Global Fiber Technologies, Inc. - FORM 10-Q

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
____________________________________________________

FORM 10-Q

[X] Quarterly report under Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended September 30, 2018

[ ] Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Commission File No. 000-52047

_____________________________________

ECO TEK 360 INC.

(Exact name of registrant as specified in its charter)

Nevada

(State or other jurisdiction of

incorporation or organization)

11-3746201

(I.R.S. Employer Identification Number)

50 Division Street, Suite 501

Somerville, New Jersey

(Address of principal executive offices)

08876

(Zip Code)

800-289-2515

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirement for the past 90 days. Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [ ] No [ X]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act (Check One):


Large accelerated filer [ ]	Accelerated filer [ ]
Non-accelerated filer [ ]	Smaller reporting company [X]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12(b)-2 of the Exchange Act). Yes [ ] No [ X ]

Indicate the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date. 19,975,927 common shares issued and outstanding as of November 16, 2018 and 200,000 shares of preferred stock issued and outstanding as of November 16, 2018.

TABLE OF CONTENTS

PART I - FINANCIAL INFORMATION	4
Item 1. Financial Statements	4
Item 2. Management's Discussion and Analysis of Financial Condition or Plan of Operation	6
Item 3. Quantitative and Qualitative Disclosures About Market Risk	10
Item 4. Controls and Procedures	10
PART II - OTHER INFORMATION	10
Item 1. Legal Proceedings	10
Item 1A. Risk Factors	10
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	11
Item 3. Defaults Upon Senior Securities	11
Item 4. Mine Safety Disclosures	11
Item 5. Other Information	11
Item 6. Exhibits	11
SIGNATURES	13

PART I - FINANCIAL INFORMATION

Item 1.

Financial Statements

ECO TEK 360, INC. and Subsidiaries

Consolidated Balance Sheets

	September 30, 2018		December 31, 2017*
ASSETS		Unaudited
Current Assets
Cash and cash equivalents	$	261	$	—
Prepaid interest and deposits		5,833		35,333
Loan and interest receivable - related party		5,836		5,537
Total Current Assets		11,930		40,870

Property and equipment, net		1,208		1,493
TOTAL ASSETS	$	13,138	$	42,363

LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current Liabilities
Accounts payable and accrued liabilities	$	234,491	$	282,820
Accrued compensation		476,250		476,250
Unsecured notes and accrued interest payable		191,693		172,050
Convertible notes and accrued interest - net of debt discount of $81,475		69,809		—
Convertible notes and accrued interest - related party		62,500		59,500
Advances from related parties		191,619		125,238
Related party loans and accrued interest		231,670		223,880
Current liabilities from discontinued operations		84,281		84,281
Total Current Liabilities		1,542,313		1,424,019

Commitments and Contingencies		—		—

Stockholders’ Deficit
Preferred stock, Class B, $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, 19,718,927 and 18,738,927 shares issued
and outstanding, 953.666 and 1,761,166 issuable as of September 30, 2018 and December 31, 2017, respectively		20,673		20,500
Additional paid-in capital		29,264,843		29,175,692
Accumulated deficit		(30,814,891)		(30,578,048)
Stockholders' deficit		(1,529,175)		(1,381,656)

TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$	13,138	$	42,363

*Derived from audited information.

The accompanying notes are an integral part of these unaudited condensed financial statements.

ECO TEK 360, INC. and Subsidiaries

Consolidated Statements of Operations

(Unaudited)

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2018		2017		2018		2017

OPERATING EXPENSES
General and administrative	$	29,866	$	28,856	$	160,970	$	383,726
Consulting fees share expense		—		—		—		8,915
Stock based compensation		11,700		—		11,700		492,815
Gain on settlement of debt		(5,394)		—		(5,394)		—
Gain on extinguishment of debt - related party		—		—		—		(130,859)
Total Operating Expenses		36,172		28,856		167,276		754,597

LOSS FROM OPERATIONS		(36,172)		(28,856)		(167,276)		(754,597)

OTHER EXPENSE
Interest expense and financing costs		38,929		9,294		58,777		33,451
Interest expense - related parties		3,372		2,602		10,790		11,946
Total other expense		42,301		11,896		69,567		45,397

Profit (loss) from continuing operations		(78,473)		(40,752)		(236,843)		(799,994)
Provision for income taxes		—		—		—		—

NET PROFIT (LOSS)	$	(78,473)	$	(40,752)	$	(236,843)	$	(799,994)

Net profit (loss) per share from continuing operations	$	(0.00)	$	(0.00)	$	(0.01)	$	(0.04)
Net profit (loss) per share	$	(0.00)	$	(0.00)	$	(0.01)	$	(0.04)

Weighted average common shares outstanding		20,670,376		19,032,355		20,537,346		19,164,491

The accompanying notes are an integral part of these unaudited condensed financial statements.

