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You should call the IR contact for VEND, Sean Paul at 858-322-4449. He handles calls and questions from all shareholders.
JUNEAU, Alaska — Alaska Lt. Gov. Byron Mallott resigned Tuesday over unspecified inappropriate comments, complicating what was already a difficult re-election fight for Gov. Bill Walker.
Mallott, in his resignation letter, said his decision was "compelled by inappropriate comments I made that placed a person whom I respect and revere in a position of vulnerability."
He apologized and acknowledged that his actions had compromised Walker's ability to lead the state.
Thanks, appreciate you keeping everyone updated.
Alvie
What do you think disappointed investors in today's report - the gold production being less than 100k oz or the grade (related, of course)? Don't think institutional investors are bailing based on volume.
If you understand how 'bookings' and 'revenues' work for a startup company you
would know that it is normal for revenue to lack bookings significantly until the company is up and running in a more or less steady state.
This in no way means that a company is a 'sham' company, IMO.
and yet you referred to VEND as a 'sham company'
because it reported 'bookings' in their PR issued 2 days after the end of the month
rather than 'revenues' - which will be in their 10-Q.
This is not a 10-K/Q. Annual Report will be filed in the next two weeks with 10-K and the 10-Q for the quarter just ended by Nov 15.
Generation NEXT Franchise Brands Completes Q1 with a Record $11.9 Million in Aggregate Bookings for its Franchise Concept Reis & Irvy's
BY GlobeNewswire
— 8:14 AM ET 10/02/2018
The Company Completes its First Quarter of Fiscal 2019 with Bookings of 229 Unit Sales
San Diego, CA, Oct. 02, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Generation NEXT Franchise Brands ( VEND) reports quarterly franchise bookings of $11.9 million as of September 30, 2018, before certain adjustments. Furthermore, the company has additional booking commitments of approximately $129 million. The franchise company, whose Reis & Irvy’s frozen yogurt robots launched in April of 2016, finished the quarter ended September 30, 2018 with 285 franchisees.
Other notable items during the fiscal quarter ended September 30, 2018 are as follows:
Completed the quarter with total cash and restricted cash of $6.7 million;
Record units booked totaling 229;
Total franchises to date totals 285;
Booked master franchise agreement in Little Rock, Arkansas aggregating $547,000;
The Company was officially certified by NAMA;
The Company was officially certified by the National Sanitation Foundation (“NSF”);
Forging ahead on national roll out with 61 units shipped and installed to date;
Booked master franchise agreement in Knoxville, Tennessee aggregating $3.2 million;
Added two key independent members and industry veterans to our Board of Directors, Lavaille Lavette and Chris Maudlin; Mr. Maudlin will also serve as Chairman of our newly created Audit and Compensation committees;
Our franchisee gives back; Our Jacksonville franchisee, Brandon Cheal, agrees to donate 100% of first 30 days’ profits to victims of Jacksonville Landing shooting;
Generation NEXT reveals sneak peak of the future with new websites (www.gennextbrands.com and www.franchise.reisandirvys.com);
Booked master franchise agreement in Dayton, Ohio aggregating $3.2 million;
Signed full service and support agreement with CSA Service Solutions to provide technical support to our franchisees;
Booked master franchise agreement in Cincinnati, Ohio aggregating $8.5 million;
Strengthened patent portfolio with more comprehensive utility patent claims;
Booked master franchise agreements in Columbus, Ohio and Oklahoma City aggregating $9.3 million;
Completing final stages of development of the Flavor Burst six-flavor system combined with a three-spigot self-cleaning and sanitizing mechanism;
Now delivering the Stoelting Companion Cart, with Hydra-Rinse Sanitation System – a portable mobile-cleaning/sanitizing solution for franchisees;
Here’s what our early franchisees have to say about their first units:
Peter Shapiro, Lankenau Medical Center and West Chester University, PA
“It’s awesome for our family to have such a prestigious hospital as our first location -- and it’s right in the neighborhood where we all grew up. From the minute we rolled the machine into Lankenau, the robot has kept busy selling around the clock. People just love the product. It’s made by Dannon and people just go crazy for it. Once they learn it’s only 108 calories, they choose the yogurt over a Snickers bar,” said Peter Shapiro of Wynnewood, PA. “Most of our sales are actually in the evening but our day rush is still fairly strong. I’ve spent a lot of time at our location, watching customers and their interaction with the kiosk, and I’m happy with what I see.”
