ActionScript 3.0 :: Accessing Dynamic Text In A Dynamically Created Movielcip?

I created a movieclip and linked it to a class called CustomButton. Inside the movie clip is a text field with name btnText. I then created a few buttons with this code:

Code:
var newBtn:CustomButton = new CustomButton();
// set properties of new button
newBtn.x = INIT_X;

[code]....

So far, so good. Everything works ok and the code sets the text of the new movieclip. Now, I wanted to actually write the CustomButton class and add some properties and eventually do other stuff with it and so I wrote this:

Code:
package
{
import flash.display.MovieClip;

[code]....

On trying my script again, it gives me this error:

Code:1119: Access of possibly undefined property text through a reference with static type String

the line of code it refers to is:

Code:
newBtn.btnText.text = text;