Authentic Heroes Expects Strong Fourth Quarter Sales And First Quarter Profitability
Flemington, NJ, Sept. 09, 2020 (GLOBE NEWSWIRE) —
Flemington NJ., Global Fiber Technologies, Inc (OTC PINK: GFTX) expects its Authentic Heroes subsidiary to turn in a solid performance in fourth quarter 2020.Chris Giordano, Authentic’ s Chairman and President stated, “All of the cost cutting and consolidation we did starting with the delivery of our equipment to our collaboration partner “Fiber Conversion ‘s” facilities in Broadalbin, NY and shifting our overhead for warehouse and corporate offices to one central location yielded tremendous benefits for us. Our selling, general and administrative expenses are now negligible and we will start reaping the benefits of that strategic move well into the future.We expect to start Fourth Quarter 2020 with three active licenses and end it with 4 to 5. Most importantly, every license that we sign will be supported by a strong social media outreach of millions of followers on the licensor’s own social media platforms whether it be Facebook, Twitter, or Instagram. Having access to millions of fans allows us to hyper-market our Authentic Heroes lines to a welcoming and motivated fanbase developed and owned by the licensor. We have a partnership per our licensing agreement whereby the “icon” markets our product directly to his or her fanbase as opposed to Authentic marketing it in a typical Facebook advertising scenario. It puts what would be typical social media marketing into hyper drive since the “call to action” comes directly from the licensor such as Brett Favre to his fanbase. We sell limited quantities of our “Made From The Original” lines so the potential for sellouts is very real. Almost all of our orders will be “Pre-Orders” so inventory risk as well will be very much lowered in the process since we will know the sizing and produce quantities accordingly. With 3-4 licenses in play going into the holiday season we are confident in having an excellent fourth quarter debut with our product line to being marketed to eager, and very connected fanbasesAs stated in a previous press release we were issued an extremely valuable patent by the USPTO. We cannot stress the importance of that patent since it has given us an advantage in this competitive arena that separates us from everyone else. We are a totally unique brand in the making. Henceforth, the patent issuance and its impact on marketing, cutting our overhead costs by 80% and 3-4 licenses generating sales, we are highly confident in having a watershed year end and a profitable 1st Quarter in 2020.We appreciate the patience of our shareholders during these challenging times and look forward to keeping all of you apprised of our progress in the coming weeks.Safe Harbor ActChris H Giordano
chrisg@globalfibertechnologies.com
1-732-695-4389 EXT 502
Paul Serbiak
pauls@globalfibertechnologies.com
1-732-695-4389 EXT 501
