Somerset, NJ, April 20, 2020 (GLOBE NEWSWIRE) -- Authentic Heroes, Inc.,www.authenticheroes.com a subsidiary of Global Fiber Technologies, Inc ( OTC PINK: GFTX) www.globalfibertechnologies.com over the last several weeks has decided to pivot and augment its business model to address the present and future needs of both the health care and first responder market for Personal Protective Equipment.
“Given the seriousness of the Covid-19 pandemic and the possibility of another outbreak in the future, we are shifting a meaningful portion of our raw material inventory to address the current and future needs for mitigating the contraction of Covid-19 and other serious viral and bacterial diseases”, stated Chris Giordano Global’s President and Chairman.
The marketplace for personal protective products will remain robust for years to come since the pandemic we face now will have residual effects over the long term. The mandate to wear masks in public settings that some states are making now are an indication how serious they are looking to mitigate the spreading of infectious disease and this is setting the stage for the consistent needs for these products well into the foreseeable future .We are not here for the short term. After careful consideration we expect the market for PPE to represent a substantial portion of our business model
We already have the expertise and available resources in fiber, fabrics and textiles. We are now have created a separate division under the Authentic Heroes brand to address the current and future needs of the people on the front line in the war on the Covid-19 pandemic and any future challenges that may come their way.
Through our normal course of business of rejuvenating fiber from uniforms and other textile products and making commemorative jerseys, t-shirts and hoodies , we have developed an inventory of fibers and fabrics. Our fiber stockpile has grown dramatically during the "test phase" of working on development contracts with a few large US based companies at the ECOTEK360 division as well. At this moment we currently have on hand enough fiber to manufacture millions of masks. As part of our commitment to the medical community and front line service providers, Authentic Heroes will be donating 5% to a 501(c)(3)" charity of choice of our clients on orders placed in order to further facilitate our committment to this invaluable group of authentic heroes.
We are currently in discussions with both single and larger hospital care groups to help them fill their current and future need for personal protective equipment and expect to continue developing these relationships for both their current and future needs in fighting their battle on the front line.
Paul Serbiak CEO of Global stated, “Rather than turning all of our rejuvenated material into Polos, T- shirts, aprons and totes we feel it is important that we use our current inventory of raw material as well other sources of fabric for what could contribute now or in the future to keeping people safe during this outbreak period or in the event of another outbreak down the road.
This is not a shift away from our original business model but more of an augmentation of our current business model. The company is finalizing a design for a personal protective mask that is comprised of a reusable, washable lined mask and replaceable, disposable filter inserts. The entire mask is being designed to provide 95% filtration of virus sized particles. Hospitals have expressed interest in the design which is effective yet economical, due to the crossover of both reusable and disposable features. The company estimates that the cost per use is about 50% less than that of typical disposable surgical masks.
Our go to market approach is to first launch the reusable mask to get to market quickly. That mask will have the insert pocket sewn in so that our early customers can obtain filters once we produce them the very near future. Our second-generation product which is the combination of the reusable, washable mask and the disposable filter inserts will follow to market quickly after. The company plans to register for NIOSH and FDA approval of the mask so that we can ultimately upgrade the labeling of our product claims.
In addition to the obvious immediate demand for PPE, the company has learned that the US government has instituted a program for buying excess mask inventory which further bolsters the case for the company to enter a market that was unforeseen until now. Now we are looking into shifting our end products mix with a careful, but very optimistic eye.
We will keep you apprised of our progress on the PPE front as well as the progress we make with our other two subsidiaries. We are now hitting the milestones necessary that will help us transition us from a “pre-revenue stage” company to a commercial enterprise.”