This year, mushrooms have been popping up in a plethora of food magazines, newspapers, and websites as a certifiable trend. And it's not just as a food element. Mushrooms are becoming more prominent in nearly every aspect of modern life, ranging from food, drink, fashion, and medicine. Whether it's veterans addressing chronic conditions, stressed-out millennials and baby boomers looking for ways to unwind, or health and fitness enthusiasts looking for natural plant-based solutions to incorporate into their diet, it seems functional mushrooms are filling all these needs.
Essentially, the global mushroom industry is set to more than double within seven years, exceeding psychedelic and medicinal products and expanding into the food-and-drink market. In fact, according to Grandview Research, the functional mushroom market was valued at $29 billion in 2021 and is expected to reach at least $69 billion by 2030, representing a CAGR of 10.8%, which bodes well for companies like Galexxy Holdings, Inc. (OTC:GXXY).
Galexxy Holdings, Inc. (OTC:GXXY) is a health and wellness company focused on bringing unique and effective health and wellness products to market and also acquiring companies that offer proven as well as new health and wellness products. The company offers a full line of uniquely formulated functional mushroom and adaptogen products that have four times the nutrient benefit of others. At the moment, the company is positioning itself for a significant opportunity in functional mushrooms, which is drawing considerable investor interest.
For starters, the company recently underwent some restructuring and also completed two acquisitions, namely Wellbeing Farms LLC and ABC Wholesale Products LLC. Wellbeing Farms specializes in producing and marketing the highest-quality, scientifically formulated functional mushroom and adaptogen health products. The company achieved this by sourcing wild mushrooms and partnering with farmers, while ensuring product potency and efficacy are unlocked by its unique 100-day, triple extraction process.
To help distribute Wellbeing Farms' various products, Galexxy Holdings, Inc. (OTC:GXXY) has a unique patent-pending smart vending kiosk system that enables customers to purchase and pick up government-regulated products via electronic means or directly at the kiosk by means of a sophisticated system that legally certifies the age and identity of the customer. The smart vending kiosks will dispense various functional mushroom products following an exclusive joint venture agreement with a major international manufacturer to supply the kiosks worldwide.
In addition to this, back in August, Galexxy and Pillars International announced the formation of a new direct sales company called Galexxy LLC, with a targeted pre-launch in the 4th quarter for direct sales distributors. The joint venture will be responsible for promoting Galexxy's proprietary natural plant health products online, in-store, and wholesale, and will also be responsible for the installation of thousands of smart vending kiosks in high-traffic consumer locations in the US.
Galexxy LLC's distributors will have an impressive suite of proprietary new functional mushroom products to sell, backed by a revolutionary new payment, billing, and technology platform to drive adoption and sales. The significance of this partnership can't be overstated considering that Galexxy, LLC, will be integrating two firsts for the industry, which are:
1. A full line of uniquely formulated functional mushroom and adaptogen products powered by
2. A new technology stack software delivering 'real-time' payment information, compensation management, and reporting to scale and manage an ambassador's businesses 'real-time'.
So far, silent partners from the industry with over 30,000 distributors have already committed to this new company launch, and Wellbeing Farms expects to generate $7.5 million in revenues from its first full year of product supply to Galexxy LLC.
According to a new corporate update, VendGenie, a wholly owned subsidiary of Galexxy Holdings, Inc. (OTC:GXXY), revealed that it had expanded its strategic commercial supply and lease agreement as well as its marketing expansion program with Delta 88 and its associated company, uVending LLC. The agreement expands the original $9 million revenue forecast to over $12.75 million in annual revenue in year two. Furthermore, this agreement will add more than 100 new smart kiosk installations per month by year two, to exceed 600 kiosks by May 2025.
The most important thing to note, however, is that these are not your average vending machines, as they are much smarter. Their technology solution for age verification products provides 24×7 access to offer convenience for everyone thanks to a simple ID reader and camera-activated facial recognition that verifies the purchaser.
Delta 88's Phase 2 began in August 2023, with new installations servicing locations throughout Pennsylvania. The growth in the Texas market continues for the white-labeled VendGenie smart dispensing kiosk units, including the sale and supply of its proprietary D88 products, which are manufactured by VendGenie.
"With each VendGenie installation, our revenues accelerate monthly under Galexxy's agreement with Delta 88 to a $9 million annual revenue run rate by January 2025 and a $12.5 million run rate by May 2025, said Michael Biagi, Galexxy Holdings. "We are very enthused to be working with Delta 88, collaborating on the huge marketing potential of generating recurring product revenues through strategic placement of our VendGenie Smart Kiosks," said Michael Biagi.
For investors wondering how this translates to the bottom line, think of it this way: Galexxy Holdings, Inc. (OTC:GXXY) is currently trading at about $0.07 per share but is set to generate over $10 million in revenue over the next 12 months. When compared to other peers in the space, most of which aren't revenue-positive, it appears that the company has room to grow its valuation and deserves to be closely watched as the recently announced partnerships start playing out.
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