Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

v3.4.0.3
Condensed Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net income for the period $ 379,367 $ 62,859
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 43,662 41,293
Amortization expense 372,312 378,073
Amortization of debt discount 52,158 52,158
Deferred income tax provision 156,863 53,595
Share-based compensation 20,471 18,870
Changes in operating assets and liabilities:    
Decrease (increase) in restricted cash 51,044 (7,839)
Decrease in accounts receivable 76,900 13,125
Decrease (increase) in other current assets 2,489 (6,155)
(Increase) decrease in inventory (54,958) 3,487
Decrease (increase) in prepaid expenses 50,161 (6,171)
(Decrease) increase in accounts payable (111,065) 8,491
Increase in income taxes payable 134,792  
Increase (decrease) in accrued expenses 56,598 (56,799)
Increase in deferred revenue 96,293 3,279
(Decrease) increase in jackpot liabilities (22,470) 14,988
(Decrease) increase in deferred rent (457) 1,758
Net cash provided by operating activities 1,304,160 575,012
Cash flows from investing activities:    
Acquisition of property and equipment (11,314) (7,895)
Net cash used in investing activities (11,314) (7,895)
Cash flows from financing activities:    
Principal payments on capital leases (17,441) (16,085)
Principal payments on notes payable (766,081) (841,203)
Net cash used in financing activities (783,522) (857,288)
Effect of exchange rate changes on cash (1,962) (9,380)
Net increase (decrease) in cash and cash equivalents 507,362 (299,551)
Cash and cash equivalents – beginning of period 570,623 560,184
Cash and cash equivalents – end of period 1,077,985 260,633
Supplemental cash flow information:    
Cash paid for interest 185,718 279,939
Inventory transferred to leased assets 10,273  
Cash paid for income taxes 5,000  
Supplemental non-cash financing activities information:    
Effect of exchange rate on note payable in foreign currency $ 19,663 $ 288,601