IRVINE, Calif., Nov. 11, 2015 (GLOBE NEWSWIRE) -- Global Future City Holding Inc. (OTCQB:FTCY) (the "Company") confirmed today that its strategic partner, Great Coin, Inc., has filed a registration statement for the registration of "G-Coins", a digital security to be utilized by the Company's wholly-owned subsidiary, GX-Life Global, Inc., in its multi-level marketing and retail business operations.
Great Coin filed a Form 1-A Registration Statement with the Securities and Exchange Commission under the new Regulation A of the Securities Act of 1933 known commonly as "Regulation A+" (the "Registration Statement") on November 10, 2015 for the initial registration of up to 20,000,000 G-Coins. GX-Life Global serves as a selling securityholder under the Registration Statement for the resale of 5,000,000 G-Coins it acquired from Great Coin pursuant to a private placement. The initial offering price of the G-Coins will be between a range of $0.50 and $2.50 per coin to be determined by Great Coin's Board of Directors following the effectiveness of the Registration Statement.
The G-Coin is an open source digital security that functions as a store of value and a medium of exchange. G-Coins will be created with secure, 256-bit encryption and will be freely tradable on an online trading platform. The price of a G-Coin, once on the trading platform, will be determined by market forces through trading activity. As a digital security, G-Coin will be offered as an uncertificated security, the ownership and transfer of which are recorded on an encrypted, secured distributed ledger system using technology similar to the distributed ledger technology used for trading digital currencies.
GX-Life Global intends to distribute the G-Coins it acquired to members of the GX-Life Global community as loyalty points for the members' participation in the GX-Life Global community. Members of GX-Life Global will be able to redeem their status points, reward points, and status reward points for G-Coin at 100 percent of their points' dollar value. Each member of GX-Life Global will be issued a GX-Life Global-branded debit card that holds both redeemed cash and G-Coin. Holders of G-Coin will be able to use their G-Coins to purchase products offered by GX-Life Global or sell them on the online trading platform for cash.
Ning Liu, CEO and President of the Company commented, "We feel that the integration of the G-Coin digital security into GX-Life's membership compensation plan will set us apart from other multi-level marketing businesses. The added incentive of a digital security freely-tradable on an online exchange with state of the art verification and clearance technology coupled with the quality of products sold by GX-Life Global all reaching a worldwide audience presents a compelling snapshot of our future business plans."
The Registration Statement relating to the registration of the G-Coins has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the effectiveness of the Registration Statement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification of these securities under the securities laws of any such state or jurisdiction.
About Great Coin, Inc.
Great Coin, Inc., a Nevada corporation, is a technology company in the process of developing "Great Coin" or "G-Coin" which is an open source digital security that functions as a store of value and a medium of exchange. G-Coins will be freely tradable on an online trading platform, and the price of a G-Coin once on the trading platform will be determined by market forces through trading activity. Great Coin plans to freely sell the G-Coins directly and via GX-Life Global pursuant to a registration statement as a "digital security." As a digital security, G-Coin will be offered as an uncertificated security, the ownership and transfer of which are recorded on an encrypted, secured distributed ledger system using technology similar to the distributed ledger technology used for trading digital currencies.
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.