Generation Next Franchise Brands, Inc. filed a motion in the US Bankruptcy Court for the sale of it's certain assets on March 7, 2020. The debtor seeks the Courts approval for the sale of its certain assets to Genext Loan, LLC for a purchase price of $1.91 million in cash pursuant to the asset purchase agreement, dated March 6, 2020. The purchase price consisted of $0.91 million cash payment and $1 million credit bid. Any initial overbid should be higher than the purchase price. The proceeds from the sale would be used to pay off the amount owed to Flex Ltd., Pitney Bowes Inc. and Socially Responsible Brands, Inc. The remaining amount after payment to these parties will be used to pay creditors and administrative claims of the debtor.