TOCCOA, GA / ACCESSWIRE / August 4, 2021 / Galaxy Subsequent Generation, Inc. (OTCQB:GAXY) (‘Galaxy’ or the ‘Company), a service provider of interactive studying technological innovation options, is happy to provide the next Shareholder Update Letter.
As often, it is of upmost worth to me and the other executives of Galaxy to give continued conversation and transparency to our shareholders. There is large excitement all over the U.S. instruction marketplace presented the influx of resources created accessible to universities by way of the several stimulus grants assigned in support with the Covid-19 pandemic. Most of the country is coming into a new university 12 months and following experiencing our busiest summer season to-date, we are fired up to see our college students benefiting from our technology obtaining sent and mounted prior to they return. With the occupied time still among the us, I felt it best to summarize some of our most the latest milestones and make a put together message on the progress we carry on to make with our manufacturer, our income, and our item improvement.
Just before leaping into the operational progress and the genuine successes in income and corporate gains, I come to feel that it is also needed to handle several ‘market’ thoughts that have been requested as of late. In phrases of GAXY and the new rule impacting selected non-recent OTC stocks (SEC’s Amendments to Rule 15c2-11), GAXY is a totally compliant and fully reporting OTCQB enterprise and therefore will not be afflicted by any changes being executed by brokers in accordance with the amendment. We carry on to just take our compliance quite serious. Our future economic report is our yearly 10K because of by September 30th. The audit staff and I are performing hard to make positive that this report is not only filed but submitted early. We will be able to speak much more at this time on economical updates and balance sheet milestones and will submit a day for the up coming earnings connect with along with the 10K.
There has also been a ton of converse and concerns relating to dilution. In January (in a previous shareholder update letter) we introduced the elimination of all poisonous convertible credit card debt. The Enterprise has held by our promise to not incorporate any convertible credit card debt again to the balance sheet and has no intentions of performing so shifting forward. So, the previous statements still keep genuine. There has been no issuance of inventory (minus small consultancy fees) outside the earlier recorded form S-1 which introduced back again on January 19th, 2021. This equity trader has been paramount in making sure we are capable to fund the growth experienced in our fiscal yr 2021 and has delivered us with the important methods necessary to ‘clean up’ remaining merchandise on the balance sheet as well as fund the needed jobs and merchandise advancement for our continued prolonged-phrase accomplishment. The incremental increase in shares excellent is thanks to these formerly declared and registered shares staying placed in the marketplace. Our husband or wife in investment decision has allowed the Business to disperse the shares at our discretion so that they were being not launched to the marketplace all at a person time, which would have led to a a great deal additional impactful outcome on inventory price tag. The Firm’s increase in revenue has authorized us to have much more inside money means obtainable to us and we will keep on to trend in this course.
Some of the the latest operational milestones have provided the addition of new income and advertising associates to our crew, the addition of new resellers, achievements in new contracts and bids, and new product development and securing that mental assets.
Just due to the fact July 1 2021, we have additional 3 new associates to the product sales and marketing crew and carry on to look for for the excellent prospect for the Mid-West Regional Gross sales Manager job publishing.
- Carrie Amelio joined the crew as the Northeast Regional Profits Supervisor based mostly in PA and carrying ~13 states in the Northeast/New England territory. Carrie joined us with several years of encounter in healthcare profits, both of those hardware and computer software. She brings not only working experience in relational sales but brings insight into the Professional medical/Clinic current market which is 1 of our organization targets as we split into new verticals.
- Walt Mischley has been with Galaxy given that our asset purchase of CTS in a consulting role related to bids and contracts. Nonetheless, Walt has many years of revenue experience managing his personal business, as very well as a reseller of numerous lines and a manufacturer’s consultant of precise ed tech products and solutions. Walt is now heading up our Texas sector as a full-time employee as our growth there of both of those resellers and contracts has been extensive.
- Also signing up for our crew in a complete-time placement is Pam Fisher who also at first joined Galaxy when we obtained the property of CTS. She will be heading up our internal marketing efforts and will be the liaison involving management and the attempts getting produced by CB&A (our formerly introduced marketing business). Pam has comprehensive practical experience in equally Internet marketing and Income and is a massive addition to the group for guidance in email campaigns, internet marketing messaging, and products demonstrations.
