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. The Company name was changed 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 and into WYD, an unrelated, privately held California corporation. 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 WYD, Inc. and, five years later, effective June 1, 2010, the Company changed its name to FITT Highway Products, Inc. (“FITT”). FITT merged into the Company on October 29, 2013, 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 connection with the closing of the SPA, former CEO, CFO and Chairman of Sky Rover, 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 growth. On August 17, 2015, Mr. Pei, resigned from the Company as its Chief Executive Officer, Chief Financial Officer and Chairman and sold the 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. 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 on October 2, 2015.
The company is currently focusing on international sales of premium products through GX-Life Global, Inc., our subsidiary.