ECO TEK 360, INC. and Subsidiaries

Consolidated Statements of Cash Flows

(Unaudited)

	Nine Months Ended
	September 30,
	2018			2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(236,843)		$	(799,994)
Adjustments to reconcile net income (loss) to net cash from operating activities:
Gain on debt extinguishment - related party		—			(130,859)
Gain on settlement of debt		(5,394)			—
Depreciation		285			285
Expenses paid for directly by related party		153,675			—
Amortization of debt discount		33,549			21,622
Stock based compensation expense		11,700			492,815
Stock issued for services		5,500			8,915
Non-cash interest		4,250			—
Non-cash expenses		2,500			—
Changes in operating assets and liabilities:
Accounts payable and accrued expenses		(42,935)			223,449
Accrued interest		31,868			23,775
Prepaid interest and deposits		29,500			(3,333)
Net cash used in operating activities		(12,345)			(163,325)

CASH FLOWS FROM INVESTING ACTIVITIES
Loans and interest receivable		—			(20,000	)
Net cash used in investing activities		—			(20,000	)

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of Convertible promissory note, net		100,000			—
Proceeds from Related party loans		—			160,650
Proceeds from unsecured notes		—			10,000
Repayment of related party advance		(87,394	)		(23,533	)
Net cash provided by financing activities		12,606			147,117

Net increase (decrease) in cash and cash equivalents		261			(36,208	)
Cash and cash equivalents - beginning of period		—			36,208
Cash and cash equivalents - end of period	$	261		$	—

Supplemental Cash Flow Disclosures
Cash paid for interest	$	—		$	—
Cash paid for income taxes	$	—		$	—

Non-Cash Investing and Financing Activity:
Related party loans converted to equity	$	—		$	106,541
Reduction of loans receivable, related party for payment of an accrued liability	$	—		$	12,106

The accompanying notes are an integral part of these unaudited condensed financial statements.

ECO TEK 360, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

September 30, 2018

NOTE 1 – DESCRIPTION OF BUSINESS AND GOING CONCERN

Eco Tek 360, Inc. ("the Company") was incorporated in Nevada on March 25, 2005. As of September 30, 2018 and December 31, 2017, the Company had 400,000,000 shares of authorized common stock.

During the second quarter, 2014 the Company formed Leading Edge Fashions, LLC of which it controls 51%. 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. Pure361 has had no operations to date nor did it have assets or liabilities as of September 30, 2018 and December 31, 2017, respectively.

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. On June 5, 2017 the Company and True Beauty, LLC (the company that controls the EMME® trademark) terminated the license agreement. PFI has had no operations to date nor did it have assets or liabilities as of September 30, 2018 and December 31, 2017, respectively.

Basis of Presentation: Unaudited Interim Financial Information

The accompanying interim condensed consolidated financial statements are unaudited. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all of the normal recurring adjustments necessary to present fairly the financial position and results of operations as of and for the periods presented. The interim results are not necessarily indicative of the results to be expected for the full year or any future period.

Certain information and footnote disclosures normally included in the condensed consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). The Company believes that the disclosures are adequate to make the interim information presented not misleading.

These condensed consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and the notes thereto included in the Company's Report on Form 10-K filed on April 2, 2018 for the years ended December 31, 2017 and 2016.

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 $30,814,891 and $30,578,048 as of September 30, 2018 and December 31, 2017 and a working capital deficit of approximately $1.5 million and 1.4 million, respectively, and no revenue generating business at this time. Consequently, the aforementioned items raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that the financial statements are issued. Management plans to raise additional debt or equity and continue to settle obligations by issuing stock. Management plans to continue to raise additional debt and equity until the Company has positive cash flows from an operating company.

The Company's ability to continue as a going concern is dependent upon its ability to repay or settle its current indebtedness, generate positive cash flow from an operating company, and/or raise capital through equity and debt financing or other means on desirable terms. 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.

