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

GOODWILL AND OTHER INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2023

NOTE 4. 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,
	2023			2022
Patents	$	13,507,799		$	13,507,997
Customer relationships		14,040,856			14,040,856
Trademarks		2,880,967			2,880,967
Intellectual property		2,000,000			2,000,000
Non-compete agreements		660,000			660,000
Software		1,251,412			968,362
Other intangible assets, gross		34,341,034			34,058,182
Less: accumulated amortization		(20,630,402	)		(20,152,071	)
Other intangible assets, net	$	13,710,632		$	13,906,111

For the three months ended March 31, 2023 and 2022, amortization expense related to other intangible assets was $478,331 and $653,330, respectively.