News Feed Item

Generation NEXT Franchise Brands Completes Fiscal 2017 With Approximately $25 Million in Deferred Revenues and Adds an Additional $5.5 Million in Bookings During the First Quarter of Fiscal 2018

A total of 186 Reis & Irvy's franchisees have now been appointed across the US and Canada

SAN DIEGO, CA -- (Marketwired) -- 10/12/17 -- Generation NEXT Franchise Brands (OTCQB: VEND), whose Reis & Irvy's frozen yogurt robot franchise launched in April of 2016, completed the First Quarter of fiscal 2018, with bookings aggregating approximately $5.5 million, adding to its existing deferred revenue of approximately $25.0 million.

Other highlights and updates from fiscal 2017 and the first quarter of fiscal 2018 are as follows:

  • Reis & Irvy's total franchise network aggregates 186 franchises;
  • The company has raised proceeds totaling $4.4 million in the form of an equity offering;
  • We repaid $622,500 in debt principal during the first quarter of Fiscal 2018;
  • The company completed September 2017 with $1.8 million in available cash;
  • Receivables increased by over $10.5 million from $2.4 million to $12.9 million during fiscal 2017;
  • Our deferred revenue increased from $8.1 million to $25.0 million representing an increase of $17 million during fiscal 2017;
  • We acquired all the intellectual property in the form of four separate utility and design patents from Robofusion Inc. We now own all IP related to the robot. This increased our fixed assets by $2.4 million in fiscal 2017;
  • We spent $1.6 million on research and development expenses during fiscal 2017, thus rebuilding our next generation frozen yogurt robot;
  • During fiscal 2017, we used $340,000 in cash from operations, compared to using $556,000 in fiscal 2016. Furthermore, in fiscal 2017, we increased total cash by $1.1 million compared to generating $200,000 in fiscal 2016;
  • We selected Flex, Ltd. as our exclusive contract manufacturer and now have a production schedule that allows for approximately 1,000 units to be manufactured for installation by June 30, 2018. With approximately $24 billion in annual revenue and 200,000 professionals across 30 countries, Flex, Ltd. provides innovative design, engineering, manufacturing, real-time supply chain insight and logistics services to companies of all sizes in various industries and end-markets;
  • Our prototype frozen yogurt vending robot developed by Lancer Corporation underwent and has now completed the Intertek - UL and NSF design review phase which means all that is left is the final testing; the final testing will take place over the next few weeks, with Intertek testing to verify the robotic arm meets their safety standards and that our procedures meet all health and food safety regulations. Note: We have independently verified that it does meet their standards and we are confident UL will achieve the same results in their testing;
  • We have developed a "burn-in-test" that will ensure all frozen yogurt vending robots are performance tested prior to shipment; This process verifies that the robot is communicating with each sub-system during normal operations and that our control system and components/sensors are functional;
  • Our frozen yogurt vending robots have been through rigorous performance testing and have performed extremely well in various humidity and ambient temperature routines including over a million cycles of the robotic arm without fail; in addition to the robotic arm and soft-serve machine testing, we have been validating software communication and integration on the entire unit to ensure all sub-systems are communicating and are functional;
  • We engaged Pitney Bowes as our national service network partner to deliver, install and provide on-site training for our robots; backed by a team of over 16,000 dedicated professionals, Pitney Bowes has more than 1.5 million clients in approximately 100 countries around the world that rely on products, solutions and services from Pitney Bowes;
  • On August 9th, we announced an $875,000 Licensing Agreement within the Nation of Oman. This is the second international license agreement signed, the other being for the exclusive rights to Israel, which was licensed for $3,637,500 over a five-year period;
  • Our first robots will be delivered in November 2017;
  • We are excited to announce that our first franchise training begins November 6, 2017 at the Generation Next Corporate Office in San Diego, CA. Each franchisee will spend 2 days learning about their robots and franchise business. Franchisees that attend this inaugural training will be also the first to receive their robots. Representatives from our partners Flex Ltd, Pitney Bowes and Spaceman will be in attendance at this training.

