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Cov-Shield (G2) Galaxy Next Generation Inc (OTCMKTS: GAXY) Surges Higher as CC Looms

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Galaxy Next Generation Inc (OTCMKTS: GAXY) is making a powerful move up the charts in recent days since a brief dip below the $0.01 mark. The stock has been a volume leader in small caps in recent months as its Cov-Shield line of products gain serous traction.

Recently G2 reported record Q4 and FY 2020 results booking revenue of $469,179 and $2,319,852, representing overall growth of 65% and 44%, respectively, in technology interactive panels, related products and interactive learning technology solutions. G2 also reported a current backlog of $2.43 million in orders.

Galaxy Next Generation, Inc. (OTCQB:GAXY), a provider of interactive learning technology solutions. G2 distribution channel consists of 22+ resellers across the U.S. who primarily sell the Company’s products within the commercial and the K-12 education market which is the largest customer base for G2 products – comprising nearly 90% of the company’s sales. G2 is led by seasoned corporate executive Gary LeCroy who has acted in senior management positions for a multiple of public Company’s since 2004. During his time as the head of G2, Mr. LeCroy has taken the company through a multitude of evolutions. From printing services, to AV product integration to the eventual manufacturing of interactive flat panels. Mr. LeCroy’s astute management practices and way with his employees are what has driven G2 to be so successful and to experience such rapid expansion. The Company has a conference call scheduled for this Wednesday at 4:30 pm eastern.

G2 brands include; G2 Phoenix Communicator, a school bell and intercom system that provides key information not only to your school campus but even district wide. G2 Adjust-A-Mount Height-Adjustable Wall Mounts for Interactive Displays come in three sizes 200, 400, and 600 and are perfect for the Office, School, Healthcare, and Tradeshows. G2 Interactive TeacherView Distance Learning Software by Radix, powered by G2 allows teachers to easily shares their screen and manage their class’s learning on school or BYOD devices, when in school or at home and assist students in real-time. G2 “Cov-Shield” is a clear barrier that is easy to set up, easy to move and easy to clean! G2 Cov-Shield comes in two types.

In September G2 reported Q4 financial results; Revenue for the three months ended June 30, 2020 was $469,179, an increase of $304,474 or 65%, compared to $164,705 for the three months ended June 30, 2019. Additionally, deferred revenue amounted to $1,133,992, compared to $247,007 at June 30, 2019. Deferred revenues increased due to the increases in the customer base for interactive panels and related products as well as additional deferred revenues of Concepts and Solutions, acquired in September 2019. Revenues substantially consisted of revenues from sales of technology interactive panels and related products. Revenues increased primarily due to the increases in the customer base for interactive panels and related products as well as additional revenues from our subsidiaries, Concepts and Solutions, which were acquired in September 2019. Gross profit for the three months ended June 30, 2020 was $449,451, an increase of $885,366, compared to a gross loss of $435,915 for the three months ended June 30, 2019.

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GAXY

GAXY management has been busy behind the scenes paying down debt recently reporting the Company has decreased the liabilities and convertible debt reflected on the Company’s balance sheet in its most recent 10K filing by $2.5 million, including cash payments of $1 million and a combination of stock and cash for the additional $1.5 million. Galaxy continues to work hard to focus its efforts on cleaning up past debt obtained by the Company in its infancy. While infusions of capital will continue to be important to the Company’s fast growth plan, the Company is also cognizant of partnering with the right investors moving forward and the effect of investments on its shareholders.

GAXY closed its asset purchase of Classroom Technology Solutions (“CTS”), a designer, manufacturer, importer and integrator of audio-visual products, with headquarters in Jacksonville, Florida. The purchase of CTS’s assets will prove to be accretive to Galaxy’s bottom line. As part of the purchase agreement, Galaxy is gaining access to not only years of customer support to the CTS brands, but also years of buying power from the CTS president, Cy Marshall. Cy will be joining the Galaxy team as part of the acquisition as Galaxy’s Product Officer. His relationships with global vendors has already proven to be helpful to Galaxy’s import activity by decreasing Galaxy’s cost of goods, by an average of 50%, on several products sold under the G2 brands. This is an important step for the Company as management strives towards profitability in the coming quarters. CTS received the 2020 Best of Jacksonville Award in the Audio-Visual Supplier category and has also been recognized as one of the “Fastest Growing Private Companies in Northeast Florida” as well as “Largest Technology Service Companies” and “Top Integrators” by the Jacksonville Business Journal.

In a recent update GAXY management stated: “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.

 

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Currently running northbound since a brief dip below $0.01 GAXY is among the most exciting stoires in small caps; Galaxy’s products include Galaxy’s own private-label interactive touch screen panel as well as numerous other national and international branded peripheral and communication devices and they are selling fast. GAXY is marketing Cov-Shield, a clear plexi-glass barrier for personalized workspace for the U.S. education and business markets that is gaining seroius traction. Recently G2 reported record Q4 and FY 2020 results booking revenue of $469,179 and $2,319,852, representing overall growth of 65% and 44%, respectively, in technology interactive panels, related products and interactive learning technology solutions. G2 also reported a current backlog of $2.43 million in orders.During the quarter G2 was awarded a $350,000 contract from Valdosta City School District in Georgia, and a $250,000 contract from south Florida school district. Microcapdaily started reporting on GAXY at $0.003 in early July. We will be updating on GAXY when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with GAXY.

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Disclosure: we hold no position in GAXY either long or short and we have not been compensated for this article.

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