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"...Someone had 30k shares to sell on one trade at .49..."
Me thinks you are relying too much on IH for what is a buy or a sell. Level II yesterday morning indicated an investor wanted to BUY 50,000 shares at 0.49. The trade you refer to was most likely a buy and not a sell. Just saying....
Old news that I'm sure they are aware of...
I believe the SEC reviews (not saying approves, but reviews) every PR that VEND puts out, and to my knowledge has not questioned any of them. What complaint are you intending to make to the SEC?
Let me first clarify something that has been inferred in the past - I am not an insider in VEND, or any other company for which I have posted, nor have I ever been. The 1500 posts you refer to are on over a dozen or more message boards during the 18 years I have been a member of IH.
Regarding VEND, I have emailed, texted and Private Messaged with franchisees and private investors. I have talked and texted with Sean Paul, VENDs IR person, and on a few occasions with Nick Yates. To my knowledge they have not shared inside information with me nor have I asked for inside information. In general they confirmed what I may have learned in my own due diligence from other public sources. Like Officiousintermeddle, whose digging found information on specific machines and where they were placed, information that is public but certainly not in a form I could find, I have come across public information that might be 'hidden' from others. It is possible to find information about a company and its operations that is public but not announced in an official PR. Posters on public message boards are under no obligation to disclose all they know about a stock and you are naïve if you believe they do.
As far as having 'hope', that is probably true to some extent but it is reinforced by what I also know. I tend to be an optimist and occasionally that has burned me, but in VEND's case I don't agree with some posters who say that franchisees are fleeing in droves or soon will be because of the California requirements. I believe FLEX has been delivering machines on schedule, and will continue to do so until they have fulfilled the contract for machines on which they received a full upfront payment, and at the same time Stoelting is, or soon will be, delivering machines also. I believe they will overcome their current cash flow problem and be cash positive during the current fiscal year. How the stock price will respond is unknown but I also believe it will be substantially higher at this time next year for investors who have patience.
All JMHO.
"...all the shareholders can do is to decide where they want to cut their loses..."
And have you decided???
I've done my due diligence but I'm not going to do yours for you...
In response to your second question, I believe Yates is going to act in a rational and responsible manner when the additional shares are authorized and that he will do all in his power to make you whole on your investment. JMHO
Do you know whether anyone else has picked up the Vegas market and whether they have installed any machines?
Well, it finally broke through the $11.50 ceiling that it had been bumping against for the past few days. Next barrier from those of you who do charting?
Trading today was classic with price responding to supply and demand. Between 10:45 and 11:45 more than 100,000 shares were bought and the price rose by 12.5% from 0.56 to 0.63. During the remainder of the day only 10k shares were bought and nearly 40k sold and the price declined to 0.589.
One thing notable was that the MM's were competing to buy whatever shares were available. When CDEL was offering to buy shares at 0.532, GTSM jumped to the front and was offering 0.533. At the end of trading with the bid/ask 0.541/0.5893, one of the MM's (didn't see which one) jumped their bid to 0.589 to pick up 999 shares. Competition between MM's to build inventory is a good sign. Let's see if it holds.
Quote:
"...California franchisees will have to clean their machines three times a week..."
My understanding is that this is only temporary until the DOA is satisfied that the machines work as advertised and that then the cleaning will only be weekly like the rest of the country.
If you looked closely, all his 'references' were to failed brick and mortar yogurt shops. Kiosks in airports, universities, game rooms, etc are an entirely different market. So we need to see whether Yates can capitalize on them successfully. The game is still early IMO.
Nik Wright, VP Operations for Generation Next, sent this out today to the franchisees:
Team,
We had our best day of sales yesterday with over 4000 cups sold in the U.S. Following are the top 10 locations with number of transactions each. Note: Many transactions were for more than one cup. For instance, the 111 transactions at the Houston Space Center resulted in 142 cups sold.
1) Mount Carmel East (Green) (Hospital) -145 (Installed 7/15)
2) Houston space Center (Mattix) – 111
3) CHOP (Shapiro) – 79
4) Funplex (Mosley/Sadowski) – 67
5) Liki Tiki (Robert) – 64
6) Lousiville Airport (Masterson) – 57
7) Children’s National ( Anderson) (Hospital- Morrison) -56 (Installed 6/20)
8) MWR US Army – Fort Gordan (Shepherd) – 55 (Installed 7/15)
9) UW Hospital – (Patterson) – 54
10) Chester County Hospital (Shapiro) – 54
As many of you know, I keep a close eye on sales and pretty much have Nayax open on my computer all day long. This allows me to communicate with the entire team about where we are succeeding. Then by aggregating the information, the team can make data-driven decisions when it comes to location procurement and identifying trends.
