Global Fiber Technologies, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2019
November 19, 2019 at 08:04 pm
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Global Fiber Technologies, Inc. announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced sales was USD 1,784. Operating loss was USD 200,268 compared to USD 36,172 a year ago. Net loss was USD 525,906 compared to USD 78,473 a year ago. Basic loss per share was USD 0.02. Basic loss per share from continuing operations was USD 0.02. For the nine months, sales was USD 1,784. Operating loss was USD 498,930 compared to USD 167,276 a year ago. Net loss was USD 1.212 million compared to USD 236,843 a year ago. Basic loss per share was USD 0.04 compared to USD 0.01 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.
AUTHENTIC HOLDINGS, INC. 
