Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
That bio doesn't belong to Nick Yates of GNFB. According to LinkedIn, there are 100 Nick Yates connections. Must be a more common name than I was aware of.
Wikipedia:
"Yates [of GNFB] grew up in Sydney, Australia and attended the University of Technology Sydney, earning degrees in both Business and Marketing."
Well, he said the ship was sinking and you know what happens when a ship begins to sink.....so I assume they may be available....
Good article, FroYoMan. Thanks for sharing.
Alvie
Generation Next Franchise Brands, Inc. Acquires Print Mates™, Expanding Company’s Unattended Retail Portfolio
BY GLOBENEWSWIRE — 49 MINUTES AGO
Wholly-Owned Subsidiary Offers Complementary Revenue Stream, Opportunity for Both the Company and its Franchisees
SAN DIEGO, CA, April 09, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Generation NEXT Franchise Brands, Inc. announced today that it has reached terms to acquire the assets of Print Mates, LLC, a small team of entrepreneurs, software engineers, and photography professionals in San Diego that are on a mission to reinvent the premium-quality photo printing experience by making it fast, fun, and inexpensive to get your photos “out of your phone and into your hand” with the Print Mates™ Kiosk.
Nick Yates, CEO of Generation NEXT Franchise Brands (VEND), said that the Print Mates assets will be held by a wholly owned subsidiary of Generation Next which will operate separately with its own facilities, staff, and resources. “It is extremely important to us that Print Mates, or any acquisition, is mature enough and has the right team, product and supply chain to operate independently, as a wholly-owned but separate subsidiary. For us, anything less would have been a non-starter,” Yates said, noting that the nationwide rollout of the company’s flagship unattended franchising concept, Reis & Irvy’s, has both his and Generation Next’s “undivided attention.”
“Print Mates™ is a turn-key subsidiary for us. The team, facilities, manufacturing and product fulfillment; everything is in place. The Print Mates™ Kiosk perfectly complements our product portfolio, and is ready to ship. The timing of the acquisition was designed to allow us to be first to market with a complementary unattended retail concept that is even more autonomous than our flagship Reis & Irvy’s kiosks, requiring only about 30 minutes per month in human maintenance,” Yates said. “The ultimate goal however is to own and operate thousands of these replicating the Redbox/Coinstar model and the team at Print Mates has already established relationships and tests with the country’s largest retail, convenience and grocery chains.
Generation Next is assuming the liabilities of Print Mates, LLC in exchange for the assets. There is no cash consideration being paid by Generation Next to Print Mates or any of its members. The assets acquired include five patent applications, complete engineering documents for the kiosk, customer contracts, supplier agreements, intellectual property, and proprietary software. A contract with a Canadian licensee with a commitment to purchase $7,000,000 of Print Mates Kiosks over a 5-year term is part of the assets acquired by Generation Next. The liabilities assumed by Generation Next net of kiosk inventory value are approximately $300,000.
An Unfulfilled Demand in a Billion Dollar Industry
Due in large part to consumers’ adoption of the smartphone, at least 1.5 trillion photos are estimated to have been captured in 2018. Predictions to 2022 continue to show a compounded annual growth (CAGR) in that figure of greater than 10 percent, so that by 2022 the number of photos captured annually will grow to over 2.3 trillion. Print Mates™ is an innovative new way to monetize consumers’ craze for the phone camera.
Print Mates™ unattended kiosks are designed to reinvent the premium-quality photo printing experience by making it fast, fun, and inexpensive to get your photos “out of your phone into your hand,” while creating a low-to-no maintenance, extremely high margin business opportunity in unattended retail for entrepreneurs and retailers. Recent consumer research reports show that consumers in every age group – from tweens to Millennials; from Generation X to Baby Boomers – still desire to preserve their most cherished memories in high-quality photo prints. But until now, professional-quality, third party services that turned digital photos into prints were either too inconvenient, too slow, or too expensive for today’s consumer.
