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Founded in 1942, Flamemaster Corporation manufactures sealants, adhesives, ablative and heat-resistant coatings and electrical cable fire retardant coatings.

Pacoima, California, July 26, 2007 – Flamemaster Corporation (OTC Pink Sheets “FAME”) today reported net income of $279,291 or $.23 per share on record sales of $1,721,931 for the quarter ended June 30, 2007, a 17.7% gain, compared to net of $122,733 or $.10 per share on sales of $1,462,696 in the year earlier period.  

 For the nine-month period ended June 30, 2007, sales increased by 9.3% to a record $4,850,411 compared to $4,439,230 in the year earlier period.  Net income for the nine months decreased to $181,750 or $.15 per share vs. $470,727 or $.38 per share.

 During the 1st quarter of fiscal 2007 (quarter ended December 31, 2006) The Company relocated to a new facility that is nearly twice as large as the previous facility.  The costs associated with the move and the disruption of production severely impacted the 1st and 2nd quarter results.

 The Company reported a loss in the 1st quarter ended December 31, 2006, which was the 1st quarterly loss in over 20 years.  “We are still settling in to the new facility and continuing to make adjustments and modifications to improve productivity and provide better service and quality products to our customers”, stated Mr. Joseph Mazin, Flamemaster’s CEO.  

Flamemaster is a Southern California based specialty chemicals manufacturer of high performance sealants, adhesives and coatings.  

The release herein may contain or identify a forward-looking statement.  These statements are based on a number of assumptions and estimates, which are inherently subject to uncertainty and contingencies, many of which are beyond the control of the company and reflect future business decisions, which are subject to change

Flamemaster Corporation (NASDAQ "FAME") reported that it has entered into a letter of intent with Best Holdings Acquisition Company LLC and Aries Capital Partners LLC to merge their holdings of 100% of the outstanding shares of  Capital Stock of Best Candy & Tobacco Co., an Arizona Corporation, into Flamemaster. On the closing date pursuant to a signed and executed definitive merger agreement by and between the parties, Flamemaster will acquire 100% of  the Best shares. Pending a definitive agreement, Flamemaster withdraws their announced intent to file a Form 15 with the Securities and Exchange Commission  (SEC) and amends their Form 8K, Item 3.01 previously filed September 14, 2004.

Not always, damn why didnt I listen when my accountant babbles on

Is this the same Best Holdings, doesn't sound like it does it?

Sounds like someone could have put two and two together and come out with the wrong number

Isn't a holding company just a company that has lots of shares in other companies? :?

A pure holding company is defined by Portuguese law as an SGPS ("Sociedade Gestora de Participações Sociais"), whose activity is exclusively the management of shares held in other companies. Portuguese holding companies are exempt from taxation on the income received from EU affiliated companies, in accordance with the EU directive EEC/90/435.

Bristol firm Clarke Willmott has become the latest firm to benefit from the series of foreign takeovers of UK football clubs, advising the board of Swindon Town Football Club on its acquisition by Portuguese company Best Holdings.

Sports partner Trevor Watkins led the Clarke Willmott team. He said: "We are seeing more and more of these deals across the leagues, with three or four similar transactions in the pipeline.”


He added: “Getting it right off the pitch in the longer term will be as crucial as results on it if we are not to see a return to the financial instability prevalent only a few years ago.”

Boutique practice Anthony Seddon & Co advised the Portuguese buyers.

In June, Hammonds advised former Thai prime minister Thaksin Shinawatra on his takeover of Manchester City, with Denton Wilde Sapte advising the club.