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

LEASES (Tables)

3 Months Ended

Mar. 31, 2020

Supplemental balance sheet information related to leases is as follows:

	As of March 31, 2020
	Amount			Classification
Operating leases:
Operating lease right-of-use lease assets	$	237,559

Operating lease current liabilities	$	214,012		Current portion of operating lease liabilities

Operating lease long-term liabilities		23,972		Long-term operating lease liabilities

Total operating lease liabilities	$	237,984

Weighted-average remaining lease term:
Operating leases	1 year

Weighted-average discount rate:
Operating leases		5.7	%

The components of lease expense are as follows:

	Three Months Ended March 31, 2020
	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	$	71,712	Selling, general and administrative expense

Supplemental cash flow information related to leases is as follows:

	Three Months Ended March 31, 2020
	Amount		Classification
Cash paid for amounts included in the measure of lease liabilities:
Operating cash flows from finance leases		—	Net income
Financing cash flows from finance leases		—	Principal payments on finance lease obligations
Operating cash flows from operating leases	$	71,712	Net income

Right-of-use assets obtained in exchange for lease liabilities:
Finance leases		—	Supplemental cash flow information
Operating leases	$	560,047	Supplemental cash flow information

As of March 31, 2020, future maturities of our operating lease liabilities are as follows: