$GLXZ
Galaxy Gaming, Inc.

2015 Q2 Form 10-Q Financial Statement

#000156459015007404 Filed on August 14, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q4 2014 Q2
Revenue $2.683M $2.600M $2.463M
YoY Change 8.94% 16.07% 26.93%
Cost Of Revenue $23.99K $20.00K $17.62K
YoY Change 36.15% -33.33% -41.27%
Gross Profit $2.659M $2.580M $2.445M
YoY Change 8.74% 16.74% 28.01%
Gross Profit Margin 99.11% 99.23% 99.28%
Selling, General & Admin $1.701M $1.750M $1.354M
YoY Change 25.61% 65.09% 36.75%
% of Gross Profit 63.96% 67.83% 55.37%
Research & Development $116.4K $130.0K $98.05K
YoY Change 18.76% 8.33% -29.96%
% of Gross Profit 4.38% 5.04% 4.01%
Depreciation & Amortization $43.02K $430.0K $28.45K
YoY Change 51.2% 2.38% -92.89%
% of Gross Profit 1.62% 16.67% 1.16%
Operating Expenses $1.817M $2.320M $1.452M
YoY Change 25.15% 45.91% -5.72%
Operating Profit $841.7K $260.0K $993.1K
YoY Change -15.25% -58.06% 168.4%
Interest Expense $270.9K -$250.0K $280.4K
YoY Change -3.42% 0.0% -212.18%
% of Operating Profit 32.18% -96.15% 28.24%
Other Income/Expense, Net -$265.5K -$274.6K
YoY Change -3.3%
Pretax Income $124.7K -$520.0K $233.2K
YoY Change -46.52% -240.54% 94.35%
Income Tax $53.15K -$190.0K $123.8K
% Of Pretax Income 42.61% 53.1%
Net Earnings $71.57K -$330.0K $109.4K
YoY Change -34.56% -182.5% 21.53%
Net Earnings / Revenue 2.67% -12.69% 4.44%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 -$8.556K $0.00
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding 39.07M 38.63M

Balance Sheet

Concept 2015 Q2 2014 Q4 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $250.0K $560.0K $430.0K
YoY Change -41.86% 27.27% 79.17%
Cash & Equivalents $250.0K $560.2K $434.6K
Short-Term Investments
Other Short-Term Assets $70.74K $62.58K $410.0K
YoY Change -82.75% 23.9% -16.33%
Inventory $200.0K $232.8K $310.0K
Prepaid Expenses $80.44K
Receivables $1.490M $1.473M $1.420M
Other Receivables $380.0K $390.0K $20.00K
Total Short-Term Assets $2.765M $2.948M $2.610M
YoY Change 5.95% 23.59% 22.54%
LONG-TERM ASSETS
Property, Plant & Equipment $480.0K $510.0K $380.0K
YoY Change 26.32% 292.31% 216.67%
Goodwill $1.091M $1.091M
YoY Change 0.0%
Intangibles $14.01M $14.76M
YoY Change -12.22%
Long-Term Investments
YoY Change
Other Assets $43.61K $45.42K $480.0K
YoY Change -90.92% 526.86% 300.0%
Total Long-Term Assets $15.78M $16.54M $18.39M
YoY Change -14.19% -12.2% -5.45%
TOTAL ASSETS
Total Short-Term Assets $2.765M $2.948M $2.610M
Total Long-Term Assets $15.78M $16.54M $18.39M
Total Assets $18.55M $19.49M $21.00M
YoY Change -11.69% -8.17% -2.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $806.0K $518.4K $340.0K
YoY Change 137.07% 114.44% 17.24%
Accrued Expenses $530.9K $519.2K $370.0K
YoY Change 43.48% 61.03% 76.19%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.850M $3.481M $3.350M
YoY Change 14.94% 18.8% 31.37%
Total Short-Term Liabilities $6.209M $5.367M $5.080M
YoY Change 22.22% 24.74% 34.75%
LONG-TERM LIABILITIES
Long-Term Debt $10.14M $12.06M $14.37M
YoY Change -29.41% -22.96% -12.54%
Other Long-Term Liabilities $60.00K $60.00K $50.00K
YoY Change 20.0%
Total Long-Term Liabilities $10.14M $12.06M $14.42M
YoY Change -29.66% -22.96% -12.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.209M $5.367M $5.080M
Total Long-Term Liabilities $10.14M $12.06M $14.42M
Total Liabilities $16.51M $17.62M $19.50M
YoY Change -15.32% -11.69% -3.85%
SHAREHOLDERS EQUITY
Retained Earnings -$845.9K -$980.3K
YoY Change -2.18%
Common Stock $2.938M $2.883M
YoY Change 21.72%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.034M $1.876M $1.490M
YoY Change
Total Liabilities & Shareholders Equity $18.55M $19.49M $21.00M
YoY Change -11.69% -8.19% -2.69%

