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

Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

3 Months Ended

Mar. 31, 2015

Property Plant And Equipment [Abstract]

PROPERTY AND EQUIPMENT

NOTE 6. PROPERTY AND EQUIPMENT

Property and equipment, recorded at cost, consisted of the following at:

	March 31, 2015			December 31, 2014
Leasehold improvements	$	150,000		$	150,000
Furniture and fixtures		197,751			197,751
Computer equipment		87,719			84,186
Automotive Vehicles		86,364			86,364
Office equipment		21,763			17,403
		543,597			535,704
Less: accumulated depreciation		(183,748	)		(153,606	)
Property and equipment, net	$	359,849		$	382,098

Included in depreciation expense was $30,142 and $5,707 related to property and equipment for the three months ended March 31, 2015 and 2014, respectively.

Property and equipment includes $243,970 of leasehold improvements, furniture and fixtures under capital leases as of March 31, 2015. Accumulated depreciation of assets under capital leases totaled $58,657 as of March 31, 2015.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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