SAN DIEGO, CA-(NewMediaWire - Jul 6, 2017) - Generation NEXT
Franchise Brands (OTCQB: VEND) reports franchise backlog as of
June 30, 2017. The franchisor, whose Reis & Irvy's frozen
yogurt robots launched in April of 2016, finished the year ended
June 30, 2017, with backlog aggregating $27 million. Additionally,
the company has secured over 215 premiere locations for its
franchise network.
Other notable items are as follows:
- Reis & Irvy's total franchise network aggregates over 175
franchises;
Reis & irvy's frozen yogurt robots aggregate over 725
units;
Notable locations secured include Henry Ford Museum, Jeff Gordon
Hospital, University of Pennsylvania, McCarren Airport Las Vegas,
Indianapolis International Airport, Nissan Headquarters, Austin
Convention Center, Hyundai Headquarters, The Kraft Company
Headquarters and FedEx Express World Headquarters;
Largest franchise to date totals 12 units (two
franchises);
The company raised proceeds totaling $2.4 million in the form of an
equity offering;
We raised $509,000 in debt proceeds during the year ended June 30,
2017 and also repaid $609,000 in debt principal during the same
period. Also, various loan agreements were extended through dates
ranging from June 30, 2017 to December 31, 2017;
The company completed the fiscal year with $1.7 million in
cash;
We completed the acquisition of all Robofusion assets, including
patents, trademarks and tradenames;
We engaged D&K Engineering as our contract manufacturing
partner. D&K is an international product design and contract
manufacturing services company with a proven track record of
turning innovative ideas into successful reality. D&K's clients
include BD, Illumina, Lexmark, Hewlett Packard, Callaway Golf,
Panasonic, Microsoft, Procter and Gamble, and Halliburton;
The company's first next generation robot prototype was built and
commenced performance testing;
We initiated our international Master License program in which we
will partner with in-country entrepreneurs to distribute our frozen
yogurt robots. These in-country entrepreneurs will represent the
Reis and Irvy's brand around the globe.
"Our aggregate bookings of $27 million have laid the foundation
for our franchise program on two levels: the first being equipment
sales and cash flow for operations on the front end and secondly,
future recurring revenues from royalties and product rebates on the
back end," said Nick Yates, the company's Chairman and Founder.
"Fiscal 2018 sees us launching our beta phase production and field
tests followed by full scale production. This, coupled with the
many national location opportunities we have pending for trials and
the launch of our international licensing program, makes for a
promising forecast of activity in fiscal 2018."
For more information on the revolutionary Froyo Robots or to
learn more about how you can own your own Reis & Irvy's Froyo
Robot franchise, visit the Reis & Irvy's website at
reisandirvys.com. To learn more about 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, 19 Degrees, a
corporate-focused frozen yogurt robot brand and Generation NEXT
Vending Robots, our newly established owner/operator model. The
Company hosts over 390 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
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 fiscal 2018 forecasts, our ability to launch beta testing
and full scale production, our ability to expand our sales
opportunities, and our ability to extend our master license program
with foreign entrepreneurs. 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 fillings with
the Securities and Exchange Commission (SEC), including our most
recent Annual Report on Form 10-K for the year ended June 30, 2016,
our subsequent Quarterly Reports on Form 10-Q 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.