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 subsidiaries, Trident Merchant Group, Inc. and Progressive Fashions Inc., and its majority owned subsidiaries, Leading Edge Fashion, LLC and Pure361, LLC which are 51% owned. All significant intercompany accounts and transactions have been eliminated. As noted above in Note 1, our 51% owned subsidiaries, Pure361 and Leading Edge Fashions, LLC, had no operations, assets or liabilities as of September 30, 2018, or December 31, 2017. Because of this, a non-controlling interest is not reflected in these financial statements.

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.

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 which is seven years. Depreciation expense amounted to $285 and $285 for the nine months ended September 30, 2018, and 2017, respectively.

Prepaid interest and deposits

Prepaid interest and deposits consist of prepaid consulting fees, debt discounts, amounts paid for deposits on property, plant and equipment and other prepaid items. Prepaid interest is amortized over the life of the related liability.

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 that such deferred tax asset will be unable to 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 September 30, 2018, and December 31, 2017, 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 2006 through 2017.

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 September 30, 2018, or December 31, 2017.

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 model includes subjective input assumptions that can materially affect the fair value estimates. The expected volatility is estimated based on the most recent historical period of time, of other comparative securities, equal to the weighted average life of the options. 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.

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. Significant items subject to such estimates and assumptions include the valuation of stock based awards issued.

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, 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 September 30, 2018, and December 31, 2017, the Company had no amounts in excess of the FDIC limit.

New Accounting Pronouncements

In January 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2018-01, Land Easement Practical Expedient for Transition to Topic 842, which amends ASC Topic 842. Among other things, the new standard requires us to recognize a right of use asset and a lease liability on our balance sheet for leases. It also changes the presentation and timing of lease-related expenses. This ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. Early adoption is permitted. The Company is currently evaluating the effect this guidance may have on its financial position, results of operations, comprehensive income, cash flows and disclosures.

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 non-cumulative 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 September 30, 2018, and December 31, 2017, the Company had 19,718,927 and 18,738,927 shares of its $0.001 par value common stock issued and outstanding, respectively. In addition, as of September 30, 2018, and December 31, 2017, the Company had 953,666 and 1,761,166 shares of common stock issuable, respectively.

In the year ended December 31, 2016, the Company issued 200,000 shares of its common stock at a value of $1.00 per share, in conjunction with the extension of the maturity date of the $100,000 note. $150,000 was amortized as of September 2016, and $50,000 was amortized for the period ended August 31, 2017.

During the year ended December 31, 2017, the Company issued 29,766 common stock valued at $0.30 per share for $8,915 of consulting services.

In June 2017, the Company entered into a consulting agreement and agreed to issue 300,000 shares of fully vested common stock valued at $0.23 per share as of the execution date of the agreement. The consulting firm is required to provide services for one year from the date of its agreement with the Company. The total value of the common stock to be issued at $0.23 per share totaling $69,000 is amortized over the one year service period. As of September 30, 2018, prepaid consulting expense related to this agreement was fully expensed. In February 2018, 150,000 shares of common stock were issued to the consulting firm and 150,000 shares remain issuable as of the date these financial statements.

In December 2017, the Company agreed to issue 10,000 shares of fully vested common stock valued at $0.22 per share for $2,200 of consulting services. In January 2018, the 10,000 shares of common stock were issued to the consulting firm.

On February 14, 2017, the Chief Technical Officer resigned. On June 8, 2017, the Company authorized the cancellation of 500,000 shares held by the Chief Technical Officer. The shares were voluntarily returned, and were cancelled by the Company in August 2017.

On June 15, 2018, 50,000 common shares were issued at a fair value of $5,500 as a commitment fee for the issuance of a $112,238 convertible note. In addition, the Company granted warrants to purchase 112,238 shares of common stock at $0.35 per share exercisable for a period of two years. The fair value of these warrants at the time they were granted was approximately $11,224 and was calculated using the Black-Scholes-Merton model (see Note 4).

On August 15, 2018, the Company issued 25,000 common shares valued at $0.17 per share for a total of $4,250 to extend the loans’ maturity date.

On August 20, 2018, the Company issued 97,500 common shares valued at $0.12 per share for a total of $11,700 as compensation to the president and CEO of the Company.

