Galaxy Next Generation Completes Successful Installations of Interactive Panels

Rhea-AI Summary

Galaxy Next Generation (OTCQB:GAXY) has successfully installed interactive panels at schools in Georgia and Florida, fulfilling a backlog generated due to previous shutdowns. The installations, totaling approximately $550,000 from Newtown County Schools and another local school, cater to around 20,000 students. CEO Gary LeCroy highlighted that the completed installations help generate cash flow, enabling the company to process further orders. This positive development comes as schools gradually resume in-person sessions.

Positive

• Successful installation of interactive panels generating approximately $550,000 in revenue.
• Fulfillment of backlog orders leads to improved cash flow for the company.
• Engagement with a large school district of 20,000 students enhances market presence.

Negative

• None.

Fulfilling Backlog as Schools Return to the Classroom

TOCCOA, GA / ACCESSWIRE / August 27, 2020 / Galaxy Next Generation, Inc. (OTCQB:GAXY) ("Galaxy" or the "Company), a provider of interactive learning technology solutions, is pleased to announce that it has completed successful installations of interactive panels at Newtown County Schools in Georgia and a school in south Florida.

The interactive panels were installed under purchase orders from April 2020 of approximately $550,000 from Newton County Schools, Georgia and a school in south Florida. The Newtown County public school district includes 20,000 students and 13 elementary schools, 5 middle schools and 3 high schools for the communities of Covington, Mansfield, Newborn, Oxford, Porterdale and Social Circle. The south Flordia school deployed interactive touch panels campuswide.

Gary LeCroy, Galaxy's Chief Executive Officer, commented, "Now that schools are slowly coming back to session we are able to complete previously awarded contracts and purchase orders and clear out the back log that was produced while shut down. The successful installations and collection of revenue provide cash flow for our Company to then be able to fulfill other additional orders."

About Galaxy Next Generation, Inc.

Galaxy Next Generation (OTCQB:GAXY) is a provider of interactive learning technology solutions that allows the presenter and participant to engage in a fully collaborative instructional environment. Galaxy's products include Galaxy's own private-label interactive touch screen panel as well as numerous other national and international branded peripheral and communication devices. Galaxy's distribution channel consists of 22+ resellers across the U.S. who primarily sell the Company's products within the commercial and educational market. Galaxy does not control where resellers focus their resell efforts, although generally, the K-12 education market is the largest customer base for Galaxy products - comprising nearly 90% of Galaxy's sales.

For additional information, please visit our website at: www.galaxynext.us

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Investors Contact:

IR@GalaxyNext.us
p 888-859-1274

SOURCE: Galaxy Next Generation, Inc.

View source version on accesswire.com:
https://www.accesswire.com/603564/Galaxy-Next-Generation-Completes-Successful-Installations-of-Interactive-Panels

FAQ

What is the recent announcement by Galaxy Next Generation regarding installations?

Galaxy Next Generation announced successful installations of interactive panels at schools in Georgia and Florida, fulfilling a backlog of orders.

How much revenue did Galaxy Next Generation generate from the recent installations?

The company generated approximately $550,000 from the interactive panel installations.

What impact do the installations have on Galaxy Next Generation's cash flow?

The completed installations provide cash flow for Galaxy Next Generation, allowing them to fulfill additional orders.

What is the target market for Galaxy Next Generation's products?

Galaxy Next Generation primarily targets the K-12 education market, which constitutes nearly 90% of its sales.

How many students are served by Newtown County Schools where installations took place?

Newtown County Schools serve approximately 20,000 students.