TOCCOA, GA / ACCESSWIRE / August 4, 2021 / Galaxy Future Technology, Inc. (OTCQB:GAXY) (‘Galaxy’ or the ‘Company), a service provider of interactive discovering technology methods, is happy to give the subsequent Shareholder Update Letter.
As always, it is of upmost worth to me and the other executives of Galaxy to offer continued conversation and transparency to our shareholders. There is incredible buzz all-around the U.S. schooling marketplace presented the influx of methods made out there to universities by the numerous stimulus grants assigned in guidance with the Covid-19 pandemic. Most of the nation is coming into a new faculty year and after experiencing our busiest summer months to-date, we are fired up to see our college students benefiting from our technology obtaining delivered and mounted ahead of they return. With the fast paced time however among us, I felt it finest to summarize some of our most recent milestones and make a combined information on the development we go on to make with our brand name, our gross sales, and our products advancement.
Ahead of jumping into the operational progress and the real successes in revenue and corporate gains, I really feel that it is also essential to tackle quite a few ‘market’ thoughts that have been asked as of late. In phrases of GAXY and the new rule impacting certain non-present OTC shares (SEC’s Amendments to Rule 15c2-11), GAXY is a entirely compliant and fully reporting OTCQB company and therefore will not be afflicted by any alterations being executed by brokers in accordance with the modification. We continue to choose our compliance quite serious. Our next economic report is our yearly 10K due by September 30th. The audit staff and I are functioning tricky to make certain that this report is not only submitted but filed early. We will be capable to discuss a lot more at this time on fiscal updates and harmony sheet milestones and will put up a date for the subsequent earnings connect with together with the 10K.
There has also been a ton of discuss and queries relating to dilution. In January (in a previous shareholder update letter) we announced the elimination of all poisonous convertible debt. The Firm has held by our assure to not increase any convertible financial debt back again to the stability sheet and has no intentions of accomplishing so relocating forward. So, the prior statements nonetheless maintain true. There has been no issuance of stock (minus small consultancy expenses) exterior the earlier recorded type S-1 which released back again on January 19th, 2021. This equity trader has been paramount in making sure we are able to fund the development knowledgeable in our fiscal 12 months 2021 and has supplied us with the important assets essential to ‘clean up’ remaining items on the stability sheet as nicely as fund the important initiatives and item enhancement for our ongoing very long-time period achievements. The incremental increase in shares remarkable is owing to these beforehand announced and registered shares getting placed in the industry. Our companion in expenditure has permitted the Firm to disperse the shares at our discretion so that they have been not launched to the market all at just one time, which would have led to a considerably more impactful result on inventory price. The Company’s improve in product sales has permitted us to have extra internal money methods out there to us and we will carry on to pattern in this course.
Some of the modern operational milestones have provided the addition of new income and advertising and marketing associates to our crew, the addition of new resellers, results in new contracts and bids, and new item enhancement and securing that intellectual residence.
Just given that July 1 2021, we have additional 3 new members to the gross sales and advertising and marketing group and carry on to lookup for the perfect candidate for the Mid-West Regional Product sales Supervisor career submitting.
- Carrie Amelio joined the crew as the Northeast Regional Gross sales Manager based mostly in PA and carrying ~13 states in the Northeast/New England territory. Carrie joined us with decades of practical experience in health-related income, both of those components and software program. She provides not only practical experience in relational income but delivers insight into the Health-related/Medical center sector which is one particular of our company aims as we crack into new verticals.
- Walt Mischley has been with Galaxy considering that our asset obtain of CTS in a consulting role related to bids and contracts. Even so, Walt has years of sales knowledge jogging his own firm, as well as a reseller of numerous lines and a manufacturer’s agent of distinct ed tech items. Walt is now heading up our Texas marketplace as a comprehensive-time staff as our growth there of both equally resellers and contracts has been in depth.
- Also signing up for our group in a whole-time situation is Pam Fisher who also at first joined Galaxy when we bought the assets of CTS. She will be heading up our internal marketing endeavours and will be the liaison involving administration and the initiatives staying made by CB&A (our previously introduced internet marketing organization). Pam has in depth practical experience in each Marketing and advertising and Sales and is a big addition to the crew for help in e mail strategies, promoting messaging, and products demonstrations.