We are committed to assisting every franchisee in the field and those who haven't launched yet. It brings the team and me so much joy to see kiosks being installed every day across the country. We have learned a lot over the last year, and we are determined to keep improving.
To repeat what Nick Yates has already said:
We are improving the team's ability to secure locations because we have data from more machines doing well, and we know where not to go. This is the first part of everybody succeeding. The next part is delivering the Steps to Success Program, which Andrew Beach and I are building together.
Thanks,
Nik Wright
I was always told that there was more than one way to skin a cat, so will just wait and see....
400,000 shares traded in the past 20 min as price rose from ~0.465 to over 0.48
"...how does issuing new equity help getting uplisted…"
You need to 'read between the lines'. If issuing new equity helps them get over the hump in order to build revenue and concurrent stock price, they won't need a 20:1 reverse split to qualify for uplisting.
Generation Next Shareholder Meeting to be Held August 2, 2019
SAN DIEGO, CA -- July 18, 2019 -- InvestorsHub NewsWire -- Generation Next (OTCQB: VEND) will hold a meeting of its shareholders at its corporate headquarters in San Diego on Friday, August 2nd at 10:00 AM Pacific Time. The Company recently completed a filing with the SEC reflecting the intent to increase the authorized shares from 100 million to 200 million. This increase is accomplished through an amendment to the articles of incorporation which requires shareholder approval.
“We require additional capital to fulfill the backlog of Reis & Irvy’s robots and bridge the company to the point in time when we can generate positive cash flow from operations. Increasing the number of authorized shares gives us the opportunity to explore both debt and equity sources of capital,” said CEO Nick Yates. “We want to take care of the Reis & Irvy’s franchisees through the increased production and installation of kiosks; however, issuing new equity supports other objectives including a possible up-list to a senior exchange, such as NYSE or NASDAQ, and adding talent to our growing team. We also want to have the next robotic vending kiosk ready for launch after we have matured the Reis & Irvy’s platform within the next 12-24 months.” The Company also noted proceeds from its capital raise will also be used to fund operations and pay short term liabilities which include accounts payable to suppliers and obligations to franchisees lost because of the manufacturing delays and technical issues experienced with alpha units.
Another key item on the shareholder meeting agenda is changing the company name to Generation Next. “The name change is important because it communicates the direction we are moving as a company to operate both franchise and corporate store business models for our unattended retail platforms including Reis & Irvy’s, Print Mates, and the next program we will develop,” continued Yates.
Proxy and voting materials are being mailed to shareholders of record as of June 25. Generation Next will provide an audio recording of the meeting on the investor page of its website on Monday, August 5.
This Company Increased Their Revenue By Nearly 2000 Percent
BY T1 | JULY 17, 2019 | LIFESTYLE
How did public company Generation Next (Stock Symbol: VEND) end their fiscal year with a 1,821 percent increase in revenue? Two Words. Unattended retail.
Next_Generation
Generation Next is the largest unattended robotic retail company in the world that you’ve probably never heard of. With over 400 robotic vending kiosks in the field, delivering frozen yogurt to customers via some very cool robotic technology, this company is just getting started.
CEO and visionary of Generation Next (VEND), Nick Yates understands why his business has the ability to disrupt so much so that it drives some forms of retail out of existence. He also understands the importance of providing jobs along the way contrary to what most of us think when it comes to robots serving anything!
Just last year Yates’s public company (VEND) achieved less than $1 million in sales. This year a staggering $17 million, up 1,821 percent. With a backlog of approximately $150 million in anticipated revenues still pending, this company is taking unattended retail to a new level, and they’ve only just begun.
“I think the first product anyone innovates or engineers is always the most difficult, and for us we really made a lot of mistakes.” said Nick Yates, CEO and Founder of Generation Next (VEND). “Now, we understand how to take something literally from sketch to scale we are ready to begin complimenting that with new and exciting innovations that fit nicely within our patent portfolio. Adding shareholder value is so important to us, most of our shareholders hung in with us over what was a difficult year prior. We are ready now to deliver some real value and are very much looking forward to the challenges and rewards that await us in fiscal 2020.”
After spending over a year and a half developing the technology for the soft serve robotic vending machines, Generation Next is finally reaping the benefits. They now stand as the market leader in unattended retail and furthermore are expected to do even better in the coming fiscal year. Over the course of the next 12 months, the company is looking to achieve an estimated $40 million in revenue.”