Michael Bingham, Texas Medical Center, Houston, TX
“We’re thrilled,” said Michael Bingham, whose Reis & Irvy’s robotic vending kiosk is installed at the Texas Medical Center. “Support from headquarters has been phenomenal. We’re on our second machine, a ‘second generation’ machine, which the company provided and installed on August 21st, replacing our existing “first generation” machine. It was certainly worth the wait to stop and get the production right - things are going very well right now.”
David D’Olympio, Canton Ice House, Canton, MA
David D’Olympio of Rockland, MA is proving that ‘froyo’ knows no boundaries with his first Reis & Irvy’s installation at Canton Ice House in Canton, MA, which features two NHL-sized hockey rinks. Home to several local area high school teams, an elite private club program, several local youth hockey programs and a premier figure skating club. “My robot has been working perfectly - no issues, no breakdowns,” David said of his Reis & Irvy’s kiosk installed on August 20th. “Already, kids will sit there and watch the robot and marvel at it. They come back with their parents. They love it,” David said. “Kids and other customers don’t touch anything besides the touchscreen and the local health department were shocked it was so easy to clean. It’s the first of its kind in Massachusetts and it took time for [the health department] to realize they had to re-write the rules.”
Kris Barlow, Oklahoma Christian University, Oklahoma City, OK
A former Quiznos franchisee, Kris Barlow isn’t new to the franchise business model, but is ecstatic about the low-maintenance, low-overhead opportunity provided by Reis & Irvy’s unattended, robotic technology. “I almost feel guilty how easy this is,” Kris said. “I spent just four hours the first week making sure I figured things out with the machine. It’s not difficult. It’s basically plug-and-play. “The cost of goods is controlled; there is very little cash involved thanks to the variety of payment methods accepted; and the break-even is so low I almost don’t have to think about it,” Kris added. “Most of our sales are actually at night. We do 70 percent of our business from 4:30pm to 8:30pm,” Kris said.
Full-Scale Production in October
“Q1 was an exhilarating quarter for Generation NEXT Franchise Brands ( VEND). We successfully booked over $11 million in franchise sales, and have additional booking commitments for approximately $129 million. I’m pleased to announce that the company is set to reach what is near full scale production of 150-200 units per month in October,” said Nick Yates, the company’s Chairman and Founder. “We are most excited about the fact that we are estimating recognizing revenues with 61 robots installed as of September 30th and the ability to continue increased installations as each week passes. We look forward to substantial revenue growth in fiscal Q2, profitability during the second half of fiscal 2019 and the news very soon of our second robotic vending concept that will complement our first. We will replicate this model almost exactly but, this time, with more experience as developers. We are better for the experience and will continue to capitalize with a large network and the right team in place.”
What impressed me from yesterday’s PR was that the franchisee from Houston was a partner in it. He already has one or more robots operational in Houston and they must be doing well for him to already be expanding his operations.
Alvie
See #1404 and 1505 posts. GordonFG is a franchisee who says his machines are doing fine. The Seeking Alpha article was a blatant hit job with false claims designed to drive the stock price down to allow the shorts to cover and the MM’s are complicit in dropping the price on small sells and then letting the shorts buy back w/o raising the price. There were some 350k stocks shorted as of the end of August and I expect most have been covered now and any bit of news will bring in some legitimate buyers which will lead to a rebound in the stock price. May have to wait until next week when, hopefully, VEND will announce September installations.
JMHO - Alvie
As Nationwide Rollout Gains Steam, Here's What Reis & Irvy's Franchisees Have to Say About Their New Businesses
GlobeNewswireSeptember 24, 2018, 7:44 AM CDT
SAN DIEGO, CA, Sept. 24, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE –
Generation NEXT Franchise Brands, Inc. (VEND) is forging ahead with a nationwide rollout of its robotic frozen yogurt and ice cream franchise, Reis & Irvy’s, and early reviews from franchisees, now up and running with their own unattended, robotic vending kiosks, have begun to arrive.