Print Mates™ easy-to-use, patented touchscreen kiosks are promising to close the loop on the consumer photo lifecycle, as well as drive much-needed foot traffic to traditional brick-and-mortar businesses ranging from supermarkets, grocery and drug stores to big box retailers, shopping malls, family fun centers, convenience stores, hotels, airports, and more.
The Print Mates™ Kiosks put reliable and quality photo printing at customers’ fingertips while allowing independent operators and business owners to earn a very high margin from each sale. Customers love using the Print Mates™ Kiosk because they can instantly, easily and cost-effectively print high-quality photos directly from their smartphones or through their favorite social media (Facebook, Instagram, Google Photos, Dropbox, and Flickr) photo sharing, or cloud storage accounts in six different sizes of prints in just seconds.
Consumers can also conveniently order decor and other photo products, gifts and accessories ranging from frames, picture books, posters, jumbo-sized prints, and fridge magnets to beautiful canvas and wood prints and have them conveniently shipped to their home with just a few taps. A soon-to-be-released software update will also add an option for passport photos, a product many retailers are asked for daily.
“The team at Print Mates is solving another problem with a simple, unattended retail kiosk solution,” Yates said. “We all have hundreds, if not thousands, of photos stuck in our cell phones and stored on social media accounts like Facebook and Instagram. The only reason most of us don’t print them is because we don’t have a convenient way to do so, staring us in the face,” Yates continued. “Print Mates kiosks can be placed in any number of location categories, from grocery chains to hotels and big box retailers, just to name a few. And the kiosks earn extremely high margins on each sale with some products on the kiosks’ menu selling for as much as $125 dollars. The team at Print Mates has secured agreements to test the kiosks in some of the largest grocery, convenience and big box retail chains across the U.S., representing tens of thousands of potential locations, and our plan is to provide Generation Next, our shareholders, and our franchisees the exclusive opportunity to own, operate and share in the revenue provided by this extraordinary product,” Yates concluded.
Print Mates™ location partners will be supported by a unique marketing program that leverages Google Business to drive consumers in real time directly to their machines whenever they need to quickly and conveniently print their photos. If a customer types “photo printing” in to the google search engine, it will point them to the closest Print Mates retailer. The strategy will be paired with a national regional marketing program to create awareness of the Print Mates™ brand.
Item 404 of Regulation S-K requires disclosure of any transaction over $120,000 in which the Company is a participant and any related person has a direct or indirect material interest. “Related persons” include directors, nominees, executive officers, five percent shareholders and their immediate family members. The present acquisition of the assets of Print Mates, LLC is a related party transaction as the sole member of Print Mates, LLC, Franklyn Yates, is an immediate family member (Brother) of Nicholas Yates, the CEO and Chairman of Generation Next Franchise Brands, Inc. (VEND) The transaction has been duly authorized by the Board of Directors of the Company who have been informed of the related party interest.
When you say 'bought' or 'purchased, are you referring to future commitments? Many of these deals involve the 'purchase' of a certain number of machines and a 'commitment' to buy more in the future.
VEND mentioned in article below:
VEND
Neither have I - maybe overly busy answering questions?
I think the jury is still out on Printmates. Seems VEND acquired it by only assuming liabilities with no stock dilution. From looking at the Printmate website a few weeks ago when this first came up it appeared that the product was fully developed and ready for distribution. If VEND can do that it may be a near term addition to revenue. With the FroYo problems now under control and production on the increase this may have freed up some staff to look at other vending products.
I used $50,000 as an even number with the 800 kiosks, assuming some would be at the original $38,000 and some at the newer $58,000. Using $38,000 with 800 kiosks would result in revenue of $30,400,000 instead of $40,000,000.
As you said, "Start selling those $58,000 kiosks they are signing up instead of the multitude of $38,000 sales they have in their pipeline;
Production Ramp-up and Underground Exploration Drilling Campaign on Track
Date :
04/03/2019 @ 5:44PM
.
.
.
"As the mine continues to sequence through a lower grade area of the Valley of the Kings, all stopes above cut-off grade of approximately 5.0 grams per tonne gold are being mined as they become available for production. Accordingly, gold grade is expected to average approximately 10.4 grams per tonne over the course of 2019; both grade and tonnes are expected to be higher in the second half of the year. "
Seems word may have gotten out early again and this may be the reason for the decline in share price over the past few days???
"Turning to the first six months of the next fiscal year, their projected revenues look as though they would produce gross profit of maybe $2.4 million at the high end"
Not sure how you are going from revenue to gross profit. If they make the high end of their estimated kiosk installations (600 to 800 per their March 26 PR), and using $50,000 per kiosk, revenue from kiosk installations alone would be some $40MM for the first six months of the next fiscal year.
SAN DIEGO, CA, April 03, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Generation NEXT Franchise Brands, Inc. (VEND) announced its monthly report for March today. The report is part of a continued effort to keep all Company stakeholders better informed of key operating metrics.
Key highlights and metrics for March:
Booked 25 new Reis & Irvy’s franchise commitments worth $1.5 million in deferred revenue (averaging $167,768 per franchise sale and $56,168 per robot sold).
Recognized revenue of $1.2 million from 31 installations at an average of $38,000 per robot.
Secured 50 new locations for Reis & Irvy’s kiosks - a new single month record for the company; 7 locations were allocated to the robot investment fund - 19 Degrees Corporate Service LLC.
Added 11 units of 19 Degrees Corporate Service which resulted in collecting $173,514 of investment to be used for the purchase and installation of robots.
As of April 1st, 2019 the Company has sold a total of 61 units of 19 Degrees Corporate Service LLC, resulting in $1.2 million invested.
“We are very pleased with the rate in which we are securing new locations and even more pleased with the quality,” said Nick Yates, the CEO and Founder of Generation Next Franchise Brands (VEND). “We are learning quickly what works and what doesn’t and are putting a lot of effort to ensure the franchisees will benefit from the feedback we receive from every installation, no matter the category. April is set up nicely for a combination of significantly higher franchise sales, new locations procured and most importantly increased installations.
We anticipate installing 60 to 70 units during April which will result in recognizing approximately $2.3 million - $2.7 million in revenue for the month.”
"I'm shocked nobody seems to care."
What would you propose be done about the trading? Do you perceive it to be illegal?
Didn't see anything in the Annual Report that wasn't already known information. Looks like they continue to execute their plan to increase plant throughput.
Looks like Art's illness finally led him to retire completely. He had given up his CEO post and now his CFO duties.
Generation Next Names Ryan Polk as Chief Financial Officer and Chief Operating Officer InvestorsHub NewsWire - 4/1/2019 8:03:26 AM
NEW CFO at GENERATION NEXT
Will be interesting to see what the March installations are Monday or Tuesday and whether they meet or exceed expectations.
If you go to otcmarkets.com and enter vend you can see the real time bid and ask by the MMs. Right now 4 MMs are offering stock at 0.63, a total of over 20,000 shares. Only one is bidding at ‘0.62 and for only 1000 shares. Helps to give some perspective.
Sonata, you need to understand how the market works. Market Makers built up a lot of inventory at 0.60 and below. (Their role is to assure an orderly market for buying and selling so if there is an absence of buyers they will purchase the shares themselves at a price that they think they can later sell at a profit. There are a dozen MMs offering to buy and sell VEND shares, although only 4-5 are active at any given time. ) If they don’t anticipate major news soon that would drive up the share price significantly they’ll take their few cents a share profits and move on to something else rather than wait around for a higher price, especially if the particular shares are not very actively traded. They’re pretty ADHD and won’t sit around waiting.
About 30 minutes before closing an MM was offering 50,000 shares at 0.63. Over the past few days several MMs have offered 30-50k shares at the ask while offering to buy very few at the bid. It’s going to take a major news announcement to generate several hundred share buys to drive the price up significantly. Maybe it will happen soon, maybe not.
