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

LEASES (Tables)

9 Months Ended

Sep. 30, 2020

Supplemental balance sheet information related to leases is as follows:

	As of September 30, 2020
	Amount			Classification
Operating leases:
Operating lease right-of-use lease assets	$	1,482,534

Operating lease current liabilities	$	197,067		Current portion of operating lease liabilities

Operating lease long-term liabilities		1,266,215		Long-term operating lease liabilities

Total operating lease liabilities	$	1,463,282

Weighted-average remaining lease term:
Operating leases	5.9 years

Weighted-average discount rate:
Operating leases		4.3	%

The components of lease expense are as follows:

	Three Months Ended September 30, 2020
	Amount		Classification
Operating lease cost	$	71,716	Selling, general and administrative expense

	Nine Months Ended September 30, 2020
	Amount		Classification
Operating lease cost	$	215,142	Selling, general and administrative expense

Supplemental cash flow information related to leases is as follows:

	Nine Months Ended September 30, 2020
	Amount		Classification
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	215,142	Net income

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	1,383,052	Supplemental cash flow information

As of September 30, 2020, future maturities of our operating lease liabilities are as follows:

Twelve Months Ending September 30,	Amount
2021	$	197,067
2022		208,249
2023		215,373
2024		234,917
2025		255,707
Thereafter		351,969
Total lease liabilities	$	1,463,282