While Nick is humbled and pleased with the results of Generation Next’s 2019 fiscal year, he looks forward to what’s to come with the promise of even more installations and more revenue for the company. He is excited to continue to introduce unattended retail to new locations and demographics by way of Reis & Irvy’s. What’s next you might ask? “Popcorn, sushi, pizza, cookies all can be delivered easily by vending robots”, said Yates to conclude.
As I said in my comment to gdogg, I don't believe a security attorney would take on a high risk class action suit against a company such as VEND which doesn't have significant cash in the bank where there would only be a small chance of a successful financial outcome, IMHO, even if they could somehow prove that VEND did anything purposefully fraudulent, which I don't believe they did. JMO
I believe the machine problems can be overcome, or have been already, but prime locations for the machines is a bit more problematic. Obviously some of the machines are doing very well and the company needs to exploit more of those kinds of opportunities. Hamburger shops are not a problem, but some airports and movie theaters with already established yogurt shops could be.
Market for the machines may not be as large as they originally thought but there is still room for substantial expansion, IMO, and I don't believe a security attorney would take on a high risk class action suit against a company such as VEND where there is only a small chance of a successful financial outcome. Best recourse for disgruntled share owners is to sell and lick their wounds.
Fidelity has PVG reporting Q2 results on Sept 3, which seems late for the quarterly results. Current estimate is 0.09/sh vs 1st Q actual of 0.08/sh (0.04/sh est). With expanding capacity and good gold prices, analyst estimates should be easily surpassed, IMO.
I assume BFF refers to Nick's Best Froyo Friend who is securing an income stream for his family once he retires from his current activities....
To each his own.
Believe that was a sell not a buy, but if I had any loose change I would consider it.
Final proxy statement and meeting date available on document on OTC from VEND.
Shareholder Meeting
Looks like someone is doing some bottom fishing....
"hard earned money investors have lost"
You only lose money if you sell when the price is down.
Could be several future events that could result in a share price increase - Walmart, California, etc.
Could also be possible that certain events could cause additional price drop - Stoelting problems, loss of Walmart, etc.
My bet is on the former rather than the latter. JMHO
I think they are finally correcting what had been erroneous information. The July 2 PR said they had revenue of $17.1MM on 407 units. Those 407 units are distributed between R&I (domestic), 19 Degree Corporate and International. As currently noticed, there are 325 R&I, 20 Corporate and the remainder (62) International. I questioned the 407 as to why they were all listed under R&I previously.
Went by the Houston Art Institute and checked out their kiosk. It's one of the newer ones and operated fine. Just as I finished getting my yogurt another individual came up and also bought one (no CBD toppings, though).No idea how many they sell in a day as July is probably a slow time at the Institute. Current choices were strawberry and milk chocolate. The mix was good, very refreshing!
Thanks, wshaw14. Was an interesting mine tour. Would have liked to participate!
Maybe it's the proxy materials they have to approve before a date can be set??
Response I got when asking about the date was along the lines of 'waiting on SEC approval'. I assumed that was approval for the date but more likely for the proxy materials....
caroy, just learned that the proxy materials will be mailed to shareholders. Date of actual meeting is waiting on approval by SEC.
San Diego Business Journal (edited slightly)
(Note the comments about the California situation. Expect approvals soon.)
TECHNOLOGY: FOR REIS & IRVY’S, DISRUPTION IS DISH BEST SERVED COLD
Robot Ice Cream Vendors Bring In $16M in FY2019
By Mariel Concepcion
Sunday, July 7, 2019
A developer of robots, automation and AI technologies, San Diego-based Generation NEXT Franchise Brands Inc. is the parent company to Reis & Irvy’s Inc., its robotic machines subsidiary that serves seven flavors of ice cream, frozen yogurt, sorbet and gelatos with six options of toppings in about 60 seconds or less to customers.
Nick Yates, CEO and chairman of Generation NEXT, said these robots are close to making their debut in the Golden State, maybe as soon as this summer.
“California is the only site we haven’t yet received approval on. But we just secured the health permit in the state and now we are in the last stages,” Yates said, adding that Qualcomm, Alvarado Hospital, adjacent to San Diego State University, and Kearny Mesa’s Zion Market are just some of the San Diego locations ready for their robots pending approval. “We are hoping that this month we will be in the clear and to have units on the ground four to six weeks after that.”
Founded in 2013, Generation NEXT launched Reis & Irvy’s in 2016 after it bought four patents for a pre-existing automated ice cream machine from an interactive robotic kiosk company called Robofusion.
