GALAXY NEXT GENERATION - GAXY STOCK NEWS

Galaxy Next Generation (OTCQB:GAXY) has successfully acquired and canceled 50 million common shares, reducing its total outstanding shares from 3.43 billion to 3.38 billion. This move follows the repayment of a previous debt involving these shares. CFO Magen McGahee emphasized that this cancellation aims to minimize dilution and enhance shareholder value. Galaxy specializes in interactive learning technology solutions, primarily servicing the K-12 education market, which constitutes nearly 90% of its sales.

Galaxy Next Generation (OTCQB:GAXY) announced it secured approximately $300,000 in new purchase orders this week, significantly up from $80,000 in December 2020. CEO Gary LeCroy emphasized this momentum is noteworthy given that December typically sees slower sales due to school budgets. The company aims to fulfill its open orders swiftly, despite the upcoming holiday break for schools.

Galaxy specializes in interactive learning technology solutions, primarily serving the K-12 education market, which constitutes nearly 90% of its sales.

Galaxy Next Generation, Inc. (OTCQB:GAXY) announced the extinguishment of its Equity Line of Credit (ELOC), confirming no additional registered shares will be issued. The company raised approximately $6.7 million, which has led to significant financial improvements, including a reduction of liabilities from $13.3 million to $7.8 million and an increase in revenues from $700K to nearly $2 million quarterly. Additionally, inventory levels have grown, and the company reported an adjusted positive EBITDA for two consecutive quarters. Galaxy continues to focus on enhancing its product visibility and sales efforts in the education sector.

Galaxy Next Generation (OTCQB:GAXY) reported record revenue of $1.7 million for the three months ended September 30, 2021, marking a 43% year-over-year growth. The company achieved a significant 93% increase in gross profit, bringing the total to $666,008. Net loss reduced to $386,027 from $13.1 million in the previous year. The quarter also saw a second consecutive quarter of positive Adjusted EBITDA. Total liabilities decreased by $1.5 million, contributing to a strengthening balance sheet. Overall, positive trends suggest increasing shareholder value.

Galaxy Next Generation (OTCQB:GAXY) announced a $300,000 purchase order from Aisys Consulting and Mission CISD in Texas. This order is a result of a previously awarded catalog bid, showcasing the importance of streamlined purchasing processes. Aisys Consulting, a leading education technology reseller in Texas, will assist Galaxy in expanding its educational technology solutions within the state. The company's offerings primarily serve the K-12 education market, accounting for nearly 90% of sales.

Galaxy Next Generation, Inc. (OTCQB:GAXY) will host its first quarter fiscal year 2022 earnings results conference call on November 15, 2021 at 4:30 PM ET. CEO Gary LeCroy and CFO Magen McGahee will discuss the company's quarterly results for the three months ending September 30, 2021, and address shareholder questions. Interested parties can join via dial-in numbers provided in the announcement. Galaxy is a provider of interactive learning technology solutions, primarily serving the K-12 education market, which comprises nearly 90% of its sales.

Galaxy Next Generation, Inc. (OTCQB:GAXY) has announced the renewal of its license agreement with Boulder Valley School District, Colorado, for its Cloud-based Bell and Intercom system. This renewal marks the second year of collaboration, showcasing the district's confidence in Galaxy's solutions. The Boulder Valley School District, which serves over 31,000 students, is renowned for its academic excellence, further solidifying Galaxy's position in the education technology market. CEO Gary LeCroy emphasized that this recurring revenue stream supports planned growth for the upcoming school year.

Galaxy Next Generation, Inc. (OTCQB:GAXY) announced a new contract with Colorado Springs Schools to provide district-wide audio/visual installations for 55 schools serving approximately 30,000 students. CEO Gary LeCroy highlighted that this contract signifies recurring revenue over the upcoming months, showcasing Galaxy’s growth and reputation in the marketplace. The district aims to enhance student achievement through improved resources and collaborative environments. Further financial details will be disclosed in future announcements.