TOCCOA, Ga., July 17, 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 the completion of its technology installation for the $85 million, state-of-the-art Valdosta High School in Valdosta, Georgia. The $500,000 contract will be realized as revenue in the current quarter.
“The Valdosta City Schools sought the best options to meet its technology goals, for today and tomorrow, and chose Galaxy Next Generation as its ideal partner to deliver the solutions it needs,” stated founder and CEO Gary LeCroy. “We’ve completed the installation of 65” G2 panels in all classrooms, as well as the installation of several 86” mobile units for common areas and larger auditorium spaces.”
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.
“The work we completed at Valdosta High School is a clear demonstration of the seismic shifts in technological demands and innovation driving industry growth,” continued LeCroy. “With a robust deal pipeline of approximately $10 million, a growing network of resellers, and our busiest customer activity period upon us, we’re well positioned for a strong start to the new fiscal new.”
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.
Forward-Looking Statements
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.
Contact:
Craig Brelsford RedChip Companies 407.644.4256 craig@redchip.com
