October 09, 2020
Galaxy Next Generation Issues Shareholder Update
TOCCOA, GA / ACCESSWIRE / October 9, 2020 / Galaxy Next Generation, Inc. (OTCQB:GAXY) ("Galaxy" or the "Company), a provider of interactive learning technology solutions, today provided a Shareholder update and issued the following letter to its shareholders.
It is apparent to us, as management, that we have had a steady increase, in both long, and short -term shareholders. First, we appreciate all the interest in our company and the confidence you have shown through social media, chat rooms, and the constant outreach via email, text, phone, or otherwise. It has been exciting for us to see the reaction to our recent growth.
This time last year the stock was trading (albeit a higher price) approximately $8,176 in daily average volume. This month, we are glad to show a daily average trading volume of approximately $1,826,000.
Gary LeCroy and I, co-founded Galaxy Next Generation, Inc in late 2014 and ran it as a private company through the reverse merger date in June of 2018. Our business plan consisted of concentrating on our growth and expansion and raising the new capital necessary to implement our plan. Galaxy has experienced both tremendous growth and challenges this year with acquisitions, new product launches, expectations of customers and partners. This high growth was supported by our access to this new capital, some of which was convertible at a discount to market into equity. It is unfortunate that at times the stock price was affected due to the selling pressure but we believe that in the long term we made the right decision to finance growth when the potential is as large as the opportunity presented to us to take our company to the next level both market wise, but more importantly business wise.
We will continue to strive for our goals, seek accretive acquisitions, and focus on turning our growth in to a profitable revenue. This past quarter ending September 30th we saw increased interest in our products and we are pushing very hard to reveal our quarter end numbers to the market as quickly as we are able to complete our Q1, 10Q.
Your continued support is important to us as a company and we look forward to the next fiscal year having you as part of our shareholder community.
Magen McGahee CFO
and Management http://irdirect.net/prviewer/release_only/id/4488316