Global Fiber Technologies, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 22, 2022 at 04:23 pm EDT
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Global Fiber Technologies, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported net loss was USD 0.200703 million compared to USD 0.038735 million a year ago. Basic loss per share from continuing operations was USD 0.0001.
For the six months, net income was USD 0.190324 million compared to net loss of USD 0.028563 million a year ago. Basic earnings per share from continuing operations was USD 0.0001.
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.