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 9529 36
Cash and cash equivalents 9529 36
Receivables    6 
Inventory, net of allowances, customer advances and progress billings 6161   
Inventory 6161   
Prepaid expense   213522
Intangible current assets  69   
Other undisclosed current assets  27   
Total current assets: 69162514158
Noncurrent Assets
Operating lease, right-of-use asset  47
Property, plant and equipment 216193112
Intangible assets, net (including goodwill) 148    
Intangible assets, net (excluding goodwill) 148    
Other undisclosed noncurrent assets (128)(1)   
Total noncurrent assets: 237239112
Other undisclosed assets 5691   
TOTAL ASSETS: 362491524260
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including: 300211765759752
Accounts payable 254245264283339
Employee-related liabilities 501501501476413
Interest and dividends payable  489   
Other undisclosed accounts payable and accrued liabilities (455)(1,024)   
Debt 49953611660178
Due to related parties 11512525212539
Disposal group, including discontinued operation 8484848484
Other undisclosed current liabilities 2,1422,405501396317
Total current liabilities: 3,1403,3601,7191,4241,370
Noncurrent Liabilities
Total liabilities: 3,1403,3601,7191,4241,370
Stockholders' equity
Stockholders' equity attributable to parent, including: (2,778)(2,869)(1,667)(1,382)(1,310)
Preferred stock 00000
Common stock 1,25335212120
Additional paid in capital 29,79029,78129,33529,17628,410
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: 362491524260

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 44  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   94262 
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.

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