Somerville, NJ -- August 30, 2022 -- InvestorsHub NewsWire
-- Global Fiber Technologies (OTC
PINK: GFTX) through its subsidiary Authentic Heroes has secured
its first purchase order for its "Old is Gold" Christmas
album.
Chris Giordano President and Chairman of Global Fiber Technologies,
Inc. stated; "Our initial march into the world of music
entertainment has been met with extraordinary enthusiasm.
Brick and mortar stores have shown extreme interest in our
portfolio of music. This first purchase order is for a total of
$800,000 or 40,000 units from a company known as "Best of As Seen
On TV" of Westchester PA.,
We are working with Mass Merchandisers, Big Box Retail and
Specialty Retail stores for what potentially could be a total of
550,000 Old is Gold Christmas Units sold at a wholesale price of
$20.00 per unit for 2022 season.
Closing the first purchase order is a watershed event for Global
and its shareholders. It will be the first of several more to come
this quarter.
By combining the strengths of two of our joint venture partners
Maestro Entertainment and InvenTel, https://inventel.tv/
allowed us an extraordinary opportunity for 2022 and the
ability to establish substantial footprint in the vinyl record
industry going forward.
Maestro Entertainment has a catalog of 17,000 Master Recordings
from hundreds of artists and currently streams its music on Sony's
"The Orchard".
InvenTel the primary "As Seen on TV company has massive
distribution with products in over 150,000 stores and a customer
list of over 100,000,000 people.
Creating a marriage between the parties with Global in the middle
of it all was essential. Our ability to distribute vinyl records
into major retailers is a home run for us which will produce
millions of dollars in sales in 2022 and beyond.
Global is becoming the innovator in the vinyl record business with
this Christmas season release. We are a first and the first to
embed a QR Code into the Vinyl album that allows the scanner to
receive a free NFT. What it also does is allows us to collect
valuable information such as name, telephone and email addresses to
create a very large list of future buyers for our products
This is an exciting time for Global and its shareholders and we
look forward to keeping you apprised of our progress in the coming
weeks as we march towards becoming a force in the music
business.
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.