Galaxy Gaming, Inc. Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

9 Months Ended

Sep. 30, 2019

Supplemental balance sheet information related to leases is as follows:

	As of September 30, 2019
	Amount			Classification
Operating leases:
Operating lease right-of-use lease assets	$	101,958

Operating lease current liabilities	$	83,953		Current portion of operating lease liabilities

Operating lease long-term liabilities		23,074		Long-term operating lease liabilities

Total operating lease liabilities	$	107,027

Weighted-average remaining lease term:
Operating leases	1.1 years

Weighted-average discount rate:
Operating leases		5.8	%

The components of lease expense are as follows:

	Three Months Ended September 30, 2019
	Amount		Classification
Finance lease cost:
Amortization of right-of-use assets	$	—	Depreciation and amortization
Interest on lease liabilities		—	Interest expense
Total finance lease cost	$	—

Operating lease cost	$	66,303	Selling, general and administrative expense

	Nine Months Ended September 30, 2019
	Amount		Classification
Finance lease cost:
Amortization of right-of-use assets	$	14,286	Depreciation and amortization
Interest on lease liabilities		195	Interest expense
Total finance lease cost	$	14,481

Operating lease cost	$	195,234	Selling, general and administrative expense

Supplemental cash flow information related to leases is as follows:

	Nine Months Ended September 30, 2019
	Amount		Classification
Cash paid for amounts included in the measure of lease liabilities:
Operating cash flows from finance leases	$	195	Net income
Financing cash flows from finance leases	$	14,198	Principal payments on finance lease obligations
Operating cash flows from operating leases	$	195,234	Net income

Right-of-use assets obtained in exchange for lease liabilities:
Finance leases	$	14,286	Supplemental cash flow information
Operating leases	$	290,877	Supplemental cash flow information

As of September 30, 2019, future maturities of our operating lease liabilities are as follows:

Twelve Months Ending September 30,	Amount
2020	$	83,524
2021		14,730
2022		8,773
Total lease liabilities	$	107,027