"As we prepare our business for continued growth, we have officially solidified our infrastructure by finalizing key relationships with our manufacturing and logistics partners, Flex Ltd and Pitney Bowes. These strategic alliances combined with the sales and marketing platform we have proven, will allow us to deliver all products with the scale we require, the most highly regarded service network not just nationally but internationally, support for our customers and professionalism on all levels," said Nick Yates, Chairman and Founder. "Additionally, we will continue our expansion plans next month, which will see the official launch of both the Generation Next Vending Robots program, as well as our corporate-owned operations program, allowing for two new and very promising revenue streams to take affect well before the end of fiscal 2018."

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 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.

Generation NEXT Franchise Brands

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 robot, 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.

Cautionary note on forward-looking statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among others, statements concerning our future financial performance, including statements regarding our manufacturer's ability to maintain the production schedule for our Froyo Robots and our ability to timely launch delivery of our Froyo Robots. The Company bases these forward-looking statements on its current expectations, estimates and projections about future events and the industry in which it operates using information currently available to it. Actual results could differ materially from those discussed in, or implied by, these forward-looking statements. Forward-looking statements are identified by words such as "believe," "anticipate," "propose," "expect," "intend," "plan," "will," "may," "estimates," variations of such words and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Factors that could cause actual results to differ from those implied by the forward-looking statements contained in this press release are set forth in our fillings with the Securities and Exchange Commission (SEC), including our most recent Annual Report on Form 10-K for the year ended June 30, 2017, and our Current Reports on Form 8-K. Be advised that developments subsequent to this press release are likely to cause these statements to become outdated and the Company is under no obligation (and expressly disclaims any such obligation) to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Media Contact:
Generation NEXT Franchise Brands
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
First generation hyperconverged solutions have taken the data center by storm, rapidly proliferating in pockets everywhere to provide further consolidation of floor space and workloads. These first generation solutions are not without challenges, however. In his session at 21st Cloud Expo, Wes Talbert, a Principal Architect and results-driven enterprise sales leader at NetApp, will discuss how the HCI solution of tomorrow will integrate with the public cloud to deliver a quality hybrid cloud e...
Is advanced scheduling in Kubernetes achievable? Yes, however, how do you properly accommodate every real-life scenario that a Kubernetes user might encounter? How do you leverage advanced scheduling techniques to shape and describe each scenario in easy-to-use rules and configurations? In his session at @DevOpsSummit at 21st Cloud Expo, Oleg Chunikhin, CTO at Kublr, will answer these questions and demonstrate techniques for implementing advanced scheduling. For example, using spot instances ...
SYS-CON Events announced today that Yuasa System will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Yuasa System is introducing a multi-purpose endurance testing system for flexible displays, OLED devices, flexible substrates, flat cables, and films in smartphones, wearables, automobiles, and healthcare.
SYS-CON Events announced today that Taica will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Taica manufacturers Alpha-GEL brand silicone components and materials, which maintain outstanding performance over a wide temperature range -40C to +200C. For more information, visit http://www.taica.co.jp/english/.
As hybrid cloud becomes the de-facto standard mode of operation for most enterprises, new challenges arise on how to efficiently and economically share data across environments. In his session at 21st Cloud Expo, Dr. Allon Cohen, VP of Product at Elastifile, will explore new techniques and best practices that help enterprise IT benefit from the advantages of hybrid cloud environments by enabling data availability for both legacy enterprise and cloud-native mission critical applications. By rev...
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...
Organizations do not need a Big Data strategy; they need a business strategy that incorporates Big Data. Most organizations lack a road map for using Big Data to optimize key business processes, deliver a differentiated customer experience, or uncover new business opportunities. They do not understand what’s possible with respect to integrating Big Data into the business model.
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, will discuss how they b...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities – ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups. As a result, many firms employ new business models that place enormous impor...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous a...
SYS-CON Events announced today that Dasher Technologies will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Dasher Technologies, Inc. ® is a premier IT solution provider that delivers expert technical resources along with trusted account executives to architect and deliver complete IT solutions and services to help our clients execute their goals, plans and objectives. Since 1999, we'v...
SYS-CON Events announced today that MIRAI Inc. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MIRAI Inc. are IT consultants from the public sector whose mission is to solve social issues by technology and innovation and to create a meaningful future for people.
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, will provide a fun and simple way to introduce Machine Leaning to anyone and everyone. Together we will solve a machine learning problem and find an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intellige...