Exhibit 10.34
PROMISSORY NOTE
December 23, 2003
Jersey City, New Jersey $150,000.00
FOR VALUE RECEIVED, the undersigned, CIRTRAN CORP., a Nevada corporation (the "Company"),
promises to pay CORNELL CAPITAL PARTNERS, LP (the "Holder") at 101 Hudson Street, Suite 3606,
Jersey City, New Jersey 07302 or other address as the Holder shall specify in writing, the principal sum of One
Hundred Fifty Thousand (U.S.) Dollars and 00/100 ($150,000.00) and will be payable pursuant to the following
terms:
1. Amount of Note. The face amount of this Promissory Note (this "Note") shall be payable out of the net
proceeds to be received by the Company under that certain Equity Line of Credit Agreement (the "Equity Line of
Credit Agreement") dated as April 8, 2003 between the Company and the Holder, provided that all amounts due
under this Note shall be paid in full within sixty-nine
(69) calendar days of the date hereof, unless an extension is mutually agreed to by the parties in writing. The
Company agrees to escrow two (2) requests for advances under the Equity Line of Credit Agreement in an
amount not less than Seventy-Five Thousand Dollars ($75,000) (individually referred to as "Advance Notice"
collectively referred to "Advance Notices") as well as Ten Million (10,000,000) shares of the Company's
Common Stock as required under Section 2.2(c) of the Equity Line of Credit Agreement (the "Escrowed
Shares"). The Escrowed Shares are only an estimation of the shares of the Company's common stock necessary
to repay the principal amount and interest due hereunder. In the event that during the life of this Note the
Escrowed Shares are insufficient to repay all amounts due hereunder the Company shall immediately escrow,
pursuant to the irrevocable transfer agent instructions dated the date hereof (the "Irrevocable Transfer Agent
Instructions") such number of shares of the Company's common stock sufficient to repay all amounts due
hereunder. The Advance Notices and the shares of the Company's Common Stock will