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

LEASES (Tables)

6 Months Ended

Jun. 30, 2022

Supplemental balance sheet information related to leases is as follows:


	As of June 30, 2022
	Amount			Classification
Operating leases:
Operating lease right-of-use lease assets	$	1,118,888

Operating lease current liabilities	$	237,915		Current portion of operating lease liabilities

Operating lease long-term liabilities		957,095		Long-term operating lease liabilities

Total operating lease liabilities	$	1,195,010

Weighted-average remaining lease term:
Operating leases		4.43

Weighted-average discount rate:
Operating leases		4.4	%

The components of lease expense are as follows:


	Three Months Ended June 30, 2022
	Amount		Classification
Operating lease cost	$	71,249	Selling, general and administrative expense

	Six Months Ended June 30, 2022
	Amount		Classification
Operating lease cost	$	142,154	Selling, general and administrative expense

Supplemental cash flow information related to leases is as follows:


	Six Months Ended June 30, 2022
	Amount		Classification
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	139,596	Net income

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	71,901	Supplemental cash flow information

As of June 30, 2022, future maturities of our operating lease liabilities are as follows:


	Amount
For the remaining six months ending December 31, 2022	$	141,707
Years ending December 31,
2023		290,877
2024		288,892
2025		294,507
2026		302,011
2027		2,985
Thereafter		—
Total minimum lease payments		1,320,979
Less: imputed interest		(125,969	)
Total operating lease liability		1,195,010
Less: current portion		(237,915	)
Long-term portion	$	957,095