Company: GLEI
Filing Date: 2025-08-26
Form Type: 10-K/A
Source: 0001139020-25-000275
Chunk: 8

Company: Galaxy Enterprises Inc. /WY/
Filing Date: 2025-08-26
Form: 10-K/A
Chunk 8
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, there were approximately 37 beneficial owners of record of our common stock. Holders of common stock are entitled to receive such dividends as may be declared by the Board of Directors out of funds legally available therefore and, in the event of liquidation, to share pro rata in any distribution of our assets after payment of liabilities. The Board of Directors is not obligated to declare a dividend. We have not paid any dividends and we do not have any current plans to pay any dividends. Securities Authorized for Issuance under Equity Compensation Plans None. Item 6. Selected Financial Data. Not applicable. Item 7. Management’s Discussion and Analysis of our Financial Conditions and Results of Operations. Introduction We were incorporated on March 24, 2021 under the laws of the State of Wyoming. Results of Operations for the Year Ended July 31, 2024 From August 1, 2023 to our fiscal year end of July 31, 2024, we did not earn any revenue. From August 1, 2023 to our fiscal year end of July 31, 2024, we incurred net loss of $20, 135 consisting entirely of general and administrative fees. We have not attained profitable operations and are dependent upon obtaining financing to complete our proposed business plan. For these reasons our auditors believe that there is substantial doubt that we will be able to continue as a going concern. Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation.. Liquidity and Capital Resources As of July 31, 2024, our current assets of $15,638 consisted of $638 in cash and $15,000 in prepayments and deposits and our total liabilities were $39,152, which consisted entirely of accounts payable and accrued liabilities. We expect we will require additional capital to meet our long term operating requirements. We expect to raise additional capital through, among other methods, the sale of equity or debt securities. Cash Flows from Operating Activities We have not generated positive cash flows from operating activities. From August 1, 2023 to July 31, 2024, net cash used in operating activities was $120 consisting of our net loss for the period of $20,135 and an increase of accounts payable of $20,015. 7 Cash Flows from Investing Activities From August 1, 2021