Galaxy Next Generation Announces Filing to Uplist to OTCQB
TOCCOA, Ga., Aug. 20, 2018 (GLOBE NEWSWIRE) -- Galaxy Next Generation, Inc. (OTC: FLCR) (“Galaxy”), a U.S. distributor of interactive learning technology hardware and software that create fully collaborative instructional environments, today announced that it has filed its application with OTC Markets to begin trading on the OTCQB.
“Listing on the OTCQB is a major milestone for Galaxy,” stated founder and CEO Gary LeCroy. “As an OTCQB company, we will be required to meet certain disclosure requirements which provide our investors with much desired transparency. We also anticipate the increased exposure we receive from trading on the OTCQB will help our story reach a wider audience, ultimately leading to long-term valuation improvement.”
The uplisting application is subject to a successful review by the OTC Markets staff. The OTCQB is a venture market designed for early-stage and developing U.S. and international companies. To be eligible, companies must be current in their reporting with the Securities and Exchange Commission and undergo an annual verification and management certification process. To learn more about the OTCQB, visit https://www.otcmarkets.com/marketplaces/otcqb.
“We look forward to reporting our continued successes to our investors in the months and quarters ahead,” continued LeCroy. “With a $10 million opportunity pipeline and multiple recent contract wins and installations in the education space, we anticipate 200% growth in fiscal year 2019, ending June 30 next year, generating between $20 million and $22 million in sales, with approximately $3 million in net income.”
The global education technology market surpassed $17.7 billion in sales in 2017 and is expected to grow to $40.9 billion, an 18.3% CAGR, by 2022.
About Galaxy Next Generation, Inc.
Galaxy Next Generation is a U.S. distributor of interactive learning technology hardware and software that allows the presenter and participant to engage in a fully collaborative instructional environment. 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. Galaxy’s distribution channel consists of 22+ resellers across the U.S. who primarily sell the Company’s products within the commercial and educational market. Galaxy does not control where resellers focus their resell efforts, although generally, the K-12 education market is the largest customer base for Galaxy products – comprising nearly 90% of Galaxy’s sales.
Certain statements contained in this press release are forward-looking statements and are based on future expectations, plans and prospects for FLCR’s business and operations and involve a number of risks and uncertainties. FLCR’s forward-looking statements in this report are made as of the date hereof and FLCR disclaims any duty to supplement, update or revise such statements on a going forward basis, whether as a result of subsequent developments, change, expectations or otherwise. In connection with the “safe harbour” provision of the Private Securities Litigation Reform Act of 1995 FLCR is identifying certain forward-looking information regarding, among other things, the merger of GALAXY into GMS, which is a wholly owned subsidiary of FLCR. Actual events or results may differ materially from those contained in these forward-looking statements. Important factors that could cause further events or results to vary from those addressed in the forward-looking statements include, without limitation, risks and uncertainties arising from the ability of FLCR to successfully complete the merger, to implementation of Galaxy’s business plan; uncertainties relating to the ability to realize the expected benefits of the merger; unanticipated or unfavorable regulatory matters; general economic conditions in the region and industry in which GALAXY operates, and other risk factors as discussed in FLCR’ s other filings made from time to time with the United States Securities and Exchange Commission.
Craig BrelsfordRedChip Companies407.644.4256 firstname.lastname@example.org