Galaxy Next Generation Inc (GAXYQ)

[5%PerDayCompounded]

We understand that this is frustrating to the shareholder community but will continue to make the best decisions we can in order to protect the investments of all."

McGahee, concluded, "In mid-February, we received an additional equity financing from an existing shareholder in order to pay off some of the converting debt and were successful in eliminating approximately $500,000 worth of eligible convertible debt. Since the beginning of 2020, we have also eliminated an additional approximate $750,000 in debt with the debt converting into equity and being sold out into the market. This has led to an increase in the shares outstanding. We will continue to work through the debt that was brought on to get the Company to the point it is at now, including the recent acquisition from September 2019. We understand that this is frustrating to the shareholder community but will continue to make the best decisions we can in order to protect the investments of all."