Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets (Unaudited)

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Condensed Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 642,738 $ 570,623
Restricted cash 71,073 97,859
Accounts receivables, net allowance for bad debts of $31,000 and $30,944 1,754,598 1,828,669
Prepaid expenses 97,182 106,338
Inventories, net 504,267 411,700
Deferred tax asset   43,017
Other current assets 2,161 2,489
Total current assets 3,072,019 3,060,695
Intangible assets, net 12,517,011 13,261,636
Goodwill 1,091,000 1,091,000
Deferred tax assets, net of current portion   82,562
Other assets, net 41,793 41,793
Total assets 17,140,459 17,971,048
Current liabilities:    
Accounts payable 1,181,215 1,421,848
Accrued expenses 1,158,864 823,964
Income taxes payable 519,781 170,331
Deferred revenue 851,859 717,690
Jackpot liabilities 90,073 106,671
Deferred tax liability 75,358  
Capital lease obligations, current portion 39,270 59,196
Long-term debt, current portion 3,998,548 4,648,120
Deferred rent, current portion 10,568 6,197
Total current liabilities 7,925,536 7,954,017
Deferred rent, net of current portion 47,359 52,643
Capital lease obligations, net of current portion 62,701 78,008
Long-term debt, net of debt discount, net of current portion 5,676,863 7,436,171
Total liabilities 13,712,459 15,520,839
Commitments and Contingencies (See Note 11)
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 39,315,591 and 39,215,591 shares issued and outstanding 39,316 39,216
Additional paid-in capital 3,013,772 2,963,841
Accumulated deficit (35,552) (792,446)
Accumulated other comprehensive income 410,464 239,598
Total stockholders’ equity 3,428,000 2,450,209
Total liabilities and stockholders’ equity 17,140,459 17,971,048
Property Plant and Equipment Excluding Assets Leased to Others    
Current assets:    
Property and equipment, net 263,231 298,877
Products Leased and Held for Lease, Net    
Current assets:    
Property and equipment, net $ 155,405 $ 134,485