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

Quarterly report pursuant to sections 13 or 15(d)

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

6 Months Ended

Jun. 30, 2012

Property and equipment, recorded at cost, consisted of the following as of:

	June 30, 2012			December 31, 2011
Computer equipment	$	43,845		$	43,845
Furniture and fixtures		62,976			62,976
Office equipment		10,320			10,320
Leasehold improvements		6,367			6,367
		123,508			123,508
Less: accumulated depreciation		(89,424	)		(80,871	)
	$	34,084		$	42,637

Depreciation expense was $8,553 and $8,873 for the six months ended June 30, 2012 and 2011, respectively.

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

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