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Document and Entity Information
 12 Months Ended
Dec. 31, 2015
USD ($)
shares
Document And Entity Information  
Entity Registrant Name Global Fashion Technologies, Inc.
Entity Central Index Key 0001338929
Document Type 10-K
Document Period End Date Dec. 31, 2015
Amendment Flag false
Current Fiscal Year End Date --12-31
Is Entity a Well-known Seasoned Issuer? No
Is Entity a Voluntary Filer? No
Is Entity's Reporting Status Current? Yes
Entity Filer Category Smaller Reporting Company
Entity Public Float $ 5,863,751
Entity Common Stock, Shares Outstanding | shares 18,915,327
Document Fiscal Period Focus FY
Document Fiscal Year Focus 2015
Consolidated Balance Sheets - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Current assets:    
Cash $ 32,989 $ 755
Subscription receivable 10,000
Total current assets 42,989 $ 755
Property and equipment, net 2,252
Total assets 45,241 $ 755
Current liabilities:    
Accounts payable 51,108 98,471
Accrued compensation 108,000 340,000
Secured note and accrued interest payable $ 110,000 101,250
Secured note and accrued interest payable - related party 931,306
Unsecured notes and accrued interest payable 115,718
Convertible notes and accrued interest, $ 52,312 430,115
Advances from related party 115,633 87,131
Current liabilities from discontinued operations 870,045 870,045
Total current liabilities 1,307,098 2,974,036
Stockholders' deficit    
Preferred stock $0.001 par value, 1,000,000 shares authorized, 200,000 shares issued and outstanding 200 200
Common stock $0.001 par value, 400,000,000 shares authorized, 17,537,660 and 1,758,500 shares issued and outstanding, 1,377,667 and 371,832 shares issuable as of December 31,2015 and 2014, respectively 18,915 1,759
Additional paid-in capital $ 27,630,906 6,438,915
Stock subscriptions received 791,319
Accumulated deficit $ (28,911,878) (9,779,153)
Total Global Fashion Technologies, Inc. stockholders' deficit $ (1,261,857) (2,546,960)
Non-controlling interest (426,321)
Total stockholders' deficit $ (1,261,857) (2,973,281)
Total liabilities and stockholders' deficit $ 45,241 $ 755
Consolidated Balance Sheets (Parenthetical) - $ / shares
Dec. 31, 2015
Dec. 31, 2014
Statement of Financial Position [Abstract]    
Preferred Stock, par or stated value $ 0.001 $ 0.001
Preferred Stock, shares authorized 1,000,000 1,000,000
Preferred Stock, shares issued 200,000 200,000
Preferred Stock, shares outstanding 200,000 200,000
Common Stock, par or stated value $ 0.001 $ 0.001
Common Stock, shares authorized 400,000,000 400,000,000
Common Stock, shares issued 17,537,660 1,758,500
Common Stock, shares outstanding 17,537,660 1,758,500
Common Stock, shares issuable 1,377,667 371,832
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Income Statement [Abstract]    
Revenues $ 3,500 $ 193,248
Operating expenses:    
General and administrative 499,944 $ 1,185,495
Participation share compensation - related party 1,514,060
Consulting fees share expense 89,283
Stock based compensation 1,609,375
Failed acquisition costs paid in stock 996,245
Failed acquisition costs paid in stock - related party 923,520
Employee stock settlement costs 200,000
Debt extinguishment income (573,787)
Debt extinguishment costs - related party 11,250,034
Total operating expenses 16,508,674 $ 1,185,495
Loss from operations (16,505,174) (992,247)
Other expense    
Interest expense and financing costs 42,016 27,956
Total other expense 42,016 27,956
Loss from continuing operations before provision for income taxes $ (16,547,190) (1,020,203)
Provision for income taxes  
Loss from continuing operations $ (16,547,190) (1,020,203)
Loss from discontinued operations, net of tax (2,585,535) (870,045)
Net loss $ (19,132,725) (1,890,247)
Net loss attributable to non-controlling interests 426,321
Net loss attributable to Global Fashion Technologies, Inc. $ (19,132,725) $ (1,463,926)
Net loss per share from continuing operations $ (1.23) $ (0.91)
Net loss per share from discontinued operations (0.19) (0.40)
Net loss per share attributable to Global Fashion Technologies, Inc. $ (1.42) $ (1.31)
Weighted average common shares outstanding 13,463,110 1,121,283
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:    
Net loss $ (19,132,725) $ (1,463,926)
Net loss from discontinued operations, net of taxes and minority interest (2,585,535) (443,723)
Loss from continuing operations (16,547,190) $ (1,020,203)
Adjustments to reconcile net loss to net cash used in operating activities:    
Debt extinguishment income (573,787)
Debt extinguishment cost - related party 11,250,034
Depreciation 398
Failed acquisition costs paid in stock 968,750
Failed acquisition costs paid in stock - related party 923,520
Stock based compensation expense 1,609,375
Stock issued for services 89,283 $ 316,698
Employee stock settlement cost 200,000
Participation share compensation - related party $ 1,514,060
Changes in assets and liabilities:    
Inventory $ 45,000
Accounts payable and accrued expenses $ 57,637 23,414
Accrued interest 42,016 27,956
Net cash used in operating activities (465,904) $ (607,135)
Cash flows used in investing activities:    
Additions to property and equipment (2,650)
Total cash flows used in investing activities (2,650)
Cash flows from financing activities:    
Advances from related party 41,155
Proceeds from note payable 50,000 $ 200,000
Repayment of related party advance $ (26,654)
Stock subscriptions received $ 7,532
Proceeds from the sale of common stock $ 458,000 382,969
Total cash flows provided by financing activities 522,501 $ 590,501
Discontinued activities:    
Net cash used in operating activities $ (21,713)
Net cash used in investing activities
Net cash used in financing activities
Net cash flows used in discontinued activities $ (21,713)
Net increase (decrease) in cash 32,234 $ (16,634)
Cash at beginning of period 755 17,389
Cash at end of period $ 32,989 $ 755
Supplemental disclosure of cash flow information:    
Cash paid during the periods for: Interest
Cash paid during the periods for: Income taxes
Non-cash financing sources:    
Common stock issued for reduction of debt $ 931,306 $ 46,780
Consolidated Statements of Stockholders Deficit - USD ($)
Class B Preferred Stock
Common Stock
Additional Paid-In Capital
Accumulated Deficit
Subscription Receivable
Noncontrolling Interest
Total
Beginning Balance, Shares at Dec. 31, 2013 200,000 624,196          
Beginning Balance, Amount at Dec. 31, 2013 $ 200 $ 624 $ 5,535,484 $ (8,315,227) $ 849,519   $ (1,929,400)
Common stock issued to convert notes payable, shares   270,089          
Common stock issued to convert notes payable, amount   $ 270 146,430       146,700
Common stock issued for services, shares   114,538          
Common stock issued for services, amount   $ 115 316,583       316,698
Common stock issued for proceeds, shares   725,654          
Common stock issued for proceeds, amount   $ 726 382,242       382,968
Common stock issued for subscription, shares   24,023          
Common stock issued for subscription, amount   $ 24 58,176   (58,200)    
Net Loss       (1,463,926)   $ (426,321) (1,890,247)
Ending Balance, Shares at Dec. 31, 2014 200,000 1,758,500          
Ending Balance, Amount at Dec. 31, 2014 $ 200 $ 1,759 6,438,915 (9,779,153) 791,319 (426,321) (2,973,281)
Adjustments to correct 2014 shares issuable, shares   371,832          
Adjustments to correct 2014 shares issuable, amount   $ 372 (372)        
Common stock issued to convert notes payable, shares   6,062,154          
Common stock issued to convert notes payable, amount   $ 6,062 9,390,277       9,396,339
Common stock issued for participation expense - related party, shares   1,211,248          
Common stock issued for participation expense - related party, amount   $ 1,211 1,512,849       1,514,060
Common stock issued settlement of accrued compensation - related party, shares   2,500,000          
Common stock issued settlement of accrued compensation - related party, amount   $ 2,500 3,122,500       3,125,000
Common stock issued for sign-on bonus to two key employees, shares   1,000,000          
Common stock issued for sign-on bonus to two key employees, amount   $ 1,000 1,249,000       1,250,000
Common stock issued for services-BOD, shares   287,500          
Common stock issued for services-BOD, amount   $ 288 359,088       359,376
Common stock issued for services, shares   71,426          
Common stock issued for services, amount   $ 71 89,212       89,283
Common stock issued for cost of future private placement, shares   500,000          
Common stock issued for cost of future private placement, amount   $ 500 (500)        
Common stock issued related to failed acquisition, shares   755,000          
Common stock issued related to failed acquisition, amount   $ 775 967,975       968,750
Common stock issued related to failed acquisition-related party, shares   624,000          
Common stock issued related to failed acquisition-related party, amount   $ 624 922,896       923,520
Common stock issued related to discontinued operations, shares   1,710,000          
Common stock issued related to discontinued operations, amount   $ 1,710 2,135,790       2,137,500
Common stock issued for proceeds, shares   1,716,002          
Common stock issued for proceeds, amount   $ 1,715 442,285       444,000
Reclassfication of stock subscription received to issuable stock, shares   87,665          
Reclassfication of stock subscription received to issuable stock, amount   $ 88 791,231   $ (791,319)    
Common stock issued for subscription, shares   40,000          
Common stock issued for subscription, amount   $ 40 9,960       10,000
Stock issued for settlement cost with former CEO, shares   200,000          
Stock issued for settlement cost with former CEO, amount   $ 200 199,800       200,000
Minority interest reclassified to discontinued operations, amount           $ 426,321 426,321
Net Loss       (19,132,725)     (19,132,725)
Ending Balance, Shares at Dec. 31, 2015 200,000 18,915,327          
Ending Balance, Amount at Dec. 31, 2015 $ 200 $ 18,915 $ 27,630,906 $ (28,911,878) $ (1,261,857)
Description of Business
 12 Months Ended
Dec. 31, 2015
Description Of Business  
Description of Business
NOTE 1 – Description of Business
 
Global Fashion Technologies, Inc. ("the Company") was incorporated in Nevada on March 25, 2005.  As of December 31, 2015 and December 31, 2014, the Company had 400,000,000 shares of authorized common stock.

On August 4, 2014, the Board of Directors of the Company and the majority shareholders of the Company approved a reverse stock split of the outstanding shares of the Company's Common Stock, par value $0.001 per share (the "Common Stock"), at a ratio of 1-for-350 (the "Reverse Stock Split") effective at 5:00 p.m. EDT on August 15, 2014.  The Amendment was filed with the Secretary of State of Nevada on August 6, 2014, and took effect on August 15, 2014 at 5:00 p.m EDT.  As a result of the reverse stock split, every 350 shares of the Company's old authorized common stock was converted into one share of the Company's new authorized common stock.  All references to common stock shares have been adjusted to reflect the results of the reverse stock split.

Global Fashion Technologies, Inc. during the fourth quarter, 2013 became involved in the manufacturing and global distribution of ladies apparel.  Trident Merchant Group, Inc. is a wholly owned subsidiary which provided "value added" strategic advisory services. During the second quarter, 2014 the Company formed Leading Edge Fashions, LLC of which it controls 51%.  The non-controlling interest is recorded in the stockholders' deficit section. Effective December 31, 2014 the Company's Board of Directors determined it was in the best interest of the Company to discontinue the operations of Leading Edge Fashions, LLC.

The Company created a new limited liability company, Pure361, LLC ("Pure361") in May 2015 for the purpose of operating the portion of the Company's business that is involved with the collection, rejuvenation and manufacturing of garments and other accessories for the uniform marketplace that serves the hospitality, food service, medical, manufacturing, education, military, transportation and other commercial uniform industries.  The Company owns 51% of Pure361.  Pure361 entered into a license agreement with Pure System International Ltd. ("Pure") the minority owner of Pure 361, related to potential future operations, in which Pure361 was granted the exclusive license to use certain licensed intellectual property related to the manufacturing of uniforms from recyclable waste.

Going Concern
 
The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles, which contemplates continuation of the Company as a going concern. The Company has an accumulated deficit of $28,911,878 and $9,779,153 as of December 31, 2015 and 2014, respectively, that include losses of $19,132,725 and $1,890,248 for the years ended December 31, 2015 and 2014, respectively.  Consequently, the aforementioned items raise substantial doubt about the Company's ability to continue as a going concern.
 
The Company's ability to continue as a going concern is dependent upon its ability to repay or settle its current indebtedness, acquire an operating business and raise capital through equity and debt financing or other means on desirable terms. Subsequent to the 2015 year end, the Company issued 600,000 shares of common stock in settlement of $785,764 of liabilities from discontinued operations. If the Company is unable to obtain additional funds when they are required or if the funds cannot be obtained on favorable terms, management may be required to restructure the Company or cease operations. The financial statements do not include any adjustments that might result from the outcome of these uncertainties.
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2015
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies
NOTE 2 – Summary of Significant Accounting Policies

Principles of Consolidation
 
The accompanying consolidated financial statements include all of the accounts of the Company and its wholly owned subsidiary, Trident Merchant Group, Inc., Leading Edge Fashion, LLC which is 51% owned, and Pure361, LLC which is 51% owned.  All significant intercompany accounts and transactions have been eliminated. 

Reclassifications

Certain amounts in the prior period financial statements have been reclassified to conform to the current period presentation. These reclassifications had no effect on reported consolidated net (loss).

Cash and Cash Equivalents
 
Cash and cash equivalents include cash on hand and investments in money market funds. The Company considers all highly-liquid instruments with an original maturity of 90 days or less at the time of purchase to be cash equivalents.
   
Adjustments to reserves related to the net realizable value of inventories are primarily based on the market value of the Company's physical inventories, cycle counts and recent historical trends. The Company expects the amount of its reserves and related inventories to increase over time as it expands its store base and increases direct-to-consumer sales.
 
Equipment
 
Property and equipment are stated at cost. Costs of replacements and major improvements are capitalized, and maintenance and repairs are charged to operations as incurred. Depreciation expense is provided primarily by the straight-line method over the estimated useful lives of the assets, seven years.

Revenue Recognition
 
Revenue for the women's fashion division will be recognized at the point-of-sale for retail store sales, net of estimated customer returns. Revenue is recognized at the completion of a job or service for the consulting division. Revenue is presented on a net basis and does not include any tax assessed by a governmental or municipal authority. Payment for merchandise at stores and through the Company's direct-to-consumer channel will be tendered by cash, check, credit card, debit card or gift card. Therefore, the Company's need to collect outstanding accounts receivable for its retail and direct-to-consumer channel is negligible and mainly results from returned checks or unauthorized credit card transactions. The Company maintains an allowance for doubtful accounts for its consulting service accounts receivable, which management reviews on a regular basis and believes is sufficient to cover potential credit losses and billing adjustments. Deposits for consulting services are recognized as a sale upon completion of service.

The Company accounts for a gift card transaction by recording a liability at the time the gift card is issued to the customer in exchange for consideration from the customer. A liability is established and remains on the Company's books until the card is redeemed by the customer, at which time the Company records the redemption of the card for merchandise as a sale or when it is determined the likelihood of redemption is remote, based on historical redemption patterns. Revenues attributable to gift card liabilities relieved after the likelihood of redemption becomes remote are included in sales and are not material.
 
Sales Return Reserve
 
The Company records a reserve for estimated product returns where the sale has occurred during the period reported, but the return is likely to occur subsequent to the period reported and may otherwise be considered in-transit. The reserve for estimated in-transit product returns is based on the Company's most recent historical return trends. If the actual return rate or experience is materially higher than the Company's estimate, additional sales returns would be recorded in the future.
 
 Income Taxes
 
Income taxes are accounted for under the asset and liability method as stipulated by ASC 740 "Income Taxes." Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740, the effect on deferred tax assets and liabilities or a change in tax rate is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced to estimated amounts to be realized by the use of a valuation allowance. A valuation allowance is applied when in management's view it is more likely than not (50%) that such deferred tax will not be utilized.

