San Diego, CA -- November 28, 2017 -- InvestorsHub NewsWire --
Generation NEXT Franchise Brands, Inc. (OTCQB: VEND), whose Reis & Irvy's frozen yogurt
robots launched in April of 2016, completed October of fiscal 2018,
with bookings aggregating $2.3 million.
Other notable items in October are as follows:
- The company raised proceeds totaling $410,000 in the form of an
equity offering during October and has raised aggregate proceeds
totaling $5.2 million;
The company completed October 2017 with $1.5 million in available
cash;
The company secured a master international licensing agreement
within Canada that represents over $18 million in revenue, over a
five-year period, if certain purchase objectives are met;
Two of the company's Reis & Irvy's prototype units were
transferred to our exclusive manufacturing partner Flex Ltd. to
undergo the final set of reliability tests and engineering design
reviews. Furthermore, Flex has begun production line and
workflow logistics
"As we near the end of calendar 2017, we are extremely pleased
with our progress as a franchisor and very proud to say we are
officially now a developer and manufacturer of disruptive vending
technology" stated Nick Yates, Chairman and Founder. "We believe
that calendar 2018 will be a breakout year for Generation NEXT as
we continue to grow our franchising and licensing divisions, launch
our corporate owned and direct sales platforms and begin
installation of all presold Reis & Irvy's robotic vending
machines for the sake of proof of concept, market acceptance and
revenue recognition."
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, Generation Next Vending Robots, 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.
About Generation NEXT Franchise Brands,
Inc.
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 has sold over 600 franchises 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 our ability
to timely launch delivery and installation of our Froyo 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 fillings with
the Securities and Exchange Commission (SEC), including our most
recent Annual Report on Form 10-K for the year ended June 30, 2017,
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.