“Java Space Error” Fix for Flex Developers

I thought I had to write this, at least for my benefit, but for others as well, who are trying to scour the internet to find the solution to this. The problem is, when using ANT and MXMLC, to compile your Flex projects, you get a “java heap space” error, similar to: [mxmlc] Error: Java heap space  1 [mxmlc] Error: Java heap space  [mxmlc] java.lang.OutOfMemoryError: Java heap space 1 [mxmlc]...