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Private company

GALAXY NEXT GENERATION, INC.

Motion picture theaters services company1

In its 2022 annual report the company says: “We develop both hardware and software that allows the presenter and participant to engage in a fully collaborative instructional environment. We also develop award winning classroom audio solutions, school PA and Intercom products, and emergency communication applications creating a full line card offering for classrooms to our channel partners.”32 It is headquartered in Toccoa, Georgia.1

Last updated Oct 21, 2026.

Overview

$3.9MRevenue, fiscal 20222
-$6.3MNet income, fiscal 20222
  • IndustryServices-Motion Picture Theaters1
  • HeadquartersToccoa, Georgia1
  • Business address285 Big A Road, Toccoa, Ga 305773
  • Filer categoryNon-accelerated filer, Smaller reporting company3

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2022

14.1%Gross margin2
-119.9%Operating margin2
-158.6%Net margin2
4.5%Revenue growth, 20222
-$1.4MFree cash flow2

Where the money goes

Where each dollar of revenue went, fiscal 2022

  • Cost of revenue39¢$3.4M
  • Selling, general and admin61¢$5.3M

Out of $3.9M in revenue.2 The company lost money this year.

Financial statements

Revenue456782$3.9M in 2022+245% since 2015
0$1.0M$2.0M$3.0M$4.0M2015: $1.1M$1.1M20152016: $1.1M$1.1M2016−5%2017: $1.1M$1.1M2017+4%2018: $2.3M$2.3M2018+106%2019: $1.9M$1.9M2019−19%2020: $2.3M$2.3M2020+23%2021: $3.8M$3.8M2021+63%2022: $3.9M$3.9M2022+4%
Gross profit456782$554.3K in 2022−29% since 2015
0$500.0K$1.0M$1.5M$2.0M2015: $779.3K$779.3K20152016: $761.3K$761.3K2016−2%2017: $692.7K$692.7K2017−9%2018: $426.4K$426.4K2018−38%2019: $115.7K$115.7K2019−73%2020: $1.2M$1.2M2020+923%2021: $1.7M$1.7M2021+43%2022: $554.3K$554.3K2022−67%
Operating income456782-$4.7M in 2022+1282% since 2015
-$10.0M-$7.5M-$5.0M-$2.5M02015: -$342.2K-$342.2K20152016: -$237.2K-$237.2K2016−31%2017: -$574.4K-$574.4K2017+142%2018: -$1.1M-$1.1M2018+100%2019: -$5.7M-$5.7M2019+398%2020: -$9.7M-$9.7M2020+70%2021: -$6.2M-$6.2M2021−37%2022: -$4.7M-$4.7M2022−23%
Net income456782-$6.3M in 2022+799% since 2015
-$30.0M-$20.0M-$10.0M02015: -$695.7K-$695.7K20152016: -$1.1M-$1.1M2016+54%2017: -$763.4K-$763.4K2017−29%2018: -$1.2M-$1.2M2018+54%2019: -$6.7M-$6.7M2019+466%2020: -$14.0M-$14.0M2020+111%2021: -$24.4M-$24.4M2021+74%2022: -$6.3M-$6.3M2022−74%
Fiscal year20152016201720182019202020212022
Revenue$1.1M4$1.1M5$1.1M5$2.3M6$1.9M7$2.3M8$3.8M2$3.9M2
Cost of revenue$363.2K4$326.2K5$435.5K5$1.9M6$1.8M7$1.1M8$2.1M2$3.4M2
Gross profit$779.3K4$761.3K5$692.7K5$426.4K6$115.7K7$1.2M8$1.7M2$554.3K2
Research and development$90.7K8$08
Selling, general and admin$712.9K4$698.0K5$956.3K5$5.8M7$10.9M8$7.9M2$5.3M2
Operating expenses$02
Operating income-$342.2K4-$237.2K5-$574.4K5-$1.1M6-$5.7M7-$9.7M8-$6.2M2-$4.7M2
Interest-$353.5K4$348.6K5$303.8K5$40.2K6$333.9K7$5.1M8$8.3M8
Income before tax-$6.3M2
Income tax$04$05$05
Net income-$695.7K4-$1.1M5-$763.4K5-$1.2M6-$6.7M7-$14.0M8-$24.4M2-$6.3M2
Earnings per share-$2.002-$0.002
Earnings per share (diluted)-$2.002-$0.002
Shares (weighted, basic)2.3B shares2
Shares (weighted, diluted)2.3B shares2

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Corporate structure

GALAXY NEXT GENERATION, INC. sits at the top of its group. 1 entity on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of GALAXY NEXT GENERATION, INC.

