IRVINE, CA / CRWEPRESSRELEASE / August 26, 2015 / Global Future City Holding, Inc. (OTCMKTS:FTCY) announced a change in its future business plans today. FTCY has previously focused upon integrating the crypto-asset, E-Gold (“EGD”), into its business plan by requesting a no-action position by the Securities Exchange Commission. FTCY’s management has not received any response, and this, coupled with the difficulty in securing financial reporting conclusions associated with crypto-assets, has led management to elect to rescind the previous contribution of EGD and to focus upon the acquisition of GX-Life Global.
GX-Life Global has developed a robust, scalable platform to support multi-level marketing opportunities throughout the world. This platform, coupled with its complement of over 25 consumer products to initially be marketed through the multi-level marketing platform is intended to replace FTCY’s previous interest in EGD. FTCY is presently considering the role that crypto-assets may play in its new business plan and anticipates incorporating such a plan; however, the plan would likely include utilizing a registered trading crypto-asset currency other than EGD.
Ning Liu, CEO & President of FTCY remarked, “while we are frustrated with the uncertainty associated with the new introduction of crypto-assets into the world economy, we believe that our shift in focus from EGD to our new plans provide greater certainty and near-term financial benefits to FTCY.” In the meantime, FTCY will continue to focus on implementing its EB-5 immigrant investor program for foreign investors who are interested in acquiring lawful permanent residence in the United States. As a result of the recent acquisition of a designated EB-5 regional center approved by the USCIS (“EB-5 Subsidiary”), FTCY intends to focus its initial efforts on acquiring qualified investment projects that are aligned with the recently acquired EB-5 Subsidiary.
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 MLM program with a potential registered digital currency.
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.
Global Future City Holding, Inc.
Michael R Dunn
Office: (949) 582-5933
SOURCE: Global Future City Holding, Inc.