Global Fiber Technologies, Inc. (GFTX) financial statements (2022 and earlier)
Company profile
| Business Address |
50 DIVISION STREET SUITE 501 SOMERVILLE, NJ 08876 |
| State of Incorp. | NV |
| Fiscal Year End | December 31 |
| SIC | 513 - Apparel, Piece Goods, And Notions (benchmarking) |
| More info | Complete financial analysis Financial benchmarking |
Balance sheet (Statement of financial position) ($ in thousands)
| 9/30/2021 TTM | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | |||
|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||
| Current Assets | ||||||||
| Cash, cash equivalents, and short-term investments | 9 | 5 | 29 | 36 | ||||
| Cash and cash equivalents | 9 | 5 | 29 | 36 | ||||
| Receivables | 6 | |||||||
| Inventory, net of allowances, customer advances and progress billings | 61 | 61 | ||||||
| Inventory | 61 | 61 | ||||||
| Prepaid expense | 21 | 35 | 22 | |||||
| Intangible current assets | 69 | |||||||
| Other undisclosed current assets | 27 | |||||||
| Total current assets: | 69 | 162 | 51 | 41 | 58 | |||
| Noncurrent Assets | ||||||||
| Operating lease, right-of-use asset | 47 | ✕ | ✕ | ✕ | ||||
| Property, plant and equipment | 216 | 193 | 1 | 1 | 2 | |||
| Intangible assets, net (including goodwill) | 148 | |||||||
| Intangible assets, net (excluding goodwill) | 148 | |||||||
| Other undisclosed noncurrent assets | (128) | (1) | ||||||
| Total noncurrent assets: | 237 | 239 | 1 | 1 | 2 | |||
| Other undisclosed assets | 56 | 91 | ||||||
| TOTAL ASSETS: | 362 | 491 | 52 | 42 | 60 | |||
| LIABILITIES AND EQUITY | ||||||||
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts payable and accrued liabilities, including: | 300 | 211 | 765 | 759 | 752 | |||
| Accounts payable | 254 | 245 | 264 | 283 | 339 | |||
| Employee-related liabilities | 501 | 501 | 501 | 476 | 413 | |||
| Interest and dividends payable | 489 | |||||||
| Other undisclosed accounts payable and accrued liabilities | (455) | (1,024) | ||||||
| Debt | 499 | 536 | 116 | 60 | 178 | |||
| Due to related parties | 115 | 125 | 252 | 125 | 39 | |||
| Disposal group, including discontinued operation | 84 | 84 | 84 | 84 | 84 | |||
| Other undisclosed current liabilities | 2,142 | 2,405 | 501 | 396 | 317 | |||
| Total current liabilities: | 3,140 | 3,360 | 1,719 | 1,424 | 1,370 | |||
| Noncurrent Liabilities | ||||||||
| Total liabilities: | 3,140 | 3,360 | 1,719 | 1,424 | 1,370 | |||
| Stockholders' equity | ||||||||
| Stockholders' equity attributable to parent, including: | (2,778) | (2,869) | (1,667) | (1,382) | (1,310) | |||
| Preferred stock | 0 | 0 | 0 | 0 | 0 | |||
| Common stock | 1,253 | 35 | 21 | 21 | 20 | |||
| Additional paid in capital | 29,790 | 29,781 | 29,335 | 29,176 | 28,410 | |||
| Accumulated deficit | (33,821) | (32,685) | (31,023) | (30,578) | (29,731) | |||
| Other undisclosed stockholders' equity attributable to parent | (10) | |||||||
| Stockholders' equity attributable to noncontrolling interest | (1) | |||||||
| Total stockholders' equity: | (2,778) | (2,870) | (1,667) | (1,382) | (1,310) | |||
| Other undisclosed liabilities and equity | 1 | |||||||
| TOTAL LIABILITIES AND EQUITY: | 362 | 491 | 52 | 42 | 60 | |||
Income statement (P&L) ($ in thousands)
| 9/30/2021 TTM | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | ||
|---|---|---|---|---|---|---|---|
| Revenues | 4 | 4 | 19 | ||||
| Cost of revenue | (27) | ||||||
| Gross profit: | (23) | 4 | 19 | ||||
| Operating expenses | (343) | (668) | (338) | (795) | (1,275) | ||
| Operating loss: | (366) | (664) | (338) | (795) | (1,256) | ||
| Interest and debt expense | (91) | (618) | (93) | (37) | (190) | ||
| Loss from continuing operations before equity method investments, income taxes: | (457) | (1,282) | (431) | (833) | (1,446) | ||
| Other undisclosed loss from continuing operations before income taxes | (9) | ||||||
| Loss from continuing operations before income taxes: | (457) | (1,282) | (431) | (833) | (1,455) | ||
| Income tax benefit | 94 | 262 | |||||
| Loss from continuing operations: | (457) | (1,282) | (337) | (571) | (1,455) | ||
| Income from discontinued operations | 636 | ||||||
| Net loss: | (457) | (1,282) | (337) | (571) | (819) | ||
| Other undisclosed net loss attributable to parent | (679) | (380) | (108) | (277) | |||
| Net loss available to common stockholders, diluted: | (1,136) | (1,662) | (445) | (847) | (819) | ||
Comprehensive Income ($ in thousands)
| 9/30/2021 TTM | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | ||
|---|---|---|---|---|---|---|---|
| Net loss: | (457) | (1,282) | (337) | (571) | (819) | ||
| Comprehensive loss, net of tax, attributable to parent: | (457) | (1,282) | (337) | (571) | (819) | ||
Statements sources
The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.