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

LEASES (Tables)

9 Months Ended

Sep. 30, 2024

Supplemental balance sheet information related to leases is as follows:


	September 30, 2024			December 31, 2023
Operating leases:
Operating lease right-of-use lease assets	$	596,305		$	785,543

Operating lease current liabilities	$	281,588		$	268,541
Operating lease long-term liabilities		371,854			585,879
Total operating lease liabilities	$	653,442		$	854,420

Weighted-average remaining lease term in years:
Operating leases		2.23			3.12
Weighted-average discount rate:
Operating leases		4.4	%		5.4	%

The components of lease expense are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Operating lease cost (1)	$	71,515	$	72,071	$	219,322	$	216,213
(1) Classified as selling, general and administrative expense

Supplemental cash flow information related to leases is as follows:


	Nine Months Ended September 30,
	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Principal and interest payments related to operating leases	$	222,862	$	216,243

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


	Amount
Years ended December 31,
2024	$	76,733
2025		306,055
2026		302,011
2027		2,985
Total minimum lease payments		687,784
Less: imputed interest		(34,342	)
Total operating lease liability		653,442
Less: current portion		(281,588	)
Long-term portion	$	371,854