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

Nine Months Ended September 30, 2023

Classification

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

Operating cash flows from operating leases

Net income

LEASES (Tables)

9 Months Ended

Sep. 30, 2023

Supplemental balance sheet information related to leases is as follows:


	As of September 30, 2023
	Amount			Classification
Operating leases:
Operating lease right-of-use lease assets	$	823,542

Operating lease current liabilities	$	255,146		Current portion of operating lease liabilities

Operating lease long-term liabilities		640,173		Long-term operating lease liabilities

Total operating lease liabilities	$	895,319

Weighted-average remaining lease term:
Operating leases		3.38

Weighted-average discount rate:
Operating leases		4.4	%

The components of lease expense are as follows:


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

	Nine Months Ended September 30, 2023
	Amount		Classification
Operating lease cost	$	216,213	Selling, general and administrative expense

Supplemental cash flow information related to leases is as follows:

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


	Amount
For the remaining three months ending December 31, 2023	$	74,634
Years ending December 31,
2024	$	288,892
2025		294,507
2026		302,011
2027		2,985
Total minimum lease payments		963,029
Less: imputed interest		(67,711	)
Total operating lease liability		895,319
Less: current portion		(255,146	)
Long-term portion	$	640,173