IRVINE, Calif., Nov. 9, 2015 (GLOBE NEWSWIRE) -- Global Future City Holding Inc. (OTCQB:FTCY) (the "Company") announced that it will begin selling securities under its effective Form S-1 Registration Statement ("S-1") following the California Department of Business Oversight's issuance of a formal order qualifying the Company's public offering of securities for sale within California on November 4, 2015. This approval follows New York's formal approval on October 6, 2015, and the effectiveness of Company's Post-Effective Amendment to the S-1 with the Securities and Exchange Commission as of October 19, 2015. The S-1 registers 10 million shares of the Company's common stock for public sale.
The Company also announced that operations for the Company's wholly-owned subsidiary, GX-Life Global, Inc. have commenced. GX-Life Global is a multi-level marketing company offering a diverse line of products presently in the following categories: beauty, energy, nutrition, and tea, as well as the sale of all-inclusive travel packages, plastic surgery medical tourism packages and discounted fine art.
Membership in GX-Life Global's multi-level marketing program incorporates status and reward point features which can be redeemed in cash or digital securities built on blockchain technology (similar to the Bit-Coin platform) known as "G-Coins" or can be used to purchase products offered by GX-Life Global. GX-Life Global has acquired 5,000,000 G-Coins in a private transaction for resale as a selling securityholder in a Regulation A+ registration statement to be filed by Great Coin, Inc., a Nevada corporation, the issuer of the G-Coins. The Company anticipates that Great Coin's registration statement will be filed with the Securities and Exchange Commission later this week. Once registered, GX-Life Global plans to deploy the G-Coins within the multi-level marketing program as status and reward points which will be convertible into cash.
Ning Liu, CEO and President of FTCY stated, "We are extremely pleased with the progress of the business development of our wholly-owned subsidiary, GX-Life Global, and the intriguing prospect of utilizing digital securities to facilitate its multi-level marketing program. We believe strongly that block chain technology is the future of the investment and finance world and are excited to integrate such cutting-edge technology into our business plans."
The Company has also recently re-launched its corporate website at www.gf.city and encourages all investors and shareholders to visit the website to stay up to date on the Company's developments.
About GX-Life Global, Inc.
GX-Life Global is in the process of developing a robust, scalable platform to support multi-level marketing ("MLM") opportunities throughout the world. The state of the art platform is intended to replace the Company's previous interest in EGD. GX-Life Global plans to replace EGD with "G-Coins" which are an open source digital security that functions as a store of value and a medium of exchange. These coins are being registered by Great Coin, Inc., a Nevada corporation. GX-Life Global plans to deploy the G-Coins it acquires from Great Coin by distributing them to members of their MLM program community as loyalty points for the members' participation in the MLM program. Members of GX-Life Global will be able to redeem their status points, reward points, and status reward points for G-Coin at 100% of their points' dollar value. Each member of the MLM program will be issued a GX-Life Global-branded debit card and a separate wallet that holds G-Coins. Additionally, holders of G-Coin will be able to use their G-Coins to purchase products offered by GX-Life Global.
About Global Future City Holding Inc.
Global Future City Holding Inc. is a holding company focused on implementing an EB-5 immigrant investor program for foreign investors who are interested in acquiring lawful permanent residence in the United States, and the marketing and deployment of its MLM loyalty-based retail program. The Company plans to focus its initial efforts on acquiring qualified investment projects that are aligned with the recently acquired EB-5 Regional Center and launching the digital security-based MLM program. Additional information on the Company may be viewed at http://www.gf.city.
Information about Forward-Looking Statements
This release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: the Company pursuing digital currency, which could have fluctuations in demand and pricing, the introduction and impact of new competitive products or digital currency, the Company's ability to acquire and maintain customer strategic business relationships in the MLM space, growth in targeted markets, and other information that may be detailed from time-to-time in the Company's filings with the United States Securities and Exchange Commission. For a more detailed description of the risk factors and uncertainties affecting the Company, please refer to the Company's recent Securities and Exchange Commission filings, which are available at www.sec.gov . The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.