In addition to our earlier announced contracts and bids for the forthcoming faculty years purchasing demands (which most are accessible to start buying off of at the return of this school 12 months) Region 18, TX (Countrywide bid), White Settlement ISD, TX, Arlington ISD, TX, Abilene ISD, TX, Northwest ISD, TX, Richland County University District, SC, Charlotte County Educational institutions, FL, and St Johns County Educational institutions, FL, we have also secured the following that have not been earlier announced.
- Buy Board- Audio Video clip, National
- Tips, National
- Very good Get Co-Op, National
- Rockwall ISD, TX
- Harlingen ISD, TX
- Killeen ISD, TX
- McAllen ISD, TX
- Mansfield ISD, TX
- Channel Look at ISD, TX
- Edinburg ISD, TX
- Eagle Mountains/Saginaw ISD, TX
- Sherman IDD, TX
In terms of other gross sales and success, we have made good strides in beating component and products shortages owing to Covid-19 backlog challenges. We have a consistent move of stock for our Interactive Flat Panel line of items and have observed a continual maximize of orders in relation to classroom upgrades to assistance the desires of our clients.
We have also secured (in surplus) the parts required to manufacture and assemble our audio amplification technique and have shipped more than 700 models to an OEM partner considering that July 1. As section of our in general organization program and income strategy, this product or service relatives will be a far more consistent supply of money to stabilize the seasonality of historic merchandise income.
Our products and solutions and our persons are what will make us a accomplishment and the continuation of advancements on both are starting off to reflect in our general overall performance. More sales team qualified prospects to more revenue. Extra contracts and bid awards lead to more prospects. Far more solutions and new systems direct to much more clients and profits turn out to be proprietary to Galaxy. We have invested this past calendar year in both our men and women (not obtaining any lay-offs through the pandemic time period) and our goods, to guarantee we are top the market in innovative methods, and it IS shelling out off.
As we proceed to move in the course of a even bigger and improved business, we also carry on to move toward a greater and more revered listing trade. This maintains to be a intention for us, and we have been analyzing all the possibilities offered to us to address the inventory price tag specifications. These discussions are ongoing in our board conferences and no choices have been arrived at at this time. We are thrilled to share our upcoming annual report with you and will tackle Q4 independently in the administration evaluation area in purchase to maximize the development that has been designed since our very last quarterly report.
We respect your persistence as we move at these kinds of a speedy pace. I have an understanding of your wish for continuous (everyday) updates and will do my best to present new and thrilling partnerships, revenue, and developments as they unfold.
My self esteem is greater than ever on what my crew can obtain.
Magen McGahee, CFO
About Galaxy Future Technology, Inc.
Galaxy Future Generation (OTCQB:GAXY) is a provider of interactive studying know-how options that will allow the presenter and participant to interact in a fully collaborative tutorial atmosphere. Galaxy’s solutions contain Galaxy’s personal non-public-label interactive touch screen panel as well as various other national and worldwide branded peripheral and interaction units. Galaxy’s distribution channel is made up of 22+ resellers throughout the U.S. who mostly offer the Firm’s products and solutions inside of the industrial and instructional marketplace. Galaxy does not management where by resellers concentrate their resell efforts, even though commonly, the K-12 training current market is the premier client foundation for Galaxy goods – comprising practically 90% of Galaxy’s revenue.
For more details, you should visit our web site at: www.galaxynext.us
Risk-free Harbor Statement
This press release consists of ahead-looking statements in just the which means of Area 27A of the Securities Act of 1933 and Area 21E of the Securities Exchange Act of 1934. These ahead-searching statements are centered on the present strategies and anticipations of management and are issue to a number of uncertainties and threats that could substantially have an impact on the company’s latest strategies and anticipations, as effectively as potential success of functions and economic problem. A extra considerable listing of pitfalls and components that could have an effect on the firm’s company prospects and bring about true effects to vary materially from those explained in the forward-looking statements can be found in the reports and other paperwork filed by the company with the Securities and Trade Fee. The firm undertakes no obligation to publicly update or revise any forward-wanting statements, regardless of whether as a final result of new information and facts, future functions or in any other case.
Supply: Galaxy Up coming Era, Inc.
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