Generation NEXT Franchise Brands Commences Fiscal 2018 With $2,197,500 in Bookings for July
53 robots sold to 10 new franchisees and 40 location contracts secured for future installations.
SAN DIEGO, CA - (Marketwired - Aug 3, 2017) - Generation NEXT Franchise Brands (OTCQB: VEND), whose Reis & Irvy's frozen yogurt robots launched in April of 2016, commenced fiscal 2018, with bookings aggregating $2,197,500 in July 2017, representing the sale of 53 robots to 10 new franchisees. Additionally, the company secured over 40 location contracts for its franchise network.
Other notable items in July are as follows:
- Reis & Irvy's total franchise network aggregates over 185 franchises;
- Reis & Irvy's frozen yogurt robots aggregate over 760 units;
- Notable locations secured include in July; University of Tennessee, Neyland Stadium; Luxor Hotel, Las Vegas; The Mob Museum, Las Vegas; The Charles H. Wright Museum, Detroit; Stratosphere Hotel and Casino, Las Vegas; Texas Tech University, Lubbock, Texas; and Seattle Children's Museum, Seattle, Washington;
- The company raised proceeds totaling $626,000 in the form of an equity offering;
- We repaid $461,250 in debt principal during July 2017;
- The company's next generation robot prototype commenced performance testing that included 300,000 cycles for its robotic arm with zero failures;
- The company executed its first international Master License Agreement for Israel. The Agreement calls for the Israeli Master Licensee to purchase $3.6 million in robots over the next five years;
- The company released a newly developed Reis & Irvy's video animation, which will be activated on the 24" screen positioned inside each robot and which runs for 65 seconds during each customer transaction. Visit https://vimeo.com/228136639/fe24d4815e
"Our first month of fiscal 2018 allowed us the opportunity to grow the franchise network conservatively based on upcoming production efforts and schedules. We continue securing premiere locations for franchisees with limited resources available to us in the form of actual units in the field. We anticipate even better results once we begin installations during the second quarter of fiscal 2018," stated Nicholas Yates, Chairman and Founder. "Our ability to promote the product with actual case studies in the form of location testimonials and media coverage opens up opportunity on so many levels. We are also pleased with our efforts to raise a total of approximately $3 million in the form of equity and will decide if this is to continue on the same set of terms in the coming weeks. We are extremely excited about the prospects that lay ahead and look forward to executing in this transition year."
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 http://www.reisandirvys.com/. To learn more about Generation NEXT Franchise Brands, 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 has sold over 500 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 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 filings 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.
Generation NEXT Franchise Brands
SOURCE: Generation NEXT Franchise Brands