Here’s what they’re saying, in their own words:
Peter Shapiro, Lankenau Medical Center and West Chester University, PA
“It’s awesome for our family to have such a prestigious hospital as our first location -- and it’s right in the neighborhood where we all grew up. From the minute we rolled the machine into Lankenau, the robot has kept busy selling around the clock. People just love the product. It’s made by Dannon and people just go crazy for it. Once they learn it’s only 108 calories, they choose the yogurt over a Snickers bar,” said Peter Shapiro of Wynnewood, PA. “Most of our sales are actually in the evening but our day rush is still fairly strong. I’ve spent a lot of time at our location, watching customers and their interaction with the kiosk, and I’m happy with what I see.”
Michael Bingham, Texas Medical Center, Houston, TX
“We’re thrilled,” said Michael Bingham, whose Reis & Irvy’s robotic vending kiosk is installed at the Texas Medical Center. “Support from headquarters has been phenomenal. We’re on our second machine, a ‘second generation’ machine, which the company provided and installed on August 21st, replacing our existing “first generation” machine. It was certainly worth the wait to stop and get the production right - things are going very well right now.”
David D’Olympio, Canton Ice House, Canton, MA
David D’Olympio of Rockland, MA is proving that ‘froyo’ knows no boundaries with his first Reis & Irvy’s installation at Canton Ice House in Canton, MA which features two NHL-sized hockey rinks. Home to several local area high school teams, an elite private club program, several local youth hockey programs and a premier figure skating club.
“My robot has been working perfectly - no issues, no breakdowns,” David said of his Reis & Irvy’s kiosk installed on August 20th. “Already, kids will sit there and watch the robot and marvel at it. They come back with their parents. They love it,” David said.
“Kids and other customers don’t touch anything besides the touchscreen and the local health department were shocked it was so easy to clean. It’s the first of its kind in Massachusetts and it took time for [the health department] to realize they had to re-write the rules.”
Kris Barlow, Oklahoma Christian University, Oklahoma City, OK
A former Quiznos franchisee, Kris Barlow isn’t new to the franchise business model, but is ecstatic about the low-maintenance, low-overhead opportunity provided by Reis & Irvy’s unattended, robotic technology.
“I almost feel guilty how easy this is,” Kris said. “I spent just four hours the first week making sure I figured things out with the machine. It’s not difficult. It’s basically plug-and-play.
“The cost of goods is controlled; there is very little cash involved thanks to the variety of payment methods accepted; and the break-even is so low I almost don’t have to think about it,” Kris added.
“Most of our sales are actually at night. We do 70 percent of our business from 4:30pm to 8:30pm,” Kris said.
“The Camaraderie is Inspiring”
Nick Yates, Chairman of Generation Next Franchise Brands, described Reis & Irvy’s franchisees’ camaraderie as “inspiring.” "Franchisees who have robots installed across the United States and Canada are coming together to share their experiences, tips and advice with one another and the rest of our network. The feedback and support that franchisees are beginning to share amongst themselves, and the community that has been formed, speaks volumes to the product and program,” Mr. Yates said. “It’s also very easy to forget that one of the most attractive elements of our concept for franchisees is not just its exclusive nature, patented technology, diverse location opportunities and delicious product, but the fact that if a location doesn’t perform, it can easily be moved - with our support - to another location. That's something no brick and mortar competitor can claim.”
Reis & Irvy’s: Franchise Expansion Highlights:
Since its debut, Reis & Irvy’s has grown to over 280 franchisees across the U.S. and represents over 1,400 pending robot installations aggregating approximately $60 million, with additional contract commitments for over 3,200 robots worth an estimated $129 million ($189 million in total) in potential future revenues for Generation NEXT Franchise Brands, Inc. One of the company’s more high-profile franchisees, PGA Championship golfer Phil Mickelson, announced an interest in the company, signing a contract in June to deploy 30 Reis & Irvy’s locations in Southern California.
