FORWARD-LOOKING STATEMENTS

This quarterly report contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

Our consolidated unaudited financial statements are prepared in accordance with United States Generally Accepted Accounting Principles. The following discussion should be read in conjunction with our financial statements and the related notes that appear elsewhere in this quarterly report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed below and elsewhere in this quarterly report.

In this quarterly report, unless otherwise specified, all dollar amounts are expressed in United States dollars and all references to "common shares" refer to the common shares in our capital stock.

As used in this quarterly report, the terms "we", "us", "our company", mean Global Fiber Technologies, Inc. a Nevada corporation, and our wholly-owned subsidiaries Eco Chain 360, Inc. and Authentic Heroes, Inc., unless otherwise indicated.





General Overview

Global Fiber Technologies, Inc. was incorporated in Nevada on March 25, 2005 under the name "Premier Publishing Group, Inc.". Originally formed as a publishing company, our company ceased publishing operations in or around 2007.

On May 28, 2019, we entered into an asset purchase agreement (the "Purchase Agreement") with AH Originals, Inc. ("AH"), pursuant to which we will acquire from AH certain assets including: equipment (which includes a Della' Orco Sample Line, Electro Steam Boiler/Steamer and Schulz 5 HP Condenser), inventory, materials, intellectual property (including PCT/US2018/047918 - Authenticatable Articles, Fabric and Method of Manufacture, 16/311,095 - Authenticatable Articles, Fabric and Method of Manufacture, as well as the rights the trademarks, trade names, logos, etc. For "Authentic Heroes", "Feel the Bond", and "Event Worn Reborn"), along with all domain names of AH. The purchase will be paid through the issuance of 6,400,000 shares of our common stock and 200,000 shares of common stock of Authentic Heroes, Inc. (a subsidiary created by the Company to receive and operate the purchased assets), and the remaining $480,000 will be paid through a promissory note at 3% interest with a three-year term.

The terms of the Purchase Agreement completed on June 18, 2019. The aggregate consideration was $447,150 payable via a promissory note at 3% interest with an amended loan term with an initial term of one-year and eight options for the noteholder to extend the maturity date for three-month periods, as opposed to the original three-year term. The balance of the purchase price was to be paid through the delivery to Seller of 6,400,000 shares of our common stock and 200,000 shares of common stock of Authentic Heroes, Inc. (a subsidiary created by our company to receive and operate the purchased assets). Our company did not assume any liabilities of AH other than the lease for the facility where the equipment purchased is located.

On July 17, 2019 Authentic Heroes Inc., our majority owned subsidiary entered into a "merchandise license agreement" with IMG/Football Greats Alliance whereby Authentic Heroes will make authenticated replicas of "game worn" jerseys utilizing its trade secrets and patent pending processes. Terms of the deal were deemed and implied confidential by the contract.

On September 21st, of 2020, Authentic Heroes Inc. signed a license Yungblud and Bravado/Universal Music Group to will make authenticated replicas of "concert worn" jerseys utilizing its trade secrets and patent pending processes. Terms of the deal were deemed and implied confidential by the contract.

Our address is 50 Division Street, Suite 501, Somerville, New Jersey 08876. Our corporate website is http://ecotek360.com/.






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We have never declared bankruptcy or been in receivership. We have earned minimal revenues and have limited cash on hand. We have sustained losses since inception and have primarily relied upon the sale of our securities and loans from related parties for funding.





Our Current Business

We are currently in the development stage. Our business plan is to operate a fiber rejuvenation technology company. It plans on offering branded fabrics, apparel and uniforms to the corporate, hotel, hospital and military markets. We will achieve this by utilizing a patented and proprietary process for rejuvenating textile waste into high quality fabrics and apparel.

Our business plan also includes creating branded and authenticated replicas from the textile fibers of "event worn" apparel, formerly worn by celebrities within the music and sports industries. We have achieved this milestone and are in the process of creating commercial opportunities utilizing our process and trade secrets.