Stock Options

In the year ended December 31, 2017 the Company granted 2,650,000 options to consultants, employees and management. One hundred thousand of those options had an exercise price of $.0001, and 250,000 options at an exercise price of $0.01 vested immediately and were valued at the fair value of the Company’s stock at the measurement date less the exercise price. The value of the options was $151,490 and recorded as stock based compensation. The other 2,300,000 of options vested immediately and the fair value of these options were calculated using the Black-Scholes-Merton model. The stock compensation expense related to these options for the nine months ended September 30, 2017 was $341,327. No stock options were issued during the nine months ended September 30, 2018.

The following assumptions were used for the options granted in the year ended December 31, 2017 are as follows:

For the year ended December 31, 2017
Fair values			$0.17 - $0.45
Exercise price			$0.17-$1.50
Expected term at issuance			2 - 10 years
Expected average volatility			75.93% to 85.41%
Expected dividend yield			—
Risk-free interest rate			1.23%– 2.45%

NOTE 4 – NOTES PAYABLE

Unsecured Notes Payable

On November 25, 2014, the Company issued an unsecured promissory note to an individual in the amount of $100,000 at 10% interest and due on April 1, 2015. On April 1, 2016 the Company entered into a forbearance agreement. The lender was issued an additional 50,000 shares valued at $50,000 to extend the note to August 31, 2017. The note and accrued interest was $153,605 and $134,333 as of September 30, 2018, and December 31, 2017. The initial extension fee was amortized ratably over the extension period of 180 days. The subsequent extension fee was amortized over the period of the extension. A second extension was signed in October 2017 to extend the note to March 30, 2018 and the interest rate was increased to 17% per annum. The note remains unpaid as of September 30, 2018, and is currently in default.

During the year ended December 31, 2016, the Company received two separate payments of $12,500, totaling $25,000, as secured notes. The notes are non-interest bearing, and have no terms of repayment. The balance of the notes was $25,000 as of September 30, 2018 and December 31, 2017, respectively.

On December 12, 2016, the Company issued an unsecured promissory note to an investor for $2,200. The note bears interest at 5% and matured on June 30, 2017. On January 11, 2017 the investor loaned an additional $5,000 related to the promissory note. The balance of this note plus accrued interest totals $7,819 as of September 30, 2018. The notes are currently unpaid and in default.

On March 14, 2017, the Company issued an unsecured promissory note to an investor in the amount of $5,000. The note bears interest at 4% and matured on March 14, 2018. The balance of this note plus interest totals $5,269 as of September 30, 2018 and is currently in default.

Convertible Notes Payable – Related Party

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 is currently unpaid and in default. 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 2 years. The balance of this note plus accrued interest totals were $62,500 and $59,500 at September 30, 2018 and December 31, 2017, respectively.

Convertible Notes Payable

On June 15, 2018, The Company issued a convertible promissory note to an investor in the amount of $112,238, with an original issue discount of $9,738, convertible into common stock at the lower of $0.35 per share or 75% multiplied by the lowest traded price of the common stock during the ten consecutive trading day period immediately preceding the notice of conversion. The Company has accounted for this conversion provision under ASC 815-40-25 subsection 28 and therefore has treated the note as stock-settled debt. The Company recorded an additional liability for the value transferred to the noteholder by the ability of the noteholder to obtain a conversion price at a fixed discount to the trading price of the Company’s common stock in the amount of $37,413 and has treated that amount as a discount to the note and is amortization this discount over the life of the note to interest expense. The note bears interest at 5% per annum and matures on June 15, 2019. In connection with issuance of the note, the Company issued warrants to purchase 112,238 shares of common stock at $0.35 per share exercisable for a period of two years. The fair value of these warrants at the time they were granted was $11,224 and was calculated using the Black-Scholes-Merton model. The market value of the stock and the historical volatility of the Company’s stock on the day the warrant was granted was $0.11 and 273%, respectively. The total beneficial conversion feature discount recognized was $ 56,650. The total discount of $115,024 is being amortized over the term of the note.

The Company has amortized $33,549 of the debt discount during the nine months ended September 30, 2018.

NOTE 5 – 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 September 30, 2018, and December 31, 2017, current liabilities from discontinued operations includes $84,281 accounts payable. During the nine months ended September 30, 2018 and 2017, the Company had no income or loss from discontinued operations.

NOTE 6 – RELATED PARTY TRANSACTIONS

During the nine months ended September 30, 2018 the Company’s President paid on behalf of the Company $153,675 of expenses and was repaid $87,394. The President of the Company was owed $191,619 and $125,238 at September 30, 2018 and December 31, 2017, respectively.

