Quarterly report pursuant to sections 13 or 15(d)

OTHER INCOME (EXPENSES)

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OTHER INCOME (EXPENSES)
 9 Months Ended
Sep. 30, 2012
Notes to Financial Statements  
OTHER INCOME (EXPENSES)

 

Other income (expenses) consists of the following for the nine months ended:

 

    September 30, 2012   September 30, 2011
Interest income   $ 20,507     $ 18,696  
Interest expense – PTG     (447,412 )     —  
Interest expense – debt discount     (156,474 )     —  
Interest expense – commercial bank     (68,712 )     (69,515 )
Gain on settlement     50,000       —  
Total other income (expenses)   $ (602,091 )   $ (50,819 )

 

Interest expense – PTG refers to the debt (two promissory notes) entered into through the acquisition of Prime Table Games in late 2011. See Note 8. Interest expense – debt discount refers to a present value calculation of the Prime Table Games debt by the valuation company at a discount rate of 6.61% taking multiple factors into account such as a) our income metrics and repayment risks, b) bond market data, and c) credit analysis and metrics from S&P.