Quarterly report pursuant to sections 13 or 15(d)

OTHER INCOME (EXPENSES)

v2.4.0.6
OTHER INCOME (EXPENSES)
 3 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
OTHER INCOME (EXPENSES)

 

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

 

    March 31, 2012   March 31, 2011
Interest income   $ 6,061     $ 6,288  
Interest expense - commercial     (22,346 )     (24,618 )
Interest expense - PTG     (152,243 )     0  
Interest expense - debt discount     (52,158 )     0  
Total other income (expenses)   $ (220,686 )   $ (18,330 )

 

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.