During 2016, the Company received loans from the CEO and a member of the board of directors totaling $284,900. In the year ended December 31, 2017, the Company received additional loans from these individuals in the amount of $160,650. The loans bear interest at 5% per annum and matured on June 30, 2017 and September 30, 2017. During the year ended December 31, 2017, $241,059 of the notes and interest was converted at approximately $0.19 for 580,000 common shares. The conversion of debt resulted in a gain on extinguishment of debt in the amount of $130,859. The balance of these loans plus accrued interest was $231,670 and $223,880 at September 30, 2018 and December 31, 2017, respectively. These loans are currently unpaid and are in default.

In March 2017, the Company loaned a related party $20,000. The loan bears interest at the rate of 5% per annum and has a term of six months. During the year ended December 31, 2017, $14,463 was repaid. As of September 30, 2018, an amount of $5,836 is receivable.

NOTE 7 – 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 has the right to design, produce and market the EMME® Activewear Collection. On April 13, 2016, the agreement was amended regarding the term and minimum royalties. The royalty expense was $0 for the nine months ended September 30, 2018. On June 5, 2017, the Company and True Beauty, LLC, entered into an agreement to terminate the agreement. The Company is required to make twelve repayments totaling $37,500 to resolve all amounts outstanding. For the nine months ended September 30, 2018, the Company entered into a settlement agreement with True Beauty, LLC which controls the trademark EMME. The Company paid $5,000 to settle all outstanding balances with True Beauty, LLC. As a result, the Company recorded gain on settlement of debt of $5,394.

As of the date of this filing, the Company is a party to three pending litigation matters. The Company does not believe it has any liability nor has it accrued any liability as of December 31, 2017 and 2016 for the following:

One matter is 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. ECTX does not operate out of the premises in question and has never signed any leases or other documents with the plaintiff. A judgment of eviction was entered, but ECTX does not operate out of the premises in question and therefore did not appear in the matter to oppose the judgment of eviction. The plaintiff is also seeking unpaid rent in the amount of $26,595.

The second matter is entitled Patricia Witthuhn v. Global Fashion Technologies, Inc. This litigation was initiated by the plaintiff in order to collect wages allegedly due pursuant to her employment with Avani Holdings LLC. The Company never hired Ms. Witthuhn and never acquired Avani Holdings, LLC. Consequently, there is no legitimate cause of action against the Company. However, due to cash flow constraints, the Company is unable to hire outside counsel for this litigation. The amount being sought by the plaintiff is approximately $15,000.

The third matter is entitled William Corso v. Global Fashion Technologies, Inc. This litigation was initiated by the plaintiff in order to collect wages allegedly due pursuant to his employment with Avani Holdings LLC. The Company never hired Mr. Corso and never acquired Avani Holdings, LLC. Consequently, there is no legitimate cause of action against the Company. However, due to cash flow constraints, the Company is unable to hire outside counsel for this litigation. The amount being sought by the plaintiff is approximately $40,000.

NOTE 8– 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:

	September 30,		September 30,
	2018		2017
Warrants		112,238		275,000
Options		2,650,000		2,650,000
Convertible notes payable, including accrued interest		809,750		50,000
		3,571,988		2,975,000

NOTE 9 – SUBSEQUENT EVENTS

In October 2018, the Company issued 202,500 common shares valued at $0.15 for $30,375 as compensation to the president and CEO of the Company.

In October 2018, the Company issued 19,500 common shares valued at $0.15 for $2,925 of consulting services.

Item 2.

Management's Discussion and Analysis of Financial Condition or Plan of Operation

FORWARD-LOOKING STATEMENTS

This quarterly report contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

Our consolidated unaudited financial statements are stated in United States Dollars (US$) and are prepared in accordance with United States Generally Accepted Accounting Principles. The following discussion should be read in conjunction with our financial statements and the related notes that appear elsewhere in this quarterly report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed below and elsewhere in this quarterly report.

Unless otherwise specified in this quarterly report, all dollar amounts are expressed in United States dollars and all references to “common stock” refer to shares of our common stock.

As used in this quarterly report, the terms “we”, “us”, “our company”, mean Cheetah Enterprises, Inc. a Nevada corporation, and our wholly-owned subsidiaries Trident Merchant Group, Inc. and Progressive Fashions Inc., and our majority-owned subsidiary Pure361, LLC., unless otherwise indicated.

