Generation Next Franchise Brands Inc. (fka VEND)

[Alvie]

August 03, 2017 08:30 ET

53 robots sold to 10 new franchisees and 40 location contracts secured for future installations

SAN DIEGO, CA--(NewMediaWire - 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."