GAXY Galaxy Next Generation Inc (CE)

Robust Orders and Record Federal Spending Could Spell Major Boom for GAXY School Safety and Digital Distance Learning Solutions

• Stimulus Bill allocates $130B to schools and $350 billion in state and local relief funds to help school districts close budgets gaps and provide additional resources for reopening and Covid testing

• GAXY provides products for safer school reopenings and for distance learning

• GAXY reports record sales orders with nearly $1,000,000 in new purchase orders for just one single day

• GAXY shares are trading at $.024 that is down on profit taking from a recent high of $.073

March 31, 2021 -- InvestorsHub NewsWire -- via BioResearchAlert -- Galaxy Next Generation  (OTCQB:GAXY)  is a provider of interactive learning technology solutions 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.

.

The U.S. Education Department released an estimate of how much money each state can expect to receive for K-12 schools under the stimulus plan, which included a total of $168 billion for K-12 and higher education. School districts will have until 2024 to spend the stimulus aid.

The American Rescue Plan includes:

• $123 billion for K-12 schools to be distributed through the federal Title I formula for funding schools and districts with concentrated poverty. The K-12 dollars will be focused on helping schools reopen and helping students catch up on learning they have missed during the pandemic. Districts must spend at least 20 percent of the money addressing learning loss and must make public a plan for returning to in-person schooling safely. Another $2.75 billion is allotted for private K-12 schools, bringing the total to about $126 billion.
• State education agencies can hold on to about 10 percent of the allocation before distributing the remainder to districts. State agencies must spend at least 5 percent on learning loss, 1 percent on summer learning, and 1 percent on afterschool programs.
• $40 billion to support higher education institutions, most of which would go in direct grants to public and nonprofit colleges and universities, as well as vocational programs. Minority serving institutions would receive additional support.
• $2.75 billion for governors to share with private schools. This is the primary mechanism for supporting schools beyond the public sector.
• $7.2 billion for the E-rate program that makes it easier to connect homes and libraries to the internet.
• $3 billion in added funding to support students with disabilities

• $1 billion to expand national service programs to support response and recovery, including tutoring programs in schools and other priorities.

• $800 million to support education and wraparound services for homeless children

Galaxy Next Generation Blows Away Company Single Day Record with Nearly $1,000,000 in New Purchase Orders

Long-Standing Customer(s) Expands Relationship with Interactive Touch Panels, Set a New Record for G2 Interactive Products in a Single Day

GAXY announced that Valdosta City School District and Newton County School District, both in Georgia, have initiated additional new purchase orders totaling $916,000.

The new purchase orders were initiated and processed prior to the passing of the new stimulus funding for education and are great indicators of Galaxy's growth potential due to increased resources to school budgets. The new orders include G2 interactive panels, accessories (G2 wireless keyboards and mobile stands) and G2 Suite of learning software and demonstrate both customers continued support for technology in the classrooms and school buildings.

Gary LeCroy, Galaxy's Chief Executive Officer, commented, "Valdosta and Newton are both continual long-standing customers having purchased a wide variety of our technology solutions for in the classroom and school building. This aggregate of purchase orders received yesterday represents several smaller orders as well as the single largest order received from Valdosta to-date. Receiving these orders yesterday gives us great insight into Galaxy's possibilities after budgets are increased, with the final passing of the new stimulus package."

The Valdosta City School District is a public school district in Valdosta, Georgia with 7,000 student enrollment and 450 faculty. It serves the city of Valdosta, with its five elementary schools, 2 middle schools, one high school, one alternative school and one academy.

For additional information on Valdosta City Schools, please visit: https://www.gocats.org

The Newton County Schools System is a public school district in Newton County, Georgia, based in Covington, with 20,000 student enrollment and 850 faculty. It serves the communities of Covington, Mansfield, Newborn, Oxford, Porterdale, and Social Circle., with its thirteen elementary schools, five middle schools, three high schools, one alternative, one academy, and one theme school.

For additional information on Newton County Schools, please visit: https://www.newtoncountyschools.org

Conclusion

GAXY appears well positioned to benefit from the high-priority nationwide effort to reopen schools and the enormous government spending to insure a safe reopening. Shares recently traded as high as $.073 and have pulled back in a typical consolidation at $.024. Sales and orders are increasing at record rates and the company is poised to experience continued record growth which could increase share values again.

Safe Harbor Statement 
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Disclosure

BioResearchAlert has been compensated up to five thousand dollars via bankwire by third party, Shore Thing Media, LLC. to conduct a five-day (3/23/21-3/24/21) investor relations advertising marketing campaign for GAXY.

 SOURCE: BioResearchAlert