SUN VALLEY, Calif., April 6, 2004 (PRIMEZONE) -- Flamemaster Corporation (Nasdaq:FAME) today reported that it will not proceed with the distribution of Flamemaster Aerospace Shares at this time due to obstacles beyond the Company's control.
The Transaction with Cyberhotline has been modified and Flamemaster will acquire a small interest in the Internet Service and Web Hosting firm for cash. Flamemaster will acquire a convertible note, that will be convertible into a 2% equity interest and will pay Flamemaster 2.5% of net profits over $10,000 annually.
Cyberhotline, Inc. is a privately held Nevada Corporation with its principal place of business in Los Angeles, CA. Its business is primarily that of an Internet Service Provider, offering dial-up Internet access for $8.25 - $10.95 per month. Cyberhotline.com provides Internet access to most locations in the United States and Canada as well as Web Hosting.
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.