           (8,844)
 Net change in line of credit                                -           27,820
 Principal payments on long-term obligations          (103,923)        (194,902)
 Principal payments on capital leases                   (2,000)          (1,555)
 Purchase of outstanding stock                               -          (80,000)
 Issuance of common stock                                    -        1,151,600

    Net cash (used in) provided by financing
     activities                                        (38,007)         924,119

   Net decrease in cash and cash equivalents           (10,690)            (300)

Cash and cash equivalents at beginning of period        11,068              500

Cash and cash equivalents at end of period         $       378    $         200

Supplemental disclosure of cash flow
 information

Cash paid during the period for
Interest                                          $     35,572    $     308,317
</TABLE>

The accompanying notes are an integral part of these statements.
                                5
<PAGE>

               CirTran Corporation and Subsidiary

           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                           (UNAUDITED)
                     June 30, 2001 and 2000


NOTE A - BASIS OF PRESENTATION

   The  accompanying unaudited consolidated financial  statements
   of  CirTran Corporation and Subsidiary (the Company) have been
   prepared  in  accordance  with generally  accepted  accounting
   principles  for  interim financial information  and  with  the
   instructions  to  Form  10-QSB. Accordingly,  these  financial
   statements do not include all of the information and  footnote
   disclosures   required  by  accounting  principles   generally
   accepted   in  the  United  States  of  America  for  complete
   financial   statements.    These  financial   statements   and
   footnote  disclosures should be read in conjunction  with  the
   audited  consolidated financial statements and  notes  thereto
   for  the  year  ended December 31, 2000.  In  the  opinion  of
   management, the accompanying unaudited consolidated  financial
   statements contain all adjustments (consisting of only  normal
   recurring   adjustments)  necessary  to  fairly  present   the
   Company's  consolidated  financial position  as  of  June  30,
   2001,  its  consolidated results of operations and cash  flows
   for  the six months ended June 30, 2001 and 2000.  The results
   of  operations for the three months and six months ended  June
   30,  2001 and 2000, may not be indicative of the results  that
   may be expected for the year ending December 31, 2001.

NOTE B - INVENTORIES

   Inventories consist of the following:

                                            June 30,   December 31,
                                              2001      2000
     Raw materials                       $ 1,776,570 $ 1,791,520
     Work-in process                         187,906     169,676
     Finished goods                          456,904     497,798
                                           2,421,380   2,458,994
     Less reserve for obsolescence           402,308     402,308
                                         $ 2,019,072 $ 2,056,686

                                6
<PAGE>

               CirTran Corporation and Subsidiary

           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                           (UNAUDITED)
                     June 30, 2001 and 2000


NOTE C - MERGER AGREEMENT

   Effective  July  1,  2000,  all  of  the  assets  and  certain
   liabilities  of Circuit Technology Corporation (Circuit)  were
   acquired  by  CTI  Systems,  Inc.  (CTISI),  a  wholly   owned
   subsidiary   of  Vermillion  Ventures,  Inc.  (VVI).   Circuit
   received  10,000,000  shares  of  VVI  common  stock  in   the
   transaction  of which 800,000 shares were paid by  Circuit  to
   Cogent  Capital  Corp. for services performed in  facilitating
   the  transaction.   CTISI subsequently  changed  its  name  to
   CirTran Corporation.

   The  merger  was  accounted for as a  reverse  acquisition  of
   CirTran  Corporation by Circuit.  Although CirTran Corporation
   will  be  the surviving legal entity, for accounting  purposes
   Circuit  was treated as the continuing entity.  The equity  at
   June  30,  2000  was adjusted to give affect to  this  reverse
   acquisition.


NOTE D - LITIGATION

   Circuit  is  a defendant in an alleged breach of a  facilities
   sublease agreement in Colorado.  A lawsuit was filed in  which
   the  plaintiff  seeks to recover past due rent,  future  rent,
   and  other  lease  charges.  The range of  potential  loss  is
   estimated  at  between $0 and $2,500,000.  The wide  range  is
   due  to  two  rent calculation methods written in  the  master
   lease.   Under one calculation, the amount would  be  minimal.
   Under  the  other calculation, the amount would represent  all
   future  rent  (reduced by rent received from future  tenants).
   Currently,  a  new tenant on a short-term lease  occupies  the
   premises.  This new tenant's lease includes rent at two  times
   the  monthly  rate of the original lease under  suit.  Circuit
   has  also filed a countersuit against the landlord for missing
   equipment.   The  amount  of  the  countersuit  claim  exceeds
   $500,000.

   Circuit  is  also  the  defendant in  numerous  legal  actions
   primarily  resulting from nonpayment of vendors for goods  and
   services  received.  Circuit has accrued the payables  and  is
   currently  in  the  process  of negotiating  settlements  with
   these vendors.

                                7
<PAGE>



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

Overview

     CirTran Corporation provides a mixture of high and medium
size volume turnkey manufacturing services using surface mount
technology (SMT), ball-grid array (BGA) assembly, pin-through-
hole (PTH) and custom injection molded cabling for leading
electronics OEMs in the communications, networking, peripherals,
gaming, consumer products, telecommunications, automotive,
medical, and semiconductor industries.  CirTran provides a wide
variety of pre-manufacturing, manufacturing and post-
manufacturing services.  Through its subsidiary, Racore
Technology Corporation, CirTran designs, manufactures, and
markets high performance Local Area Network products with
emphasis on Fiber Optics and 10/100 Ethernet technologies.  Our
goal is to offer customers the significant competitive advantages
that can be obtained from manufacture outsourcing, such as access
to advanced manufacturing technologies, shortened product time-to-
market, reduced cost of production, more effective asset
utilization, improved inventory management, and increased
purchasing power.