They use an 'average' of 60 cups an hour, which was ok in Feb, I believe it's higher now because when they update the total it's usually by a significant amount. Not sure why they don't just raise the 'average' but it's probably easier to just adjust the total every few days. Not sure. Andrew said it would be actuals 'soon'......
Pretty neat. Unfortunately it’s only pseudo real time. I noticed it a few weeks ago but then realized it was always the same cups per minute no matter when I checked. Sent Gen Next an email and Andrew Beach replied that they were still perfecting it and in the meantime using average cups per hour in their updates. Every once in a while they will update totals to actual. Waiting.
The student reporter has done a significant amount of work detailing the background of Generation Next and its predecessor Fresh Healthy Vending. It is all public information and most of it came from a single source. By not being more thorough, the student reporter has made a number of misleading statements. For instance: "Today, Fresh Healthy Vending is banned from selling franchises in the states of Washington and California".
Not true. There was a Stop Order from 2014 to 2016 while FHV developed and implemented a compliance program and engaged an independent monitor to review and report the compliance activities. The Stop Order ended with the submission of the independent monitor report in 2016. Similarly, for the state of Washington. I have been an investor since January of 2014 and 'witnessed' the Stop Orders and their recission as FHV complied.
Any investor who did DD should have been aware of all of the background on FHV and Nick Yates. Whether most of the missteps were intentional or due to lack of knowledge/experience is debatable. IMO, the current VEND/R&I operations are above board, even allowing for the early overly optimistic forecasts of the number of machines that could be installed with time. Current operations and forecasts are much more realistic IMO.
And the FroYos at Haverford and West Chester University appear to be operating successfully and being enjoyed by the students.
Oops - date at end of 3rd paragraph should have been 2020 and not 2010 - but I'm sure all of you were astute enough to realize that.
Been thinking more about VEND’s future development plans and they are beginning to make a bit more sense to me. This is purely speculation on my part.
The ‘Small’ machine that was pictured appears to be a development by Stoelting (note their name on the machine) designed for manned locations just like the large machines (not the FroYo robots but normal machines for installation in a yogurt shop) they manufacture. But it is a slimmed down version with just two choices of yogurt and no toppings. It seems you need to obtain a cup from someone and then go slide open a door, insert the cup and then close the door again. Then you select what you want and pay for it and the machine dispenses it.
I expect that VEND’s intention is to upgrade it to a fully robotic version that might be installed in a location with less foot traffic than required by the current robots, say a 7-11 store or gasoline food service location where the operator isn’t qualified to maintain and clean/sanitize the Stoelting semi-automated machine. With the delay in manufacturing the current FroYo robots it makes sense that this wouldn’t be their focus until 2010.
On the other hand, the Print Mates may be a good option for them to concentrate on in the meantime. It appears they are already developed and ready for service, perhaps lacking a sales force that is capable of obtaining locations for the machines. Maybe VEND is supplying that expertise to Print Mate in return for a share of the revenue. And there could be a synergy with the FroYo robots. For instance, if a Print Mate were located near a FroYo at the Space Center where groups come to enjoy the Center, whether or not they buy a yogurt, they probably have taken pictures of their activities and could be enticed to print some of them out to share with others in the group. Or a game center. Same with a hospital where there is a new-born baby and someone wants to print pictures from their iPhone to share with the rest of the family. There are probably a number of locations that would be synergistic with FroYo and PrintMate which would supply an additional revenue stream for VEND.
Just my speculative ramblings but I’m beginning to warm up to the Product Development Road Map from the March 14 presentation.
Any future development depends on R&I executing what was shown on the earlier slides of the presentation, i.e. increasing installations to 100+/month now and having the second production line working by July 2019.
Independent Counsel Concludes Pretivm-Initiated Investigation
VANCOUVER, British Columbia, March 21, 2019 (GLOBE NEWSWIRE) -- Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”) reports that independent legal counsel and a consultant retained to investigate recent trading in its shares have reached two clear, main conclusions. First, the investigation found no evidence of an information leak by the Company. Second, there is evidence of instances of market manipulation in trading of Pretivm shares by an outside party or parties. The findings of the investigation, summarized below, have been turned over to the US and Canadian securities regulators for possible further action relating to the evidence of market manipulation.
