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Sonata, if you are so convinced that the company is going to fail, why don't you sell your shares (including the 5 that you are owed by doesitreallymatter ) and move on. You're just exacerbating your depression by remaining and spewing regrets for having ever invested in the first place. Sell and go to the sidelines like some of the other posters where you can comment without being so emotionally involved. For my part, I'm content to wait and see how it all plays out. If it's as you say, I'll lose some money but it won't be the end of the world. jmho
There was power to the machine and it was working fine but for some reason the cash system wasn't working. The franchisee who services the machine has had 4 others for the past year (just celebrated their 1 yr anniversary) so knows what they were doing. The reason the lights were out was this was the next morning as the store was opening - the machine was functional as far as keeping the product cool but internal lights had not been turned on. Sign had been put there the previous day. Franchisee came later that day and cleaned and serviced the kiosk. All was and is good.
"Ever hear anything about 160 units?"
My 'understanding' (if Sonata will pardon my use of the term), from an individual who seems to be in the know, is that VEND is in possession of 140 of the machines with the last 20 still at FLEX.
doesitreallymatter, the sign referenced the fact that the cash system was temporarily offline due to the storm (Imelda, which dropped 30-40 inches of rain on that area) and the robot was only accepting credit cards for payment.
You can sign your 5 shares over to Sonata to relieve some of his angst....
BTW, the store manager asked the franchisee who serviced the machine, "What do you put in the yogurt, people just seem to be addicted to it and can't get enough of it", or words to that effect
I know the franchisee who services the HEB and I’ll ask tomorrow. She is the one who told me about it today and said they had serviced it Sunday so I doubt it was out of order.
A Facebook story today highlighted an HEB store in Mont Belvieu, TX (off I-10 east of Houston) that was donating supplies to help the people in flood ravaged Winnie. One of the pictures inside the HEB showed the R&I kiosk in the background. I'll post a link to the story (rather long) as well as the in-store picture. Picture was taken in the early morning, not even sure that the store was officially open yet.
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Excellent presentation, thanks for posting. Especially liked the case at $1500/oz gold!!
As I said in my previous post, where Sonata accused me of just making excuses for the company, they also had to get individual county permits and modify the machines to meet the CDPH requirements - which is consistent with what Ryan told Sonata where deliveries would not begin until October.
An alternative thought about the 160 kiosks in inventory...maybe they are being held for deployment in California as all state and local permits are issued. From Sonata's phone conversation with Ryan a month or so ago, Ryan said California deliveries would begin in October. Also, I recall hearing or reading somewhere that the California kiosks required some modifications from those being delivered to other locations. Don't know what that modification is, if even required, but maybe the 160 are undergoing modification before shipment to California locations. jtol (Just thinking out loud)....
Maybe it will precede a positive PR following today's $.49 increase....
Looks like this has been 'speculation weekend' with nothing based on any fact, only speculation. And consensus speculation doesn't make it factual.
Speculating a bit myself, I would speculate that FLEX wouldn't manufacture 160 kiosks if they weren't getting paid after the first 10 or 20. Would they just keep going and churn out another 140-150? I doubt it.
Besides, it's my understanding that FLEX demands 100% payment in advance before manufacture of any kiosks.
What is the status of the 160 kiosks? I have no idea but I asked the company that question last week. Haven't received an answer as of yet, and if I do I likely won't share it on this board. It may be non-public information but if the company chooses to share it and I don't act on it it's not a problem, imho.
May nit-pick with you on a few items but can't argue with you on most, except for your final statement that the end is near. Next few months will be critical in getting over the hump but I'm still optimistic about the future. jmho
Alvie
From:www.food-management.com
News & Trends>Healthcare
Yogurt robot a sweet no-fuss treat at Robert Wood hospital
Robert Wood Johnson staff can enjoy customized frozen yogurt 24/7 thanks to a sophisticated, automated unit.
Mike Buzalka | Aug 15, 2019
Frozen yogurt is one of those healthy but delicious treats that appeals to just about everyone, except perhaps dining operators who have to keep the machinery clean and sanitary while allocating labor hours to serving it.
None of that is a problem for the in-house dining team at Robert Wood Johnson (RWJ) University Hospital in New Brunswick, N.J., thanks to an automated frozen yogurt “robot” installed three months ago that doles out servings of chocolate and strawberry frozen yogurt with a choice of half a dozen toppings such as chocolate and rainbow sprinkles, peanuts, M&M’s, Reese’s Pieces and Fruity Pebbles 24 hours a day and seven days a week. There are two portion sizes, and each offers a choice of two of the available toppings.
"It’s pretty much like a vending machine, but it’s the coolest thing,” enthuses Tony Almeida, RWJ’s director of food & nutrition.