Corporate Overview

Eco Tek 360, Inc. was incorporated in the State of Nevada on March 25, 2005 under the name "Premier Publishing Group, Inc." our fiscal year end is December 31. Our company's administrative address is 50 Division Street, Suite 501, Somerville, New Jersey 08876. Our telephone number is (973) 291-8900.

We are a development stage rejuvenation technology company which will be offering branded fabrics, apparel and uniforms to the corporate, hotel, hospital and military markets.

Business of the Company

We are a development stage fiber rejuvenation technology company which will be offering branded fabrics, apparel and uniforms to the corporate, hotel, hospital and military markets. We will achieve this by utilizing a patented and proprietary process for rejuvenating textile waste into high quality fabrics and apparel. In addition, we will also be offering branded apparel into both online and brick and mortar environments.

The Women’s Apparel Segment

On March 15, 2015 we entered into a trademark license agreement with True Beauty, LLC which controls the trademark EMME®. Under this licensing agreement we had the right to design, produce and market the EMME® Activewear Collection. We created a new wholly-owned subsidiary, Progressive Fashions Inc. in February 2016 for the purpose of designing, producing and marketing the EMME® Activewear Collection. The agreement with True Beauty was terminated June 2017. Progressive Fashions Inc. has not commenced operations to date.

The Rejuvenated Uniform Segment

In April 2015, we entered into a joint venture and license agreement with Pure Systems International, Ltd. to produce and market garments and other accessories for the commercial uniform marketplace and other market verticals by utilizing Pure Systems International, Ltd.’s patented processes to up-cycle pre-consumer textile waste into reusable fiber of equal or better quality than the original fabric (the “Rejuvenated Fiber”).

In May of 2015, we created a new limited liability company, Pure361, LLC (“Pure361”) of which our company owns 51% and Pure Systems International, Ltd. owns 49%. Pure361 has the exclusive licensee to use Pure System International Ltd.’s patented Rejuvenated Fiber in conjunction with the commercial uniform marketplace and other market verticals. Pure 361 has not commenced operations to date.

The Rejuvenated Cardboard Segment

In conjunction with its focus on rejuvenated technologies, our company is exploring the possibility of also manufacturing a rejuvenated cardboard product, and is in the early stages of exploring this potential opportunity.

Trident Merchant Group, Inc.

Trident Merchant Group, Inc. is an operating subsidiary which is a “value added” strategic advisory services company specializing in rendering expertise in the areas of capital planning and procurement, licensing and branding as well as financial engineering and restructuring of its client company’s balance sheet and going public process.

Results of Operations

The following table provides selected financial data about our company for the nine month period ended September 30, 2018 and the year ended December 31, 2017.

	September 30, 2018			December 31, 2017			Change			%
Cash and cash equivalents	$	261		$	—		$	261			—
Prepaid interest and deposits	$	5,833		$	35,333		$	(29,500	)		(83	%)
Loan and interest receivable – related party	$	5,836		$	5,537		$	299			5	%
Property and equipment	$	1,208		$	1,493		$	(285	)		(19	%)
Total Assets	$	13,138		$	42,363		$	(29,225	)		(69	%)
Total Liabilities	$	1,542,313		$	1,424,019		$	118,294			8	%
Stockholders’ Deficit	$	(1,529,175	)	$	(1,381,656	)	$	(147,519	)		11	%

The following summary of our results of operations, for the three and nine months ended September 30, 2018, should be read in conjunction with our financial statements, as included in this Form 10-Q.

Three months ending September 30, 2018 compared to three months ending September 30, 2017:

	Three Months Ended
	September 30,
	2018			2017			Change			%
Revenue	$-			$-			$-			-
								—			—
Operating Expenses								—			—
General and administrative expenses		29,866			28,856			1,010			4	%
Stock based compensation		11,700			—			11,700			—
Gain on settlement of debt		(5,394	)		—			(5,394	)		—
Other income (expense)		(42,301	)		(11,896	)		(30,405	)		256	%
Net profit (loss)	$	(78,473	)	$	(40,752	)	$	(37,721	)		93	%

For the three months ended September 30, 2018 we had revenue of $0 compared to revenue of $0 for the three months ended September 30, 2017.