Pretivm initiated the external investigation into unusual trading of its shares
Pretivm engaged independent legal counsel to examine unusual trading activity in its shares leading up to its news release dated January 9, 2019. The investigation comprised an examination of a) Pretivm’s internal and external communications, and b) trading in Pretivm common shares and derivatives. Independent legal counsel was provided with complete and unrestricted access to all Pretivm internal and external communications for the review.
No evidence of information leaks from Company
The independent investigation of Pretivm’s communications found no evidence of a leak of confidential information to market participants. In addition, Pretivm’s disclosure policies and procedures were reviewed and found to be compliant with all applicable laws and in conformance with best practices. As a result of the investigation, the independent legal counsel recommended minor revisions to the Company’s policies and procedures. These recommendations have been adopted by the Company.
Evidence of market manipulation through abnormal, high volume sell-side common share order cancellation during trading; sharp rise in open interest of short-dated put options leading up to September 6, 2018
As part of the investigation, the independent counsel retained a consultant to examine the trading in Pretivm’s shares and derivatives leading up to Pretivm’s January 9, 2019 news release, and additionally for trading leading up to and including September 6, 2018 when Pretivm’s share price decreased sharply. In the opinion of the independent consultant, there is evidence of market manipulation in trading of Pretivm shares based on a review of executed, created, cancelled and outstanding sell orders in Pretivm’s shares during both periods of review. In analyzing trading in Pretivm’s shares, the consultant identified an unusually high volume of odd-lot orders, and patterns of massive blocks of sell orders created and cancelled in rapid succession (within the same second) below and above the best offer. In one key finding in respect of the abnormal volume of order cancellations, on September 6, 2018 sell orders for over 700,000 PVG shares were created and cancelled within the two, one-minute intervals between 11:45 AM and 11:47 AM EST. (By way of comparison, sell orders for an average of 4,297 PVG shares were created and cancelled for each minute of trading between July 1 and July 31, 2018.)
In reviewing PVG option trading from August 1, 2018 through to September 5, 2018, the consultant identified an unusually sharp rise in both the put-to-call ratio and short-dated put to long-dated put ratio leading up to the share price drop on September 6, 2018.
Reports forwarded to US and Canadian securities regulators for possible further action
The independent legal counsel retained by Pretivm has completed its investigation into the trading of Pretivm shares, and has forwarded all reports to US and Canadian securities regulators. Pretivm will cooperate with the securities regulators to its fullest extent in their review of trading in shares of Pretivm.
Looks like one of the MM's let the remaining shorts off the hook by keeping the ask at 0.60 until after 75,000 shares traded, predominately buys......
VANCOUVER, March 12, 2019 /PRNewswire/ - Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE American: NAK) ("Northern Dynasty" or the "Company") announces that it has entered into an agreement dated March 12, 2019 with Cantor Fitzgerald Canada Corporation, as lead underwriter and sole bookrunner, on behalf of itself and a syndicate of underwriters including BMO Capital Markets, H.C. Wainwright & Co., LLC. and TD Securities Inc. (collectively, the "Underwriters") to purchase, on a bought deal basis, 15,625,000 common shares of the Company (the "Offered Shares") at the price of US$0.64 per Offered Share (the "Issue Price") for aggregate gross proceeds of US$10.0 million (the "Offering").
In addition, the Company has agreed to grant to the Underwriters an over-allotment option (the "Over-Allotment Option") exercisable, in whole or in part, in the sole discretion of the Underwriters to purchase up to an additional 2,343,750 Offered Shares at the Issue Price for a period of up to 30 days after the closing of the Offering for potential additional gross proceeds to the Company of up to US$1.5 million. The Company has agreed to pay the Underwriters a cash commission equal to 6% of the gross proceeds of the Offering, including proceeds received from the exercise of the Over-Allotment Option.
