Galaxy Next Generation's CEO Gary LeCroy Invested Approximately $1 Million into the Company Over the 2nd Half of 2022

Rhea-AI Summary

Galaxy Next Generation (OTCQB:GAXY) announced that CEO Gary LeCroy invested approximately $1 million into the company during the second half of 2022. This move, described as beneficial for growth, comes amidst improving sales prospects and a shortage of new capital resources. Galaxy specializes in interactive learning technology solutions, focusing primarily on the K-12 education market, which represents nearly 90% of its sales.

Positive

• CEO Gary LeCroy's $1 million investment indicates confidence in the company's growth potential.
• Sales prospects are reportedly improving, suggesting potential for increased revenue.

Negative

• The company is facing a lack of adequate new capital resources, which may hinder growth.

Reflects Continued Enthusiasm for Long-Term Prospects

TOCCOA, GA / ACCESSWIRE / January 6, 2023 / Galaxy Next Generation, Inc. (OTCQB:GAXY) ("Galaxy" or the "Company), a provider of interactive learning technology solutions and school communication platforms, today announced that its CEO Gary LeCroy provided approximately $1 million of capital into the Company over the 2nd half of 2022.

Gary LeCroy, Galaxy's Chief Executive Officer, commented, "Over the final 6 months of 2022, I invested approximately $1 million into Galaxy under flexible repayment terms. With sales prospects continuing to improve and a lack of adequate new capital resources, I decided it would be mutually beneficial to take on the personal liability to facilitate our growth."

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.

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https://www.accesswire.com/734298/Galaxy-Next-Generations-CEO-Gary-LeCroy-Invested-Approximately-1-Million-into-the-Company-Over-the-2nd-Half-of-2022

FAQ

What recent investment did Galaxy Next Generation's CEO make?

CEO Gary LeCroy invested approximately $1 million into Galaxy Next Generation during the second half of 2022.

What is Galaxy Next Generation's main market focus?

Galaxy Next Generation primarily focuses on the K-12 education market, which accounts for nearly 90% of its sales.

What are the stock symbols for Galaxy Next Generation?

The stock symbols for Galaxy Next Generation are GAXY and GAXYD.

Why did CEO Gary LeCroy invest in Galaxy Next Generation?

LeCroy's investment was made to facilitate growth amid improving sales prospects and a lack of new capital resources.