Segment Reporting

3 Months Ended

Sep. 30, 2018

Note 12 - Segment Reporting

The Company has identified two reportable segments due to the merger that occurred on June 22, 2018: Technology and Entertainment.

The Technology segment sells 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.

The Entertainment segment owns and operates Georgetown 14 Cinemas, a fourteen-theater movie complex located in Indianapolis, Indiana. Entertainment generates revenues from movie ticket sales and concessions. As part of the merger agreement, the parties have the right to spinout the Entertainment segment to the prior shareholders of FLCR. Management plans to implement the spinout in order to focus on its primary business plan, which is Galaxy.

The following table presents a summary of identifiable assets as of September 30, 2018:



		Technology	Entertainment
Assets
	Cash	$ 190,262	$ 20,352
	Property and equipment, net	40,442	4,124,798
	Receivables	33,097	17,663
	Inventory	362,203	6,008
	Prepaid and other current assets	1,184	1,778
	Other assets	1,511,844	10,870
	Goodwill	892,312	-

	Total Assets	3,031,344	4,181,469

Liabilities
	Accounts payable	350,115	161,540
	Debt	836,657	5,401,294
	Accrued expenses	24,998	130,392

	Total liabilities	1,211,770	5,693,226

The following table presents a summary of operating information for the year ended September 30, 2018:



Revenues
	Technology	$ 502,664	$ -
	Entertainment	-	216,755

Cost of Sales
	Technology	407,351	-
	Entertainment	-	71,558

Gross Profit		95,313	145,197

General and Administrative Expenses
	Technology	650,067	-
	Entertainment	-	213,527

Other Income (Expense)
	Technology	(9,764)	-
	Entertainment	-	1,395

Net Loss		(564,518)	(66,935)