American Fire Retardant Corporation Announces Financing for ''3-in-1 Hero'' Infomercial.Business Editors SAN DIEGO--(BUSINESS WIRE)--April 18, 2002 American Fire Retardant fire retardant Public health A chemical used to resist combustion, which may contain polybrominated biphenyls and antimony oxide Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AFRC AFRC Air Force Reserve Command (formerly AFRES) AFRC Armed Forces Revolutionary Council (Sierra Leone) AFRC Agricultural and Food Research Council (United Kingdom) ), (www.americanfireretardant.com), a fire protection company that specializes in fire prevention and fire containment announced today that the Company has completed a private placement transaction for the production and completion of the "3-in-1-Hero" infomercial. The private placement included a total financing of $205,000 from a group of individual investors in exchange for one year restricted shares priced at five cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . "We feel that this investment, along with our current cash flow can carry us to the point of realization of a revenue stream from the sales off the infomercial," stated American Fire Retardant President Stephen Owens. Fawcett Productions, one of America's premiere Direct Response companies will be responsible for the production of the "3-in-1 Hero" infomercial for American Fire Retardant Corp. The scheduled time In rallying, the Scheduled Time of any crew is the time, calculated at the beginning of the event, that they should arrive at any given control. It is different from Due Time in that Due Time is dynamic, ie it can change throughout the event as competitors drop time; whereas for airing is slated for the month of June. "When 'AFRC' approached us with their 3-in-1 protection product, it met our fundamental criteria for a potentially successful DRTV DRTV Direct Response Television (media) Infomercial," stated Fawcett Productions President, Bill Fawcett. "Besides being a fire retardant and fireproofing fireproofing, method of making normally combustible materials as nearly noncombustible as possible. Fireproofing generally applies to textiles and construction materials that are treated with a solution or coating of some substance that will tend to retard their product, it also has the properties of being a stain repellent and an antimicrobial product, in that it kills mites and thereby reduces seasonal allergies," commented Fawcett. "At this point, AFRC has also determined not to proceed with our relationship with Tri Star Capital. Under the terms they presented, it would have resulted in major shareholder dilution, which is unacceptable to management and our shareholder base," added Owens. American Fire Retardant Corp. is dedicated to enhancing shareholder value. About American Fire Retardant Corp. American Fire Retardant Corp. is in the business of developing, manufacturing and marketing a line of interior and exterior fire retardant chemicals. The company provides fire resistive resistive /re·sis·tive/ (re-zis´tiv) pertaining to or characterized by resistance. finishing services through its "Textile Processing Center" for commercial users. American Fire Retardant Corp. also designs new technology for future fire resistive applications that are being mandated by local, state and governmental agencies. Additionally, the company is active in the construction industry as sub-contractors for fire stop and fire film installations. Presently, the company's total issued shares equal 37 million. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for Forward-Looking Statements: Except for historical information contained herein, the statements in this news release are forward-looking statements that involve risks and uncertainties and are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results. There can be no assurance as to the amount of revenue that will be generated from the "AFRC" infomercial. |
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