A novel strain of coronavirus ("Covid-19") emerged globally in December 2019 and has been declared a pandemic. The extent to which Covid-19 will impact our customers, business, results and financial condition will depend on current and future developments, which are highly uncertain and cannot be predicted at this time. While the Company's day-to-day operations beginning March 2020 have been impacted, we have suffered less immediate impact as most staff can work remotely and can continue to develop our product offerings.

That said we have seen our business opportunities develop more slowly mostly as a result of supply chain shutdowns and the significant delays it has caused in bringing our products to market. We are in the process of re-developing our supply chain and hopefully should ameliorate our supply chain challenges in the very near future

On July 17, 2019 Authentic Heroes Inc., our majority owned subsidiary entered into a "merchandise license agreement" with IMG/Football Greats Alliance whereby Authentic Heroes will make authenticated replicas of "game worn" jerseys utilizing its trade secrets and patent pending processes. Terms of the deal were deemed and implied confidential by the contract.

On December 1st 2019, Authentic Heroes signed a license agreement with Universal Music Group/Bravado and the Hip Hop group "RUN DMC. Authentic Heroes is currently working with Bravado and RUN DMC to monetize the opportunity with both digital and physical opportunities. Terms of the deal were deemed and implied confidential by the contract.

On September 21st, of 2020, Authentic Heroes Inc. signed a license Yungblud and Bravado/Universal Music Group to will make authenticated replicas of "concert worn" jerseys utilizing its trade secrets and patent pending processes. Terms of the deal were deemed and implied confidential by the contract.

We are in late stage discussions for several licenses and also in the process of re-building and re-launching our e-commerce site within the 4th quarter

The company has also completed the coding of its "smart contract" on the Binance Block Chain. The smart contract is to be used in conjunction with the sale of both physical and virtual items in order to create the authentication, provenance and immutability of the products it will be offering including event worn clothing under the taglines of "Made from The Original" and "Event Worn ReBorn". It will also be the Smart Contract for the Company's future offering of Non-Fungible Tokens ("NFTS")

Our address is 50 Division Street, Suite 501, Somerville, New Jersey 08876. Our corporate website is http://globalfibertechnologies.com





Results of Operations

The following table provides selected financial data about our company for the three months period ended June 30, 2021 and the year ended December 31, 2020.





                                  June 30,       December 31,
                                    2021             2020           Change          %

Cash and cash equivalents $ 1,716 $ 8,548 $ (6,832 ) (79.93 )% Prepaid interest and deposits $ 125 $

           -     $    (125 )        100 %
Inventories                     $     60,815     $      60,815     $       -            -
Property and equipment          $    138,121     $     163,093     $ (24,972 )     (15.31 )%
Intangible assets               $     95,464     $     129,462     $ (33,998 )     (26.26 )%
Total Assets                    $    296,241     $     361,918     $ (65,677 )     (18.15 )%
Total Liabilities               $  3,092,884     $   3,139,998     $ (47,114 )      (1.50 )%
Stockholders' Deficit           $ (2,796,643 )   $  (2,778,080 )   $ (18,563 )       0.67 %

The following summary of our results of operations, for the three and six months ended June 30, 2019, should be read in conjunction with our financial statements, as included in this Form 10-Q.

Six months ending June 30, 2021, compared to six months ending June, 2020





                                         Six Months Ended
                                             June 30,
                                        2021           2020          Change            %
Revenue                              $      193     $    6,027     $   (5,834 )        (96.80 )%
Cost of Revenues                         (2,249 )       (3,860 )        1,611          (41,74 )%
Operating Expenses
Depreciation and Amortization           (58,970 )      (56,814 )       (2,156 )          3.79 %
General and administrative                                                             (50.33
expenses                                (74,241 )     (149,483 )      (75,242 )               )%
Stock based compensation                (10,000 )         (700 )       (9,300 )     (1,328.57 )%
Gain from extinguishment of debt
Other expense                          (116,704 )      (35,806 )     (152,510 )        425.93 %
Net loss                             $  (28,563 )     (240,636 )   $ (212,073 )        (88.13 )%

For the six months ended June 30, 2021, we have revenues of $193 with a cost of $2,249, sales generated from the Company acquired AH Originals, Inc. We incurred $74,241 in general and administrative expenses, depreciation and amortization of $58,970, stock-based compensation of $10,000, and other income of $116,704, resulting in a net loss of $28,563.