With $189 million in franchise and licensing contracts, Generation NEXT Franchise Brands, Inc. (VEND) is leading the way with frozen desserts, fully autonomous robotic delivery, visual and audio entertainment, and a unique retail experience. The robots also accept cash, credit cards, Apple Pay and Google Wallet, and the company is working on accepting cryptocurrencies such as Bitcoin for payment in the near future.
Good find Star18. Article referenced early machines from July and August and some of their problems. The machine I have bought yogurt from several times was having some early problems but these have been corrected and it was operating fine when I was there earlier this month
Author also figured machine needed to sell at least 40 cups a day to be sufficiently economical. GordonFG said his new machine was averaging 40 a day and operating satisfactorily.
Finally, author revealed he had a short position in VEND and I expect this biased his reporting in a negative way.
JMO. Alvie
I’m traveling and will be for the next week but I tend to agree with GordonFG that accredited investors, including some franchisees who opted to join the private placement and acquire shares at $0.50, may have decided to sell off some of them for whatever reason. As Gordon said things are going well and the PR from this morning also indicated that. JMHO.
Alvie
Is that in Cincy, GordonFG? Whereabouts?
VEND has released a video of the installation of a FroYo Robot at Texas State University in San Marcos, TX. Texas State has an enrollment of nearly 40,000 students and should be a good location, as will other University campuses, for the yogurt robot.
ROBOT Installation at Texas State University
Phil Mickelson talks about his investment in VEND:
insert-text-here
Another new member added to the Board of Directors - a sign that VEND is building a successful company. In my opinion, these people wouldn't be risking their reputation on a failing company.
Generation NEXT Franchise Brands, Inc. Announces Key Appointment to Board of Directors
San Diego, CA, Sept. 13, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Generation NEXT Franchise Brands, Inc. ( VEND) announced today the appointment of Chris Maudlin to the company’s Board of Directors. Generation NEXT Franchise Brands’ flagship subsidiary, Reis & Irvy’s, is the world’s first franchise of robot-staffed, fully automated frozen dessert vending kiosks.
Maudlin is Senior Vice President and National Director of the Private Client Group with Artivest, a premier provider of alternative investment and technology solutions headquartered in New York and San Diego. Maudlin brings more than 14 years of finance and investment industry experience to Generation NEXT Franchise Brands ( VEND). Prior to joining Artivest’s predecessor firm, Altegris, in 2009, Chris worked in investment advisory and wealth management roles with Merrill Lynch and Morgan Stanley. Maudlin holds a bachelor’s degree from the University of California, Davis, along with the Chartered Alternative Investment Analyst (CAIA) designation.
A Key Appointment
In joining the Board, Maudlin will serve as an Independent Audit and Compensation Committee Chairman, a key appointment for Generation NEXT as the company grows and looks to the future. The independent audit and compensation committee is charged with assisting the Board in its oversight of the integrity of the company’s financial statements and internal controls; compliance with legal and regulatory requirements and the company’s ethical standards and policies; preparing the audit committee report for inclusion in the company’s annual proxy statement; as well as oversight of executive and employee compensation and benefits.
The role is also a vital one as the company matures and strives towards a future up listing to larger capital markets with access to institutional investors.
“We’re honored to have Chris join our Board. We consider this a key appointment, one that demonstrates our commitment to implementing a Board that offers not just strategic investment but also corporate governance,” said Nick Yates, Chairman of Generation NEXT Franchise Brands ( VEND). “Chris has spent his career focused on the best interest of investors.”
“I’m proud to join the Board at Generation NEXT. I’m committed to the best interests of this transformative company and its investors as it reinvents food retail,” Maudlin said.
Completed Installations? Not that I have seen, but that would be a good addition to have. If you go to the website there is a contact page where you can input questions or suggestions.
Pending Installations was just increased from 1300 Monday to 1400 today (from 1275 last week). VEND is quietly going about its business.
I've checked out the new site several times and have come to realize that it is continually updating the number of franchisees, units and locations, not that all of those numbers change constantly but when one does it triggers an update on the home page. For instance, today I noticed that the number of Pending Installations changed from 1275 to 1300. Not sure if Locations Secured changed or not but I'm sure the Pending number did. Will pay more attention in the future.
