Galaxy Next Generation Inc (GAXYQ)

[elkhunter]

GAXY currently has a market cap of approximately 6.45 million. After spending over 3 million for the acquisition of Interlock Concepts with the 2 year note now being paid off the market cap should be higher. 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. I am unable to find any revenue currently being generated from the acquisition. Prior to the acquisition Interlock Concepts was generating approximately 4 million in yearly revenue. On September 4, 2019, Galaxy acquired 100% of the stock of Interlock Concepts, Inc. ("Concepts") and Ehlert Solutions Group, Inc. ("Solutions"). The purchase price for the acquisition was 1,350,000 shares of common stock and a two year note payable to the seller for $3,000,000. The note payable to the seller is subject to adjustment based on the achievement of certain future gross revenues and successful completion of certain pre-acquisition withholding tax issues of Concepts and Solutions.