Cashflow Statement

Concept 2015 Q2 2014 Q4 2014 Q2
OPERATING ACTIVITIES
Net Income $71.57K -$330.0K $109.4K
YoY Change -34.56% -182.5% 21.53%
Depreciation, Depletion And Amortization $43.02K $430.0K $28.45K
YoY Change 51.2% 2.38% -92.89%
Cash From Operating Activities $980.0K $970.0K $760.0K
YoY Change 28.95% 11.49% 35.71%
INVESTING ACTIVITIES
Capital Expenditures -$30.00K -$40.00K -$30.00K
YoY Change 0.0% 50.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$30.00K -$40.00K -$30.00K
YoY Change 0.0% -25.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -970.0K -760.0K -650.0K
YoY Change 49.23% 22.58% 14.04%
NET CHANGE
Cash From Operating Activities 980.0K 970.0K 760.0K
Cash From Investing Activities -30.00K -40.00K -30.00K
Cash From Financing Activities -970.0K -760.0K -650.0K
Net Change In Cash -20.00K 170.0K 80.00K
YoY Change -125.0% -32.0% -260.0%
FREE CASH FLOW
Cash From Operating Activities $980.0K $970.0K $760.0K
Capital Expenditures -$30.00K -$40.00K -$30.00K
Free Cash Flow $1.010M $1.010M $790.0K
YoY Change 27.85% 16.09% 36.21%

