Galaxy Gaming, Inc. Annual report [Section 13 and 15(d), not S-K Item 405]

LEASES (Tables)

12 Months Ended

Dec. 31, 2024

Supplemental balance sheet information related to leases is as follows:


	Year Ended December 31,
	2024			2023
Operating leases:
Operating lease right-of-use lease assets	$	533,163		$	785,543

Operating lease current liabilities	$	286,019		$	268,541
Operating lease long-term liabilities		297,714			585,879
Total operating lease liabilities	$	583,733		$	854,420

Weighted-average remaining lease term in years:
Operating leases		1.98			3.12
Weighted-average discount rate:
Operating leases		4.6	%		5.4	%

The components of lease expense are as follows:


	Year Ended December 31,
	2024		2023
Operating lease cost (1)	$	290,836	$	291,045
(1) Classified as selling, general and administrative expense

Supplemental cash flow information related to leases is as follows:


	Year Ended December 31,
	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Principal and interest payments related to operating leases	$	299,595	$	290,877

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	—	$	26,302

At December 31, 2024, future maturities of our operating lease liabilities are as follows:


	Amount
Years ended December 31,
2025	$	306,055
2026		302,011
2027		2,985
Total minimum lease payments		611,051
Less: imputed interest		(27,318	)
Total operating lease liability		583,733
Less: current portion		(286,019	)
Long-term portion	$	297,714