galaxy next generation reports fiscal year third quarter 2019 results - used interactive whiteboards for sale

GA coa, GA/acceswire/Galaxy next generation May 16, 2019(OTCQB:GAXY)
Interactive Learning technology solutions providers today announced the company's operating and financial performance for the third fiscal quarter ended March 31, 2019.
Main highlights of FY Q3 2019: * New slim LCD interactive learning panel launched at future educational technology conference * signed agreement with 3 new distributors, consolidated debt decreased by $5 million in geographic and vertical expansion * commitments granted by Brooks County, Georgia school district * contracts granted by Marshall County, Alabama * contracts granted by Newtown county, in the third quarter, galaxy has sold the entertainment portion of its 14 theaters in Georgetown, which it owns and operates.
The theater in Indiana Apolis Napoli is an entity with members of a common board of directors, etitivefebruary 2019.
After the end of fiscal 2019 in the third quarter, Galaxy received additional funds totaling $1.
0. 325 billion, this will enable the company to continue product expansion, marketing work and increased inventory for future sales.
The company is having an oral discussion with adevelogic on potential new products released in the summer of 2019.
Galaxyhas recently added sales channels to three new dealers and added a new regional sales representative to their team.
Management believes that these follow-up events show their continued efforts in terms of company growth and profitability.
Management Review "We are very excited about the future of Galaxy in 2019 and beyond.
"We have successfully sold our traditional entertainment business and are now purely focused on our interactive learning technology solutions," Galaxy's chief executive Gary lakeroy commented . ". "The K-
With the development of interactive learning technology and the continuous development of the classroom, our products and services have matured and can be transformed into technology.
We are growing rapidly because our product needs are very large and the recognition of us by school districts and industry partners is also very high.
Old Technical interactive whiteboards are being replaced in full swing around the world. "Mr.
Lakeroy concluded, "The sales opportunities we have identified and are competing for are as strong as ever.
We have been committed to complementing our organic growth through strategic and value-added acquisitions, and we are delivering on that commitment.
We believe this is the K-in the beginning of the majortechnology turnaround cycle-
We look forward to being a major player in the education market.
"Financial results for the three months ended December 31, 2018: Revenue for the three months ended March 31, 2019 was $348,723, up $43,776 or 14%, compared, funds for the three months ended at $304,947, 1, 20 and 18.
The three-month Gross profit as at March 31, 2019 was $63,575, compared to $68,704 for the three-month Gross profit as at March 31, 2018.
The resulting gross profit margin is 18.
2% per cent for the three months ended March 31, 2019.
Revenue costs are consistent with manufacturing, shipping and installation costs.
The general and administrative costs for the three months ended March 31, 2019 amounted to $2,043,181, an increase of $1,477,044, or 261%, compared to $566,137 for the three months ended March 31, 2018.
General and administrative expenses mainly include salary and stock compensation expenses, office rent, insurance premiums and professional expenses.
The increase in general expenses and administrative expenses is directly related to the company's desire to grow and take advantage of market opportunities.
The net loss for the three months ended March 31, 2019 was $1,983,028, an increase of $1,463,565, or 282%, compared to the net loss for the three months ended March 31, 2018 of $519,463.
The loss of earnings per share for the three months ended March 31, 2019 was $ (0. 20)
After dilution per share, with $ (0. 06)
Diluted share per share for the three months ended March 31, 2018.
Galaxy group had $1 as of March 31, 2019, including subsequent funding.
4 million in cash, $3.
9 million debt, 10.
2 million shares and 9 shares were issued.
9 million shares have been issued.
Financial results for the nine months ended March 31, 2019: The nine monthly income as at March 31, 2019 was $1,717,353, a decrease of $431,602, or 20%, compared to the nine monthly income as at 2,148,955
Gross profit for the nine months ended March 31, 2019 was $551,642, compared to $381,354 for the nine months ended March 31, 2018.
The final total income is £ 32.
1% per cent for the nine months ended March 31, 2019.
The general and administrative costs for the nine months ended March 31, 2019 amounted to $4,408,951, an increase of $2,846,942, or 182%, compared to $1,562,009 for the nine months ended March 31, 2018.
The net loss for the nine months ended March 31, 2019 was $3,869,278, an increase of $2,652,441, or 218%, compared to the net loss for the nine months ended March 31, 2018 of $1,216,837.
Loss of earnings per share for the nine months ended March 31, 2019 was $ (0. 42)
After dilution per share, with $ (0. 14)
Diluted share per share for the nine months ended March 31, 2018.
About the next generation of Galaxy
The next generation of Galaxy (OTCQB:GAXY)
Is a provider of interactive learning technology solutions that allow presenters and participants to participate in a fully collaborative teaching environment.
Galaxy's products include Galaxy Altro's own private-
Label interactive touch screen panels as well as peripherals and communication devices from other national and international brands.
Galaxy's distribution channel consists of 22 dealers in the United States. S.
Sell the company's products in the business and education markets.
Galaxy does not control where dealers will focus their resale efforts, although in general, K-
The education market is the largest customer base for galaxy products
Nearly 90% of Galaxy sales.
For more information, please visit our website: www. galaxynext.