The Company adopted certain provisions under ASC Topic 740, which provide interpretative guidance for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Effective with the Company's adoption of these provisions, interest related to the unrecognized tax benefits is recognized in the financial statements as a component of income taxes.

In the unlikely event that an uncertain tax position exists in which the Company could incur income taxes, the Company would evaluate whether there is a probability that the uncertain tax position taken would be sustained upon examination by the taxing authorities. Reserves for uncertain tax positions would be recorded if the Company determined it is probable that a position would not be sustained upon examination or if payment would have to be made to a taxing authority and the amount is reasonably estimated. As of December 31, 2015 and 2014, the Company does not believe it has any uncertain tax positions that would result in the Company having a liability to the taxing authorities. The Company's tax returns are subject to examination by the federal and state tax authorities for the years ended 2005 through 2014.
 
Impairment or Disposal of Long-Lived Assets:
 
ASC Topic 360 (formerly FASB issued Statement No. 144), "Accounting for the Impairment or Disposal of Long-Lived Assets" ("FAS 144"), clarifies the accounting for the impairment of long-lived assets and for long-lived assets to be disposed of, including the disposal of business segments and major lines of business.  Long-lived assets are reviewed when facts and circumstances indicate that the carrying value of the asset may not be recoverable.  When necessary, impaired assets are written down to their estimated fair value based on the best information available. No impairment was necessary as of December 31, 2015 and 2014.
Stock-based Compensation

We account for stock-based awards at fair value on the date of grant, and recognize compensation over the service-period that they are expected to vest. We estimate the fair value of stock options and stock purchase warrants using the Black-Scholes option pricing model. The estimated value of the portion of a stock-based award that is ultimately expected to vest, taking into consideration estimated forfeitures, is recognized as expense over the requisite service periods. The estimate of stock awards that will ultimately vest requires judgment, and to the extent that actual forfeitures differ from estimated forfeitures, such differences are accounted for as a cumulative adjustment to compensation expenses and recorded in the period that estimates are revised.

Recently Issued Accounting Pronouncements

Changes to accounting principles generally accepted in the United States of America (U.S. GAAP) are established by the Financial Accounting Standards Board (FASB) in the form of accounting standards updates (ASU's) to the FASB's Accounting Standards Codification. The Company considers the applicability and impact of all new or revised ASU's.

In June 2014, the FASB issued Accounting Standards Update No. 2014-12, "Compensation - Stock Compensation (Topic 718): Accounting for Share-Based Payments when the terms of an award provide that a performance target could be achieved after the requisite service period," ("ASU 2014-12"). Current U.S. GAAP does not contain explicit guidance on whether to treat a performance target that could be achieved after the requisite service period as a performance condition that affects vesting or as a nonvesting condition that affects the grant-date fair value of an award. The new guidance requires that a performance target that affects vesting and that could be achieved after the requisite service period is treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. The updated guidance will be effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period. Early adoption is permitted. The Company is in the process of evaluating this guidance; however, it is not expected to have a material effect on the consolidated financial statements upon adoption.

In April 2015, the FASB issued ASU 2015-03, "Simplifying the Presentation of Debt Issuance Costs," ("ASU 2015-03"). ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for the first interim period for fiscal years beginning after December 15, 2015. The adoption of this ASU will not have any impact on the Company's consolidated financial position, liquidity, or results of operations.

In July 2015, the FASB issued ASU 2015-11, "Simplifying the Measurement of Inventory." Under this ASU, inventory will be measured at the "lower of cost and net realizable value" and options that currently exist for "market value" will be eliminated. The ASU defines net realizable value as the "estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation." No other changes were made to the current guidance on inventory measurement. ASU 2015-11 is effective for interim and annual periods beginning after December 15, 2016. Early application is permitted and should be applied prospectively. Management is evaluating the provisions of this statement, including which period to adopt, and has not determined what impact the adoption of ASU 2015-11 will have on the Company's financial position or results of operations.

In September 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2015-16, "Simplifying the Accounting for Measurement-Period Adjustments." The new guidance eliminates the requirement to retrospectively account for adjustments to provisional amounts recognized in a business combination. Under the ASU, the adjustments to the provisional amounts will be recognized in the reporting period in which the adjustment amounts are determined. The updated guidance will be effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. Early adoption is permitted, and the ASU should be applied prospectively. The Company is in process of evaluating this guidance.

In November 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No.2015-17, "Balance Sheet Classification of Deferred Taxes." The new guidance eliminates the requirement to separate deferred income tax liabilities and assets into current and noncurrent amounts. The amendments will require that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The updated guidance will be effective for fiscal years beginning after December 15, 2016, including interim periods within those annual periods. Early adoption is permitted, and the amendments may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. The Company is in the process of evaluating this guidance.
 
There are no other new accounting pronouncements adopted or enacted during the year ended December 31, 2015 that had, or are expected to have, a material impact on our financial statements.
 

Use of Accounting Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.

Fair Value

FASB ASC 820, Fair Value Measurements and Disclosures ("ASC 820") establishes a framework for all fair value measurements and expands disclosures related to fair value measurement and developments. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

ASC 820 requires that assets and liabilities measured at fair value are classified and disclosed in one of the following three categories:

Level 1—Quoted market prices for identical assets or liabilities in active markets or observable inputs;
Level 2—Significant other observable inputs that can be corroborated by observable market data; and
Level 3—Significant unobservable inputs that cannot be corroborated by observable market data.

The carrying amounts of cash, accounts receivable, accrued compensation, accounts payable and other liabilities, accrued interest payable, and short-term portion of notes payable approximate fair value because of the short-term nature of these items.
 
Concentration of Credit Risk
 
The carrying value of short-term financial instruments, including cash, restricted cash, trade accounts receivable, accounts payable, accrued expenses and short-term debt, approximates the fair value of these instruments. These financial instruments generally expose the Company to limited credit risk and have no stated maturities or have short-term maturities and carry interest rates that approximate market.  The Company maintains cash balances at financial institutions that are insured by the FDIC.  At December 31, 2015 or 2014 the Company had no amounts in excess of the FDIC limit.
  
Earnings (loss) Per Share
 
In accordance with SFAS No. 128, "Earnings Per Share," the basic loss per common share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding. Diluted loss per common share is computed similar to basic loss per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive.
Capital Stock
 12 Months Ended
Dec. 31, 2015
Equity [Abstract]  
Capital Stock
NOTE 3 – Capital Stock
 
Preferred Stock
 
The Company has designated a "Class B Convertible Preferred Stock" (the "Class B Preferred").  The number of authorized shares totals 1,000,000 and the par value is $.001 per share.  The Class B Preferred shareholders vote together with the common stock as a single class.  The holders of Class B Preferred are entitled to receive all notices relating to voting as are required to be given to the holders of the Common Stock.  The holders of shares of Class B Preferred shall be entitled to 10,000 votes per share.  The Class B Preferred Stock will have the rights to liquidation as all classes of the Common Stock of the Company.  The Class B Preferred stockholders are entitled to receive dividends at the rate of 8% per annum, and are accrued daily.  The Class B Preferred Stock shall be redeemed by the
  
Corporation for 100% of the original purchase price plus the amount of cash dividends accrued on the earlier of 6 months from the date of issuance, or the date that the Corporation received its funding from any outside source in conjunction with a merger, reverse merger or any change of control.  In the event of any liquidation, dissolution or winding up of the Corporation, either voluntary or involuntary, the holders of the Class B Preferred Stock shall be entitled to receive, prior and in preference to any distribution of any assets of the Corporation to the holders of the Common Stock, the amount of $.035 per share plus any and all accrued but unpaid dividends.
 
During the fourth quarter, 2011, 200,000 shares of the Series B Preferred Stock were issued to a related party for reimbursement of $7,500 of legal and accounting fees paid on behalf of the Company.
 
Common Stock
 
As of December 31, 2015 and December 31, 2014, the Company had 17,537,660 and 1,758,500 shares of its $0.001 par value common stock issued and outstanding, respectively.   In addition, as of December 31, 2015 and 2014, the Company had 1,377,667 and 171,832 shares of common stock issuable, respectively. The common stock subscriptions outstanding at December 31, 2014 of $791,319 relating to 87,655 issuable shares had been converted as of December 31, 2014.  This amount has been reclassified to additional paid-in-capital as of December 31, 2015.

