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

Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)

6 Months Ended

Jun. 30, 2016

Schedule of Intellectual Property and Intangible Assets

Intellectual property and intangible assets consisted of the following at:

	June 30, 2016			December 31, 2015
Patents	$	13,615,967		$	13,615,967
Customer relationships		3,400,000			3,400,000
Trademarks		2,740,000			2,740,000
Non-compete agreements		660,000			660,000
Licensing agreements		35,000			35,000
		20,450,967			20,450,967
Less: accumulated amortization		(7,933,956	)		(7,189,331	)
Intangible assets, net	$	12,517,011		$	13,261,636

Finite Lived Intangible Assets Useful Lives

Material assets added over the past several years are as follows:

Client installation base		60 months
Licensing agreements		60 months
Patents		87 - 132 months
Trademarks		144 - 360 months
Client relationships		264 months

Prime Table Games

Finite Lived Intangible Assets Useful Lives

In October 2011, we acquired the following intangible assets related to the asset purchase with Prime Table Games LLC and Prime Table Games UK (collectively “Prime Table Games”):

	Fair Value
Patents	$	13,259,000
Customer relationships		3,400,000
Trademarks		2,740,000
Goodwill		1,091,000
Non-compete agreement		660,000
Total acquired intangible assets	$	21,150,000