GAXY is a "MICRO FLOAT" (16 million) COVID-19
"Shelter-in-Place" Home Schooling Play!
Galaxy Next Generation's Education Technology Solutions Enable Remote Virtual Learning, a Necessity During the Coronvirus Pandemic Press Release | 03/16/2020
TOCCOA, GA / ACCESSWIRE / March 16, 2020 / Galaxy Next Generation, Inc. (OTCQB:GAXY) ("Galaxy" or the "Company), a provider of interactive learning technology solutions, today announced that its classroom technology solutions are installed in school districts across the U.S. that are now providing remote virtual learning to students while the schools are closed due to safety precautions from the coronavirus outbreak.
Galaxy's software is cloud-based and integrated with its interactive panel solution giving students the ability to access lesson plans from anywhere via an internet connection. The software also allows for students to view live lessons during a session from their teacher.
Gary LeCroy, Galaxy's Chief Executive Officer, commented, "Our bundled educational software solution enables our school district clients to offer remote virtual learning to its students. This is especially important over the next several weeks while many schools across our nation are closed but will continue to operate remotely in providing education to its students."
Galaxy Next Generation Pays Off Convertible Notes to Avoid Potential Equity Dilution
TOCCOA, GA / ACCESSWIRE / March 17, 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 repaid and satisfied convertible notes that had become due and convertible into common stock at a discount to market.
Gary LeCroy, Galaxy's Chief Executive Officer, stated, "We are pleased that an existing equity holder shares our long-term strategy and vision and provided funding to the Company in order to pay off additional convertible notes. These notes recently matured and became convertible into common stock. We realized the negative effects those conversions were having on the dilution of our stock and the downward pressure on its price. Thus, we have repaid and satisfied these convertible notes in order to avoid any further potential equity dilution. We are in discussions with both existing shareholders and prospective new ones in order to raise additional equity capital to be prepared to repay and satisfy additional convertible notes as they mature so that we could prevent any further equity dilution and to let the stock trade on its own merits."
Galaxy Next Generation Closes Acquisition of Interlock Concepts
Innovative Audio Acquisition Adds Technology, Expansion to West Coast, and Revenue
TOCCOA, Ga., Sept. 05, 2019 (GLOBE NEWSWIRE) -- Galaxy Next Generation, Inc. (OTCQB: GAXY) (“Galaxy” or the “Company), a provider of interactive learning technology solutions, today announced the closing of its acquisition of Interlock Concepts, Inc., a west coast based audio company focused on creating innovative products that provide fundamental tools used for building notification systems.
The acquisition is comprised of a combination of cash and stock. Interlock Concepts generated approximately $4 million (unaudited) in revenue through the twelve month period ending June 30, 2019.
Interlock Concepts products and services allow institutions access to intercom, scheduling and notification systems they use every day with improved ease of use. It provides an open architecture solution which allows its products to be used in many existing and new environments. Intercom, PA, Bell and control solutions are easily added and integrated with its first to market open architecture design and current software model. Its products combine elements not normally found together over a common IP network, which minimizes infrastructure requirements and reduces costs by combining systems. This strategy also places it at the forefront of school safety and communication.
Gary LeCroy, Galaxy’s Chief Executive Officer, commented, “We are pleased to close this acquisition ahead of schedule, as we previously announced our target date of end of September. We are very excited to add Interlock Concepts’ innovative audio technology to our product suite, as its something that our end customers, especially in the K-12 market segment have been demanding. Interlocks strong growth in the first half of 2019 supports our belief that their technology and positioning in the marketplace will help accelerate our growth. We look forward to working with Brad Ehlert, who successfully started Interlock Concepts and bootstrapped the company from inception. Brad has created solutions implemented in over 1,000 schools valued over $5 billion in 5 years.”
Interlock Concepts Key Products:
- Phoenix Software Suite (Notification and building communication platform)
Classroom Audio Product Suite (Amplifier, Lanyard Microphone, Handheld Microphone and speakers)
Intercom Product Suite (Call Buttons, Microphones and Alert Buttons)
IP Notification Devices (Clock and Speakers)
Speakers (Soundbar, In-ceiling and Wall)