For the three months ended September 30, 2018, we incurred $29,866 in general and administrative expenses, stock-based compensation of $11,700, gain on settlement of debt of $5,394 and other expenses of $42,301, resulting in a net loss of $78,473. For the three months ended September 30, 2017, we incurred $28,856 in general and administrative expenses and other expense of $11,896, resulting in a net loss of $40,752.

Nine months ending September 30, 2018 compared to Nine months ending September 30, 2017:

	Nine Months Ended
	September 30,
	2018			2017			Change			%
Revenue	$	—		$	—		$	—			—
								—			—
Operating Expenses								—			—
General and administrative expenses		160,970			383,726			(222,756	)		(58	%)
Consulting fees share expense		—			8,915			(8,915	)
Stock based compensation		11,700			492,815			(481,115	)		(98	%)
Gain on settlement of debt		(5,394	)		—			(5,394	)		—
Gain on extinguishment of debt - related party		—			(130,859	)		130,859			(100	%)
Other income (expense)		(69,567	)		(45,397	)		(24,170	)		53	%
Net profit (loss)	$	(236,843	)	$	(799,994	)	$	563,151			(70	%)

For the nine months ended September 30, 2018 we had revenue of $0 compared to revenue of $0 for the nine months ended September 30, 2017.

For the nine months ended September 30, 2018, we incurred $160,970 in general and administrative expenses, $11,700 in stock based compensation, gain on settlement of debt of $5,394 and other expense of $69,567, resulting in net loss of $236,843. For the nine months ended September 30, 2017, we incurred $383,726 in general and administrative expenses, $8,915 in consulting fee share expense, $492,815 in stock based compensation, a gain on extinguishment of debt – related party of $130,859 and other expense of $45,397, resulting in a net loss of $799,994.

Liquidity and Capital Resources

The following table provides selected financial data about our company as of September 30, 2018 and December 31, 2017, respectively.

Working Capital

	September 30, 2018			December 31, 2017			Change			%
Current Assets	$	11,930		$	40,870		$	(28,940	)		(71	%)
Current Liabilities	$	1,542,313		$	1,424,019		$	118,294			8	%
Working Capital (deficit)	$	(1,530,383	)	$	(1,383,149	)	$	(147,234	)		11	%

Cash Flows

	Nine Months Ended
	September 30,
	2018			2017			Change
Cash Flows used in Operating Activities	$	(12,345	)	$	(163,325	)	$	150,980
Cash Flows from Investing Activities	$	—		$	(20,000	)		20,000
Cash Flows from Financing Activities	$	12,606		$	147,117			(134,511	)
Net Change in Cash During Period	$	261		$	(36,208	)	$	36,469

Our working capital deficit increased as of September 30, 2018, as compared to December 31, 2017, primarily due to our total current liabilities as of September 30, 2018, which were $1,542,313 as compared to total current liabilities of $1,424,019 as of December 31, 2017. The increase was primarily due to an increase in convertible note and advances from related parties.

Cash Flow from Operating Activities

During the nine months ended September 30, 2018, our company used $12,345 in cash from operating activities, compared to $163,325 cash used in operating activities during the nine months ended September 30, 2017. The cash used from operating activities for the nine months ended September 30, 2018 was attributed to a net loss of $236,843 of which $206,065 arose from non-cash expenses and we generated cash flow of $18,433 from the net increase in operating assets and liabilities.

Cash Flow from Investing Activities

The company did not use any funds for investing activities in the nine months ended September 30, 2018 compared to $20,000 used for investing activities for the nine months ended September 30, 2017.

Cash Flow from Financing Activities

Net cash from financing activities was $12,606 for the nine months ended September 30, 2018 compared to net cash from financing activities of $147,117 for the nine months ended September 30, 2017.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to stockholders.

The report of our auditors on our audited financial statements for the fiscal year ended December 31, 2017, contains a going concern qualification as we have suffered losses since our inception. We have not attained profitable operations and are dependent upon obtaining financing to pursue any extensive acquisitions and activities. For these reasons, our auditors stated in their report on our audited financial statements that they have substantial doubt that we will be able to continue as a going concern without further financing.

Limited Operating History; Need for Additional Capital

There is no historical financial information about us upon which to base an evaluation of our performance. We are a development stage company and have not generated any revenues from operations to fully implement our business plan. We cannot guarantee we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources, and competition from larger organizations. We will require equity and/or debt financing to provide for the capital required to implement our plans. We will require additional funds to operate for the next year.

