Open this CSS file:
http://localhost/template2/modules/mod_vm_flexible_fancy_slider/media/css/themeStickV2.css
themeStickV2.css, themeBasic.css, themeBorder.css or themeStick.css depends on what Theme you are using through Module parameters.
Scroll to the bottom this CSS file and Then add this CSS rule:
.FlexibleSoldOut {
display:none;
}
And the "sold out" label will be gone.
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