Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

v3.7.0.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 82,508 $ 991,274
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 883,642 833,321
Amortization of debt issuance costs and debt discount 146,319 104,316
Bad debt expense 6,000  
Change in estimated fair value of warrant liability 323,409  
Share-based compensation 168,388 49,931
Changes in operating assets and liabilities:    
(Increase) decrease in restricted cash (8,693) 26,786
(Increase) decrease in accounts receivable (263,815) 74,071
Increase in inventory (174,485) (137,704)
(Increase) decrease in prepaid expenses and other current assets (38,346) 9,484
Increase (decrease) in accounts payable 43,130 (240,634)
(Decrease) increase in income tax payable (109,378) 516,257
Increase in accrued expenses 234,954 334,901
(Decrease) increase in deferred revenue (6,139) 134,169
Decrease in jackpot liabilities (12,835) (16,598)
Decrease in deferred rent (5,283) (913)
Net cash provided by operating activities 1,269,376 2,678,661
Cash flows from investing activities:    
Investment in intangible assets (43,917)  
Acquisition of property and equipment (31,023) (28,832)
Net cash used in investing activities (74,940) (28,832)
Cash flows from financing activities:    
Proceeds from stock option exercises 35,000  
Debt issuance costs (17,091)  
Principal payments on capital lease obligations (15,307) (35,233)
Principal payments on long-term debt (607,708) (2,513,096)
Net cash used in financing activities (605,106) (2,548,329)
Effect of exchange rate changes on cash 40,789 (29,385)
Net increase in cash and cash equivalents 630,119 72,115
Cash and cash equivalents – beginning of period 2,304,761 570,623
Cash and cash equivalents – end of period 2,934,880 642,738
Supplemental cash flow information:    
Cash paid for interest 739,862 530,660
Inventory transferred to assets held for lease 135,144 45,137
Cash paid for income taxes $ 75,000 $ 20,000