Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

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Balance Sheets - USD ($)
Sep. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 103,031 $ 560,184
Restricted cash 98,521 107,913
Accounts receivables, net allowance for bad debts of $40,000 and $34,887 1,628,543 1,472,743
Prepaid expenses 145,978 80,440
Inventories, net 271,645 232,789
Note receivable – related party, current portion   383,298
Deferred tax asset 47,691 47,691
Other current assets 270 62,584
Total current assets 2,295,679 2,947,642
Intangible assets, net 13,633,949 14,756,648
Goodwill 1,091,000 1,091,000
Deferred tax assets, net of current portion 96,564 143,614
Other assets, net 42,699 45,416
Total assets 17,626,988 19,492,083
Current liabilities:    
Accounts payable 1,014,800 518,428
Accrued expenses 541,659 519,166
Income taxes payable 222,671 22,872
Deferred revenue 712,852 647,625
Jackpot liabilities 105,064 111,360
Current portion of capital lease obligations 68,785 66,273
Current portion of long-term debt 4,003,899 3,480,864
Total current liabilities 6,669,730 5,366,588
Deferred rent 55,285 56,242
Capital lease obligations, net of current portion 85,506 137,204
Long-term debt, net of debt discount, net of current portion 8,524,495 12,056,467
Total liabilities $ 15,335,016 $ 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 2,917,264 2,844,488
Accumulated deficit (726,162) (980,300)
Accumulated other comprehensive income (loss) 61,804 (27,597)
Total stockholders’ equity 2,291,972 1,875,582
Total liabilities and stockholders’ equity 17,626,988 19,492,083
Property Plant and Equipment Excluding Assets Leased to Others    
Current assets:    
Property and equipment, net 332,882 382,098
Products Leased and Held for Lease, Net    
Current assets:    
Property and equipment, net $ 134,215 $ 125,665