SAN DIEGO, CA--(NewMediaWire - Jul 19, 2016) -
(OTCQB: VEND) -- Generation NEXT Franchise Brands
announced today its 2016 Q4 booking results, ending fiscal 2016
with the highest month of bookings to date and showcasing a record
year that saw both consistent growth, a strong Q4 finish and the
launch of a new franchise concept; Reis & Irvy's.
Generation NEXT closed out Q4 with an impressive $3,281,000 in
deferred revenues. Included within the quarter was the company's
strongest month to date being June, which accounted for $1,900,000
in deferred sales. The solid growth came in part from the Fresh
Healthy Vending and Micro Market brand concepts, but was fueled by
the addition of the company's newest franchise entity, Reis &
Irvy's Frozen Yogurt Robotic Kiosks in Q4. The point-of-purchase
robotic frozen yogurt robots were launched April 11th and
accounted for 92 units booked and the procurement of 27 new
franchisees within the last fiscal quarter.
Generation NEXT is now focusing its efforts on the development
of the Reis & Irvy's concept, while dedicating resources to
continue growing, and maintain and support the already established
Fresh Healthy Vending franchise business.
"Fiscal 2016 has come to a close and overall I am pleased with
our performance and excited about the future of our Company," says
Nick Yates, Chairman of Generation NEXT Franchise Brands. "The last
twelve months saw us scale Fresh Healthy Vending to 246 Franchisees
operating over 3,000 healthy vending machines and micro markets. We
introduced Reis & Irvy's to overwhelming demand in May and have
since sold 27 new franchises for over $3.2 million in deferred
revenues. This includes $1.9 million in bookings for June 2016,
representing our best month of sales as a public company. In
addition, we have paid down $23,000 of debt and $79,000 of interest
in Q4 and have negotiated the extension of a $600,000 note, which
has a feature that allows it to be converted to equity by its
maker. To conclude, we are slowly but surely eliminating debt from
our books, bookings are growing, we've proven our new concept to be
a success and we continue to work with our current Fresh Healthy
Vending franchisees to grow their businesses."
For more information on Fresh Healthy Vending, please
visit www.freshvending.com or call toll free
888-902-7558. For more information on Reis & Irvy's, please
visit www.reisandirvys.com or call toll free
855-385-5333.
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 LLC, the world's first
robotic frozen yogurt vending kiosk and 19 Degrees, a
corporate-focused frozen yogurt kiosk brand. The Company hosts a
combined total of 274 active franchisees throughout the United
States, Canada, Puerto Rico and the Bahamas, and continually looks
to partner with like-minded entrepreneurs who share its vision.
Generation NEXT Franchise Brand's stock is traded on the OTC
Markets under the symbol: VEND.
Cautionary note on forward-looking statements
Except for historical information contained in this release,
statements in this release may constitute forward-looking
statements regarding assumptions, projections, expectations,
targets, intentions or beliefs about future events that are based
on management's belief, as well as assumptions made by, and
information currently available to, management. While the Company
believes that expectations are based upon reasonable assumptions,
there can be no assurances that goals, results and strategy will be
realized. Numerous factors, including risks and uncertainties,
terms and availability of financing, may affect actual results and
may cause results to differ materially from those expressed in
forward-looking statements made by the Company or on its behalf. In
addition to statements, which explicitly describe risks and
uncertainties, readers are urged to consider statements labeled
with such terms as "believes," "belief," "expects," "intends,"
"feels," "anticipates," "proposes," "proposed," or "plans" to be
uncertain and forward-looking. More detailed information on these
and additional factors that could affect Generation NEXT's actual
results are described in Generation NEXT's filings with the
Securities and Exchange Commission, including its most recent Form
10-Q's for the quarterly periods ended March 31, 2016, December 31,
2015 and September 30, 2015, and its annual report on Form 10-K for
the fiscal year ended June 30, 2015. All forward-looking statements
in this news release speak only as of the date of this news release
and are based on Generation NEXT's current beliefs and
expectations. Generation NEXT undertakes no obligation to update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise, except as required by
law.