GENERATION NEXT FRANCHISE BRANDS
COMPLETES FISCAL 2018 WITH $50 MILLION IN AGGREGATE BOOKINGS AND
ADDITIONAL COMMITMENTS OF APPROXIMATELY $110 MILLION FOR ITS
FRANCHISE CONCEPT REIS & IRVY’S
The Franchise Company Also Completes its Fourth Quarter
of Fiscal 2018 with Robust Bookings of 240 Robots Aggregating Over
$10 Million
San Diego, CA -- July 09, 2018 -- InvestorsHub NewsWire --
Generation NEXT Franchise Brands (OTCQB: VEND) reports franchise
bookings and deferred revenues of $50 million as of June 30, 2018,
before certain adjustments. Furthermore, the company has additional
booking commitments of approximately $110 million. The franchise
company whose Reis & Irvy’s frozen yogurt robots launched in
April of 2016, finished the year ended June 30, 2018 with over 250
franchisees.
Other notable items during the fiscal year ended June 30, 2018
are as follows:
- Cash on hand of $10 million, compared to $1.8 million in the
prior fiscal year;
- Cash in escrow of $3.8 million, compared to $2,000 in the prior
fiscal year;
- Total assets of $45 million, compared to $18 million in the
prior fiscal year and $4 million two years’ prior;
- The Company raised proceeds totaling $18.3 million in the form
of an equity offering;
- On June 20th, announced business relationship with five-time
Major Golf Champion Phil Mickelson and his career-long business
manager and business partner Steve Loy as franchisees in San
Diego;
- Signed a master franchise agreement
in Atlanta with potential future
revenues aggregating up to $21 million;
- Signed a master franchise agreement
in Australia with potential future
revenues aggregating up to $18 million;
- Signed an exclusive franchise agreement
in Miami-Dade Metro area with
potential future revenues aggregating up to $22.3
million;
- Signed an exclusive franchise agreement in Los
Angeles and Orange County markets with potential
future revenues aggregating up to $23 million;
- Signed master franchise agreements
in Israel and Oman with
potential future revenues aggregating up to $5.5 million;
- Signed a master franchise agreement
in Canada with potential future revenues
aggregating up to $17.1 million;
- Signed an exclusive agreement
in Pennsylvania with future revenues
aggregating up to $4.1 million;
- Signed an exclusive agreement
in Ohio with potential future revenues
aggregating up to $3.8 million;
- Debuted our frozen yogurt robot
at CinemaCon, International
Franchise Expo and the National
Restaurant Association;
- Delivered and installed our first redesigned robots in June
2018;
“Fiscal 2018 was an exhilarating year for Generation Next
Franchise Brands. We successfully booked over $50 million in
franchise sales, and generated booking commitments for
approximately $110 million. While the delay in our manufacturing
process did cause some angst amongst us all, I’m pleased to
announce that our first installations kicked off this past June and
these units are operating with great fanfare across multiple
states,” said Nick Yates, the company’s Chairman and Founder. “In
fiscal 2019, we look forward to substantial revenue growth,
profitability and the launch of our second robotic vending
concept.”
The company’s net loss increased in the fiscal year ended June
30, 2018, compared to the prior fiscal year, as the result of
significantly increased research and development and personnel
expenses. At the same time, the company’s cash on hand has
increased by more than five times -- from $1.8 million to $10
million -- and assets have more than doubled from $18 million to
$45 million. Most importantly, the Company is well prepared to
increase production and delivery of its robots after having
completed its first installations in June.
For more information, visit the Reis & Irvy’s website at
www.reisandirvys.com or call Toll-Free (888) 902-7558.
Generation NEXT Website:
www.gennextbrands.com
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., the world’s first
robotic frozen yogurt vending kiosk, 19 Degrees, a
corporate-focused frozen yogurt robot brand and Generation NEXT
Vending Robots, its newly established owner/operator model. The
Company has sold over 600 franchises throughout the United States,
Canada, Australia, Israel, Puerto Rico and the Bahamas, and
continually looks to partner with like-minded entrepreneurs who
share its vision.
About Reis & Irvy’s, Inc.
Reis & Irvy’s, Inc. is a subsidiary franchise concept of
Generation NEXT Franchise Brands, Inc. (OTCBB: VEND). Launched in
early 2016, the revolutionary Reis & Irvy’s Frozen Yogurt Robot
vending machine 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.
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, 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: Darren Shuster Generation NEXT Franchise Brands, Inc. Phone: (818) 744-1851 Email: darren@popculturepr.com