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68599
CY2015Q2 us-gaap Accrued Vacation Current
AccruedVacationCurrent
68418
us-gaap Interest Paid
InterestPaid
563682
glxz Inventory Transferred To Leased Assets
InventoryTransferredToLeasedAssets
36550
glxz Effect Of Exchange Rate On Note Payable In Foreign Currency
EffectOfExchangeRateOnNotePayableInForeignCurrency
74935
glxz Assets Acquired By Capital Lease
AssetsAcquiredByCapitalLease
243970
us-gaap Nature Of Operations
NatureOfOperations
<div> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">NOTE 1. DESCRIPTION OF BUSINESS</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Unless the context indicates otherwise, references to &#8220;Galaxy Gaming,&#160;Inc.,&#8221; &#8220;we,&#8221; &#8220;us,&#8221; &#8220;our,&#8221; or the &#8220;Company,&#8221; refers to Galaxy Gaming, Inc., a Nevada corporation. &#8220;GGLLC&#8221; refers to Galaxy Gaming, LLC, a Nevada limited liability company that was a predecessor of the Company&#8217;s business, but is not directly associated with Galaxy Gaming, Inc.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Description of business.<font style="font-weight:normal;font-style:normal;"> We are an established global gaming company specializing in the design, development, manufacturing, marketing and acquisition of proprietary casino table games and associated technology, platforms and systems for the casino gaming industry. We are a leading supplier of gaming entertainment products worldwide and provide a diverse offering of quality products and services at competitive prices, designed to enhance the player experience.</font></p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Casinos use our proprietary products to enhance their gaming floor operations and improve their profitability, productivity and security, as well as offer popular cutting-edge gaming entertainment content and technology to their players. We market our products to land-based, riverboat and cruise ship and internet gaming companies. The game concepts and the intellectual property associated with these games are typically protected by patents, trademarks and/or copyrights. We market our products primarily via our internal sales force to casinos throughout North America, the Caribbean, the British Isles, Europe, Africa and to cruise ships and internet gaming sites worldwide. We currently have an installed base of our products on over 4,000 gaming tables located in over 500 casinos, which positions us as the second largest provider of proprietary table games in the world.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Revenues consist of primarily recurring royalties received from our clients for the licensing of our game content and other products. These recurring revenues generally have few direct costs thereby generating high gross profit margins. In lieu of reporting as <font style="font-style:italic;">gross profit</font>, this amount would be comparable to <font style="font-style:italic;">revenues less cost of ancillary products and assembled components</font> on our financial statements. Additionally, we receive non-recurring revenue from the sale of associated products.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We group our products into four product categories we classify as &#8220;Proprietary Table Games,&#8221; &#8220;Enhanced Table Systems,&#8221; &#8220;e-Tables&#8221; and &#8220;Ancillary Equipment.&#8221; Our product categories are summarized below. Additional information regarding our products may be found on our web site, www.galaxygaming.com. Information found on the web site should not be considered part of this report.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Proprietary Table Games.<font style="font-weight:normal;font-style:normal;"> We design, develop and deliver our Proprietary Table Games to enhance our casino clients&#8217; table game operations. Casinos use our Proprietary Table Games in lieu of those games in the public domain (e.g. Blackjack, Craps, Roulette, etc.) because of their popularity with players and to increase profitability. Our Proprietary Table Games are grouped into two product types we call &#8220;Side Bets&#8221; and &#8220;Premium Games.&#8221; Side Bets are proprietary features and wagering schemes typically added to public domain games such as poker, baccarat, pai gow poker, craps and blackjack table games. Examples of our side bets include such popular titles as </font><font style="font-weight:normal;">Lucky Ladies</font><font style="font-weight:normal;font-style:normal;">, </font><font style="font-weight:normal;">21+3</font><font style="font-weight:normal;font-style:normal;"> and </font><font style="font-weight:normal;">Bonus Craps</font><font style="font-weight:normal;font-style:normal;">. Premium Games are unique stand-alone games with their own unique set of rules and strategies. Examples of our Premium Games include such popular titles </font><font style="font-weight:normal;">as High Card Flush, World Poker Tour Heads Up Hold&#8217;em</font><font style="font-weight:normal;font-style:normal;">, </font><font style="font-weight:normal;">Three Card Poker, </font><font style="font-weight:normal;font-style:normal;">and </font><font style="font-weight:normal;">Texas Shootout</font><font style="font-weight:normal;font-style:normal;">. Generally, Premium Games command a higher price point per unit than Side Bets. </font></p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Enhanced Table Systems.<font style="font-weight:normal;font-style:normal;"> Enhanced Table Systems are electronic enhancements used on casino table games to add to player appeal and enhance game security. We include three products in this category: our </font><font style="font-weight:normal;">Bonus Jackpot System</font><font style="font-weight:normal;font-style:normal;">, our </font><font style="font-weight:normal;">Inter-Casino Jackpot System</font><font style="font-weight:normal;font-style:normal;"> and our </font><font style="font-weight:normal;">MEGA-Share</font><font style="font-weight:normal;font-style:normal;">. </font></p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Our <font style="font-style:italic;">Bonus Jackpot System</font> facilitates a jackpot players can win by making a qualified wager.&nbsp;&nbsp;The jackpot is awarded to a player (or players) upon obtaining a specific triggering event.&nbsp;&nbsp;Our <font style="font-style:italic;">Bonus Jackpot System</font> can facilitate either a fixed, adjustable or progressive style jackpot. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Our <font style="font-style:italic;">Inter-Casino Jackpot System</font> leverages the abilities of our <font style="font-style:italic;">Bonus Jackpot System</font> to connect and/or aggregate bonus or progressive jackpots from multiple casinos into a common network. We receive compensation by collecting a fixed fee or a transaction fee.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">MEGA-Share<font style="font-style:normal;"> is a game-play methodology invented by us that allows a player of one of our table games to share in the winnings of a jackpot together with other players. An example of this concept would be when multiple table game players are playing in a casino and one player obtains a winning hand entitling him or her to a jackpot.&nbsp;&nbsp;This jackpot winning event will trigger a second </font>MEGA-Share<font style="font-style:normal;"> jackpot that is divided among all players who made a </font>MEGA-Share <font style="font-style:normal;">qualified wager. </font></p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">e-Tables.<font style="font-weight:normal;font-style:normal;"> In 2011, we licensed the worldwide rights (excluding Oklahoma, Kentucky and the Caribbean), to the </font><font style="font-weight:normal;">TableMAX</font><font style="font-weight:normal;font-style:normal;"> e-Table system.&nbsp;&nbsp;Simultaneously we obtained the e-Table rights to the casino table games </font><font style="font-weight:normal;">Caribbean Stud</font><font style="font-weight:normal;font-style:normal;">, </font><font style="font-weight:normal;">Caribbean Draw</font><font style="font-weight:normal;font-style:normal;">, </font><font style="font-weight:normal;">Progressive Blackjack</font><font style="font-weight:normal;font-style:normal;">, </font><font style="font-weight:normal;">Texas Hold&#8217;em Bonus</font><font style="font-weight:normal;font-style:normal;"> and </font><font style="font-weight:normal;">Blackjack Bullets</font><font style="font-weight:normal;font-style:normal;">. See Note 17. The </font><font style="font-weight:normal;">TableMAX</font><font style="font-weight:normal;font-style:normal;"> e-Table system is a fully automated, dealer-less, multi-player electronic table game platform.