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

GOODWILL AND OTHER INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2021

NOTE 7. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill. A goodwill balance of $1,091,000 was created as a result of a transaction completed in October 2011 with Prime Table Games, LLC (“PTG”).

Other intangible assets, net. Other intangible assets, net consisted of the following at:

	March 31,			December 31,
	2021			2020
Patents	$	13,507,997		$	13,507,997
Customer relationships		13,942,115			13,942,115
Trademarks		2,880,967			2,880,967
Non-compete agreements		660,000			660,000
Software		233,315			183,415
Other intangible assets, gross		31,224,394			31,174,494
Less: accumulated amortization		(15,736,769	)		(15,087,598	)
Other intangible assets, net	$	15,487,625		$	16,086,896

For the three months ended March 31, 2021 and 2020, amortization expense related to other intangible assets was $649,171 and $382,499, respectively.

Estimated future amortization expense is as follows: