IRVINE, Calif., Dec. 17, 2015 (GLOBE NEWSWIRE) -- Global Future City Holding Inc. (OTCQB:FTCY) (the “Company”) announced that it will commence testing software which has been under development for the last 90 days to deploy and manage the multi-level marketing program to be utilized by FTCY’s wholly owned subsidiary GX-Life Global, Inc. GX-Life Global is a multi-level marketing company (“MLM”) 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.
Ning Liu, CEO and President of FTCY stated, “The roll out of our consumer products marketing program, coupled with our proprietary advanced software which will manage the marketing program, provides real time monitoring of marketing activities and sales levels. We believe that this will provide a “user-friendly” environment for our MLM participants to quickly and easily understand their compensation and down line activity. Our software is based upon the I-Matrix MLM management system which has managed many of the largest MLM programs in the world. It is our goal to be fully operational no later than January 1, 2016, selling our consumer products through what we believe will be a quickly growing MLM platform. This program will eventually also include G-Coin, a digital asset which will be used to provide further sales incentives for our MLM participants, although G-Coin presently remains under development at this time.”
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.