I agree. It probably doesn't mean anything. As I understand it, most franchisees check/service their machines every day, and every week the machine has to be completely cleaned, so who knows when new cups are added.
Not sure whether that's a statement or a question.....
You may be right, JT, as I am mainly looking at the stock action over the last month and trying to arrive at a rational explanation for it.
From August 8 where the stock closed at 2.45 it has fallen 25%, with 10% decline since the August 31 close at 2.04. However, the average daily trading volume over that period was only 60k shares a day (excluding todays 232k shares traded), with the highest trade day being 124k on August 9. That's not a whole lot of volume and today's high volume reversal is significant IMO.
I can make a rational argument that after delivery of the first 15 robots and the discovery of a problem that caused them to stop future deliveries, this information was known to a significant number of people (franchisees who are also shareholders, employees of VEND and their partner companies, etc) and led to some people selling shares - not that many but more than enough to offset the daily buying volume and result in a declining share price.
The August 28 PR made public the halt of prior shipments, and noted that deliveries were starting again. However the 30+ day hiatus is going to have an effect on quarterly revenue and likely saw some holders selling, possibly with the intent of buying in later at a lower price. (I considered doing that but decided to just hold and see what news might be forthcoming in the interim.)
The buying late in the day today could be an indication that things are back on track, which is good news. Maybe I'm just looking through rose-colored glasses or I'm a born optimist, but I've talked this week with a franchisee who received one of the early machines and they are happy with the performance improvements and already working with the Compass Group to secure additional locations.
All just my personal and humble opinion.
Alvie
Hard to keep a good stock down - although the MM's tried. Will be interesting to see the short interest currently. It was 550,000 as of 7/31 (OTC).
In spite of 23k shares being bought early (and the 500 share sell at 1.69), the MM's kept the bid/ask in the low 1.70's most of the day. Buying started in around 3:20 and 75k shares bought in the last 40 minutes with 30k sold, but last minute selling (nothing wrong with taking some profits) brought the price from $1.92 down to $1.83.
With the high volume of late buying, wonder if there will be news Monday.....
Alvie
70k shares sold and 40k bought is not a lot of ship jumping. Some people do day trading in stocks like VEND (which I've done in the past but now I'm content to wait.)
Some back of the envelope doodling on this rainy afternoon in Texas:
With the VEND share price varying from the $2.50+ level a few months back when the major rollout of the yogurt machines was expected in the June/July period, to the recent low around $2.00 due to the delay until late August/September, it’s reasonable to ponder on what the share price might be 6-9 months from now if the rollout proceeds as currently scheduled.
While price/earnings is not a valid metric for a startup company that is not yet profitable, the revenue/share metric can provide some insight into the future share price. This is done by comparing the ratio of the price per share to the twelve-month revenue per share. This ratio varies from single digits or less for an early stage company that is not yet proven, to somewhere in the high teens or more for a fast growing company still in the early stages but with a proven revenue model (e.g. SNAP with a ratio of 14, GRUB at 15.5 or OKTA at 22.6), and finally settles into the single digits again as a company matures (e.g. 8 for MSFT, 5 for AMZN, 4 for AMD and 3 for DIS).
VEND currently has 64.6MM shares outstanding per Fidelity and anticipates $30MM of revenue between now and year end, or about $7.5MM per month as they roll out 750 units in the next 4 months, about 40+ per week (see their 8/28/18 PR). If that same rate of revenue growth continues into 2019 they will achieve a TTM of $7.5 x 10, or $75MM for the current fiscal year, or about $1.15 per share, assuming essentially zero revenue for the first two months of the year (July and August).
At a current share price of $2.07, the ratio relative to the anticipated revenue/share for the current fiscal year, is 1.8 ($2.07/$1.15). As VEND’s revenue model becomes more proven during the coming year, that ratio can be expected to continue to increase through the year. An increase from 1.8 to the range of 3-4 would result in a share price of approximately $3.50 - $4.50, which is a reasonable estimated range for the share price in early to mid-2019, in my opinion.