The Company along with two of its former subsidiaries entered into a settlement agreement with R.R. Donnelly & Sons Company ("Donnelly") on June 6, 2007.  The settlement agreement provided for the Company to issue a Secured Promissory Note to Donnelly in the principal amount of $601,048, with an interest rate of 9% per annum and required monthly payments of $43,577.  The loan was secured by a first security lien in all of the Company's assets.  The Company subsequently defaulted on the note and Donnelly obtained judgment against the Company in the amount of $601,048.  The note along with the judgment, was subsequently sold to a Director of the Company.  On March 31, 2013 the Company's Board of Directors along with the director, issued a "Moratorium on Accrued Interest" agreeing that interest would cease at March 31, 2013 and that all past due accrued interest would be added to the principal portion of the note.  On March 1, 2015 the principal and accrued interest in the amount of $931,306 was converted into 6,062,154 shares of common stock which was valued at $9,396,338.  The Company recorded $8,465,034 of debt extinguishment cost. The outstanding balance of the note at December 31, 2015 and 2014 was $0 and $931,306, respectively.

In April 2015, the Company issued 1,211,248 shares of common stock to a director as a participation fee for past services.  The common stock was valued at $1.25 per share for a total value of $ 1,514,060.

In April 2015, the Company agreed to issue 2,500,000 shares of common stock valued at $1.25 per share, amounting to $3,125,000, to the president of the Company and to the principal financial officer and director of the Company in full settlement of $340,000 of accrued salaries.  The Company recorded an extinguishment of debt cost–related party for $2,785,000.  300,000 shares of the total remain to be issued as of December 31, 2015.

In April 2015, the Company issued sign-on bonuses of 500,000 shares of common stock each to the chief operating officer of the Company and the chief technical officer of the Company.  The total value of the bonuses was $1,250,000 based on the trading price of the stock of, $1.25 per share, and is included in stock based compensation.

In April 2015, the Company issued 287,500 shares of its common stock to several board members in payment for their services.  The shares were valued at $359,375 based on the trading price of the shares, $1.25 per share, and were recorded as stock based compensation.
 
 In April 2015, the Company issued 71,426 shares of its common stock at $1.25 per share amounting to $89,283 for payment of consulting services.

In April 2015, the Company issued 500,000 shares of common stock relating to a Placement Agreement for services for a future private placement.  The shares were recorded at a cost of capital by recording $500 of par value and a reduction of additional paid-in-capital of $500.

In April 2015, the Company issued 1,399,000 shares of common stock valued at $1.25 per share and amounting to $1,892,270 in full settlement of various claims related to the Company's failed acquisitions.

In April 2015, the Company issued 1,710,000 shares of common stock valued at $1.25 per share and amounting to $2,137,500 in full settlement of all claims related to the Company's discontinued operations of Leading Edge Fashions, LLC.

In January through June of 2015, 766,000 shares of common stock were issued for $169,000 in cash.  40,000 of these shares were issued for $0.25 per share with the Company having a remaining outstanding subscription receivable for $10,000 at December 31, 2015.

The owner of the non-controlling interest of Leading Edge Fashions, LLC was unable to fund its share of the losses incurred in the fourth quarter of 2014. The minority interest of $426,322 at December 31, 2014 was therefore charged to discontinued operations in the year ended December 31, 2015.

On August 21, 2015, the Company entered into a separation agreement with a former executive of the Company, whereby the Company agreed to pay $37,500 cash and issued 200,000 shares of the Company's common stock valued at $1.00 per share and amounting to $200,000. The shares are subject to a lock-up/leak-out agreement.  The former employee is to receive one percent of any net profit of Pure 361 LLC (a limited liability company formed in the state of Delaware on May 18, 2015 in which the Company has a 51% ownership) for a period of five years beginning in the first profitable year.

In November and December 2015, the Company received $250,000 for the issuance of 990,002 shares of common stock.  The common stock was not issued, but was deemed issuable as of December 31, 2015.
Warrants

In August 2015, the Company issued an unsecured promissory note to an investor in the amount of $50,000, convertible to common stock at $1.00 per share.  The note bears an interest rate of 8% per annum and matured on August 8, 2016.  The note remains outstanding. The note was also issued with a warrant for this investor to purchase 25,000 shares of common stock at $1.50 for a period of two years.  The fair value of these warrants was approximately $3,909 as of December 31, 2015 and was calculated using the Black-Scholes-Merton model.

Stock Options

In April 2015, the Company and two members of executive management executed employment agreements which provided stock option awards for a minimum 250,000 shares of common stock each in conjunction with the schedule included with the employment agreement.  The stock option awards will be issued only when the Company reaches certain sales targets. All stock option awards earned by the executives shall have an exercise price equal to the fair market value of the common stock of GFTI at the close of market unless otherwise adjusted by the Board of Directors of GFTI at a later date.  The value of these options as of December 31, 2015 is $0 due to the extreme unlikelihood of the Company meeting its sales goals that trigger the issuances.
Notes Payable
 12 Months Ended
Dec. 31, 2015
Notes Payable  
Notes Payable
NOTE 4 – Notes Payable
 
Secured Note Payable

The Company and its former consolidated subsidiaries entered into a settlement agreement with R.R. Donnelly & Sons Company ("Donnelly") on June 6, 2007.  As part of the settlement, the Company issued to Donnelly a Secured Promissory Note in the principal sum of $601,048, with an interest rate of 9% per annum and a requirement for monthly payments of $43,577, and granted Donnelly a first lien security interest in all of the Company's assets.  The Company was unable to meet the monthly payments and Donnelly obtained judgment in the amount of $601,048.  This note was subsequently sold to a Director of the Company.  On March 31, 2013, the Company's Board of Directors, along with the Director's consent, issued a "Moratorium on Accrued Interest" stating that the interest accrual on this note would cease indefinitely at March 31, 2013 and that all past due accrued interest would be added to the principal portion of the note.  On March 1, 2015, the principal and accrued interest in the amount of $931,306 was converted into 6,062,154 shares of common stock which was valued at $9,396,338.  The Company recorded $8,465,034 of debt extinguishment cost. The balance of this note plus accrued interest totals $ 0 and $ 931,306 at December 31, 2015 and 2014, respectively.
 
On May 2, 2014 the Company issued a secured promissory note to an individual in the amount of $100,000 payable at 10% interest and due on June 2, 2014.  After the due date, this note accrued interest at a rate of 15% annually until paid.  The note was converted to 180,000 shares on June 1, 2014.  The accrued interest for this note is $417 at December 31, 2014.

On November 25, 2014, the Company issued a secured promissory note to an individual in the amount of $100,000 at 10% interest and due on April 1, 2015. The balance of this note plus accrued interest totals $110,000 and $101,833 at December 31, 2015 and 2014, respectively.  On April 1, 2016 the Company entered into a forbearance agreement.  The Company was granted an extension of the note through September 30, 2016 in consideration for 200,000 shares of common stock valued at $200,000 with interest accruing after March 29, 2016 at 12%.  The note is unpaid and in default after September 30, 2016.

Unsecured Notes Payable

The Company had an unsecured note payable in the original principal amount of $67,057.  This note was issued to a vendor on August 23, 2007.  The note accrued interest at the rate of 10% per annum and required monthly payments of $4,500 with final payment due on July 15, 2008.  The Company made no payments under this note and the note had been in default.  The statute of limitations for the holders of this note to initiate litigation has expired, and therefore the note and the related accrued interest totaling $123,672 was written off and recorded as income from debt extinguishment.  The balance of this note plus accrued interest totals $0 and $115,718 at December 31, 2015 and 2014, respectively.

Convertible Notes Payable

The Company issued an 8% unsecured convertible note payable in the amount of $250,000 in 2005.  The conversion feature had expired and the note was in default.  The statute of limitations for the holders of this note to initiate litigation expired, and therefore the note and its related accrued interest totaling $450,115 have been written off and recorded as income from debt extinguishment. The balance of the principal and interest is $0 and $430,115 as of December 31, 2015 and 2014, respectively.

