Extreme Ghostbusters: Flip Top Watch was a watch by Toy Options Limited under the Watch It brand. It was released in 1997 to coincide with Trendmasters' UK promotion of Extreme Ghostbusters.
During 1996 through 1998, Watch It was a brand by Toy Options Limited that made "Flip Top Watches" based on licences. Toy Options Limited has been around since the the 1980's.
Images provided by Collector David Boozer of The Ghostbusters Vault (Fan Site).