It is, of course, entirely dependent on Generation Next Franchise Brands executing their latest plan as in the PR of August 28. Any slowdown in the rollout will result in a lower share price, while continually increasing the units delivered per month (from 40/week currently) could substantially increase the share price above the range calculated above.
Bottom line, $3.50 - $4.50 is reasonable for some nine months from now but nothing is guaranteed. When their earlier goal was for 2200 units delivered by year end (March 2018) my estimate was ~ $5 at year end 2018, but that has now been delayed and depressed.
JMHO.
Excellent points, stargazer123!! Publicity based on misleading information, and omitting pertinent current information, is a tactic used by opponents who know they cannot win on true facts and that is why they resort to such one-sided drivel.
Reflecting back on an 8-K from 4/27/18, Yates and Budman were given the option of buying future shares at a price of $0.87 - 4,500,000 to Yates and 300,000 to Budman.
They can exercise these future options:
one half when 1200 units have been installed or there is $45MM of revenue
second half with 2000 units installed or $75MM of revenue.
Not sure of which option (units or revenue) will be achieved first, but Yates will certainly not give up on acquiring another 4.5MM cheap shares.
(I still have problems paying for bottled water and only use it when travelling, but yogurt and other products are a different matter)
But, following what you said about VEND's partnering with FLEX, Dannon and Pitney Bowes, an equally important partnership, in my opinion, is the one with Compass Group who will assist VEND in acquiring locations for placement of the robots. With 250,000 employees in the US, Compass Group will provide 'boots on the ground' support to the acquisition staff in the office in San Diego.
New Franchise - if you haven't already visited the Generation Next recently redesigned website, it's referenced at the end of the article: www.gennextbrands.com
Reis & Irvy's, Robot-Staffed Frozen Yogurt and Ice Cream Chain, Inks $3.2 Million Master Franchise Agreement in Dayton, Ohio
BY GlobeNewswire
— 8:08 AM ET 08/30/2018
Combined with Recent Columbus and Cincinnati Expansion, the Agreement Brings the Total to $17 Million in Master Franchise Contracts in Ohio Alone
SAN DIEGO, CA, Aug. 30, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -
Generation NEXT Franchise Brands, Inc. ( VEND) announced today that its flagship subsidiary, Reis & Irvy’s, has signed an exclusive agreement with master franchise rights for the robot-staffed frozen yogurt and ice cream chain in greater Dayton, Ohio, home to nearly one million people. The $3.2 million, exclusive territory deal includes 12 initial Reis & Irvy’s robotic vending robot kiosks along with an agreement and letter of intent for an additional 63 kiosks throughout the metro area as part of an agreement that secures the group’s exclusive rights to the greater Dayton area.
Metro Dayton is home to the University of Dayton, Wright State University, the National Museum of the United States Air Force at Wright-Patterson Air Force Base, the National Aviation Hall of Fame, and Dayton International Airport, which offers service to 21 markets through 10 airlines, serving 2.9 million passengers annually.
Jason Clock, the Dayton master franchisee, was originally attracted to the simplicity of the Reis & Irvy’s business model and the disruptive technology behind the company: “It’s not every day that a business opportunity comes along to get on the ground floor of a truly innovative technology. Once we experienced the Reis and Irvy’s robot in action and tasted a robot-served yogurt for ourselves, we jumped on the opportunity to secure exclusive rights to the Dayton metro area. This technology will be a game changer. With Dayton being a city of innovation for decades, we know it will be a success here. We are truly excited to bring this technology to our hometown.”
An Expanding Footprint in Ohio
Combined with recent exclusive agreements in Cincinnati and Columbus, Generation NEXT Franchise Brands, Inc. ( VEND) has secured $17 million in franchise agreements in Ohio alone:
Greater Cincinnati
On August 6th, 2018 the Company announced an $8.5 million, exclusive territory deal that includes contracts for 18 initial Reis & Irvy’s robotic vending kiosks along with an agreement and letter of intent for an additional 182 kiosks (200 total) throughout the metro area as part of an agreement that secures the group’s exclusive rights to the greater Cincinnati area.
