GENERATION NEXT FRANCHISE BRANDS, INC. (OTCMKTS:VEND) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 7.01. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(b) On February 9, 2018, Steven Finley informed Generation Next Franchise Brands, Inc. (the “Company”) of his intention to resign from the Company’s Board of Directors (the “Board”) effective February 9, 2018. Mr. Finley’s resignation is due to employment restrictions established by his current employer, Morgan Stanley and not as a result of any disagreement between himself and the Company, its management, board of directors or any committee of the Board.
The Board has not yet determined whether or who to name as a new director to replace Mr. Finley on the Board.
Item 7.01 Regulation FD Disclosure.
The Company is releasing a six-month historical and projected growth rate to selected media outlets. A copy of the projection being released is being furnished herewith as Exhibit 99.2. The Company may use the projections from time-to-time in conversations with analysts, investors and others.
The presentation is furnished by the Company to Item 7.01 of Form 8-K and will not be deemed to be “filed” for the purposes of Section18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor will it be deemed to be incorporated by reference in any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such filing.
The information contained in Exhibit 99.2 is summary information that is intended to be considered in the context of the Company’s filings with the Securities and Exchange Commission (“SEC”) and other public announcements that the Company may make from time to time, by press release or otherwise. The Company undertakes no duty or obligation to publicly update or revise the information contained in this report, although it may do so from time to time as its management believes is warranted. Any such updating may be made through the filing of other reports or documents with the SEC, through press releases or through other public disclosure.
Item 7.01. Financial Statements and Exhibits
(d) Exhibits
Generation NEXT Franchise Brands, Inc. ExhibitEX-99.1 2 vend_ex991.htm RESIGNATION LETTER vend_ex991.htmEXHIBIT 99.1 RESIGNATION LETTER February 9,…To view the full exhibit click here
About GENERATION NEXT FRANCHISE BRANDS, INC. (OTCMKTS:VEND)
Generation NEXT Franchise Brands, Inc. formerly Fresh Healthy Vending International, Inc., is a franchise development company and operator of Company-owned vending machines, micro markets and frozen yogurt robots. The Company provides a portfolio of fresh, organic and all-natural snacks and drinks. The micro market provides fresh full meal options, such as salads, sandwiches and wraps. The micro market is designed for implementation in corporate environments, hotel lobbies, auto dealerships and other retail environments. The Company is focused on setting up national distribution partners to carry the consumable products required for the frozen yogurt robots. It outsources non-core functions to third-party vendors. Its services include machine manufacturing, transport, location set-up, maintenance, inventory, food management and ordering, payment processing and cash management. As of June 30, 2016, the Company and its franchisees operated over 3,000 vending machines and micro markets.