Flameret Issues Update on Market Capitalization
LAS VEGAS, Nov. 9, 2011 /PRNewswire/ — Flameret, Inc. (OTCBB: FLRE), a leading provider of flame retardant products to various industries, today issued the following update on the number of common shares outstanding and the total market capitalization of the company.
Shares Authorized: 500,000,000
Shares Outstanding: 100,028,120
Free Trading Shares: 79,574,200
Christopher Glover, Chief Executive Officer of Flameret, Inc., issued the following statement, “It is important for us to clarify the market capitalization of our company and the public float. There is a lot of erroneous information that is spread on the internet message boards regarding small companies. Hopefully, this release clarifies the information about our shares outstanding. We are committed to building and preserving shareholder value.”
All data regarding shares outstanding and free trading shares was received directly from Flameret’s transfer agent on November 2, 2011.
Flameret, Inc. has developed fire retardant products to suit a wide range of applications. These products are marketed under the brand names; Flameret, Flamex, Ultra Flamex and Impex. Flameret(TM) products are patented and held in the name of United American Inc.
Flameret’s numerous flame retardant products are applicable for the manufacturing of an array of textile applications which includes mattresses, bedding, furniture, and clothing. The Company has designed fire resistant textiles fire barriers for this US standard and other world markets. Our complete fire retardant product lines should compete favorably with other competitors, because Flameret’s(TM) fire retardants are highly effective and – non-toxic.
Flameret Fire Retardant and fire resistant applications will be sold to separate industries. These industries include the fire resistant textiles industry, the military and the energy extraction industry (oil fields), the aviation industry, and forestry services. The Company expects to manufacture and sell Flameret fire retardant products for the treatment of textiles lines at the production stage for various textile products. In the near future Flameret also plans to offer a complete line of fire extinguishing products.
For information concerning Flameret, Inc., please visit the Company’s website at www.flameret.com.
The press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to the Company’s development program and any other statements that are not historical facts. Such statements involve risks and uncertainties, including, but not limited to, those risks and uncertainties relating to difficulties or delays in development, testing, regulatory approval, production and marketing of the Company’s products, the uncertainty of patent protection for the Company’s intellectual property or trade secrets, and the Company’s ability to obtain additional financing. Such statements are based on management’s current expectations, but actual results may differ materially due to various factors, including those risks and uncertainties mentioned or referred to in this press release.
SOURCE Flameret, Inc.