Company Updates its Goal to 750 Installations by the End of the Calendar Year Resulting in Approximately $30,000,000 in Revenue Recognition for the First Half of Fiscal 2019.
SAN DIEGO, CA , Aug. 28, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE - Generation NEXT Franchise Brands, Inc. (OCTQB: VEND) announced today that the company is ramping production and delivery of its proprietary Reis & Irvy’s robotic frozen dessert vending kiosks after a brief delay that forced the company to redesign two key components.
By mid-August, the company had successfully delivered 15 units to franchisees in twelve cities across nine U.S. states as well as the province of Alberta, Canada. “After these initial installations, our Franchisee Support Team, in close contact with our franchisees, made us aware of two separate issues. The first issue was that we identified candy toppings ‘ricocheting’ out of the dispensing chute, resulting in the toppings, in some cases, landing outside of the cup, this resulted in the second issue which was the spillage becoming visible in the base of the unit. As a result, we decided to pause production in order to resolve this issue, which involved the design, prototyping and manufacturing of a newly-designed candy dispenser and drip tray. After thorough testing, we’re confident the new components have addressed the issues, and both previous and existing installations have been upgraded with the new components,” said Generation NEXT Franchise Brands Chairman and Founder, Nick Yates. “We believe we have passed our last design hurdle and we are now moving closer towards full-scale production.”
Locations, Locations, Locations
“We expect approximately 40 finished units to roll off the factory floor this week alone,” Yates added. “We anticipate these units will be delivered to franchisees in more than two dozen U.S. cities over the next 30 days or less.”
Notable locations scheduled for installation over the next 14 days include the Indianapolis Airport (Indianapolis, IN), Dallas Stars Hockey Club (Plano, TX), Houston Baptist University (Houston, TX), First Class Concessions at Fort Wayne International Airport (Fort Wayne, IN), University of New Mexico (Albuquerque, NM), Texas State University (San Marcos, TX), Gulfport High School (Gulfport, MS), Discovery Center (Boise, ID), Columbia Mall (Bloomsberg, PA), Groupon HQ (Chicago, IL), Bluegreen Vacations - Club 36 (Las Vegas, NV), Springfield Mall (Springfield, PA), Laserdome (Manheim, PA), Mockingbird Valley Indoor Soccer Club (Louisville, KY), Wayne State University (Detroit, MI), Oklahoma Christian University (Oklahoma City, OK), North East Mall (Hurst, TX), The Amazium (Fayetteville, AR), Porter Adventist Hospital (Denver, CO) and Quantum Leap (Johnson City, TN).
An Industry Disruptor
With over $170 million in franchise and licensing contracts, Generation NEXT Franchise Brands, Inc. (OTCBB: VEND) is leading the way with frozen desserts, fully autonomous robotic delivery, visual and audio entertainment, and a unique retail experience.
Generation Next Franchise Brands, Inc. (OTCQB: VEND) is the developer of the world's first fully-automated robotic frozen dessert vending kiosk designed to disrupt brick-and-mortar competitors. Reis & Irvy’s unattended robots eliminate the need for costly rents and employees; significantly reduce food safety concerns; and are capable of operating 24-hours a day.
Reis & Irvy’s-branded signature robot characters of the same name can dispense servings of frozen yogurt, ice cream, gelato and sorbet topped with a selection of six delicious toppings in under 60 seconds. With self-checkout touch screen ordering and payment options, video animation, music and delicious frozen dessert provided exclusively by Dannon, robot vendors meet consumers’ demand for immediate convenience, entertainment and a superior quality product - be it in shopping malls, medical centers and any other high-traffic area.
On June 20, 2018, the company announced a business relationship with five-time Major Golf Champion Phil Mickelson and his career-long business manager and business partner Steve Loy.
For more information, visit the Reis & Irvy’s website at www.reisandirvys.com or call Toll-Free (888) 902-7558.
About Generation NEXT Franchise Brands, Inc.
Generation NEXT Franchise Brands, Inc., based in San Diego, California, is a publicly traded company on the OTC Markets trading under the symbol OTCBB: VEND. Generation NEXT Franchise Brands, Inc. is parent company to Reis and Irvy's, Inc. and Generation NEXT Vending Robots.
About Reis & Irvy's, Inc.
Reis & Irvy's, Inc. is a subsidiary franchise concept of Generation NEXT Franchise Brands, Inc. (VEND). Launched in early 2016, the revolutionary Reis & Irvy's Vending Robot serves seven different flavors of frozen yogurt, ice cream, sorbets and gelatos, a choice of up to six custom toppings and to customers within 60 seconds or less at the point of sale. The unique franchise opportunity has since established itself as a high-demand product and currently showcases a franchise network both domestically as well as internationally.
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.
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 ability to generate revenue and recognize deferred revenue; our ability to timely launch delivery and installation of our frozen yogurt robots; and our ability to grow our franchising and licensing divisions and launch our corporate-owned and direct sales platforms. 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 filings with the Securities and Exchange Commission (SEC), including our most recent Annual Report on Form 10-K for the year ended June 30, 2017, our Quarterly Reports, 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.