Quarterly report pursuant to sections 13 or 15(d)

Balance Sheets

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Balance Sheets (USD $)
Jun. 30, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 243,169 $ 398,424
Restricted cash 235,217 216,964
Accounts receivables, net allowance for bad debts of $41,165 and $44,223 1,049,730 1,026,768
Prepaid expenses 74,808 29,443
Inventory 322,381 217,772
Note receivable – related party, current portion 17,675 17,155
Deferred tax asset 138,667 341,823
Other current assets 46,856 42,375
Total current assets 2,128,503 2,290,724
Property and equipment, net 52,368 43,399
Products leased and held for lease, net 65,081 47,433
Intangible assets, net 17,755,964 18,550,416
Goodwill 1,091,000 1,091,000
Note receivable – related party, net of current portion 366,409 371,106
Deferred income taxes 114,646   
Other assets, net 9,056 10,868
Total assets 21,583,027 22,404,946
Current liabilities:    
Accounts payable 291,566 286,983
Accrued expenses 213,363 251,734
Deferred revenue 480,712 440,342
Jackpot liabilities 238,363 222,109
Notes payable, current portion 2,547,079 2,360,930
Total current liabilities 3,771,083 3,562,098
Notes payable, net of debt discount, net of current portion 16,430,243 18,250,864
Deferred income taxes 75,497   
Total liabilities 20,276,823 21,812,962
Stockholders’ equity    
Preferred stock, 10,000,000 shares, $.001 par value preferred stock authorized; 0 shares issued and outstanding      
Common stock, 65,000,000 shares authorized; $.001 par value 38,310,591 shares issued and outstanding 38,311 38,311
Additional paid-in capital 2,115,999 2,113,097
Stock warrants 401,827 401,827
Accumulated deficit (1,376,518) (1,565,505)
Accumulated other comprehensive income (loss) 126,585 (395,746)
Total stockholders’ equity 1,306,204 591,984
Total liabilities and stockholders’ equity $ 21,583,027 $ 22,404,946