Somerset, NJ, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Global Fiber Technologies, Inc., Updates Shareholders

1st QTR Update

Global Fiber Technologies, Inc., (OTC PINK: GFTX) updates its shareholders on the company’s financial filings, operations and its future plans.

Beginning a new year for us comes with accomplishments that seemed unsurmountable just a year ago given the global situation a hand. 2021 we feel will be a year filled with hurdles that have been crossed and opportunities that will change the face of the Company.

As it relates to the filing of our financials, we are at the end of the process of auditing our financials for 2019 and are confident that the 10-K for 2019 will be filed in the very near future.

Subsequent to the filing of the 2019 10-K, we will begin the process of filing the 10-Q for first quarter 2020, and the balance of the quarterly reports due for 2020 moving us much closer to the goal of becoming “fully reporting” and up-listing to OTCQB and having the STOP sign removed from our “ticker”.

The Company has discussed its approach with both the regulators and OTC MARKETS and we are confident that our approach is both achievable and acceptable. Ultimately, Global Fiber will become a fully reporting company in the not too distant future.

As it relates to our operations, Authentic Heroes will be the tip of the spear for Global since it will have the ability to generate sales and profit in the very near future with licenses we already have.

We are particularly excited about the prospects we have with YUNGBLUD the musical artist. YUNGBLUD recently had the # 1 ranked album in the UK while also having the “most engaged” audience on Instagram. This makes for a powerful combination when selling merchandise via e-commerce.

YUNGBLUD’s management team has been working diligently with us on finishing the final designs for a line of “Special Edition” collectible clothing which will include Tees, Pullover Hoodies, YUNGBLUD’s famous “pink socks” and the “Underrated Youth” flag that he paraded on stage with and some of the merchandise will be signed by YUNGBLUD. 

In conjunction with each sale a portion of the proceeds will go to help fund the WAR CHILD charity https://www.warchild.org/ which is YUNGBLUD’s charity and we are proud to be involved in helping their cause
             
To further augment our combined marketing efforts, Yungblud has made a video speaking about: The articles of clothing that he is giving to Authentic Heroes from his 2019 sold out tour, the War Child charity, and his relationship with Authentic Heroes.  
             
This video will soon be distributed to his millions of followers on YouTube, Instagram and Twitter, making them aware that there is something special coming. It is our opinion that this unique approach of addressing your fan base will drive significant traffic for the sale of these “one of a kind” collectables.
             
      4.    Run DMC: We are working with Bravado, the merchandising arm of Universal Music, to find “photo-matched” articles of clothing from prior concerts that we can create authenticated merchandise from. We expect to be updated shortly by Bravado so we can bring the Authentic Heroes experience and collectable merchandise to the massive fan base of RUN DMC.
             

We truly feel the music industry will end up being our sweet spot, since it is devoid of a true brand. Our combination of patented technology and social media driven “target marketing” by an artist like YUNGBLUD to his “Super-fans” will allow us to create a resonating footprint in the industry which will set our merchandise apart from the conventional offerings sold throughout the industry. Brand is everything and we are excited by the possibilities of potentially becoming the “gold standard” of music merchandise.

Whether someone is a member of GEN Z, GEN Y, GEN X or Baby Boomers everyone wants to own a piece of history. Authentic Heroes through its patented technology and unique manufacturing process makes it possible for everyone to own the history of their favorite icon at an affordable price.

Welcome to FANWEAR 2.0

      B.    ECOTEK 360

ECOTEK 360 is working diligently towards reaching the critical point where it can fully commercialize its proprietary technologies for the rejuvenation of corporate uniforms, products for hospital and healthcare industry, as well as products for the hospitality markets.

Our pilot line has produced excellent results to date and we are now getting closer to the point of being able to create game changing products that can help ameliorate the need for dumping or incinerating end of life textile waste.

Our sample fibers have been examined by a potential manufacturing partner, which has brought us to a point where ECOTEK 360 is now exploring the potential for a joint venture with them overseas as well as here in the United States. The nature of the relationship is one where we bring our core technologies and trade secrets as part of a brand new joint venture to create products for the retail market.

We have also run fiber for a hospital system on our pilot line and gotten back excellent results. We are expecting to move further down the path with creating samples that could lead to substantial commercial sales.

We hope this sheds light on our current state of affairs as well as our goals for the future. We welcome any questions from our shareholders and look forward to keeping you informed as information and results become available

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.

 

Chris H Giordano

chrisg@ecotek360.com

1-732-695-4389 EXT 502

Paul Serbiak

pauls@ecotek360.com

1-732-695-4389 EXT 501