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PRESS
RELEASE # 79
(Released
Via Business
Wire:)
Oct. 22, 2009
FLAME SEAL ANNOUNCES PLANS TO BECOME A
FULLY REPORTING COMPANY IN THREE STAGES.CURRENT NEWS ITEM:
FLAME SEAL PRODUCTS, INC. will become a fully reporting Company by
filing business reports, financials and required updates on Pink Sheets
– OTC. Plans are being enacted immediately to facilitate informing
shareholders with details that are otherwise restricted. Flame Seal’s
President, Mike Kiser, explains:
“Hello again, fellow shareholders, “We have had a plan in place to become a fully reporting Company
after the Polyurethane Foam Insulation business was well under way and
working smoothly, and when most of the manufacturers are Certified in
our Pre-paid Testing / Certification Program. However, I have decided
to take advantage of an opportunity to become a reporting company in
three stages on PK-OTC, which was offered to us recently by
Pinksheets.com. In step one, our designation will change from “No
Information” to “Limited Information” by filing our financials, even
though audits are not complete, plus a summary profile of the Company
and its Stock, plus an SEC Attorney’s opinion letter.”
“The
process on Pinksheets.com allows us to provide more information and
documentation at any time to add to existing information until the next
stage is reached, which is “Current Information”. Finally, when audited
financials are added, we can elevate the stock to the highest level as
a Fully Reporting Company in the OTC-QX program on Pinksheets.com. That
is a “tier” in their system that is above the Bulletin Board and on par
with major exchanges, so that a jump to one of them will then be a
simple matter of paying fees and moving the stock, as we choose.”
“Even though the Financials and Company profile is all that is required
to receive the “Limited Information” status, we are going to take full
advantage of the Pinksheets.com system and provide a Business Report
and Forecasts with the initial filing.”
“The PRIMARY reason to
do this now is the BUSINESS REPORT and updates. I will be have to
report all material contracts, companies, agreements, etc. Even though
there are “secrecy agreements” in place, those agreements cannot
restrict us from properly informing our shareholders of “material”
events or activities. This way, all of you will have access to the
substantive details, including the exciting forecast that has been
developed based on Contracts, Client Quotas, and THEIR sales
expectations of Flame Seal products. Look for the announcement that we
have completed the filing at PK-OTC, so you can then go to
Pinksheets.com to download all the information. We anticipate making
the filing within a month. I repeat, due to the secrecy agreements,
there will be no press releases to the general public on many of the
details, so I encourage you to obtain the information at Pinksheets.com
when we release it.”
“Another excellent reason for making this
move now is the fact that statistics show stocks listed as “Limited
Information” trade an average of over 50 times the dollar volume
compared to “No Information” stocks.”
“This process gives us a
means to provide our shareholders details that explain the forecasts
for 2010 we now have from major clients that are at $8Million, with two
more yet to be delivered to us! Rather than talk about all of this,
since it is now a very real, thriving business we have here, it’s time
to show our investors everything Flame Seal is up to. We will file the
first level information with Pinksheets.com in 3-4 weeks, so look for
it, and I am sure I will finally be able to share something with you
all… I know most of you have had “faith” in the Company, and we
appreciate that very much. But, now I believe this step will allow many
of you to share in my PRIDE in Flame Seal Products, Inc.”
Michael D. Kiser, President, Flame Seal Products, Inc.
ABOUT FLAME SEAL: Flame Seal is a Fire Retardant Technology Company that offers a
wide variety of products and technology solutions for a number of
diverse applications and industries. Our products are currently being
used on many substrates including Foam, Plastic, Fabric, wood, Paper,
Metals, etc. We also offer customized fire retardant solutions for
construction, as well as providing fire protection platforms for many
industrial uses.
For over 20 years Flame Seal Products has
been in the forefront of fire prevention technology. Our technology is
water based, non-toxic, environmentally friendly, and is based on
unique raw materials that allow for easy adaptation to diverse
industries and applications.
For
shareholder inquiries contact:Flame Seal Products
Stock Symbol: FLMP
www.flameseal.com
713-668-4291
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