Generation Next Shareholder Meeting to be Held August 2, 2019
July 18 2019 - 8:01AM
InvestorsHub NewsWire
Generation Next Shareholder Meeting to be Held August 2, 2019
SAN DIEGO, CA -- July 18, 2019 -- InvestorsHub NewsWire --
Generation Next (OTCQB: VEND) will hold a meeting of its
shareholders at its corporate headquarters in San Diego on Friday,
August 2nd at 10:00 AM Pacific Time. The Company recently completed
a filing with the SEC reflecting the intent to increase the
authorized shares from 100 million to 200 million. This increase is
accomplished through an amendment to the articles of incorporation
which requires shareholder approval.
“We require additional capital to fulfill the backlog of Reis
& Irvy’s robots and bridge the company to the point in time
when we can generate positive cash flow from operations.
Increasing the number of authorized shares gives us the opportunity
to explore both debt and equity sources of capital,” said CEO Nick
Yates. “We want to take care of the Reis & Irvy’s franchisees
through the increased production and installation of kiosks;
however, issuing new equity supports other objectives including a
possible up-list to a senior exchange, such as NYSE or NASDAQ, and
adding talent to our growing team. We also want to have the next
robotic vending kiosk ready for launch after we have matured the
Reis & Irvy’s platform within the next 12-24 months.” The
Company also noted proceeds from its capital raise will also be
used to fund operations and pay short term liabilities which
include accounts payable to suppliers and obligations to
franchisees lost because of the manufacturing delays and technical
issues experienced with alpha units.
Another key item on the shareholder meeting agenda is changing
the company name to Generation Next. “The name change is important
because it communicates the direction we are moving as a company to
operate both franchise and corporate store business models for our
unattended retail platforms including Reis & Irvy’s, Print
Mates, and the next program we will develop,” continued
Yates.
Proxy and voting materials are being mailed to shareholders of
record as of June 25. Generation Next will provide an audio
recording of the meeting on the investor page of its website on
Monday, August 5.
For more information, visit Generation NEXT
Website: www.gennextbrands.com or
call Toll-Free (888) 902-7558.
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. Print Mates, Inc.
and 19 Degrees.
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. Visit Reis & Irvy’s
website - www.reisandirvys.com
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:generationnext@5wpr.com