According to the federal Bureau of Economic Analysis, Cincinnati is the fastest growing economic power in the Midwestern United States. The region provides a host of premiere location opportunities. Cincinnati is the home to the University of Cincinnati and three major sports franchises, including the Reds (MBL), Bengals (NFL) and FC Cincinnati (MLS in 2019).
Gregg Wilhelm, the Cincinnati master franchisee, was originally attracted to the simplicity of the Reis & Irvy’s business model: “There’s nothing quite like running your own business — it’s simultaneously rewarding, exhilarating and challenging. Reis & Irvys’ innovative franchise concept provides an opportunity to create great cash flow and to almost entirely eliminate overhead; this kind of flexibility is appealing. We are looking forward to a long and prosperous relationship with the folks at Reis & Irvy’s.”
Greater Columbus
On July 17, 2018 the Company announced a $4.2 million, exclusive territory deal covering the greater Columbus metro area. Ohio-based franchisee Ken Green, one of a group of private investors who will operate under the name Reis & Irvy’s Columbus, believes Columbus, the largest city in Ohio, as well as the home of Ohio State University, is the perfect place to launch such a venture: “We originally committed to 12 robots in Columbus, but after seeing the robot in action and tasting the yogurt, we knew we wanted to go bigger. The Reis & Irvy’s robot is a winner in so many ways – fun and entertaining, creative and disruptive, and supported by the partnership of Generation NEXT’s incredible team. Columbus is known as a food service test market and home to many food startups, and we are excited to bring this innovative new concept to our hometown!”
The $4.2 million, exclusive territory deal includes contracts for 18 initial Reis & Irvy’s robotic vending kiosks along with an agreement and letter of intent for an additional 81 kiosks throughout the metro area as part of an agreement that secures the group’s exclusive rights to the greater Columbus area, the fourteenth largest city in the United States, home to 2.1 million people.
Reis & Irvy’s: Franchise Expansion Highlights:
Since its debut, Reis & Irvy’s has grown to over 270 franchisees across the U.S. and represents over 1,375 pending robot installations aggregating approximately $57 million, with additional contract commitments for over 3,150 robots worth an estimated $126 million ($183 million in total) in potential future revenues for Generation NEXT Franchise Brands, Inc. ( VEND)
One of the company’s more high-profile franchisees, PGA Championship golfer Phil Mickelson, announced an interest in the company, signing a contract in June to deploy 30 Reis & Irvy’s locations in Southern California.
With $183 million in franchise and licensing contracts, Generation NEXT Franchise Brands, Inc. ( VEND) is leading the way with frozen desserts, fully autonomous robotic delivery, visual and audio entertainment, and a unique retail experience. The robots also accept cash, credit cards, Apple Pay and Google Wallet, and the company is working on accepting cryptocurrencies such as Bitcoin for payment in the near future.
For more information, visit the Reis & Irvy’s website at www.reisandirvys.com or call Toll-Free (888) 902-7558. Generation NEXT Website: www.gennextbrands.com
I think you meant 'consolidation', although there are times when 'consolation' has been appropriate....
May be a bit of confusion here. In post #1440 TheMonolith said "Machine installed at my grocery store! Looks great. I got one and it was really good. Little steep at $5, but not terrible. As I got one onlookers were amused and a 10 year old girl convinced her mom to get one. Nice to see the execution!" Then in reference to a comment made by another poster about the $5, he said he wouldn't buy again - but this was because of the perceived cost, not because of anything else, as far as I can tell. TheMonolith can clarify if he/she so chooses.
When the machine was installed in Houston at Women's Hospital my wife and I went and really enjoyed the product (both yogurt and sorbet). Later took daughter and grandkids (ages 24 and 27, so not really 'kids'.) They too were very impressed and didn't think cost was out of line, in fact commented that it would still be a bargain if the volume was a little less.
If you've ever purchased a latte at Starbucks or taken the kids to the Marble Slab for ice cream, I think you'll find that $5 for a yogurt with toppings is not overly expensive.
Generation NEXT Franchise Brands, Inc. Announces Robot Installations Across 32 North American Cities
BY GLOBENEWSWIRE — 15 MINUTES AGO
Company Updates its Goal to 750 Installations by the End of the Calendar Year Resulting in Approximately $30,000,000 in Revenue Recognition for the First Half of Fiscal 2019.