The next generation of Galaxy
Consolidated balance sheet in March 31, 2018 assets in June 30, 2019 (Unaudited)(Audited)
Flow assets 57,899 dollar 184,255 dollar receivable accounts 54,004 341,726 inventory 171,083 586,764 advance and other flow assets 1,184 2,764 flow assets total 284,170 1,115,509 Property and equipment, net (Note 2)
31,383 4,254,451 other AssetsGoodwill (Note 11)
834,220 892,312 Other assetsNote 11)
-
1,522,714 Other assets 834,220 2,415,026 assets total $1,149,773 $7,784,986 liabilities and shareholders rights and interests (Deficit)
Current credit limit (Note 3)
Convertible notes payable $1,230,550 $547,603, discount (Note 4)
1,131,322-
The current part of the Long-term notes payable (Note 4)
281,045 362,181 Accounts payable 555,459 771,080 advance fees 50,552 146,978 advanced shareholders (Note 5)-
260,173 Deferred revenue-
219,820 short-term notes payable (Note 4)
-
165,000 short-term notes payable-related party (Note5)
-
485,534 Total current liabilities 3,248,928 2,958,369 non-current liabilities Notes payable, minus the current portion (Note 4)
1,694 4,524,347 Total liabilities 3,250,622 7,482 shareholders rights and interests (Deficit)(
Remarks 1, 7, 11)
Common stock 999 965 extra charge
Capital 4,574,998 3,108,873 cumulative deficit (6,676,846 )(2,807,568 )
Total shareholders' equity (Deficit)(2,100,849 )
302,270 Total liabilities and shareholders' equity (Deficit)
$1,149,773 $7,784,986 Galaxy next generation
Comprehensive Business Report (Unaudited)
For the Three-
Nine months-
March 31 for the twelve a month end March 31, 2019 2018 2019 2018 revenuestechnologyinteractivepanels andrelatedproducts $261,712 $293,136 $1,106,540 $2,137,144 entertainmenttheater ticketsales andconcessions 78,661-
589,705-
Technical Office supplies 8,350 11,811 21,108 Total revenue 11,811 348,723 304,947 1,717,353 salestechnoogyinteractivepanels cost and related products 2,148,955 230,833 236,243 948,073 1,767,601 entertainment theater ticket sales and discounts 54,315-
217,638-
Total cost ofsales 285,148 cm 236,243 cm 1,165,711 cm 1,767,601 cm, total profit of 63,575 cm 68,704 cm 551,642 cm 381,354 cm general andadministrativeexpensesgeneral andadministrative 2,043,181 566,137 4,408,951 1,562,009 at a loss fromoperations (1,979,606 )(497,433 )(3,857,309 )(1,180,655 )Other Income(Expense)
Other income 97,471 177 151,289 1,056 (100,893 )(22,207 )(163,258 )(37,238 )
Total other income (Expense)(3,422 )(22,030 )(11,969 )(36,182 )
Net loss before income tax (1,983,028 )(519,463 )(3,869,278 )(1,216,837 )Income taxes(Note 8)----
Net loss of $ (1,983,028 )$ (519,463 )$ (3,869,278 )$ (1,216,837 )
Net loss of basic and complete dilution per share $ (0. 20 )$ (0. 06 )$ (0. 42 )$ (0. 14 )
Weightedaverage commonsharesdingbasic and fully diluted 10,105,121 8,572,233 9,154,161 8,572,233 Galaxy next generation company
Consolidated Statement of Cash Flow (Unaudited)
Nine-
Cash flow from operating activities for the 2018 months ended March 31, 20193,869,278 )$ (1,216,837 )
Adjustments to reconcile net losses with net cash used in operating activities: Depreciation 216,642 14,547 Amortization of convertible notes, deduction of interest charges 45,022-
Revenue from entertainment sales (60,688 )-
Service Stock issuance 921,859-
Assets and liabilities of change: receivable accounts 283,222 336,591 inventory 410,071 32,674 Prepaid expenses and other assets (34,710 )
13,029 Accounts payable (135,105 )(79,405 )
Deferred revenue of 34,344 21,367 shall be charged (219,820 )-
Net use of business activities (2,408,441 )(878,034 )
Cash flow from investment activities to purchase property and equipment(2,686 )
Net use for investment activities(2,686 )
Cash flow from financing activities(1,587 )
Principal payment of mortgage and capital debt (37,989 )(8,604 )
Principal payment payable on short-term notes (20,000 )(225,000 )Proceeds (payments)
Advance payment by shareholders, net (111,173 )
261,131 income from convertible notes payable 1,086,300-
Credit line income 682,947 ordinary shares issued income 528,603 (Note7)
637,000 Notes payable income 104,226-
Related parties 45,000-
Net provision of financing activities 2,282,085 658 Net decrease in cash and cash equivalents (126,356 )(221,951 )
Cash, beginning 184,255 232,427 spot end $57,899 $10,476 supplement and non-cash-
Non-Convertible cash debt discount $120,700Non-
Cash sales for entertainment $92,700-
This press release contains a statement of interest paid during this period cash $132,560 $37,238 Safe Harbor
Looking forward to the statements contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Trading Act of 1934. These forward-
Forward-looking statements are based on management's current plans and expectations, influenced by some uncertainties and risks that may significantly affect the Company's current plans and expectations, as well as future results of operational and financial conditions.
More broadly list the risks and factors that may affect the Company's business prospects and lead to actual results that differ from those described in Future Outlook
Finding statements can be found in reports and other documents submitted by companies to the Securities and Exchange Commission.
There is no obligation of the company to publicly update or modify any forwarding-
Statements can be viewed for new information, future events, or other reasons.
Contact information for investors: mgilbert @ magellanfin. com317-361-
2393 Source: next generation Galaxy
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