Global Fiber Technologies, Inc. Reports Earnings Results for the Full Year Ended December 31, 2020
October 01, 2021 at 10:29 pm
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Global Fiber Technologies, Inc. announced earnings results for the full year ended December 31, 2020. For the full year, the company announced sales was USD 3,994 compared to USD 3,758 a year ago. Operating loss was USD 366,200 compared to USD 664,039 a year ago. Net loss was USD 1.135 million compared to USD 1.662 million a year ago. Basic eps - continuing operations was USD 0 compared to basic loss per share from continuing operations of USD 0.06 a year ago.
Authentic Holdings, Inc. comprises two separate operating subsidiaries. The Authentic Heroes, Inc. subsidiary has patented technology that takes the original event-worn apparel from an iconic individual and creates fan-wear collectibles containing fibers from that original. All of the Fan-Wear items have an embedded QR code that registers the items on the blockchain for their provenance and immutability. It is also in the business of creating vinyl records for distribution in retail department stores and online sales. It also has an NFT platform on the Etherium blockchain capable of housing millions of NFTs. The Company's business plan is to operate a fiber rejuvenation technology company. The Company plans on offering branded fabrics, apparel, and uniforms to the corporate, hotel, hospital, and military markets. Its business plan also involves operating as an intermediary, providing an expedited trading platform for buyers and sellers to efficiently consummate fiber transactions.