GLOBAL FUTURE CITY HOLDING INC., formerly FITT Highway Products, Inc. (the “Company”), is a Nevada corporation publicly traded on the OTCQB marketplace under the ticker symbol “FTCY.”
Our Company was incorporated in the State of Nevada on October 12, 2000 under the name Cogen Systems, Inc. We changed our name to Snocone Systems, Inc. on December 6, 2001. On April 1, 2005, Snocone Systems, Inc. and its wholly-owned subsidiary, WYD Acquisition Corp., a California corporation (the “Merger Sub”), merged with Who’s Your Daddy, Inc. (“WYD”), an unrelated, privately held California corporation, whereby the Merger Sub merged with and into WYD. After the merger, WYD continued its corporate existence as a direct, wholly-owned subsidiary of Snocone Systems, Inc. under the laws of the State of California. On April 13, 2005, the Company changed its name to Who’s Your Daddy, Inc. and, effective June 1, 2010, the Company changed its name to FITT Highway Products, Inc. Effective October 29, 2013, the Company merged with F.I.T.T. Energy Products, Inc. (“FITT”) whereby FITT merged into the Company, with the Company being the surviving entity. Effective October 29, 2014 the name of our Company was changed to Global Future City Holding Inc. and our trading symbol changed from “FHWY” to “FTCY.”
On April 17, 2015, the Company and Sky Rover Holdings, Ltd. (“Sky Rover”), a corporation formed under the laws of the Republic of Seychelles, completed the closing of a Stock Purchase Agreement (the “SPA”) whereby certain unaffiliated parties that contributed cash, E-Gold coins, or other consideration to complete the SPA (collectively, the “Acquiring Shareholders”) acquired approximately 87.3% of the outstanding shares of stock of the Company in exchange for $400,000 in cash and the contribution of 4,000,000 E-Gold crypto-currencies (“EGD”). Additionally, Sky Rover, through its officer Mr. Lei Pei, provided the initial down payment for purchasing 100% of the membership interest of Power dyne Regional Center LLC, a designated EB-5 regional center approved by the USCIS, for the total purchase price of $250,000. In connection with the closing of the SPA, former CEO Mr. Lei Pei purchased 6,000,000 newly-issued shares of common stock of the Company for $3,000,000 in cash in a separate transaction that closed on March 30, 2015, which was meant to provide working capital for the Company’s anticipated expansion programs. On August 17, 2015, Mr. Pei, resigned from the Company as its Chief Executive Officer, Chief Financial Officer and Chairman and sold the 6,000,000 shares he owned in the Company in a private transaction.
On October 2, 2015, the Company, via its wholly-owned subsidiary Global Modern Enterprise Limited (“EGD Subsidiary”), a Hong Kong entity, entered into a Share Exchange Agreement with GX-Life Global, Inc. (“GX-Life Global”), a Nevada corporation, whereby the Company spun-off 100% of its ownership interests in the EGD Subsidiary and 4,000,000 EGD in exchange for 100% of the outstanding common stock of GX-Life Global. In a related transaction, on October 2, 2015, the former shareholders of GX-Life Global sold all of their interests in the EGD Subsidiary to the Acquiring Shareholders in the Sky Rover SPA in exchange for 21,280,000 shares of the Company previously acquired in the Sky Rover SPA.
The Company is currently focused on selling premium products and services as well as implementing an EB-5 immigrant investor program. As a result of recent transactions with GX-Life Global, Inc. (“GX-Life Global”) and the acquisition of a designated EB-5 regional center approved by the U.S. Citizen and Immigration Service (“EB-5 Subsidiary”), we intend to expand our operations into several new areas. We are focusing on expanding the product categories of GX-Life Global and acquiring real estate projects that will fit the purchase requirements of the acquired EB-5 Subsidiary.