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

LEASES (Tables)

9 Months Ended

Sep. 30, 2022

Supplemental balance sheet information related to leases is as follows:


	As of September 30, 2022
	Amount			Classification
Operating leases:
Operating lease right-of-use lease assets	$	1,061,140

Operating lease current liabilities	$	243,038		Current portion of operating lease liabilities

Operating lease long-term liabilities		895,318		Long-term operating lease liabilities

Total operating lease liabilities	$	1,138,356

Weighted-average remaining lease term:
Operating leases		4.19

Weighted-average discount rate:
Operating leases		4.4	%

The components of lease expense are as follows:


	Three Months Ended September 30, 2022
	Amount		Classification
Operating lease cost	$	72,071	Selling, general and administrative expense

	Nine Months Ended September 30, 2022
	Amount		Classification
Operating lease cost	$	214,225	Selling, general and administrative expense

Supplemental cash flow information related to leases is as follows:


	Nine Months Ended September 30, 2022
	Amount		Classification
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	209,222	Net income

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	71,901	Supplemental cash flow information

As of September 30, 2022, future maturities of our operating lease liabilities are as follows:


	Amount
For the remaining three months ending December 31, 2022	$	72,080
Years ending December 31,
2023		290,877
2024		288,892
2025		294,507
2026		302,011
2027		2,985
Total minimum lease payments		1,251,352
Less: imputed interest		(112,996	)
Total operating lease liability		1,138,356
Less: current portion		(243,038	)
Long-term portion	$	895,318