1,000 Scheduled Installations
Today, Reis & Irvy’s has 325 frozen yogurt robots deployed around the globe and close to 1,000 more, including 30-40 throughout Southern California, scheduled to be installed this year, according to Yates. He adds that the company’s revenue for fiscal year ending June 2019 was $16 million and is expected to reach $50 million in this FY. In total, Reis & Irvy’s has 300 franchisees and pre-sales of approximately $160 million, Yates said.
There’s a minimum investment of $120,000 per franchisee, which includes two machines.
Once approved by the California Department of Public Health, the company has to go through one additional step with the California Department of Food and Agriculture, said Yates, before shipping and beginning all installations
.
“We saw how Robofusion had tried to do it, but when we bought the patents, they stepped aside so we could develop a technology that had a much smaller footprint and could be placed in different locations and categories,” said Yates, who said the previous company spent a lot of time and money attempting to develop a similar technology to no avail. “We also improved it from a software perspective and also the entire technology – down to the pouring of a cup of consumable ice cream, the right amount, the right temperature, the right consistency.”
Experiential Treat
Paula Peter, marketing professor at San Diego State University, believes today’s consumer will be intrigued by Reis & Irvy’s experiential and immersive aspect. “From the front of the machine, you can see the process going, so, it entertains people, especially kids,” she said, adding that the ease of purchase will also entice buyers. “There are so many different types of ice cream stores now but no one has necessarily come up with the new ways of getting the ice cream and getting the consumer more involved than what is already out there. These guys have the ‘first movers’ advantage by making the experience more of getting the consumer more involved than what is already out there. These guys have the ‘first movers’ advantage by making the experience more tailored and more immersive.”
Reis & Irvy’s machines are 15 square feet, five feet wide wide, three feet deep and about six feet in height, said Yates. They are on wheels, so they can be easily moved despite weighing 1,500 pounds, and hold up to 200 cups and 12 gallons of product each that is released through two barrels. They can be installed anywhere as long as there is an outlet that matches the electrical specs of the machine’s plug, Yates said.
The way the company works is it sells machines to franchisees, who are required to buy a minimum of two robots each, according to Yates. Reis & Irvy’s San Diego-based team then finds homes for the robots, whether that is an amusement park, a hospital or a convention center.
Maintaining the machines.
It is the job of the franchisees, though, to perform the required maintenance on the automated dispensers, said Yates. Reis & Irvy’s franchisees are contractually mandated to make two visits a week per location in order to add more cups and/ or product and/ or toppings, as well as give the machines a cleaning and collect the money. There is a third visit that takes place weekly, Yates said, which is for flushing out the entire unit with sanitizer, deep cleaning and filling it up again with product.
Reis & Irvy’s are manufactured by a company called Flex LTD out of South Carolina. Reis & Irvy’s has an exclusive contract with dairy food company Dannon, as well as a new partner, a soft-serve company that operates out of Wisconsin.
As for robots replacing the human workforce, Reis & Irvy’s says it employes plenty of people.
Everything from the cleaning of the robots to the restocking is done by local professionally vested operators. Reis & Irvy’s itself creates manufacturing jobs, service jobs, and franchisee support positions, to name a few. The company said it employs 50 employees at its headquarters dedicated to franchisee support for the life of its contracts.
I don't think there has yet been a proxy statement since no date has been set for the shareholder meeting.
Not sure why you say all reference to Mickelson has been removed from Generation Next.
From Generation Next's current website (and there are other Mickelson items also):
Mickelson
"Why aren't any of the Phil Mickelson news releases, videos and interviews no longer on their website?"
You have contacts with the company, why not ask them?
Sonata, it's not my place to explain anything about the 'unknowns' - Mickelson, machine locations, etc. You need to ask the company about these things. As far as the shareholder meeting date, I've made two inquiries about it and have yet to get an answer.
BTW, I understand there was a kiosk at the Houston Art Institute on the Southwest Freeway in Houston. Have you checked it out? Don't know anything about it other than seeing a reference to one being placed there.
Similar to the previous reference but just adds that Jolly Backer, who was the original founder and principal of FHV, failed to disclose that he had filed for bankruptcy 10 years prior to forming FHV.
All of this was extensively discussed in this forum several years ago. Anyone who had done their due diligence could/should have been aware of these potentially controversial items.
Those charges stemmed from the early years of Fresh Healthy Vending (~2008)when the company (Yates was a marketing manager, not CEO at the time) offered vending machine franchises without having all the necessary paperwork from the state of Washington and were fined $3000. Paperwork was corrected and Washington (and California) subsequently allowed the franchise sales if memory serves me correctly.
Sorry, thought Stoelting was the major player.