Somerville, NJ
-- June 30, 2022 -- InvestorsHub NewsWire -- Global
Fiber Technologies (OTC
PINK:GFTX) ir.globalfibertechnologies.com has
secured its second round of inventory financing for the
creation of an additional 250,000 vinyl records bringing the post
manufactured inventory count to
500,000.
Chris Giordano President and Chairman of Global
Fiber Technologies, Inc. stated; "The additional inventory is being
created as a result of the very strong interest coming from brick
and mortar. Without a significant marketing effort 2 major
retailers have already indicated their intent to purchase more than
half of the inventory being created. We now will begin the process
of acquiring firm "purchase orders" from these two mass
merchandisers and other retail and specialty retail stores in late
July and August.
Manufacturing and self-distributing vinyl records
into major retailers in conjunction with our joint venture with
InvenTel, www.inventel.tv will
represent a significant part of our future revenue and
earnings.
The Vinyl opportunity combined with several new
licenses on the horizon utilizing our patented "Made from the
Original" process to create, authenticated collectible clothing,
should provide significant growth for years to
come.
In addition, the future launching of our WEB 3.0
propositions, music NFTs, our to be fan bundles containing both an
NFT and an Authentic Heroes physical collectible will not only
provide significant revenue opportunities, but also give the
company additional focus from the investment
community.
Lastly, the Metaverse is here. Having 17,000
Masters including a plethora of Grammy Award winning artists to
draw from is of great significance. Whether we use them for
concerts in one of the Metaverse' or open a storefront hosted one
of those artists are all in the
cards.
We look forward to keeping you apprised of our
progress in the coming weeks as we now transition from a "pre-rev"
to a revenue producing company.
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.
Contact:
(732)
695-4389
chrisg@ecotek360.com
pauls@ecotek360.com