SAN DIEGO, CA , Aug. 28, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE - Generation NEXT Franchise Brands, Inc. (VEND) announced today that the company is ramping production and delivery of its proprietary Reis & Irvy’s robotic frozen dessert vending kiosks after a brief delay that forced the company to redesign two key components.
By mid-August, the company had successfully delivered 15 units to franchisees in twelve cities across nine U.S. states as well as the province of Alberta, Canada. “After these initial installations, our Franchisee Support Team, in close contact with our franchisees, made us aware of two separate issues. The first issue was that we identified candy toppings ‘ricocheting’ out of the dispensing chute, resulting in the toppings, in some cases, landing outside of the cup, this resulted in the second issue which was the spillage becoming visible in the base of the unit. As a result, we decided to pause production in order to resolve this issue, which involved the design, prototyping and manufacturing of a newly-designed candy dispenser and drip tray. After thorough testing, we’re confident the new components have addressed the issues, and both previous and existing installations have been upgraded with the new components,” said Generation NEXT Franchise Brands (VEND) Chairman and Founder, Nick Yates. “We believe we have passed our last design hurdle and we are now moving closer towards full-scale production.”
Locations, Locations, Locations
“We expect approximately 40 finished units to roll off the factory floor this week alone,” Yates added. “We anticipate these units will be delivered to franchisees in more than two dozen U.S. cities over the next 30 days or less.”
Notable locations scheduled for installation over the next 14 days include the Indianapolis Airport (Indianapolis, IN), Dallas Stars Hockey Club (Plano, TX), Houston Baptist University (Houston, TX), First Class Concessions at Fort Wayne International Airport (Fort Wayne, IN), University of New Mexico (Albuquerque, NM), Texas State University (San Marcos, TX), Gulfport High School (Gulfport, MS), Discovery Center (Boise, ID), Columbia Mall (Bloomsberg, PA), Groupon HQ (Chicago, IL), Bluegreen Vacations - Club 36 (Las Vegas, NV), Springfield Mall (Springfield, PA), Laserdome (Manheim, PA), Mockingbird Valley Indoor Soccer Club (Louisville, KY), Wayne State University (Detroit, MI), Oklahoma Christian University (Oklahoma City, OK), North East Mall (Hurst, TX), The Amazium (Fayetteville, AR), Porter Adventist Hospital (Denver, CO) and Quantum Leap (Johnson City, TN).
good to hear about additional installations and good feedback. Hope to hear more soon.
Crazy. I visited the website last week and now Reis & Irvy's adds are popping up on my screen, just like some of the majors do after visiting their sites!
Not sure I see the pattern you refer to but I agree, 2.04 is an excellent point to buy in. Personally got most of my shares at a cheaper price but have nibbled as high as 2.24, which I expect to be profitable in the not too distant future....
Alvie
I agree, failsafe, should add an element growth over and above what VEND can accomplish on its own.
Have you visited the updated website? New animations and additional information that wasn't there previously.
http://www.gennextbrands.com/
Hmmm, maybe the private placements of a year ago have been the source of recent selling as they come off of restriction.
In the company's quarterly of May 22, 2017 they included the statement about offering of securities to accredited investors. Then, on August 11 they submitted a SEC filing that 63 investors had participated in the private placement, followed by a Sept 11 submission to the SEC that 8,487,400 shares had been issued at a price of $0.50 each. As I recall, there were additional SEC submissions of placements at somewhat higher prices.
Many of those shares have probably come off restriction by now and some investors are probably taking some profits for whatever reason.
MM's are greedy. 9500 share sell marched the bid all the way down to $2.09.
It's a lot easier to go from $2.50 up to $3.00 on good news than it is to crawl your way up from $2.00, so the sooner the news the better. (Not that I'm impatient or anything....)
Someone just invested $50,000+ buying 23,300+ at $2.15 and the ask stayed the same. Guess the MM's have a pretty good inventory of stock at this level and it's going to take more concerted buying to raise the ask above $2.15....