GENERATION NEXT FRANCHISE BRANDS COMPLETES Q2 OF FISCAL 2018 WITH APPROXIMATELY $6.6 MILLION IN BOOKINGS
January 10 2018 - 8:37AM
InvestorsHub NewsWire
GENERATION NEXT FRANCHISE BRANDS COMPLETES Q2 OF FISCAL 2018
WITH APPROXIMATELY $6.6 MILLION IN BOOKINGS, REPRESENTING 25 NEWLY
APPOINTED REIS & IRVY’S FRANCHISEES
A total of 212 Reis & Irvy’s franchisees have been appointed
representing 943 future robot installs
SAN DIEGO, CA. , Jan. 10, 2018 (NewMediaWire) -- Generation NEXT
Franchise Brands, Inc. (OTCQB: VEND), whose Reis & Irvy’s
frozen yogurt robots launched in April of 2016, completed Q2 of
fiscal 2018 with bookings aggregating approximately $6.6 million,
representing 25 newly appointed franchisees and 146 vending
robots.
Other notable items in the quarter are as follows:
- Reis & Irvy’s total franchise network now aggregates 212
franchises;
- Reis & Irvy’s frozen yogurt robots sold aggregate 943
units;
- The company raised proceeds totaling $1.7 million in the form
of an equity offering during the quarter ended December 31, 2017
and has raised aggregate proceeds totaling $6.1 million;
- The company completed December 2017 with $1.6 million in
available cash;
- We 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;
- Our prototype units have been transferred to Flex in order to
undergo additional reliability testing and engineering design
reviews. Furthermore, Flex is setting up our production line and
workflow logistics;
- We hired global communications firm, Ketchum, in preparation of
the delivery of our first robots;
- We booked our largest Reis & Irvy’s single-franchise
agreement aggregating 84 robots with a contract value of $4.1
million;
- Reis & Irvy’s was approved to sell franchises in
California;
- The company held two discovery days showcasing the prototype
robot to national location chains, media outlets, current and
prospective franchisees and shareholders;
- Announced the close of our equity raise effective January 31,
2018;
- Completed inaugural franchisee training sessions with over 80
franchisees attending;
“With the upcoming delivery of our first batch of production
robots scheduled for the first quarter of calendar 2018, we are now
fully engaged in training our franchisees and setting up the
virtual logistics services and support network with our partner,
Pitney Bowes,” stated Nick Yates, Chairman. “We anticipate ramping
up our production schedule such that we will be at full capacity
which is approximately 250 units per month, by the end of our
fiscal year in June 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, 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.
Generation NEXT Franchise Brands
Generation NEXT Franchise Brands, Inc., 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 of our
Froyo Robots and our ability to timely meet our anticipated
production schedule. 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.
Media Contact:
Generation NEXT Franchise Brands, Inc
Grainne.Sweetman@ketchum.com