This Press Release Replaces The Previous Press Release Issued at 9:33 am EDT on June 27, 2019
GFTX Expecting to Drive Growth Through Innovation in the Textile Fiber Industry
SOMERSET, NJ / ACCESSWIRE / June 27, 2019 / Global Fiber Technologies (OTCQX: GFTX) operates three businesses that are involved in the distribution, rejuvenation and authentication of textile fibers.
Each business will draw on its patent pending technology and/or its trade secrets to give GFTX first mover advantage over its competition.
Our Three Businesses
1. Eco Tek 360, recovers and rejuvenates apparel utilizing patent pending technology which takes landfill destined corporate uniforms and repurposes them back to the same customer as high quality apparel for their employees. In the process we help our customers to reduce carbon footprints and collectively save billions of gallons of water. Eco Tek 360 is in the final stages of completing its development and anticipates commercial launch in 1st QTR. 2020
2. Fiber Chain, Inc., is creating a revolutionary block chain driven business platform for the efficient trading of textile fiber.
Fiber Chain will be able to reduce transaction times from weeks to minutes, eliminate the constant errors associated with processing transactions, evoke dramatic savings and simultaneously recording each transaction on a block chain for immutability.
Fiber Chain has completed approximately 70% of the total platform development. We are now moving toward completion of our BETA site anticipated to launch later in the year.
3. Authentic Heroes, Inc., specializes in developing handcrafted limited edition fanwear from original event worn apparel.
Our trade secrets and technology allow us to extract the original fibers from a game or event worn garment and make a limited series of collectible/wearable fanwear that is digitally encoded with the fibers from the original garment.
The authenticated garment receives an individual serial number and is marked with a QR code that leads the purchaser to his/her personal online vault.
While all three subsidiaries are driving innovation in their respective markets, we are focusing on the near-term revenue opportunity that Authentic Heroes represents.
We hope this gives our shareholders a bird's eye view as to where we are with our "go to market" strategies and look forward to updating you soon.
Safe Harbor Act
Forward-Looking Statements: This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Global Fiber Technologies, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements including those relating to the Company's financing being adequate for the Company to place its products in retail stores, execute its acquisition strategy, and to launch its growth and expansion plans, among others, are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Global Fiber Technologies, Inc.'s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. No information in this press release should be construed in any way whatsoever as an indication of Global Fiber Technologies Inc.'s future revenues, financial performance or stock price. More information about the potential factors that could affect the business and financial results is and will be included in Global Fiber Technologies, Inc., filings with the Securities and Exchange Commission at www.sec.gov.
SOURCE: Global Fiber Technologies