The Offering is expected to close on or about March 18, 2019 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the NYSE American. Proceeds of the Offering are anticipated to be used for (i) operational expenditures, including engineering, environmental, permitting and evaluation expenses associated with the Pebble Project and the advancement of completion of the United States Army Corps of Engineers Environmental Impact Study, (ii) enhanced outreach and engagement with political and regulatory offices in the Alaska state and U.S. federal government, Alaska Native partners and broader regional and state-wide stakeholder groups, and (iii) for general corporate purposes. It remains the Company's goal to partner the Pebble Project.
Just a comment on short interest, which is at its lowest point that I can recall - 83,584 as of 2/28/19, some 30,000 less than the 1/31/19 number (113,627) and down a whopping 244,000 from year end 2018 (327,116).
I have done that with that question as well as several others - no response as of yet. Did hear from Andrew Beach about a question I had on their FroYo page with the update on cups sold and revenue.
Good analysis, Officious. I believe they will be able to limp along with the installation rate they have projected for the next few months, possibly with another short term loan from NY if necessary, while revenue increases to where they are self sufficient.
BTW, I wouldn't put stock in the web numbers, they have been unchanged for the past few months. I suggested to the company that they update them at month end when they publish new numbers, or at least put a date on the page to say when the numbers were applicable.
As Sonata said, it will take a few months of proving they can execute the current plan before investors will get back on board.
You could be right about taking several months to reach $1. The company today has roughly 200 robots and expects to have 300 by end June, a 50% increase, which should support a stock price of $1 or more.
If they can execute on their July to December plan they would have some 900 or more robots installed by year end 2019, three times the June 30 number, which should support a price of over $2, IMO.
The key is executing the plan!
Watching the video from Discovery Science Channel of Stoelting’s frozen yogurt delivery technology brings to mind a question I have pondered before – why did VEND not use Stoelting to build their Robot Kiosks since Stoelting had built the robots used by Robofusion on whose performance VEND based their buyout of Robofusion (frozen yogurt technology and patents, not the company itself)?
I don’t have any input from anyone who might have the answer to that question so speculating on an answer is entirely speculative, but nonetheless interesting (to me, at least).
It’s difficult to know the size/capabilities of the Stoelting manufacturing facility because it is a privately owned subsidiary of The Vollrath Company, LLC. Based on VEND’s latest PR it appears that Stoelting will be supplying R&I with 600-800 robots over the last 6 months of this calendar year, about 100-130 per month, a sizeable number, which could maybe be increased in the future, possibly doubled to 200-250 per month(?).
However, as VEND was planning their original rollout of the robots, as presented in an investor information package from March 2018, they envisioned installing 2250 robots between April 2018 and the end of the year, and up to 8000 total installations by the end of 2019, targets that ultimately proved wildly optimistic, of course. Achieving those targets, though, would have required manufacturing on the order of 300 robots a month in 2018 and up to 500 per month in 2019. I expect that these levels exceeded Stoelting’s capabilities and may have been what caused VEND to seek out a larger company to manufacture the robots, ultimately selecting FLEX.
I don’t know what experience, if any, FLEX had in manufacturing machines of this type, as opposed to the Redbox units, but based on the Discovery Science video there appears to be a great deal of specialized technology required to maintain and deliver frozen yogurt properly. Additionally, FLEX apparently went through a difficult time in 2018 based on their stock declining from the level of nearly $20 per share in early 2018 to less than $7 per share in October of 2018. It’s probable that a small new customer like VEND would have no priority in having their problems addressed by FLEX in comparison to their larger long term clients, such as Nike, Google, Xerox, Ford and General Motors (who recognized FLEX as Supplier of the Year in 2017).
Now it appears to be full circle back to Stoelting in 2019 and I believe this will be a good partnership for R&I, its franchisees and investors. Just my speculative opinion.
