Does the MTASC compiler also compile AS3

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Looks like MTASC is for AS2. Does it also compile AS3?

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It doesn't, you can use mxmlc to compile AS3.

Download the Flex SDK (mxmlc is included)

Read here for a nice tutorial using mxmlc to compile AS3.

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Same guy who wrote MTASC wrote Haxe it compiles to many languages including AS1, AS3, JavaScript and PHP