SAN DIEGO, CA--(Marketwired - Jul 19, 2016) - (
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.