  • Morgan Stanley Filed SCHEDULE 13G on GALAXY NEXT GENERATION, INC., latest Feb 5, 2025
  • Gary Lecroy Filed SC 13D/A on GALAXY NEXT GENERATION, INC., latest Jul 5, 2022
  • Magen McGahee Filed SC 13D/A on GALAXY NEXT GENERATION, INC., latest Jul 5, 2022
  • GALAXY NEXT GENERATION, INC. Toccoa, Georgia

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What GALAXY NEXT GENERATION, INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$490.0K2 Jun 30, 2022$196.3K2 Jun 30, 2021+149.6%
Accumulated depreciation$141.1K2 Jun 30, 2022$109.5K2 Jun 30, 2021+28.9%
Property and equipment, net$348.9K2 Jun 30, 2022$86.8K2 Jun 30, 2021+301.9%
Operating-lease assets (leased space)$179.5K2 Jun 30, 2022$208.1K2 Jun 30, 2021−13.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$300.9K2 Jun 30, 2022$541.6K2 Jun 30, 2021−44.4%
Marketable securities, current$274.9K2 Jun 30, 2022$274.9K8 Jun 30, 20210%
Deposits held (banks)$457.7K2 Jun 30, 2022

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$834.2K2 Jun 30, 2022$834.2K2 Jun 30, 20210%
Finite-lived intangibles, gross$2.7M2 Jun 30, 2022$2.2M2 Jun 30, 2021+22.3%
Accumulated amortization-$1.2M2 Jun 30, 2022-$680.2K2 Jun 30, 2021−77.2%
Finite-lived intangibles, net$1.4M2 Jun 30, 2022$1.5M2 Jun 30, 2021−4.9%

Inventory

ItemLatestA year beforeChange
Inventory, total$1.0M2 Jun 30, 2022$3.3M2 Jun 30, 2021−69.3%

Leadership

Who has led GALAXY NEXT GENERATION, INC., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Gary Lecroy2018–2022

Chief financial officer

  1. Magen McGahee2020–2022

Chief operating officer

  1. Magen McGahee2018
20202025
Board members and other officers (2)

Former names

  • FULLCIRCLE REGISTRY INCMay 14, 2002 to Sep 20, 20183
  • EXCEL PUBLISHING INCDec 15, 2000 to May 3, 20023

Timeline

  1. Dec 12, 20248-K Bankruptcy or receivership16
  2. Apr 20, 20238-K Change of auditor17
  3. Feb 2, 20238-K Bylaws or fiscal year changed18
  4. Dec 15, 20228-K Unregistered sale of shares19
  5. Nov 8, 20228-K Entered a material agreement; Unregistered sale of shares20
  6. Sep 23, 20228-K Results of operations21
  7. Sep 9, 20228-K Entered a material agreement; New debt or obligation; Unregistered sale of shares22
  8. Sep 2, 20228-K Bylaws or fiscal year changed23
  9. Jul 11, 20228-K Entered a material agreement; New debt or obligation; Unregistered sale of shares24
  10. Jun 29, 20228-K Unregistered sale of shares; Change in control; Bylaws or fiscal year changed25
  11. Jun 27, 20228-K Unregistered sale of shares; Bylaws or fiscal year changed; Other events26
  12. Jun 27, 20228-K Unregistered sale of shares; Bylaws or fiscal year changed; Other events27
  13. Jul 20, 2018New chief executive Gary Lecroy becomes CEO13

Calendar

When it reported results

  1. Sep 23, 2022Reported quarterly or annual results21

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

53 filings to the SEC since October 2021: 1 annual reports, 9 quarterly reports, 14 major events, 3 insider forms, 3 large holders, 23 other. The latest 20:

