Galaxy Enterprises Inc. has reported its financial results for the nine months ending April 30, 2024, revealing a net loss of $10.978 million, an increase from the $7.621 million loss recorded during the same period in the previous fiscal year. The company's total assets decreased slightly to $15.668 million from $15.758 million as of July 31, 2023. Current liabilities rose significantly to $30.025 million, up from $19.137 million, indicating a growing financial strain on the company. The accumulated deficit has also widened to $97.757 million, compared to $86.779 million at the end of the previous fiscal year.

In terms of operational performance, Galaxy Enterprises has not reported any significant changes in its customer base or user statistics, as the company remains in the development stage, focusing on establishing its real estate management services. The company has maintained a consistent number of shares outstanding at 4.170 million, with no new issuances during the reporting period. The increase in general and administrative expenses, which rose to $10.978 million from $7.621 million, reflects the ongoing costs associated with business development and operational setup.

The company has indicated that it is actively seeking to raise capital to support its operations and continue its business development efforts. Management has expressed concerns regarding the company's ability to continue as a going concern, citing the need for additional financing within the next twelve months. The financial statements highlight that the company has no current commitments from shareholders or other sources to provide liquidity, which raises questions about its operational sustainability.

Looking ahead, Galaxy Enterprises Inc. aims to generate profitable operations and secure necessary financing to meet its obligations. The company’s strategy includes focusing on cost-efficient operations and tenant retention across various property types, including office spaces and industrial facilities. However, the outlook remains uncertain as the company continues to navigate its development phase while managing increasing liabilities and operational losses. The results for the nine months ended April 30, 2024, are not necessarily indicative of future performance, and the company will need to adapt its strategies to improve its financial position.

About Galaxy Enterprises Inc. /WY/

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