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

Three Months Ended March 31, 2023

Classification

Operating lease cost

Selling, general and administrative expense

LEASES (Tables)

3 Months Ended

Mar. 31, 2023

Supplemental balance sheet information related to leases is as follows:


	As of March 31, 2023
	Amount			Classification
Operating leases:
Operating lease right-of-use lease assets	$	943,691

Operating lease current liabilities	$	250,569		Current portion of operating lease liabilities

Operating lease long-term liabilities		767,619		Long-term operating lease liabilities

Total operating lease liabilities	$	1,018,188

Weighted-average remaining lease term:
Operating leases		3.70

Weighted-average discount rate:
Operating leases		4.4	%

The components of lease expense are as follows:

Supplemental cash flow information related to leases is as follows:


	Three Months Ended March 31, 2023
	Amount		Classification
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	72,081	Net income

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

As of March 31, 2023, future maturities of our operating lease liabilities are as follows:


	Amount
For the remaining nine months ending December 31, 2023	$	218,796
Years ending December 31,
2024	$	288,892
2025		294,507
2026		302,011
2027		2,985
Total minimum lease payments		1,107,191
Less: imputed interest		(89,003	)
Total operating lease liability		1,018,188
Less: current portion		(250,569	)
Long-term portion	$	767,619