Almeida says he’s gone through the frustrations of maintaining sanitation and enduring lost parts and whatnot with traditional, manual frozen yogurt units because he wanted to offer his customers the cool, tasty treats. Those problems are now history with the robot units because its vendor, Reis & Irvy’s, takes care of replenishment and maintenance.
“All we had to do was give them a space of about six feet by four feet with a 220V outlet,” Almeida says. “We had a little space in a corner of the dining room, so we put it in there and our only expense was running the 220 line. They do the rest—they come in and clean and sanitize the machine and they deal with the Department of Health.”
Because the unit is in a seating area that remains open at all hours, it is always accessible. It transmits transaction data to the vendor, so they know exactly what is selling and when, and when it needs to be replenished. Customers can use either cash or a credit card.
“They asked us to put it in a location that has 24/7 access and it’s really cool because it lets our second and third shifts have access to it too,” Almeida offers. “It’s funny to watch people go over there and see it work. It’s like a little novelty.”
The revenue isn’t huge. RWJ gets 15% of sales on an average of 35 transactions a day, which are five to six dollars apiece, “but then I have nothing to do except collect the money,” Almeida laughs.
“[The vendor]’s happy, I’m happy and the customers are happy,” he summarizes. “It’s a cool little addition that to me looked like a no-brainer, to put in a vending machine for yogurt.”
https://www.food-management.com/healthcare/yogurt-robot-sweet-no-fuss-treat-robert-wood-hospital?fbclid=IwAR2DvSfE3e6V1kSlZDFnOq5cAlolslmkPBLEhaJkyUud9YOePiyEZcDLrvM
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I guess you treat it in whatever manner you wish to.
If they are generally leaning positive and some bit of info is encouraging to them, it's a question of whether that might be considered "material" or not.
"...material inside information..."
That's the key word. If Sonata, who's not on their Christmas card list, can call the company and get information (not material) that's not public, it's a sure bet that major investors can call and get general info, such as whether this month is looking better than the last, is the new supplier beginning to make deliveries, are talks going well with Walmart, etc.
I talk with other investors, franchisees, and some who have taken the private placement and they generally have information about things (not material) that are not public, especially the franchisees who regularly receive updates. From the feedback I receive I interpret as things are going well and the company is making progress (however you want to interpret that).
July results were announced Aug 8, so maybe tomorrow?
Doubt they will file a quarterly report for Q4. Last year they reported Q4 as part of the Annual report (delayed until mid-Oct.)
Maybe they'll even skip monthly reports as part of the cost cutting and only report quarterly, as most other companies do. Seems their attempts to report frequently (real time installations, real time yogurt sales, etc) didn't go particularly well. Even milestone yogurt sales, e.g. 500,000 cups, have been discontinued (unless they are waiting for 1MM) and the website hasn't been updated for installations since July.
Just wondering.....
Rapid fall off today. Down $1 on 1.3MM shares in just over an hour - nearly 8%.
Gold down less than 1%. Problem at the mine?
I'll let the 'experts' continue to speculate on the demise of VEND. One significant point to me is that there are many investors holding hundreds of thousands of shares that are close to the company and actually know what is going on and none of them are selling shares. So I'll wait for real news.
Good discussion by Thiessen, especially (for me) the comments on the number of watersheds feeding the salmon fishery and the small fraction of what Pebble could affect and the steps they were taking to minimize even this small potential effect.
WOW! Just jumped to 0.71 on 1.4MM shares in 5 minutes.
Generation Next Announces Interim-CEO, New Independent Director and Appointment of Investment Bank
SAN DIEGO, CA -- September 4, 2019 -- InvestorsHub NewsWire -- Generation Next Franchise Brands, Inc. (OTCBB: VEND)(“Generation Next” or the “Company”) announced today its Board of Directors recently passed three resolutions. The first naming Ryan Polk as interim-CEO, the second appointing Tom McChesney to join the Board of Directors, and the third approving an engagement with Investment Bank Stout Risius Ross Advisors, LLC (“Stout”). The Company originally announced these pending actions when it announced a restructuring on August 8th.
Nick Yates, Founder and outgoing CEO, is assuming the role of Vice President, Sales and Marketing. Yates will have the opportunity to now focus entirely on developing new unattended retail platforms and leading both sales and marketing of the existing Reis & Irvy’s and Print Mates brands. The Company noted that Ryan Polk will succeed Mr. Yates as interim-CEO and will retain his CFO responsibilities and that the Company intends to announce the second of two Board Nominees before the end of September. The expanded Board will be responsible for naming apermanent CEO.
