GALAXY NEXT GENERATION - GAXY STOCK NEWS

Galaxy Next Generation (OTCQB:GAXY) announced the posting of a webcast replay and transcript from its shareholder update call on October 28, 2020. The call featured CEO Gary LeCroy and CFO Magen McGahee discussing the company's capital structure, capital markets plans, business developments, and strategies. Galaxy specializes in interactive learning technology solutions, primarily serving the K-12 education sector, which accounts for about 90% of its sales.

Galaxy Next Generation (OTCQB: GAXY) will host a shareholder update conference call on October 28, 2020, at 4:30 PM ET. CEO Gary LeCroy and CFO Magen McGahee will discuss the company's capital structure, business developments, and future strategies. Shareholders can submit questions via email before the call. For those unable to attend, a replay will be available until November 11, 2020. Galaxy specializes in interactive learning technology solutions, primarily serving the K-12 education market.

Galaxy Next Generation (OTCQB:GAXY) announced a $2.5 million reduction in liabilities and convertible debt in its recent 10K filing. This includes $1 million paid in cash and $1.5 million through a combination of stock and cash. The company aims to clean up past debts while balancing growth and investor relations. CFO Magen McGahee expressed pride in the company's advances in managing both growth and balance sheet integrity. Galaxy specializes in interactive learning technology, primarily serving the K-12 education market, which constitutes nearly 90% of its sales.

Galaxy Next Generation (OTCQB:GAXY) announced the successful closing of its asset purchase of Classroom Technology Solutions (CTS), enhancing its product offerings in the K-12 education sector. This acquisition is expected to increase profitability, leveraging CTS's years of customer support and vendor relationships to reduce costs by an average of 50% on imported goods. The deal reinforces Galaxy's commitment to providing innovative educational technology, with a focus on expanding its product line and maintaining a Florida satellite office for improved customer service.

Galaxy Next Generation, Inc. (OTCQB:GAXY) issued a shareholder update on October 9, 2020, highlighting a significant increase in daily trading volume, reaching approximately $1,826,000. The company acknowledges both growth and challenges, including acquisitions and product launches. They emphasize their focus on seeking new capital and the importance of turning growth into profitable revenue. With nearly 90% of sales coming from the K-12 education market, Galaxy continues to be optimistic about future expansion and the support from shareholders.

Galaxy Next Generation, Inc. (OTCQB:GAXY) announced it is fulfilling orders for its Cov-Shield plexi-glass barriers, targeting the U.S. education sector. The company expects to receive over 7,500 units for immediate delivery, which translates to approximately $240,000 in revenue from past orders. Additionally, a second shipment of Cov-Shields anticipated by October 15 is expected to generate another $200,000. The company continues to attract inquiries from existing and new customers, indicating a strong demand for its products.

Galaxy Next Generation, Inc. (OTCQB:GAXY) announced a distribution agreement with Technology Core, Inc., enhancing the availability of its Intercom and Paging solutions in over 10,000 Australian schools. Technology Core, a leading interactive solutions provider in Australia, will market these products under its brand, HDinteractive. CEO Gary LeCroy emphasized the growing demand for classroom audio solutions, indicating a strategic expansion into international markets.

Galaxy Next Generation, Inc. (OTCQB:GAXY) reported significant financial growth with a 185% revenue increase in education technology for the quarter and 80% for the fiscal year. The company achieved deferred revenue growth of 459% to $1.1 million and a backlog of $2.43 million. Q4 revenue reached $469,179, a 65% rise, while FY revenue was $2.32 million, up 44%. However, net loss for Q4 increased to $3.93 million, reflecting ongoing operational challenges despite robust sales growth.

Galaxy Next Generation (OTCQB:GAXY) announced plans to close its acquisition of Classroom Technology Solutions (CTS) by mid-October 2020. This acquisition, initially outlined in a Letter of Intent in late May, aims to enhance Galaxy's product offerings in the K-12 education and collaboration market. CTS has been recognized for its audio-visual products and robust growth, making it a strategic addition. Galaxy's CEO expressed confidence in increased revenue growth, while CTS's CEO noted collaboration on new products despite pandemic-related delays.