In addition to our formerly declared contracts and bids for the approaching university many years paying for requires (which most are readily available to start off purchasing off of at the return of this faculty 12 months) Location 18, TX (Nationwide bid), White Settlement ISD, TX, Arlington ISD, TX, Abilene ISD, TX, Northwest ISD, TX, Richland County School District, SC, Charlotte County Educational institutions, FL, and St Johns County Educational facilities, FL, we have also secured the subsequent that have not been beforehand declared.
- Invest in Board- Audio Video, National
- Recommendations, Countrywide
- Superior Buy Co-Op, Countrywide
- Rockwall ISD, TX
- Harlingen ISD, TX
- Killeen ISD, TX
- McAllen ISD, TX
- Mansfield ISD, TX
- Channel Look at ISD, TX
- Edinburg ISD, TX
- Eagle Mountains/Saginaw ISD, TX
- Sherman IDD, TX
In phrases of other profits and achievement, we have manufactured great strides in conquering element and solution shortages because of to Covid-19 backlog troubles. We have a continual move of inventory for our Interactive Flat Panel line of merchandise and have found a steady increase of orders in relation to classroom upgrades to aid the desires of our clients.
We have also secured (in excess) the elements necessary to manufacture and assemble our audio amplification system and have transported more than 700 models to an OEM partner since July 1. As element of our overall small business program and revenue technique, this product or service household will be a more reliable source of revenue to stabilize the seasonality of historical goods sales.
Our items and our people today are what can make us a accomplishment and the continuation of improvements on each are starting off to reflect in our total efficiency. More revenue staff members potential customers to much more profits. A lot more contracts and bid awards direct to extra opportunities. Far more goods and new systems guide to more buyers and income come to be proprietary to Galaxy. We have invested this past calendar year in both our men and women (not possessing any lay-offs all through the pandemic interval) and our products and solutions, to make sure we are foremost the industry in impressive approaches, and it IS shelling out off.
As we go on to go in the direction of a greater and greater enterprise, we also keep on to move to a even larger and extra respected listing exchange. This maintains to be a objective for us, and we have been analyzing all the solutions accessible to us to address the stock selling price prerequisites. These conversations are ongoing in just our board conferences and no selections have been reached at this time. We are thrilled to share our forthcoming yearly report with you and will address Q4 separately in the administration analysis segment in buy to increase the development that has been manufactured considering that our very last quarterly report.
We enjoy your endurance as we shift at these types of a quick speed. I realize your want for constant (daily) updates and will do my finest to deliver new and remarkable partnerships, product sales, and developments as they unfold.
My confidence is greater than at any time on what my staff can obtain.
Magen McGahee, CFO
About Galaxy Upcoming Era, Inc.
Galaxy Following Era (OTCQB:GAXY) is a service provider of interactive discovering technology solutions that lets the presenter and participant to engage in a totally collaborative tutorial setting. Galaxy’s items include Galaxy’s individual personal-label interactive touch display panel as properly as various other national and international branded peripheral and communication units. Galaxy’s distribution channel consists of 22+ resellers across the U.S. who primarily promote the Firm’s products in just the commercial and academic market. Galaxy does not regulate in which resellers concentrate their resell attempts, although typically, the K-12 schooling market place is the largest buyer base for Galaxy products – comprising nearly 90% of Galaxy’s gross sales.
For added information and facts, be sure to pay a visit to our web-site at: www.galaxynext.us
Harmless Harbor Assertion
This press launch is made up of forward-on the lookout statements in the indicating of Part 27A of the Securities Act of 1933 and Area 21E of the Securities Trade Act of 1934. These forward-on the lookout statements are based on the latest strategies and expectations of management and are matter to a variety of uncertainties and risks that could noticeably have an impact on the company’s latest options and anticipations, as very well as future benefits of operations and economical problem. A much more considerable listing of dangers and components that may perhaps impact the company’s organization prospective customers and result in real success to differ materially from all those explained in the ahead-seeking statements can be discovered in the reports and other files submitted by the firm with the Securities and Exchange Fee. The firm undertakes no obligation to publicly update or revise any ahead-looking statements, whether as a consequence of new details, potential gatherings or usually.
Resource: Galaxy Following Technology, Inc.
Watch supply variation on accesswire.com: