Quarterly report pursuant to sections 13 or 15(d)

OTHER INCOME (EXPENSES)

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OTHER INCOME (EXPENSES)
 6 Months Ended
Jun. 30, 2012
Notes to Financial Statements  
OTHER INCOME (EXPENSES)

 

Other income (expenses) consists of the following for the six months ended:

 

    June 30, 2012   June 30, 2011
Interest income   $ 10,581     $ 12,520  
Interest expense – PTG     (301,387 )     —  
Interest expense – debt discount     (104,316 )     —  
Interest expense – commercial bank     (39,411 )     (47,674 )
Gain on settlement     50,000       —  
Total other income (expenses)   $ (384,533 )   $ (35,154 )

 

Interest expense – PTG refers to the debt (two promissory notes) entered into through the acquisition of Prime Table Games in late 2011. See Note 8. Interest expense – debt discount refers to a present value calculation of the debt by the valuation company at a discount rate of 6.61% taking multiple factors into account such as a) our income metrics and repayment risks, b) bond market data, and c) credit analysis and metrics from S&P.