  1. Feb 20, 2025REVOKED EDGAR
  2. Feb 5, 2025SCHEDULE 13G EDGAR
  3. Dec 12, 20248-K CURRENT REPORT EDGAR
  4. Sep 28, 2023NT 10-K NOTIFICATION OF LATE FILING EDGAR
  5. Jul 5, 2023EFFECT EDGAR
  6. Jul 5, 2023424B3 PROSPECTUS [RULE 424(B)(3)] EDGAR
  7. Jun 29, 2023CORRESP EDGAR
  8. Jun 29, 2023S-1/A AMENDED REGISTRATION STATEMENT EDGAR
  9. Jun 28, 2023UPLOAD EDGAR
  10. Jun 26, 2023S-1 REGISTRATION STATEMENT EDGAR
  11. May 24, 202310-Q/A AMENDED QTR. REPORT TO INCLUDE IXBRL EXHIBITS EDGAR
  12. May 22, 202310-Q QTR. REPORT - MARCH 31, 2023 EDGAR
  13. May 12, 2023NT 10-Q NOTIFICATION OF LATE FILING EDGAR
  14. Apr 20, 20238-K CURRENT REPORT EDGAR
  15. Feb 16, 202310-Q/A AMENDED QTR. REPORT TO INCLUDE IXBRL EXHIBITS EDGAR
  16. Feb 14, 202310-Q QTR. REPORT - DEC. 31, 2022 EDGAR
  17. Feb 2, 20238-K CURRENT REPORT EDGAR
  18. Jan 11, 2023DEF 14C DEFINITIVE INFORMATION STATEMENT EDGAR
  19. Dec 28, 2022PRE 14C PRELIMINARY INFORMATION STATEMENT EDGAR
  20. Dec 15, 20228-K CURRENT REPORT EDGAR

The 53 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

4 open-market trades by officers, directors and large owners since October 2021: 4 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Mar 11, 2022McGahee MagenCFOBuy3,500$0.64$2.2KForm 4
Mar 10, 2022McGahee MagenCFOBuy2,550$0.61$1.6KForm 4
Mar 9, 2022McGahee MagenCFOBuy50$0.55$28Form 4
Mar 8, 2022McGahee MagenCFOBuy400$0.43$172Form 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$310.8K 2020–2020
Money received by yearMoney received by year, 2020–2020: $310.8K in all. PPP loans $310.8K.$0$100K$200K$300K$400K2020 · PPP loans: $310.8K2020
Figures by year
YearPPP loansTotal
2020$310.8K$310.8K

PPP loans

Paycheck Protection Program loans of $150,000 and up, approved April 2020 to July 2021, from the SBA31. Matched to this company by name and state.

  1. May 1, 2020$310.8K PPP loan (first draw) from JPMorgan Chase Bank, National Association31To GALAXY NEXT GENERATION, INC, Toccoa GA; $315.6K forgiven Nov 12, 2021

SEC filer profile

How GALAXY NEXT GENERATION, INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARGALAXY NEXT GENERATION, INC.1
  • CIK0001127993
  • Employer ID (EIN)61-13630261
  • Filer statusNon-accelerated filer<br>smaller reporting company1
  • Fiscal year endsJune 301
  • Industry code (SIC)7830 Services-Motion Picture Theaters1
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
  • Business address285 Big A Road, Toccoa, GA 305771
  • Phone770-804-05001
  • Shares outstanding69,872,693 as of Feb 13, 20239
  • Public float$498 as of Dec 31, 20212
  • On EDGAR sinceDec 15, 20001
  • Filings389 in all: 8-K (76), 10-Q (45), CORRESP (31), NT 10-Q (30), UPLOAD (24), 10QSB (22), S-1/A (18), NT 10-K (17)1
    All 38 form types

    10-K (14), 4 (13), 10-Q/A (9), 424B3 (8), 8-K/A (8), EFFECT (8), S-1 (8), 10KSB (7), S-8 (7), 10-K/A (5), 3 (4), DEF 14C (4), PRE 14C (4), SC 13D (4), 10KSB/A (3), 10QSB/A (3), SB-2 (2), SB-2/A (2), SC 13D/A (2), 10-KT (1), 10-KT/A (1), 8-A12G (1), CT ORDER (1), DEL AM (1), NTN 10Q (1), REVOKED (1), SC 13G (1), SC 13G/A (1), SC 14F1 (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Sep 23, 2022
    Quarterly report (10-Q) May 22, 2023
    Latest 8-K (8-K) Dec 12, 2024

Sources

The numbers on this page point here. Each one links to the record it came from.

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