Generation NEXT Franchise Brands Completes October 2017 With $2.3 Million in Bookings Representing Nine Newly Appointed Reis & Irvy's Franchisees
A total of 197 Reis & Irvy's franchisees have been appointed since launching in April of 2016
SAN DIEGO, CA - (Marketwired - Nov 28, 2017) - 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.
SOURCE Generation NEXT Franchise Brands, Inc.