FLAMEMASTER CORPORATION
11120 SHERMAN WAY, SUN VALLEY, CALIFORNIA 91352-4949
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P R E S S R E L E A S E
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FOR IMMEDIATE RELEASE:
May 6, 2005
Contact: Joseph Mazin, President & CEO
Telephone: (818) 982-1650
Fax: (818) 765-5603
Web Site: http://www,flamemaster.com
E-mail: releases@flamemaster.com
FLAMEMASTER DISCLOSES RECEIPT OF NASDAQ DETERMINATION
LETTER OF NON COMPLIANCE AND POSSIBLE DE-LISTING
Sun Valley, California, Flamemaster Corporation (NASDAQ "FAMEC" disclosed today
that it has received a NASDAQ staff determination on May 5, 2005 indicating that
the Company fails to comply with the following NASDAQ marketplace rules:
Rule 4310(C)(17) Regarding notification of the issuance of additional
shares;
Rule 4350(i)(1)(C) Regarding shareholder approval;
Rule 4330(f) Regarding reverse mergers.
Flamemaster received the NASDAQ staff determination letter due to concerns over
the recent transactions with Best Candy & Tobacco Co. The Staff determined that
the transaction with Best Candy constituted a reverse merger and that an initial
listing application for Best Candy would be required.
If the NASDAQ listing qualifications panel concurs with the above staff
determination, the Company's stock will be de-listed from the NASDAQ Small Cap
Market. The common stock will immediately be eligible for quotation on the OTC
Bulletin Board under the symbol "FAME".
Forward-Looking Statements:
Statements about the Company's future expectations, including future revenues
and earnings and all other statements in this press release, other than
historical facts are "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of
1934, and as the term is defined in the Private Litigation Reform Act of 1995.
The Company's actual results could differ materially from expected results. The
Company undertakes no obligation to update forward-looking statements to reflect
subsequently occurring events or circumstances. Should events occur which
materially affect any comment made with this press release; the Company will
appropriately inform the public.