Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

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Balance Sheets - USD ($)
Jun. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 247,160 $ 560,184
Restricted cash 136,321 107,913
Accounts receivables, net allowance for bad debts of $40,000 and $34,887 1,486,678 1,472,743
Prepaid expenses 198,300 80,440
Inventories, net 195,034 232,789
Note receivable – related party, current portion 383,298 383,298
Deferred tax asset 47,691 47,691
Other current assets 70,740 62,584
Total current assets 2,765,222 2,947,642
Intangible assets, net 14,006,262 14,756,648
Goodwill 1,091,000 1,091,000
Deferred tax assets, net of current portion 159,640 143,614
Other assets, net 43,605 45,416
Total assets 18,546,092 19,492,083
Current liabilities:    
Accounts payable 806,035 518,428
Accrued expenses 530,867 519,166
Income taxes payable 129,612 22,872
Deferred revenue 682,711 647,625
Jackpot liabilities 139,824 111,360
Current portion of capital lease obligations 69,041 66,273
Current portion of long-term debt 3,850,472 3,480,864
Total current liabilities 6,208,562 5,366,588
Deferred rent 57,927 56,242
Capital lease obligations, net of current portion 101,972 137,204
Long-term debt, net of debt discount, net of current portion 10,143,467 12,056,467
Total liabilities $ 16,511,928 $ 17,616,501
Commitments and Contingencies (See Note 12)    
Stockholders’ equity    
Preferred stock, 10,000,000 shares, $.001 par value preferred stock authorized; 0 shares issued and outstanding    
Common stock, 65,000,000 shares authorized; $.001 par value 39,065,591 and 38,990,591 shares issued and outstanding $ 39,066 $ 38,991
Additional paid-in capital 2,899,355 2,844,488
Accumulated deficit (845,868) (980,300)
Accumulated other comprehensive income (loss) (58,389) (27,597)
Total stockholders’ equity 2,034,164 1,875,582
Total liabilities and stockholders’ equity 18,546,092 19,492,083
Property Plant and Equipment Excluding Assets Leased to Others    
Current assets:    
Property and equipment, net 364,049 382,098
Products Leased and Held for Lease, Net    
Current assets:    
Property and equipment, net $ 116,314 $ 125,665