Segment Reporting

6 Months Ended

Dec. 31, 2018

Note 13 - 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 December 31, 2018:


	Technology	Entertainment
Assets
Cash	$ 142,141	$ 44,526
Property and equipment, net	35,825	4,040,204
Receivables	29,519	17,662
Inventory	371,205	2,408
Prepaid and other current assets	1,184	1,778
Goodwill	834,220	-
Other assets	0	1,522,714

Total Assets	1,414,094	5,629,292
Liabilities
Accounts payable	417,407	103,960
Debt	1,661,729	5,398,490
Accrued expenses	42,848	128,073

Total liabilities	$ 2,121,984	$ 5,630,523

The following table presents a summary of operating information for the six-month period ended December 31, 2018:


	Technology	Entertainment
Revenues
Technology	$ 857,586	$ -
Entertainment	-	511,044

Cost of Sales
Technology	717,240	-
Entertainment	-	163,323

Gross Profit	140,346	347,721

General and Administrative Expenses
Technology	1,940,582	-
Entertainment	-	425,188

Other Income (Expense)
Technology	(22,840)	-
Entertainment	-	14,293

Net Loss	$ (1,823,076)	$ (63,174)