"During the year ended June 30, 2014, the Company decided to pursue international expansion of its operations. In connection with our intended expansion, we elected to engage a consulting firm in order to retain a master franchisee. Although the Company initially signed a Letter of Intent ("LOI") with a master franchisee in Australia, we determined that it was in the Company's best interest to terminate the LOI. Furthermore, we decided to manage the international expansion ourselves and therefore, terminated the agreement with the consulting firm as well. The Company is currently evaluating its on-going strategy for international operations."
"As of September 26, 2014, 26,598,290 shares of our common stock were issued and outstanding, and held by approximately 33 stockholders of record."
"On September 23, 2014, the Company entered into a Financing and Security Agreement (the "Financing Agreement") whereby the Company can borrow up to $1.5 million through the issuance of convertible secured debt. "
"We had revenues of $5,258,027 for the year ended June 30, 2014, compared to revenues of $7,081,408 for the year ended June 30, 2013. This represented a decrease in revenues of $1,823,381 or 25.7%. This decrease was a result of overall orders and installations (at which point our Company recognizes revenue) of machines declining during the year ended June 30, 2014 as compared to the year ended June 30, 2013. As a result of the decrease in orders and installations, franchise fees also decreased $141,000 from fiscal 2013 to fiscal 2014. This total revenue decrease was partially offset by an increase in revenues from Company owned machines and other revenues aggregating $299,642 in fiscal 2014 as compared to $144,870 in fiscal 2013, representing an increase in $154,772."
News 
Market Data 
Discover 