In August 2015, the Company issued an unsecured promissory note to an investor in the amount of $50,000, convertible to common stock at $1.00 per share.  The note bears an interest rate of 8% per annum and matured on August 8, 2016.  The note was also issued with a warrant for this investor to purchase 25,000 shares of common stock at $1.50 for a period of two years.  The note remained outstanding at September 30, 2016.

During the year ended December 31, 2012 the Company and certain holders agreed to convert the notes payable and related accrued interest totaling $791,319 into 89,000 shares of the Company's common stock.  The above balance was reflected as stock subscriptions received but not issued as of December 31, 2014 and reclassified to additional paid in capital as of December 31, 2015, and still remain issuable. 
Income Taxes
 12 Months Ended
Dec. 31, 2015
Income Tax Disclosure [Abstract]  
Income Taxes
NOTE 5 – Income Taxes
 

The Company uses the liability method, whereby deferred taxes and liabilities are determined based on the expected future tax consequences of temporary differences between the carrying amounts of assets and liabilities for financial and income tax reporting purposes.  On December 31 2013 and 2012, the Company has no tax liability.  The net deferred tax asset generated by the loss carryforward has been fully reserved.  The cumulative net operating loss carry-forward is approximately $13,000,000 at December 31, 2015, and will expire in the years 2026 through 2035.

At December 31, 2015 and 2014, deferred tax assets consisted of the following:
 
            
             
   
2015
    
2014
  
             
Allowance for doubtful accounts
  
$
—
    
$
—
  
Accrued expenses
    
—
      
—
  
Current deferred tax asset
    
—
      
—
  
 
                
Intangible and fixed assets
    
—
      
—
  
NOL carryforward
    
4,525,000
      
3,500,000
  
Long-term deferred tax asset
    
4,525,000
      
3,500,000
  
 
                
Total deferred tax asset
    
4,525,000
      
3,500,000
  
Less valuation allowance
    
(4,525,000
)
    
(3,500,000
)
 
                
Net deferred tax asset
  
$
—
    
$
—
  
 

The benefit for income taxes differed from the amount computed using the U.S. federal income tax rate of 34% for December 31, 2015 and 2014 as follows:

 
  
2015
  
 
      
Income tax benefit (federal and state)
  
$
(6,468,000
)
Non-deductible items
    
5,443,000
  
State and other benefits included in valuation
    
—
  
Change in valuation allowance
    
1,025,000
  
Income tax benefit
  
$
—
  


The utilization of the carryforwards is dependent upon the Company's ability to generate sufficient taxable income during the carryforward period. In addition, utilization of these carryforwards may be limited due to ownership changes as defined in the Internal Revenue Code.
Luminx Holdings, Inc.
 12 Months Ended
Dec. 31, 2015
Business Combinations [Abstract]  
Luminx Holdings, Inc.
NOTE 6 – Luminx Holdings, Inc.
 
During the year ended December 31, 2011, the Company acquired a 15% ownership of Direct LED, Inc. (formerly LuminX, Inc.) in exchange for consulting services.  The Company has not assigned a value to the investment at December 31, 2015 and 2014 due to the lack of marketability of the minority interest and the company is still in its start-up.  Direct LED, Inc. filed its S-1 Registration Statement with the Securities and Exchange Commission on July 18, 2012 which became effective on January 23, 2013.
Operating Segments
 12 Months Ended
Dec. 31, 2015
Segment Reporting [Abstract]  
Operating Segments
NOTE 7 - Operating Segments
 
For the year ended December 31, 2015 the Company's revenues from continuing operations were $3,500 from consulting, all of which was from sources within the United States.
Discontinued Operations
 12 Months Ended
Dec. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
NOTE 8 – Discontinued Operations

During 2014, the Company's Leading Edge Fashions, LLC retail businesses, of which it owned 51%, was classified as discontinued operations.  Based on the Company's strategy to allocate resources to its businesses relative to their growth potential and those with the greater right to win in the marketplace, the Company determined that this business did not align with the Company's long-term growth plans.
 
As of December 31, 2015 and 2014, $870,045 of current liabilities from discontinued operations includes $785,764 of advances from trade creditors and $84,281 accounts payable.  The Company settled the amount owed to trade creditors on July 1, 2016 through the issuance of 600,000 shares of common stock.

The following table provides a summary of amounts included in discontinued operations:
 
  
Year Ended
December 31,
2015
    
Year Ended
December 31,
2014
  
 
            
Loss from discontinued operations before income taxes
  
$
(2,585,535
)
  
$
(870,045
)
Income tax expense
    
--
      
--
  
Loss from discontinued operations
    
(2,585,535
)
    
(870,045
)
Net gain on disposal(1)
    
--
      
--
  
Loss from discontinued operations, net of tax
  
$
(2,585,535
)
  
$
(870,045
)
 
                
Loss from discontinued operations attributable to Global  
  
$
(2,585,535
)
  
$
(443,723
)
Loss from discontinued operations attributable to minority interest  
  
$
--
    
$
(426,322
)
Related Party Transactions
 12 Months Ended
Dec. 31, 2015
Related Party Transactions [Abstract]  
Related Party Transactions
NOTE 9 – Related Party Transactions

The Company owed the President advances totaling $115,633 and $87,131 at December 31, 2015 and 2014, respectively.

In April 2015, the Company issued 2.2 million and deemed 300,000 issuable shares of the Company's common stock valued at $3,125,000 in consideration of the settlement of $340,000 of outstanding payroll owed to two officers of the Company.  This issuance resulted in $2,785,000 of debt extinguishment costs. 
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
NOTE 10 – Commitments and Contingencies
 
On March 15, 2015 the Company entered into a trademark license agreement with True Beauty, LLC which controls the trademark EMME.  EMME is a market pioneer and trusted voice of the "Full-Figured" market. Under this licensing agreement the Company will design, produce and market the EMME® Activewear Collection.  On April 13, 2016, the agreement was amended regarding the term and minimum royalties.  The Company paid $50,000 in April 2015 for royalty expense.


The additional minimum royalties are as follows:

Year
      
2016
  
$
100,000
  
2017
    
150,000
  
2018
    
250,000
  
2019
    
250,000
  
Total
  
$
750,000
  
 

The license agreement is renewable for five consecutive one year terms commencing on January 1, 2020 if the Company reaches seventy percent of its projected sales by September 30 of the previous year.

As of January 18, 2016, the Company is a party to one pending litigation matter entitled Randazzo LLC v. Avani Holdings LLC & Global Fashion Technologies, Inc. This litigation was initiated by the plaintiff in order to evict Avani Holdings LLC from its rented premises in California and to recover unpaid rent. The Company does not operate out of that premises and has never signed any leases or other documents with the plaintiff. Consequently, management believes there to be no legitimate cause of action against the Company. However, the Company is attempting to resolve the matter due to the relatively small amount in controversy. The unpaid rent being sought by the plaintiff is $26,595.

As of January 18, 2016, the Company has been named as a defendant in the matter of Patrick Kalashyan v. Avani Holdings, LLC & Global Fashion Technologies, Inc.  This litigation was initiated by the plaintiff to recover monies owed on a September 23, 2011 settlement agreement signed between the Plaintiff and Avani Holdings, LLC.  The Company is not party to this agreement and never completed purchase of Avani Holdings, LLC.  Consequently, management believes there is no legitimate cause of action against the Company.  The Company is vigorously defending its position in the lawsuit.  The amount being sought by the plaintiff is $150,000 plus interest.
Net Loss Per Share
 12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Net Loss Per Share
NOTE 11 – Net Loss Per Share

Potentially dilutive securities are excluded from the calculation of net loss per share when their effect would be anti-dilutive. For all periods presented in the consolidated financial statements, all potentially dilutive securities have been excluded from the diluted share calculations as they were anti-dilutive as a result of the net losses incurred for the respective periods. Accordingly, basic shares equal diluted shares for all periods presented.