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For the six months ended June 30, 2020, we have revenues of $6,027 with a cost of $3,860, sales generated from the Company acquired AH Originals, Inc. We incurred $149,483 in general and administrative expenses, depreciation and amortization of $56,814, stock-based compensation of $700, and other expense of $35,806, resulting in a net loss of $240,636.

The decrease in net loss during six months ended June 30, 2021, compared to six months ended June 30, 2020 was mainly attributed to the decrease in general and administrative and interest expenses financing cost and offset by the change in value of the derivative liability.

Liquidity and Capital Resources

The following table provides selected financial data about our company as of June 30,2021 and December 31, 2020, respectively.





Working Capital



                                June 30,       December 31,
                                  2021             2020           Change          %
Current Assets                $     62,656     $      69,363     $  (6,707 )     (9.67 )%
Current Liabilities           $ (3,092,884 )   $  (3,139,998 )     (47,114 )     (1.50 )%

Net working capital deficit $ (3,030,228 ) (3,070,635 ) $ 40,407 (1.32 )%

Our working capital deficit decreased as of June 30,2021, as compared to December 31, 2020, due mainly to the decrease increase in convertible notes advances from related parties.





Cash Flows



                                             Six Months Ended
                                                 June 30,
                                            2021          2020         Change           %
Cash Flows used in Operating
Activities                               $ (156,996 )   $ (61,058 )   $ (95,938 )     (157.13 )%
Cash Flows used in Investing
Activities                               $        -             -             -             -
Cash Flows provided by Financing
Activities                               $  150,164        61,000        89,164        146.17 %

Net Change in Cash During Period $ (6,832 ) 58 28,975







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Cash Flow from Operating Activities

During the six months ended June 30, 2021, net cash used in operating activities was $156,996 compared to $61,058 during the six months ended June 30, 2020.

The net cash used in operating activities for the six months ended June 30, 2021 was attributed by the total net loss of $186,388, decreased by depreciation and amortization $58,968, gain in change in derivative liability of $157,825, stock issued for services $10,000 and accrued interest $41,118 offset by increase of accounts payable and accrued expenses $80,572.

The net cash used in operating activities for the six months ended June 30, 2020 was attributed to a net loss of $240,636, decrease by depreciation and amortization $58,815, amortization of debt discount $27,486, prepaid interest deposits $53,672 and accounts payable and accrued expenses $35,818.

Cash Flow from Investing Activities

The Company did not use any funds for investing activities during the six months ended June 30, 2021 and 2020

Cash Flow from Financing Activities

Net cash from financing activities was $150,164 for the six months ended June 30, 2021 attributable to proceeds from related party.

Net cash from financing activities was $61,000 for the six months ended June 30, 2020 attributable to proceeds from issuance of convertible notes.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to stockholders.

The report of our auditors on our audited financial statements for the fiscal year ended December 31, 2020, contains a going concern qualification as we have suffered losses since our inception. We have not attained profitable operations and are dependent upon obtaining financing to pursue any extensive acquisitions and activities. For these reasons, our auditors stated in their report on our audited financial statements that they have substantial doubt that we will be able to continue as a going concern without further financing.

Limited Operating History; Need for Additional Capital

There is no historical financial information about us upon which to base an evaluation of our performance. We are a development stage company and have not generated any revenues from operations to fully implement our business plan. We cannot guarantee we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources, and competition from larger organizations. We will require equity and/or debt financing to provide for the capital required to implement our plans. We will require additional funds to operate for the next year.

We have no assurance that future financing will be available to us on acceptable terms. If financing is not available on satisfactory terms, we may be unable to continue, develop or expand our operations.






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