SOMERVILLE, N.J, June 22, 2022 — McapMediaWire –– Global Fiber Technologies, Inc., (OTC PINK: GFTX) ir.globalfibertechnologies.com has secured its first round of inventory financing that will allow its Authentic Heroes subsidiary to create t250,000 vinyl records to meet initial demand for its music in several brick and mortar stores.
Chris Giordano President and Chairman of Global Fiber Technologies, Inc. stated; “Our initial march into the world of music entertainment has been met with incredible enthusiasm. Brick and mortar stores have shown very strong interest in our portfolio of music. Closing the first round of inventory financing has now given us the ability to start taking “purchase orders” from both mass merchandisers and specialty retail stores.
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 a 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 to was essential. The ability to distribute vinyl records into major retailers is a potential home run for us which could produce millions of dollars in sales in 2022 and beyond.
We are in the process of closing a second round of inventory financing in the coming weeks which will allow us to double our vinyl inventory for the what the company feels will be very strong demand for our initial release of music sold under the Label “Old is Gold”.
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.
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