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

LEASES (Tables)

9 Months Ended

Sep. 30, 2021

Supplemental balance sheet information related to leases is as follows:

	As of September 30, 2021
	Amount			Classification
Operating leases:
Operating lease right-of-use lease assets	$	1,225,692

Operating lease current liabilities	$	222,968		Current portion of operating lease liabilities

Operating lease long-term liabilities		1,075,560		Long-term operating lease liabilities

Total operating lease liabilities	$	1,298,528

Weighted-average remaining lease term:
Operating leases	5.1 years

Weighted-average discount rate:
Operating leases		4.2	%

The components of lease expense are as follows:

	Three Months Ended September 30, 2021
	Amount		Classification
Operating lease cost	$	70,755	Selling, general and administrative expense

	Nine Months Ended September 30, 2021
	Amount		Classification
Operating lease cost	$	211,366	Selling, general and administrative expense

Supplemental cash flow information related to leases is as follows:

	Nine Months Ended September 30, 2021
	Amount		Classification
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	183,301	Net income

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	28,604	Supplemental cash flow information

As of September 30, 2021, future maturities of our operating lease liabilities are as follows:

Twelve Months Ending September 30,	Amount
2022	$	222,968
2023		229,705
2024		238,179
2025		255,707
2026		277,812
Thereafter		74,157
Total lease liabilities	$	1,298,528