Potentially dilutive securities were comprised of the following:


 
  
December 31,
  
 
  
2015
    
2014
  
Warrants
  
 
25,000
      
-
  
Options
    
-
      
-
  
Convertible notes payable, including accrued interest
    
-
      
-
  
Contingently issuable shares
    
-
      
-
  
 
    
25,000
      
-
  
Subsequent Events
 12 Months Ended
Dec. 31, 2015
Subsequent Events [Abstract]  
Subsequent Events
NOTE 12 – Subsequent Events
 
In 2016, the Company issued 192,500 shares of its common stock to the president of the Company which reduced his issuable shares to 107,500 related to the conversion of his accrued salary, 345,000 shares to third-parties for services rendered, 200,000 shares to a note holder in conjunction with the extension of the terms of a note, 50,000 shares to a director for his services, and 884,001 shares to five individuals for monies received from subscription agreements that were entered into with the Company in 2015.  There were also 106,001 shares of common stock deemed to be issuable for monies received from subscription agreements that were entered into with the Company in 2015.

In July through September 2016, the Company received $200,000 from its chief operating officer as an unsecured loan.  The Company also received $65,000 in September 2016 from the president of the Company as an advance.

The Company created a new wholly owned subsidiary, Progressive Fashions Inc. ("PFI") in February 2016 for the purpose of designing, producing and marketing the EMME® Activewear Collection.  The Company has had no operations to date.

Management has evaluated the impact of events occurring after December 31, 2015 up to the date of the filing of these interim unaudited condensed consolidated financial statements. These statements contain all necessary adjustments and disclosures resulting from that evaluation.
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2015
Accounting Policies [Abstract]  
Principles of Consolidation
Principles of Consolidation
 
The accompanying consolidated financial statements include all of the accounts of the Company and its wholly owned subsidiary, Trident Merchant Group, Inc., Leading Edge Fashion, LLC which is 51% owned, and Pure361, LLC which is 51% owned.  All significant intercompany accounts and transactions have been eliminated.
Reclassification
Reclassifications

Certain amounts in the prior period financial statements have been reclassified to conform to the current period presentation. These reclassifications had no effect on reported consolidated net (loss).
Cash and Cash Equivalents
Cash and Cash Equivalents
 
Cash and cash equivalents include cash on hand and investments in money market funds. The Company considers all highly-liquid instruments with an original maturity of 90 days or less at the time of purchase to be cash equivalents.
   
Adjustments to reserves related to the net realizable value of inventories are primarily based on the market value of the Company's physical inventories, cycle counts and recent historical trends. The Company expects the amount of its reserves and related inventories to increase over time as it expands its store base and increases direct-to-consumer sales.
Equipment
Equipment
 
Property and equipment are stated at cost. Costs of replacements and major improvements are capitalized, and maintenance and repairs are charged to operations as incurred. Depreciation expense is provided primarily by the straight-line method over the estimated useful lives of the assets, seven years.
Revenue Recognition
Revenue Recognition
 
Revenue for the women's fashion division will be recognized at the point-of-sale for retail store sales, net of estimated customer returns. Revenue is recognized at the completion of a job or service for the consulting division. Revenue is presented on a net basis and does not include any tax assessed by a governmental or municipal authority. Payment for merchandise at stores and through the Company's direct-to-consumer channel will be tendered by cash, check, credit card, debit card or gift card. Therefore, the Company's need to collect outstanding accounts receivable for its retail and direct-to-consumer channel is negligible and mainly results from returned checks or unauthorized credit card transactions. The Company maintains an allowance for doubtful accounts for its consulting service accounts receivable, which management reviews on a regular basis and believes is sufficient to cover potential credit losses and billing adjustments. Deposits for consulting services are recognized as a sale upon completion of service.

The Company accounts for a gift card transaction by recording a liability at the time the gift card is issued to the customer in exchange for consideration from the customer. A liability is established and remains on the Company's books until the card is redeemed by the customer, at which time the Company records the redemption of the card for merchandise as a sale or when it is determined the likelihood of redemption is remote, based on historical redemption patterns. Revenues attributable to gift card liabilities relieved after the likelihood of redemption becomes remote are included in sales and are not material.
Sales Return Reserve
Sales Return Reserve
 
The Company records a reserve for estimated product returns where the sale has occurred during the period reported, but the return is likely to occur subsequent to the period reported and may otherwise be considered in-transit. The reserve for estimated in-transit product returns is based on the Company's most recent historical return trends. If the actual return rate or experience is materially higher than the Company's estimate, additional sales returns would be recorded in the future.
Income taxes
Income Taxes
 
Income taxes are accounted for under the asset and liability method as stipulated by ASC 740 "Income Taxes." Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740, the effect on deferred tax assets and liabilities or a change in tax rate is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced to estimated amounts to be realized by the use of a valuation allowance. A valuation allowance is applied when in management's view it is more likely than not (50%) that such deferred tax will not be utilized.

The Company adopted certain provisions under ASC Topic 740, which provide interpretative guidance for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Effective with the Company's adoption of these provisions, interest related to the unrecognized tax benefits is recognized in the financial statements as a component of income taxes.

In the unlikely event that an uncertain tax position exists in which the Company could incur income taxes, the Company would evaluate whether there is a probability that the uncertain tax position taken would be sustained upon examination by the taxing authorities. Reserves for uncertain tax positions would be recorded if the Company determined it is probable that a position would not be sustained upon examination or if payment would have to be made to a taxing authority and the amount is reasonably estimated. As of December 31, 2015 and 2014, the Company does not believe it has any uncertain tax positions that would result in the Company having a liability to the taxing authorities. The Company's tax returns are subject to examination by the federal and state tax authorities for the years ended 2005 through 2014.
Impairment or Disposal of Long-Lived Assets
Impairment or Disposal of Long-Lived Assets:
 
ASC Topic 360 (formerly FASB issued Statement No. 144), "Accounting for the Impairment or Disposal of Long-Lived Assets" ("FAS 144"), clarifies the accounting for the impairment of long-lived assets and for long-lived assets to be disposed of, including the disposal of business segments and major lines of business.  Long-lived assets are reviewed when facts and circumstances indicate that the carrying value of the asset may not be recoverable.  When necessary, impaired assets are written down to their estimated fair value based on the best information available. No impairment was necessary as of December 31, 2015 and 2014.
Stock Based Compensation
Stock-based Compensation

We account for stock-based awards at fair value on the date of grant, and recognize compensation over the service-period that they are expected to vest. We estimate the fair value of stock options and stock purchase warrants using the Black-Scholes option pricing model. The estimated value of the portion of a stock-based award that is ultimately expected to vest, taking into consideration estimated forfeitures, is recognized as expense over the requisite service periods. The estimate of stock awards that will ultimately vest requires judgment, and to the extent that actual forfeitures differ from estimated forfeitures, such differences are accounted for as a cumulative adjustment to compensation expenses and recorded in the period that estimates are revised.
Recently Issued Accounting Pronouncements
Recently Issued Accounting Pronouncements

Changes to accounting principles generally accepted in the United States of America (U.S. GAAP) are established by the Financial Accounting Standards Board (FASB) in the form of accounting standards updates (ASU's) to the FASB's Accounting Standards Codification. The Company considers the applicability and impact of all new or revised ASU's.

In June 2014, the FASB issued Accounting Standards Update No. 2014-12, "Compensation - Stock Compensation (Topic 718): Accounting for Share-Based Payments when the terms of an award provide that a performance target could be achieved after the requisite service period," ("ASU 2014-12"). Current U.S. GAAP does not contain explicit guidance on whether to treat a performance target that could be achieved after the requisite service period as a performance condition that affects vesting or as a nonvesting condition that affects the grant-date fair value of an award. The new guidance requires that a performance target that affects vesting and that could be achieved after the requisite service period is treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. The updated guidance will be effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period. Early adoption is permitted. The Company is in the process of evaluating this guidance; however, it is not expected to have a material effect on the consolidated financial statements upon adoption.

In April 2015, the FASB issued ASU 2015-03, "Simplifying the Presentation of Debt Issuance Costs," ("ASU 2015-03"). ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for the first interim period for fiscal years beginning after December 15, 2015. The adoption of this ASU will not have any impact on the Company's consolidated financial position, liquidity, or results of operations.

In July 2015, the FASB issued ASU 2015-11, "Simplifying the Measurement of Inventory." Under this ASU, inventory will be measured at the "lower of cost and net realizable value" and options that currently exist for "market value" will be eliminated. The ASU defines net realizable value as the "estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation." No other changes were made to the current guidance on inventory measurement. ASU 2015-11 is effective for interim and annual periods beginning after December 15, 2016. Early application is permitted and should be applied prospectively. Management is evaluating the provisions of this statement, including which period to adopt, and has not determined what impact the adoption of ASU 2015-11 will have on the Company's financial position or results of operations.

In September 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2015-16, "Simplifying the Accounting for Measurement-Period Adjustments." The new guidance eliminates the requirement to retrospectively account for adjustments to provisional amounts recognized in a business combination. Under the ASU, the adjustments to the provisional amounts will be recognized in the reporting period in which the adjustment amounts are determined. The updated guidance will be effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. Early adoption is permitted, and the ASU should be applied prospectively. The Company is in process of evaluating this guidance.

In November 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No.2015-17, "Balance Sheet Classification of Deferred Taxes." The new guidance eliminates the requirement to separate deferred income tax liabilities and assets into current and noncurrent amounts. The amendments will require that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The updated guidance will be effective for fiscal years beginning after December 15, 2016, including interim periods within those annual periods. Early adoption is permitted, and the amendments may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. The Company is in the process of evaluating this guidance.
 
There are no other new accounting pronouncements adopted or enacted during the year ended December 31, 2015 that had, or are expected to have, a material impact on our financial statements.
Use of Accounting Estimates
Use of Accounting Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.
Fair Value
Fair Value

FASB ASC 820, Fair Value Measurements and Disclosures ("ASC 820") establishes a framework for all fair value measurements and expands disclosures related to fair value measurement and developments. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

ASC 820 requires that assets and liabilities measured at fair value are classified and disclosed in one of the following three categories:

Level 1—Quoted market prices for identical assets or liabilities in active markets or observable inputs;
Level 2—Significant other observable inputs that can be corroborated by observable market data; and
Level 3—Significant unobservable inputs that cannot be corroborated by observable market data.

The carrying amounts of cash, accounts receivable, accrued compensation, accounts payable and other liabilities, accrued interest payable, and short-term portion of notes payable approximate fair value because of the short-term nature of these items.
Concentration of credit risk
Concentration of Credit Risk
 
The carrying value of short-term financial instruments, including cash, restricted cash, trade accounts receivable, accounts payable, accrued expenses and short-term debt, approximates the fair value of these instruments. These financial instruments generally expose the Company to limited credit risk and have no stated maturities or have short-term maturities and carry interest rates that approximate market.  The Company maintains cash balances at financial institutions that are insured by the FDIC.  At December 31, 2015 or 2014 the Company had no amounts in excess of the FDIC limit.
Earnings (loss) per share
Earnings (loss) Per Share
 
In accordance with SFAS No. 128, "Earnings Per Share," the basic loss per common share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding. Diluted loss per common share is computed similar to basic loss per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive.
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2015
Income Taxes Tables  
Deferred Tax Asset
 
            
             
   
2015
    
2014
  
             
Allowance for doubtful accounts
  
$
—
    
$
—
  
Accrued expenses
    
—
      
—
  
Current deferred tax asset
    
—
      
—
  
 
                
Intangible and fixed assets
    
—
      
—
  
NOL carryforward
    
4,525,000
      
3,500,000
  
Long-term deferred tax asset
    
4,525,000
      
3,500,000
  
 
                
Total deferred tax asset
    
4,525,000
      
3,500,000
  
Less valuation allowance
    
(4,525,000
)
    
(3,500,000
)
 
                
Net deferred tax asset
  
$
—
    
$
—
  
Benefit for income taxes
 
  
2015
  
 
      
Income tax benefit (federal and state)
  
$
(6,468,000
)
Non-deductible items
    
5,443,000
  
State and other benefits included in valuation
    
—
  
Change in valuation allowance
    
1,025,000
  
Income tax benefit
  
$
—
  
Discontinued Operations (Tables)
 12 Months Ended
Dec. 31, 2015
Discontinued Operations Tables  
Discontinued Operations
 
  
Year Ended
December 31,
2015
    
Year Ended
December 31,
2014
  
 
            
Loss from discontinued operations before income taxes
  
$
(2,585,535
)
  
$
(870,045
)
Income tax expense
    
--
      
--
  
Loss from discontinued operations
    
(2,585,535
)
    
(870,045
)
Net gain on disposal(1)
    
--
      
--
  
Loss from discontinued operations, net of tax
  
$
(2,585,535
)
  
$
(870,045
)
 
                
Loss from discontinued operations attributable to Global  
  
$
(2,585,535
)
  
$
(443,723
)
Loss from discontinued operations attributable to minority interest  
  
$
--
    
$
(426,322
)
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]  
Minimum Royalties

 

Year
      
2016
  
$
100,000
  
2017
    
150,000
  
2018
    
250,000
  
2019
    
250,000
  
Total
  
$
750,000
  
Net Loss Per Share (Tables)
 12 Months Ended
Dec. 31, 2015
Net Loss Per Share Tables  
Potentially dilutive securities
 
  
December 31,
  
 
  
2015
    
2014
  
Warrants
  
 
25,000
      
-
  
Options
    
-
      
-
  
Convertible notes payable, including accrued interest
    
-
      
-
  
Contingently issuable shares
    
-
      
-
  
 
    
25,000
      
-
  
Description of Business (Details Narrative) - shares
Aug. 04, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Description Of Business Details Narrative        
Common Stock, shares authorized   400,000,000 400,000,000  
Reverse stock split 1 for 350      
Non-controlling interest       51.00%
Going Concern (Details Narrative) - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Going Concern Details Narrative    
Accumulated deficit $ (28,911,878) $ (9,779,153)
Net loss $ (19,132,725) $ (1,890,247)
Shares of common stock issued in settlement of liabilities from discontinued operations, shares   600,000
Shares of common stock issued in settlement of liabilities from discontinued operations, amount   $ 785,764
Capital Stock (Details Narrative) - USD ($)
 1 Months Ended 2 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Aug. 21, 2015
Aug. 31, 2015
Apr. 30, 2015
Dec. 31, 2015
Dec. 31, 2011
Jun. 30, 2015
Dec. 31, 2015
Dec. 31, 2014
Preferred Stock, par or stated value       $ 0.001     $ 0.001 $ 0.001
Preferred Stock, shares authorized       1,000,000     1,000,000 1,000,000
Preferred Stock, shares issued       200,000     200,000 200,000
Preferred Stock, shares outstanding       200,000     200,000 200,000
Class B Preferred Stock Voting Rights             10,000 votes per share  
Class B Dividend Rate             8.00%  
Class B Preferred stock issue for services, shares         200,000      
Class B Preferred stock issue for services, amount         $ 7,500      
Common Stock, par value, incorrect value       $ 0.35     $ 0.35  
Common Stock, par or stated value       $ 0.001     $ 0.001 $ 0.001
Common Stock, shares issued       17,537,660     17,537,660 1,758,500
Common Stock, shares outstanding       17,537,660     17,537,660 1,758,500
Common Stock, shares issuable       1,377,667     1,377,667 371,832
Stock subscriptions received               $ 791,319
Stock subscriptions reclassified to equity       $ 87,655     $ 87,655  
Shares issued for Cash, amount             444,000 $ 382,968
Share issued for acquisition, amount             968,750  
Common stock issued related to discontinued operations, amount             2,137,500  
Debt extinguishment costs             11,250,034
Minority interest reclassified to discontinued operations, amount             $ 426,321  
Directors Fee [Member]                
Shares issued for Services             1,211,248  
Shares issued for Services, amount             $ 1,514,060  
Share price       $ 1.25     $ 1.25  
Settlement Agreement [Member]                
Debt extinguishment costs             $ 8,465,034  
Note Payable Issued       $ 601,048     601,048  
Monthly Payment             $ 43,577  
Interest Rate       9.00%     9.00%  
Shares issued for debt             6,062,154  
Shares issued for debt, amount             $ 9,396,338  
Notes Payable       $ 0     $ 0 $ 931,306
Officers [Member]                
Common Stock, shares issuable       300,000     300,000  
Shares issued for Services             2,500,000  
Shares issued for Services, amount             $ 3,125,000  
Accrued salaries       $ 340,000     $ 340,000  
Share price       $ 1.25     $ 1.25  
Debt extinguishment costs             $ 2,785,000  
Bonuses [Member]                
Shares issued for Services             500,000  
Shares issued for Services, amount             $ 1,250,000  
Share price       1.25     $ 1.25  
Several Board Members [Member]                
Shares issued for Services             287,500  
Shares issued for Services, amount             $ 359,375  
Share price       $ 1.25     $ 1.25  
Common Stock [Member]                
Common Stock, shares issuable       900,002     900,002  
Stock subscriptions received           $ 10,000    
Termination agreement $ 37,500              
Shares issued for Services 200,000           71,426  
Shares issued for Services, amount $ 200,000           $ 89,283  
Shares issued for cash           766,000    
Shares issued for Cash, amount       $ 250,000   $ 169,000    
Share issued for acquisition             1,399,000  
Share issued for acquisition, amount             $ 1,892,270  
Share price $ 1.00         $ 0.25    
Common stock issued related to discontinued operations, shares             1,710,000  
Common stock issued related to discontinued operations, amount             $ 2,137,500  
Private Placement [Member]                
Additional paid-in-capital, reduction       $ (500)     $ (500)  
Par Value       $ 500     $ 500  
Shares issued for Services             500,000  
Investor [Member]                
Note Payable Issued   $ 50,000            
Convertible rate, per share   $ 1.00            
Interest Rate   8.00%            
Warrant for common shares   25,000            
Warrant, per share   $ 1.50            
Fair value of warrants   $ 3,909            
Executive Officer [Member]                
Stock option awards     250,000          
Stock option awards, value     $ 0          
Notes Payable (Details) - USD ($)
 1 Months Ended 12 Months Ended
Jul. 31, 2016
Dec. 31, 2015
Dec. 31, 2012
Dec. 31, 2014
Secured Notes Payable        
Date Issued   Jun. 06, 2007    
Note Payable Issued   $ 601,048    
Interest Rate   9.00%    
Monthly Payment   $ 43,577    
Judgment   601,048    
Notes Payable   $ 0   $ 931,306
Shares issued for debt   6,062,154    
Shares issued for debt, amount   $ 9,396,338    
Debt extinguishment cost   $ 8,465,034    
Secured Promissory Note        
Date Issued   Nov. 25, 2014    
Maturity Date   Apr. 01, 2015    
Note Payable Issued   $ 100,000    
Interest Rate   10.00%    
Notes Payable   $ 110,000   101,833
Terms   default    
Shares issued for debt   200,000    
Convertible rate, per share   $ 0.12    
Secured Promissory Note        
Date Issued   May 02, 2014    
Maturity Date   Jun. 02, 2014    
Note Payable Issued   $ 100,000    
Interest Rate   10.00%    
Accrued interest   $ 417    
Shares issued for debt   180,000    
Secured Notes Payable - Investor        
Notes Payable       785,764
Shares issued for debt 600,000      
Unsecured Notes Payable        
Date Issued   Aug. 23, 2007    
Maturity Date   Jul. 15, 2008    
Note Payable Issued   $ 67,057    
Interest Rate   10.00%    
Monthly Payment   $ 4,500    
Notes Payable   0   115,718
Accrued interest   $ 123,672    
Terms   default    
Convertible Notes Payable        
Date Issued     Dec. 31, 2012  
Year Issued   2005    
Note Payable Issued   $ 250,000    
Interest Rate   8.00%    
Notes Payable   $ 0   $ 430,115
Accrued interest   $ 450,115    
Shares issued for debt     89,000  
Shares issued for debt, amount     $ 791,319  
Promissory Note [Member]        
Date Issued   Aug. 01, 2015    
Maturity Date   Aug. 08, 2016    
Note Payable Issued   $ 50,000    
Interest Rate   8.00%    
Convertible rate, per share   $ 1.00    
Warrant for common shares   25,000    
Warrant, per share   $ 1.25    
Income Taxes (Details Narrative)
Dec. 31, 2015
USD ($)
Income Tax Disclosure [Abstract]  
Net Operating loss carry-forward $ 13,000,000
Income Taxes - Deferred Tax Asset (Details) - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Deferred tax assets    
Net operating loss carry forward $ 4,525,000 $ 3,500,000
Long-term deferred tax asset 4,525,000 3,500,000
Total deferred tax asset 4,525,000 3,500,000
Valuation allowance $ (4,525,000) $ (3,500,000)
Net deferred tax asset
Income Taxes - Tax Benefit (Details)
 12 Months Ended
Dec. 31, 2015
USD ($)
Income Taxes - Tax Benefit Details  
Income tax benefit (federal and state) $ (6,468,000)
Non-deductible items $ 5,443,000
State and other benefits included in valuation
Change in valuation allowance $ 1,025,000
Provision for income taxes
Luminx Holdings, Inc. (Details Narrative)
Dec. 31, 2015
Business Combinations [Abstract]  
Ownership 15.00%
Operating Segments (Details Narrative)
 12 Months Ended
Dec. 31, 2015
USD ($)
Segment Reporting [Abstract]  
Segment Revenues $ 3,500
Discontinued Operations (Details Narrative) - USD ($)
 12 Months Ended
Dec. 31, 2014
Dec. 31, 2015
Current liabilities from discontinued operations $ 870,045 $ 870,045
Shares of common stock issued in settlement of liabilities from discontinued operations, shares 600,000  
Loan Payable [Member]    
Current liabilities from discontinued operations $ 785,764 785,764
Accounts Payable [Member]    
Current liabilities from discontinued operations $ 84,281 $ 84,281
Discontinued Operations (Details) - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Discontinued Operations Details    
Loss from discontinued operations, net of tax $ (2,585,535) $ (870,045)
Loss from discontinued operations attributable to Global $ (2,585,535) (443,723)
Net loss attributable to non-controlling interests $ 426,321
Related Party Transactions (Details Narrative) - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Advances from related party $ 115,633 $ 87,131
Common Stock, shares issuable 1,377,667 371,832
Debt extinguishment costs $ 11,250,034
Related Party [Member]    
Proceeds from related parties 93,628 $ 87,131
Accrued Compensation $ 340,000  
Share based compensation, shares 2,200,000  
Common Stock, shares issuable 300,000  
Share based compensation, amount of shares $ 3,125,000  
Share based compensation 340,000  
Debt extinguishment costs $ 2,785,000  
Commitments and Contingencies (Details Narrative) - USD ($)
 1 Months Ended
Jan. 18, 2016
Apr. 30, 2015
Royalties   $ 50,000
Pending Litigation #1 [Member]    
Date 1/18/2016  
Allegations
unpaid rent
  
Alleged Damages $ 26,595  
Pending Litigation #2 [Member]    
Date 1/18/2016  
Allegations
debt of Avani Holdings, LLC.
  
Alleged Damages $ 150,000  
Commitments and Contingencies - Minimum Royalties (Details) - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]          
Royalty Commitment $ 250,000 $ 250,000 $ 150,000 $ 100,000 $ 750,000
Net Loss Per Share (Details)
 12 Months Ended
Dec. 31, 2015
shares
Potentially dilutive securities 25,000
Warrants [Member]  
Potentially dilutive securities 25,000
Options [Member]  
Potentially dilutive securities
Convertible notes payable[Member]  
Potentially dilutive securities
Contingently issuable shares[Member]  
Potentially dilutive securities
Subsequent Events (Details) - USD ($)
 3 Months Ended 11 Months Ended
Sep. 30, 2016
Nov. 15, 2016
Subsequent Event [Member]    
Shares issued for Services   192,500
Shares issued for debt   200,000
Shares for subscription agreement 65,000 106,001
Proceeds from Related Party $ 200,000  
President [Member]    
Shares issued for Services   107,500
Third parties [Member]    
Shares issued for Services   345,000
Director[Member]    
Shares issued for Services   50,000
Five Individuals [Member]    
Shares issued for Services   884,001