Generation Next Names Ryan Polk as Chief Financial Officer and
Chief Operating Officer
SAN DIEGO, CA -- April 1, 2019 -- InvestorsHub NewsWire --
Generation Next Franchise Brands (OTCQB: VEND) announced Ryan Polk
as Chief Financial Officer and Chief Operating Officer of the
Company.
Polk began working for Generation Next as a consultant in early
January and was tasked with improving the supplier relationships
and increasing the production of quality kiosks for the Company’s
flagship Reis & Irvy’s brand. This month, he joins the
management team as a full-time employee. Polk replaces Art Budman
as CFO who is leaving the Company.
“I appreciate the contributions made by Art to the Company
during his time here and wish him all the best. Fortunately, we
have been able to make a managed transition of the Company’s
financial leadership. Ryan made an immediate impact on our business
from day one,” said the Company’s CEO, Nick Yates. “Beyond finance,
his operations experience and leadership presence have expanded our
capacity to deliver the Reis & Irvy’s robots and to take
advantage of new growth opportunities.”
Polk, who has a twenty-four year career in consumer products,
had this to say about joining the Company, “I am thrilled to be
part of the team bringing to market new unattended retail concepts.
The Company has a solid product development pipeline but right now
the focus is squarely on meeting the high demand for Reis &
Irvy’s robots.”
Polk has held President, CFO, and COO positions with founder and
private equity owned consumer products companies with revenues
above $150 million. Before joining the Company, Polk served as the
CFO and COO of Cellpoint Corporation whose principal business was
the reclamation and recycling of Apple and Samsung mobile device
parts for the major US mobile carriers. The previous six years, he
filled executive roles in the portfolio companies owned by LDI, a
family office based in Indianapolis. LDI actively managed
investments in distribution, light manufacturing, and supply chain
management. He led the mergers and acquisition team for LDI as
well. Polk also served as the Vice President Corporate FP&A for
Brightpoint, a publicly traded, Fortune 100 mobile device logistics
company, based in Indianapolis prior to its sale to Ingram Micro.
He has 18 consecutive years of experience working with
international employees, customers, and suppliers. He is an alum of
Ernst & Young.
For more information, visit the Reis & Irvy’s website
at www.reisandirvys.com or call
Toll-Free (888) 902-7558.
Generation NEXT
Website: www.gennextbrands.com
About Generation NEXT Franchise Brands,
Inc.
Generation NEXT Franchise Brands, Inc., based in San Diego,
California, is a publicly traded company on the OTC Markets trading
under the symbol OTCBB: VEND. Generation NEXT Franchise Brands,
Inc. is parent company to Reis and Irvy’s, Inc. and 19 Degrees
Corporate Service, LLC
About Reis & Irvy’s, Inc.
Reis & Irvy’s, Inc. is a subsidiary franchise concept of
Generation NEXT Franchise Brands, Inc. (VEND). Launched in early
2016, the revolutionary Reis & Irvy’s Vending Robot serves
seven different flavors of frozen yogurt, ice cream, sorbets and
gelatos, a choice of up to six custom toppings and to customers
within 60 seconds or less at the point of sale. The unique
franchise opportunity has since established itself as a high-demand
product and currently showcases a franchise network both
domestically as well as internationally.
About 19 Degrees Corporate Service, LLC
19 Degrees Corporate Service, LLC is a Company-managed portfolio
that will consist of Reis & Irvy’s kiosks situated at
high-value locations in markets where Reis & Irvy’s does not
have independent franchisees. Members of 19 Degrees Corporate
Service, LLC generally will not participate in the operations of
the LLC. Routine stockings, service, and cleaning of the robotic
kiosks will be performed by trusted independent service providers
under contract with the Company and its subsidiary. Any net cash
proceeds from the kiosks will be distributed to the members on a
quarterly basis, providing an opportunity for passive income.
Member ownership units in the LLC will be issued under the
registration exemption Rule 506(c) of Regulation D of the
Securities Act of 1933 and will be available only
to accredited investors. Interested
accredited investors who qualify can contact our CEO, Nick Yates,
at nick@gennextbrands.com for
more information.
This information is not intended as an offer to sell, or the
solicitation of an offer to buy, a franchise. It is for information
purposes only. No Reis & Irvy’s franchises will be sold to any
resident of any state until the offering has been exempted from the
requirements of, or duly registered in and declared effective by,
such state and the required FDD (if any) has been delivered to the
prospective franchisee before the sale in compliance with
applicable law. Currently, the following states in the United
States regulate the offer and sale of franchises: California,
Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York,
North Dakota, Oregon, Rhode Island, South Dakota, Virginia,
Washington, and Wisconsin. If you reside in one of these states, or
even if you reside elsewhere, you may have certain rights under
applicable franchise laws or regulations.
Cautionary note on forward-looking statements
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements include, among others,
statements concerning our future financial performance, including
statements regarding: our ability to generate revenue and recognize
deferred revenue; our ability to timely launch delivery and
installation of our frozen yogurt robots; and our ability to grow
our franchising and licensing divisions and launch our
corporate-owned and direct sales platforms. The Company bases these
forward-looking statements on its current expectations, estimates
and projections about future events and the industry in which it
operates using information currently available to it. Actual
results could differ materially from those discussed in, or implied
by, these forward-looking statements. Forward-looking statements
are identified by words such as “believe,” “anticipate,” “propose,”
“expect,” “intend,” “plan,” “will,” “may,” “estimates,” variations
of such words and other similar expressions. In addition, any
statements that refer to expectations, projections or other
characterizations of future events or circumstances are
forward-looking statements. Factors that could cause actual results
to differ from those implied by the forward-looking statements
contained in this press release are set forth in our filings with
the Securities and Exchange Commission (SEC), including our most
recent Annual Report on Form 10-K for the year ended June 30, 2018,
our Quarterly Reports, and our Current Reports on Form 8-K. Be
advised that developments subsequent to this press release are
likely to cause these statements to become outdated and the Company
is under no obligation (and expressly disclaims any such
obligation) to update or revise any forward-looking statements
whether as a result of new information, future events, or
otherwise.
Contact:
Andrew Beach
Andrew.beach@gennextbrands.com