TOCCOA, Ga., July 23, 2018 (GLOBE NEWSWIRE) — Galaxy Next Generation, Inc. (OTC:FLCR) (“Galaxy”), a U.S. distributor of interactive learning technology hardware and software, including touch screen panels for the educational and business sectors, that create fully collaborative instructional environments, signed a non-binding letter-of-intent (LOI) to acquire KLIK Communications, Inc., a provider of wireless presentation technology solutions, in a proposed all-stock transaction. A Wireless Presentation System is a media streaming device that enables one or more users to wirelessly present content from a PC, tablet or smartphone on a bigger screen, using screen mirroring technology.There are several features that make the screen sharing more intuitive and manageable with the KLIK product line, one of which is the built-in conference mode, which allows moderators and/or teachers to control which participant and/or student screen is being shared.
“KLIK Boks are a great complement to our product offering, broadening the range of solutions we provide our growing base of customers, while positively impacting margins,” stated founder and CEO Gary LeCroy. “With KLIK Boks we can offer customers lower cost options, and based on recent performance, we anticipate it could add up to $3 million in annual revenue while increasing profit margins on our entire product line to between 20% and 25%.”
KLIK Boks wireless presentation technology is offered in three models, addressing the specific needs of different organizations. From the full-featured and affordable CLASSIC, to the enhanced control and flexibility of the PLUS, or the premium, remotely-managed PRO, KLIK delivers the features and performance customers want, at a cost that fits their budget.
“The opportunity in the education technology space is both significant and timely,” commented Costa Lakoumentas, President of KLIK Communications. “Together with Galaxy Next Generation, we’re poised to capitalize on this opportunity with the innovative solutions that will drive long-term success.”
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.