The Board also approved Generation Next entering into an engagement to retain Stout as the Company’s financial advisor pertaining to potential financing and strategic opportunities. Investment banking professionals from Stout’s Los Angeles, CA office will lead this effort in coordination with Company management.
The Board also announced the addition of Tom McChesney to its Board of Directors. Mr. McChesney is a seasoned investment banking professional who has served as a Director for several companies. He rose through the ranks and was appointed President of Paulson Investment Company in 1993. He left in 1995 and formed his own investment banking firm, specializing in working with emerging growth companies. He has stayed active in capital advisory services and building effective boards of directors for public companies. His most notable Director role was with TrueBlue, Inc. which, like Generation Next, was a bulletin board company when initially joined. During his 21 years with TrueBlue, it grew to be a $2.5 billion revenue company listed on the NYSE.
“I appreciate the support Ryan and I have received since we announced these plans in early August. Tom's addition as an Independent Director is much needed and in Stout, we have chosen a qualified partner who understands our business and has put forward a good strategy for raising capital,” said Yates. “There is tremendous value in our ecosystem. Realizing that value has been a challenge to this point; however, many doors have opened this year to put us on a better path. Tom joining our board, Ryan stepping into the CEO role, and working with Stout are just some of the actions required to help us improve execution and overall results.”
Polk commented on the Board actions by saying, “I appreciate the Board trusting me to shepherd the Company through the restructuring plan. The Stout team is a great fit for our strategy to raise the new investment needed to move forward, and Tom brings the SEC compliance and corporate governance expertise that we need to complement our existing Board capabilities.”
That's been rumored for some time now. I believe the soft drink vendors want it in order to sell more of their own product. No idea how it might work out.
"purported insider saying that it’s not really Nick Yates. "
Why do you classify him as a purported insider? To my recollection everyone has berated him as a know nothing in the past.
I have no reason to think the poster calling himself Nick Yates isn't really Nick Yates, in fact I believe he truly is Nick Yates.
The first post was removed for a personal attack on another poster. The second because it responded to a deleted post.
If someone wants to question the purported identity of the CEO it can be done in an acceptable manner.
I took Bruce’s post to be tongue in cheek, finding it impossible to believe that Buffet would comment on a speculative stock like NDG.
"They’ve replaced the old management"
May not be entirely true. Haven't seen anything where Nick has given up his Chairman title. Right now it seems he has relinquished some of his previous day-to-day activities in order to focus on major sales/franchise opportunities such as Walmart, Kroger, HEB, etc, possibly on large franchisee territory commitments.
Whatever happens in the next few months is a result of the current/recent management activities...imho
Well, that didn’t turn out so good.....
Gold up $20+ in the first hour of trading. Went past $1550 before settling slightly below. If it stays up it should be a good day for PVG tomorrow.
Agree completely!!
"Powell promises Fed will 'act as appropriate' to sustain economic expansion"
Gold started to move up about the same time Powell said this. Hmmm...
Thought you were the 'expert' on what the trading means. IMHO the buys yesterday with little price movement meant the MM's (NITE in particular) had built an inventory and were content to selling it off in volume at 0.48 rather than having it rise a few pennies on lower volume, but what do I know....
CDEL this morning is trying to accumulate, offering to buy 18,500 at 0.425 but isn't getting any takers willing to sell. maybe you should take him up on the offer...
I've been interpreting Sonata's remarks as wanting a public statement (PR) about Mickelson, not just a note in franchise documents. He's repeatedly said that the company owes them a statement about Mickelson because they had a PR about him as a new franchisee and he bought shares on the basis of Phil becoming a franchisee. How public are the franchise documents? I've never seen them (or looked for them).
as you say, as far as you know...
I'm prepared to be patient.
Mickelson did a few appearances for the company for which he received some restricted shares which he still has, along with still being a franchisee.
"Arguably, the company has a duty to disclose certain material events such as the loss of a major franchisee that it had spared no effort in promoting."
What major franchisee do you know of that was lost? Don't rely on information from another poster who may not have been specific in the questions he asked....
Not all of those deals are dead, according to my 'source' who is more official than your 'source'. You just weren't specific enough with your question, imho
Which "Mickelson deal" are you referring to?
1. Mickelson as a franchisee?
2. Mickelson as a spokesperson?
3. Mickelson as a stockholder?
Were you specific when you asked about Mickelson such that you know what deal is dead? Not all of the above 'deals' are dead.
Just asking.....
That trade for 8963 shares at 0.415 was a buy - I watched it go through. The bid/ask at the time was 0.415/0.42 and an MM was offering 9863 shares at 0.42. He accepted 0.415 for them and then withdrew and the ask was raised to 0.46 with an offer from a different MM. FACT!
As it says on the bottom of IH's trade data:
Trade definitions are based on the mid-price and are indicative only