About The Company
Galaxy Next Generation (OTCMKTS: GAXY) provides innovative and interactive learning technology solutions that allow both participant and presenter to completely engage in a fully collaborative instructional environment. The company’s products include Galaxy’s own private-label interactive touch screen panel, and several other national and international branded peripheral and communication devices. Its distribution channel is quite strong, as it comprises over 22 resellers spread across the United States. They majorly focus on selling the company’s products within the educational and commercial market. Galaxy doesn’t have any control over the markets where resellers operate, but typically, the K-12 education market is the largest customer base for Galaxy products. It makes up almost 90% of the company’s total sales!
Trading Data
On Friday, GAXY stock moved up 10.04% to $0.2357 with more than 30K shares, compared to its average volume of 45K shares. The stock moved within a range of $0.2010 – 0.2467 after opening trade at $0.2010.
Galaxy Next Generation Announces Issuance of U.S. Patent Covering Centralized Control of Assisted Listening Audio Devices via One Communication Platform
Galaxy Next Generation, Inc. has made an announcement that the United States Patent and Trademark Office has granted U.S. Patent No. 11,363,379 to support the integration of its platforms including the G2 Communicator; bell, paging, and intercom solutions, along with the G2 Link classroom audio amplifier end-points.
Gary LeCroy, Chief Executive Officer of Galaxy, has stated that pursuing and obtaining effective intellectual property protection for the G2 platforms, which includes the fundamental IP underlying key technology, processes, and devices, is an important part of their expansion strategy. The progress is good till now, as they look towards growing the issued patent portfolio and continue filing new patent applications for their technologies.
The G2 Communicator is in control of communication throughout schools, and able to keep tabs on every product, including bell, paging, intercom solutions, and emergency communication. G2 Link is a Classroom Audio System that enhances teacher communication and student engagement in the classroom and throughout the school community.
The patent covers audio/visual systems that utilize assistive listening devices, which allows central control of the endpoints on the display of the assistive listening device itself. It also covers the family of G2 products available now, products in development, as well as future products integrating the technology. The current patent increases Galaxy’s portfolio to 2 patents issued and 3 others pending issuance.
Key Quote
“Pursuing and obtaining effective intellectual property protection for our G2 platforms encompassing the fundamental IP underlying key technology, processes, and devices is a critical part of our growth strategy,” said Gary LeCroy, Chief Executive Officer of Galaxy. “We are pleased with the progress we are making in this area as we expand our issued patent portfolio and continue to file new patent applications for our technologies.”
Technical Data
GAXY stock is trading below the 20-Day and 50-Day Moving averages of $0.27 and $0.31 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.07.