SAN DIEGO, CA -- March 4, 2019 -- InvestorsHub NewsWire -- Generation NEXT Franchise Brands, Inc. (OTCQB: VEND) announced its monthly report to stakeholders for the month of February today. The report is part of a continued effort announced last month to keep all Company stakeholders better informed of key operating metrics and in a transparent environment.
Key highlights and metrics for February:
Booked 41 new Reis & Irvy’s franchise commitments worth $2.2 million in deferred revenue (averaging $319,745 per franchise sale and $54,585 per robot sold).
Monthly revenue of $228,000 resulting from the installation of 6 robots at an average of $38,000 revenue recognized per robot.
Secured 47 new locations for Reis & Irvy’s kiosks.
In January, Generation Next announced the launch of 19 Degrees Corporate Service LLC (“19 Degrees”) to provide Reis & Irvy’s robots to locations outside of existing franchise territories and provide a structure to investors to own robotic frozen yogurt vending kiosks operated by the Company in return for passive income. In February, the 19 Degrees subsidiary:
Added 22 units of 19 Degrees which resulted in the Company collecting $291,000 of investment to be used for the purchase and installation of robots.
Secured seven new locations for 19 Degrees.
As of February 28th, the Company has: sold a total of 57 units of 19 Degrees, resulting in $1.0 million invested; secured 78 locations which are scheduled for installation between April and June 2019.
“We’ve received positive reports from our franchisees and locations about the performance of Reis & Irvy’s during February,” said Nick Yates, CEO of Generation Next Franchise Brands. “Our engineering solutions and manufacturing improvements are having the impact we expected. Our month-over-month results will continue to improve as we finish upgrading existing kiosks and gradually increase the pace of our new robot installations.”
Generation Next and its franchisees discovered defects in the first batch of kiosks assembled and installed during the second half of calendar year 2018, resulting in a production halt that persisted until late February, when the Company resumed kiosk production and began upgrading existing kiosks with redesigned hardware and software. February installation numbers were negatively impacted as a result of this production halt.
Yates recently received this note from a Houston franchisee regarding the upgrades:
“Nick,
Improvements have been observed in recent testing of the 0.71 software, along with Stoelting firmware updates, on one of our machines with a history of HVB Errors. We have been monitoring consistencies and temperature cycles as compressors cool the cylinders and then the hoppers, all working as would be expected. The units do not seem to be over-working, as they were in the past. This appears to be a good collaboration between Stoelting and ReThink. Thanks!
Regards,
Michael and Michelle Bingham”
From March through June 2019, the Company estimates it will install an additional 100 to 150 robots bringing the total robots installed for the fiscal year ended June 30, 2019 to between 290 and 340 with annual revenue recognized of $11.0 to $12.9 million. From July to December 2019, Generation Next expects to install 600 to 800 additional robots and recognize between $22.8 and $30.4 million in revenue.
Good point, I didn't catch the Canadian $.
Pretium Resources started at buy with $19.35 stock price target at B. Riley FBR
MarketWatch – 03/01/2019
On a recent episode of Machines: How They Work, the Discovery Science Channel took an inside look at Stoelting's F231 Gravity Soft Serve/Yogurt Freezer.
Filmed at Stoelting’s headquarters and manufacturing plant in Kiel, Wisconsin, the episode reveals with computer generated imagery, or CGI, how the numerous F231 machine components are built, assembled and tested. The episode also highlights the F231 in a real-world application by exploring a Menchie’s Frozen Yogurt shop in nearby Manitowoc, Wisconsin.
http://stoeltingfoodservice.com/Stoelting-Food-Service/Machines-How-They-Work.htm?Layout=PrintPage_Stoelting.ascx&FB_Values=&&&
NOTE: This is not the Robot Kiosk, but the yogurt technology is similar. To view the video you will need to download Adobe Flash
FroYoMan,
Regarding when you contracted and made a down payment for your machine(s), you said: "I gave them mine last March." Have you received any info from the company about when your machine(s) will be delivered?
Thanks,
Alvie
Thanks, good information. Hope that the number of installations in February is up from January and continues to increase.