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

LEASES (Tables)

6 Months Ended

Jun. 30, 2024

Supplemental balance sheet information related to leases is as follows:


	June 30, 2024			December 31, 2023
Operating leases:
Operating lease right-of-use lease assets	$	658,685		$	785,543

Operating lease current liabilities	$	277,297		$	268,541
Operating lease long-term liabilities		442,439			585,879
Total operating lease liabilities	$	719,736		$	854,420

Weighted-average remaining lease term in years:
Operating leases		2.47			3.12
Weighted-average discount rate:
Operating leases		4.4	%		5.4	%

The components of lease expense are as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Operating lease cost (1)	$	72,164	$	72,071	$	147,807	$	144,142
(1) Classified as selling, general and administrative expense

Supplemental cash flow information related to leases is as follows:


	Six Months Ended June 30,
	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Principal and interest payments related to operating leases	$	148,784	$	144,162

As of June 30, 2024, future maturities of our operating lease liabilities are as follows:


	Amount
Years ended December 31,
2024	$	150,811
2025		306,055
2026		302,011
2027		2,985
Total minimum lease payments		761,862
Less: imputed interest		(42,126	)
Total operating lease liability		719,736
Less: current portion		(277,297	)
Long-term portion	$	442,439