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

Six Months Ended June 30, 2023

Classification

Cash paid for amounts included in the
measurement of lease liabilities:

Operating cash flows from operating leases

Net income

LEASES (Tables)

6 Months Ended

Jun. 30, 2023

Supplemental balance sheet information related to leases is as follows:


	As of June 30, 2023
	Amount			Classification
Operating leases:
Operating lease right-of-use lease assets	$	883,958

Operating lease current liabilities	$	252,845		Current portion of operating lease liabilities

Operating lease long-term liabilities		704,250		Long-term operating lease liabilities

Total operating lease liabilities	$	957,095

Weighted-average remaining lease term:
Operating leases		3.62

Weighted-average discount rate:
Operating leases		4.4	%

The components of lease expense are as follows:


	Three Months Ended June 30, 2023
	Amount		Classification
Operating lease cost	$	72,071	Selling, general and administrative expense

	Six Months Ended June 30, 2023
	Amount		Classification
Operating lease cost	$	144,142	Selling, general and administrative expense

Supplemental cash flow information related to leases is as follows:

As of June 30, 2023, future maturities of our operating lease liabilities are as follows:


	Amount
For the remaining six months ending December 31, 2023	$	146,715
Years ending December 31,
2024	$	288,892
2025		294,507
2026		302,011
2027		2,985
Total minimum lease payments		1,035,110
Less: imputed interest		(78,015	)
Total operating lease liability		957,095
Less: current portion		(252,845	)
Long-term portion	$	704,250