We have no assurance that future financing will be available to us on acceptable terms. If financing is not available on satisfactory terms, we may be unable to continue, develop or expand our operations.

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

As a “smaller reporting company”, we are not required to provide the information required by this Item.

Item 4.

Controls and Procedures

Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

An evaluation was conducted under the supervision and with the participation of our management of the effectiveness of the design and operation of our disclosure controls and procedures as of September 30, 2018. Based on that evaluation, our management concluded that our disclosure controls and procedures were not effective as of such date to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms. Such officer also confirmed that there was no change in our internal control over financial reporting during the three month period ended September 30, 2018 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II - OTHER INFORMATION

Item 1.

Legal Proceedings

As of the date of this filing, the Company is a party to three pending litigation matters.

Item 1A.

Risk Factors

As a “smaller reporting company”, we are not required to provide the information required by this Item.

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3.

Defaults Upon Senior Securities

Item 4.

Mine Safety Disclosures

Not Applicable.

Item 5.

Other Information

None.

Item 6.

Exhibits

The following exhibits are included as part of this report:

Exhibit Number	Description
(3)	(i) Articles of Incorporation (ii) Bylaws
3.1(i)	Articles of Incorporation⁽¹⁾
3.2(ii)	By-Laws⁽²⁾
(31)	Rule 13a-14(a)/15d-14(a) Certification
31.1	Section 302 Certification under the Sarbanes-Oxley Act of 2002 of the Principal Executive Officer
31.2	Section 302 Certification under the Sarbanes-Oxley Act of 2002 of the Principal Financial Officer
(32)	Section 1350 Certification
32.1*	Section 906 Certification under the Sarbanes-Oxley Act of 2002 of the Principal Executive Officer
32.2*	Section 906 Certification under the Sarbanes-Oxley Act of 2002 of the Principal Financial Officer
101	Interactive Data Files
101.INS**	XBRL Instance Document
101.SCH**	XBRL Taxonomy Extension Schema Document
101.CAL**	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF**	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB**	XBRL Taxonomy Extension Label Linkbase Document
101.PRE**	XBRL Taxonomy Extension Presentation Linkbase Document

(1) Incorporated by reference to the Registration Statement filed with the Commission on November 29, 2005

(2) Incorporated by reference to Form 8-K filed with the Commission on February 22, 2017

* Filed herewith. In addition, in accordance with SEC Release 33-8238, Exhibits 32.1 and 32.2 are being furnished and not filed.

** XBRL Information is furnished and not filed or a part of a registration statement or prospectus for purposes of sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		ECO TEK 360, INC.
		(Registrant)
Dated: November 19, 2018		/s/ Christopher Giordano
		Christopher Giordano
		President and Director
		(Principal Executive Officer)

Dated: November 19, 2018		/s/ Paul Serbiak
		Paul Serbiak
		Chief Executive Officer and Director
		(Principal Financial Officer)

Exhibit 31.1

CERTIFICATION PURSUANT TO
SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Christopher Giordano, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Eco Tek 360, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting;

5. I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: November 19, 2018

/s/ Christopher Giordano
Christopher Giordano
President and Director
(Principal Executive Officer)

Exhibit 31.2

CERTIFICATION PURSUANT TO
SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Paul Serbiak, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Eco Tek 360, Inc.;

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: November 19, 2018

/s/ Paul Serbiak
Paul Serbiak
(Principal Financial Officer)
Chief Executive Officer and Director

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

The undersigned, Christopher Giordano, President, of Eco Tek 360, Inc., hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) the quarterly report on Form 10-Q of Eco Tek 360, Inc. for the period ended September 30, 2018 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Eco Tek 360, Inc.

Date: November 19, 2018

/s/ Christopher Giordano
Christopher Giordano
President and Director
(Principal Executive Officer)

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Eco Tek 360, Inc. and will be retained by Eco Tek 360, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

Exhibit 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

The undersigned, Paul Serbiak, Chief Executive Officer, of Eco Tek 360, Inc., hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Eco Tek 360, Inc.

Date: November 19, 2018

/s/ Paul Serbiak
Paul Serbiak
Chief Executive Officer and Director
(Principal Financial Officer)

Global Fiber Technologies, Inc. - FORM 10-Q - November 19, 2018

Global Fiber Technologies, Inc. Reports