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
January 11, 2018 // Franchising.com // San Diego, CA - 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.
About 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.
SOURCE Generation NEXT Franchise Brands