v3.10.0.1

Note 12 - Segment Reporting

3 Months Ended

Jun. 30, 2018

Notes

Note 12 - Segment Reporting

Note 12 - Segment Reporting

The Company has identified two reportable segments: 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 of its Entertainment subsidiary in order to focus on the growth and success of Galaxy; however no formal date has been approved the Company to spinout the Entertainment segment as of the date of this filing.

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

		Technology		Entertainment
Assets
Cash		151,853		32,402
Property and equipment, net		45,059		4,209,392
Receivables		326,183		15,543
Inventory		580,756		6,008
Prepaid and other current assets		1,184		12,450
Other assets		-		1,511,844
Goodwill		58,092		834,220
Total Assets		1,163,127		6,621,859
Liabilities
Accounts payable		570,069		201,011
Debt		951,453		5,393,385
Accrued expenses		22,495		124,483
Deferred revenue		219,820		-
Total Liabilities		1,763,837		5,718,879

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

		Technology		Entertainment
Revenues
Technology		172,754		-
Entertainment		-		34,946
Cost of Sales
Technology		171,304		-
Entertainment		-		6,804
Gross Profit		1,450		28,142
General and Administrative Expenses
Technology		270,668		-
Technology professional fees		448,256		-
Technology stock compensation		645,200		-
Entertainment		-		7,404
		1,364,124		7,404
Other Income (Expense)
Technology		(4,521)		-
Entertainment		-		(23,666)
Net Loss		(1,367,195)		(2,928)

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- References

No definition available.

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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