SAN DIEGO, CA--(Marketwired - Nov 28, 2017) - Generation NEXT Franchise Brands, Inc. (OTCQB: VEND), whose Reis & Irvy's frozen yogurt robots launched in April of 2016, completed October of fiscal 2018, with bookings aggregating $2.3 million.
Other notable items in October are as follows:
- The company raised proceeds totaling $410,000 in the form of an equity offering during October and has raised aggregate proceeds totaling $5.2 million;
- The company completed October 2017 with $1.5 million in available cash;
- The company secured a master international licensing agreement within Canada that represents over $18 million in revenue, over a five-year period, if certain purchase objectives are met;
- Two of the company's Reis & Irvy's prototype units were transferred to our exclusive manufacturing partner Flex Ltd. to undergo the final set of reliability tests and engineering design reviews. Furthermore, Flex has begun production line and workflow logistics
"As we near the end of calendar 2017, we are extremely pleased with our progress as a franchisor and very proud to say we are officially now a developer and manufacturer of disruptive vending technology" stated Nick Yates, Chairman and Founder. "We believe that calendar 2018 will be a breakout year for Generation NEXT as we continue to grow our franchising and licensing divisions, launch our corporate owned and direct sales platforms and begin installation of all presold Reis & Irvy's robotic vending machines for the sake of proof of concept, market acceptance and revenue recognition."
For more information on the revolutionary Froyo Robots or to learn more about how you can own your own Reis & Irvy's Froyo Robot franchise, visit the Reis & Irvy's website at reisandirvys.com. To learn more about Generation NEXT Franchise Brands or their family of brands, including Reis & Irvy's, Fresh Healthy Vending, Generation Next Vending Robots, or 19 Degrees, please visit www.gennextbrands.com or call toll free 888-902-7558.
This information is not intended as an offer to sell, or the solicitation of an offer to buy, a franchise. It is for information purposes only. No Reis & Irvy's franchises will be sold to any resident of any state until the offering has been exempted from the requirements of, or duly registered in and declared effective by, such state and the required FDD (if any) has been delivered to the prospective franchisee before the sale in compliance with applicable law. Currently, the following states in the United States regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. If you reside in one of these states, or even if you reside elsewhere, you may have certain rights under applicable franchise laws or regulations.
About Generation NEXT Franchise Brands, Inc.
Generation NEXT Franchise Brands, based in San Diego, California, is a publicly traded company on the OTC Markets trading under the symbol: VEND. Generation NEXT Franchise Brands is parent company to Fresh Healthy Vending LLC, the market's leading healthy-choice vending machine franchise, Reis and Irvy's, Inc., the world's first robotic frozen yogurt vending kiosk, 19 Degrees, a corporate-focused frozen yogurt robot brand and Generation NEXT Vending Robots, our newly established owner/operator model. The Company has sold over 600 franchises throughout the United States, Canada, Puerto Rico and the Bahamas, and continually looks to partner with like-minded entrepreneurs who share its vision.