SAN DIEGO, CA--(NewMediaWire - Jan 3, 2017) - Generation NEXT
Franchise Brands (OTCQB: VEND) announced today that it has acquired the
intellectual property assets of South Carolina-based Robufusion,
Inc., a developer of robotic-kiosk vending technology. As a result
of this mutually beneficial deal, Generation NEXT will provide
Robofusion a cash payment of $420,000, issuance of a three-year,
$2-million note and warrant consideration of 1,520,000 five-year
warrants with a strike price of $.50 per share. Furthermore,
certain Robofusion Officers, Directors and Shareholders will be
subject to a five-year, non-compete agreement.
Among the other key assets in its holdings, Generation NEXT now
owns the following intellectual property: Reis & Irvy's
trademark (U.S. Patent & Trademark Office trademark
registration number 4530264); U.S. utility patent number 8,989,893;
U.S. design patent number D647,926; and U.S. patent application
numbers 20140120235 and 20160242434.
Earlier last year, Generation NEXT launched its newest franchise
concept, Reis & Irvy's, a brand and technology originally
licensed exclusively from Robofusion.
The ground-breaking technology serves two different flavors of
frozen soft-serve desserts as well as a swirl option, all available
with six toppings in under 60 seconds and showcases the world's
first soft-serve, robotic vending system. With the exclusive
ownership of these assets, Generation NEXT is now exploring ways to
leverage this technology for the development of future concepts
that will expand its business.
Upon receiving the technology from Robofusion in February of
2016, Generation NEXT brought together a team of engineering
professionals to upgrade and streamline the hardware, the software
and overall mechanics of the Reis & Irvy's "Froyo Robot" in an
attempt to develop a completely redesigned unit that has been
modified on almost every level. A completely customized
double-barrel, soft-serve unit located inside the robot will ensure
the product is delivered at the perfect temperature and
consistency. The user interface and software has been completely
redesigned with telemetry software, allowing ease-of-use for our
current and future franchisee operators. For example, the robots
will electronically distribute multiple daily reports to the
franchisees, providing highly beneficial information such as
product temperature, consumable levels and daily, weekly and
monthly financial sales performance. This is all accomplished by
Generation NEXT adding temperature and product level sensors
throughout the technology.
Since customer satisfaction and safety are a top priority,
Generation NEXT put its new design through the rigorous NSF
(National Sanitation Foundation) and UL (Underwriters Laboratories)
certification process to ensure the robots meet the highest
standards in food safety and overall design for manufacturing. In
addition, Generation NEXT has completely re-designed the
self-cleaning mechanism. After every use, the robot cleans and
sanitizes the dispensing spigots to ensure no residue is left from
the previous order. This patent-pending, self-cleaning design
opportunity is just one of the many examples of Generation NEXT
evolving and elevating this technology as it prepares for multiple
opportunities both domestically under the Reis and Irvy's brand and
abroad via licensing agreements.
Finally, with entertainment, novelty and the customer experience
being a priority, Generation NEXT added proximity sensors to the
robot. This allows the robot to sense when customers are nearby
with the completely redesigned robotic arm moving into action by
dancing and lighting up, making it very difficult for consumers to
avoid the "wow factor" when walking past or approaching the
unit.
To allow Generation NEXT the opportunity to take advantage of
both domestic and international sales opportunities in the form of
franchising and licensing, the company has implemented and
contracted third-party manufacturing, distribution, installation,
training and a service network to support its customers in over 140
countries around the world.
For more information on Generation NEXT Franchise Brands or
their family of brands, including Reis & Irvy's, Fresh Healthy
Vending or 19 Degrees, please visit www.gennextbrands.com or call toll free
888-902-7558.
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.
Generation NEXT Franchise Brands
Generation NEXT Franchise Brands, based in San Diego,
California, is a publicly traded company on the OTC Markets trading
under the symbol: VEND. Generation NEXT Franchise Brands is parent
company to Fresh Healthy Vending LLC, the market's leading
healthy-choice vending machine franchise, Reis and Irvy's, Inc.,
the world's first robotic frozen yogurt vending kiosk and 19
Degrees, a corporate-focused frozen yogurt kiosk brand. The Company
hosts over 310 active franchisees throughout the United States,
Canada, Puerto Rico and the Bahamas, and continually looks to
partner with like-minded entrepreneurs who share its vision.
Cautionary note on forward-looking statements
Except for historical information contained in this release,
statements in this release may constitute forward-looking
statements regarding assumptions, projections, expectations,
targets, intentions or beliefs about future events that are based
on management's belief, as well as assumptions made by, and
information currently available to, management. While the Company
believes that expectations are based upon reasonable assumptions,
there can be no assurances that goals, results and strategy will be
realized. Numerous factors, including risks and uncertainties,
terms and availability of financing, may affect actual results and
may cause results to differ materially from those expressed in
forward-looking statements made by the Company or on its behalf. In
addition to statements, which explicitly describe risks and
uncertainties, readers are urged to consider statements labeled
with such terms as "believes," "belief," "expects," "intends,"
"feels," "anticipates," "proposes," "proposed," or "plans" to be
uncertain and forward-looking. More detailed information on these
and additional factors that could affect Generation NEXT's actual
results are described in Generation NEXT's filings with the
Securities and Exchange Commission, including its most recent Form
10-Q for the quarterly period ended September 30, 2016, and its
annual report on Form 10-K for the fiscal year ended June 30, 2016.
All forward-looking statements in this news release speak only as
of the date of this news release and are based on Generation NEXT's
current beliefs and expectations. Generation NEXT undertakes no
obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or otherwise,
except as required by law.