Results of Operations

     Net Sales decreased 60.0% to $1,070,965 for the six months
ended June 30, 2001 as compared to $2,680,038 for the same period
in 2000.  The decrease is due to a shift in our marketing effort
to focus on small and mid-sized customers that place orders of
100 to 5,000 pieces, which produce a higher gross profit, rather
than large volume sales with low gross profit.  Cost of sales for
the six-month period ended June 30, 2001, was $824,176, a 67.2%
decrease as compared to $2,511,279 incurred during the comparable
six-month period for the prior year.  Such costs as a percentage
of revenue were 77.0% during 2001 as compared to 93.7% during
2000.  This redirection of Cirtran's marketing effort resulted in
a gross profit of $246,789 for the six months ended June 30,
2001, as compared to a gross profit of $168,759 for the six
months ended June 30, 2000.

     CirTran uses just-in-time manufacturing, which is a
production technique that minimizes work-in-process inventory and
manufacturing cycle time while enabling the Company to deliver
products to customers in the quantities and time frame required.
This manufacturing technique requires Cirtran to maintain an
inventory of component parts to meet customer orders.  Inventory
at June 30, 2001, was $2,019,072 as compared to $2,056,686 at
December 31, 2000.  Management believes the amount of its
inventory that may be considered obsolete or slow moving is
properly reserved and that Cirtran will be able to maintain a
gross profit of at least 20% of net sales through the remainder
of 2001 based on current prices for assembled circuit boards and
the cost of inventory.

     During the six-month period ended June 30, 2001, selling,
general and administrative expenses were $1,273,249, versus
$1,439,057 for the comparable period in 2000, an 11.5% decrease.
The decrease is attributable to reductions in employees and other
cost savings measures implemented by management.  Interest
expense for the six months ended June 30, 2001, was $229,572 as
compared to $308,317 for the comparable period in 2000.  The
decrease in interest expense is attributable to the restructuring
during the last calendar quarter of 2000 of Citran's accounts
payable accrued in 2000 to installment obligations bearing
interest.

     As a result of the above factors, the overall net loss
decreased 24.4% to $1,142,182 for the six months ended June 30,
2001, as compared to $1,510,955 for the six months ended June 30,
2000.

Liquidity and Capital Resources

     Cirtran's current ratio at June 30, 2001 was 0.33:1 and at
December 31, 2000, was 0.41:1.  The primary reason for the change
was the reduction of trade accounts receivable from $883,825 at
December 31, 2000, to $503,909 at June 30, 2001.  Cirtran had a
working capital deficit of $5,329,983 at June 30, 2001, and has
recognized a net loss from operations through 2000 and the first
six months of 2001.  These factors raise substantial doubt about
the ability of Cirtran to continue as a going concern.
                                8
<PAGE>

     To address this issue, CirTran plans on working with vendors
to convert approximately 72 percent of trade payables into long-
term notes and common stock and cure defaults with lenders
through forbearance agreements that the Company will be able to
service.  Also, Abacus Ventures, Inc., purchased the Company's
line of credit from the lending institution and, based on certain
criteria, has indicated its willingness to exchange the debt for
common stock.  If successful, these plans will add significant
equity to the Company.  During the last six months of 2000,
CirTran successfully extended payment terms on $940,000 of trade
payables to monthly installment obligations with interest
accruing at the rate of 8% per annum.  It settled $646,283 of
trade payables with another creditor by paying $83,000 in cash,
issuing a non-interest bearing note in the principal amount of
$166,000 due in two installments in December 2000 and March 2001
(which has been paid), issuing a promissory note in the principal
amount of $73,000 bearing interest at 6% per annum payable in 18
monthly installments, and converting the remaining $324,283 to
352,070 shares of common stock.  CirTran will continue to pursue
these restructuring efforts to improve its financial condition,
but there is no assurance that management will be successful in
these efforts.

Forward-Looking Statements

     The Private Securities Litigation Reform Act of 1985
provides a safe harbor for forward-looking statements made by
Cirtran, except where such statements are made in connection with
an initial public offering.  All statements, other than
statements of historical fact, which address activities, actions,
goals, prospects, or new developments that Cirtran expects or
anticipates will or may occur in the future, including such
things as improvement in results of operations and other such
matters are forward-looking statements.  Any one or a combination
of factors could materially affect Cirtran's operations and
financial condition.  These factors include competitive
pressures, success or failure of marketing programs, changes in
pricing and availability of parts inventory, creditor actions,
and conditions in the capital markets.  Forward-looking
statements made by Cirtran are based on knowledge of its business
and the environment in which it operates as of the date of this
report.  Because of the factors listed above, as well as other
factors beyond its control, actual results may differ from those
in the forward-looking statements.

                   PART II.  OTHER INFORMATION

Item 6.  Exhibits and Reports on Form 8-K.

     Reports on Form 8-K:  None

     Exhibits:  None

                           SIGNATURES

     In accordance with the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned
thereunto duly authorized.

                                   CIRTRAN CORPORATION

Date: August 3, 2001              By:/s/ Iehab J. Hawatmeh, President

                                9
<PAGE>