 Increased Budgetary Spending at U.S. K-12 Schools Continues to Accelerate Deferred Revenue and Backlog Conference Call Scheduled for Today at 9:00am ET TOCCOA, GA ACCESSWIRE May 14, 2021 Galaxy Next Generation, Inc. OTCQB:GAXY, a provider of interactive learning technology solutions, today announced the Companys operating and financial results for the fiscal third quarter and nine months ended March 31, 2021. Key Financial Highlights for Three Months Ended March 31, 2021 Cash increased 280 to 742K Revenue increased 123 to 777K Deferred revenue of 800K Product Gross Margin improved to 54 Inventory increased to 2.2 million Accounts Receivable increased to 1.3 million Receivables are collected on as product shipsinstalls and we have been successful in collecting half of the open AR subsequent to quarter end thus far Total Assets increased to 6.6 million Total Liabilities decreased by 0.6 million With another 1 million decrease subsequent to quarter end with the elimination of legal settlement Backlog 1.9 million with product due in this month for order fulfillment prior to June 30. 