&nbsp;&nbsp;These platforms allow us to offer our Proprietary Table Game content in markets where live table games are not permitted.&#160;Our e-Table product enables automation of certain components of traditional table games such as data collection, placement of bets, collection of losing bets and payment of winning bets.&#160;This automation provides benefits to both casino operators and players, including greater security and faster speed of play, reduced labor and other game related costs and increased profitability.&nbsp;&nbsp;</font></p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Ancillary products<font style="font-weight:normal;font-style:normal;">.&nbsp;&nbsp;In 2014, we entered into an exclusive license for the worldwide rights to a patented technology that detects invisible card markings.&nbsp;&nbsp;With this technology, we developed </font><font style="font-weight:normal;">SpectrumVision</font><font style="font-weight:normal;font-style:normal;">, which uses highly specialized and customized optics to see markings on playing cards that would otherwise be invisible or undetectable to the naked eye and surveillance cameras.&nbsp;&nbsp;</font><font style="font-weight:normal;">SpectrumVision </font><font style="font-weight:normal;font-style:normal;">will be leased for a monthly fee or outright sale.&nbsp;&nbsp;Units sold may have a service contract issued in conjunction with the sale..</font></p></div>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Concentration of risk.<font style="font-weight:normal;font-style:normal;"> We are exposed to risks associated with clients who represent a significant portion of total revenues. For the six months ended June 30, 2015 and 2014, we had the following client revenue concentrations:</font></p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p> <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:80%;"> <tr> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:54%; border-bottom:solid 0.75pt transparent;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%; border-bottom:solid 0.75pt transparent;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:16%; border-bottom:solid 0.75pt #000000;0pt #000000;0pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Location</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%; border-bottom:solid 0.75pt transparent;0pt #000000;0pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td colspan="2" valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:12%; border-bottom:solid 0.75pt #000000;0pt #000000;0pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">2015</p> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Revenue</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%; border-bottom:solid 0.75pt transparent;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%; border-bottom:solid 0.75pt transparent;0pt #000000;0pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td colspan="2" valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:12%; border-bottom:solid 0.75pt #000000;0pt #000000;0pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">2014</p> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Revenue</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%; border-bottom:solid 0.75pt transparent;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:54%;0pt #000000;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Client A</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:16%; border-top:solid 0.75pt #000000;0pt #000000;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">North America</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:10%; border-top:solid 0.75pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">15.1%</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:10%; border-top:solid 0.75pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">15.3%</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> </tr> <tr> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:54%;0pt #000000;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Client B</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:16%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">United Kingdom</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:10%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">6.7%</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:10%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8.3%</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:54%;0pt #000000;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Client C</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:16%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">North America</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:10%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.4%</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:10%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.9%</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> </tr> <tr> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:54%;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Client D</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:16%;0pt #000000;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">North America</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:10%;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.1%</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:10%;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.9%</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> </tr> </table></div> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We are also exposed to risks associated with the expiration of our patents. In 2015, domestic and international patents will expire on two of our products, which account for approximately $2,845,545 or 54% of our revenue for the six months ended June 30, 2015.</p></div>
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of estimates and assumptions.<font style="font-weight:normal;font-style:normal;"> We are required to make estimates, judgments and assumptions that we believe are reasonable based on our historical experience, contract terms, observance of known trends in our company and the industry as a whole, and information available from other outside sources. Our estimates affect reported amounts for assets, liabilities, revenues, expenses and related disclosures. Actual results may differ from initial estimates.</font></p></div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Reclassifications.<font style="font-weight:normal;font-style:normal;"> Certain accounts and financial statement captions in the prior periods have been reclassified to conform to the current period financial statements.</font></p></div>
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div> <p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Recently adopted accounting standards &#8211; not adopted</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We believe there is no additional new accounting guidance adopted, but not yet effective, which is relevant to the readers of our financial statements. However, there are numerous new proposals under development which, if and when enacted, may have a significant impact on its financial reporting.</p></div>
CY2014Q4 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
148902
CY2015Q2 us-gaap Interest Payable Current
InterestPayableCurrent
3645
CY2015Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
31633
CY2015Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
35000
CY2015Q2 glxz Capital Leased Assets Property And Equipment
CapitalLeasedAssetsPropertyAndEquipment
243970
CY2015Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment Excluding Capital Leased Assets
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentExcludingCapitalLeasedAssets
73631
CY2015Q2 us-gaap Property Subject To Or Available For Operating Lease Gross
PropertySubjectToOrAvailableForOperatingLeaseGross
244530
CY2014Q4 us-gaap Property Subject To Or Available For Operating Lease Gross
PropertySubjectToOrAvailableForOperatingLeaseGross
233496
CY2015Q2 us-gaap Property Subject To Or Available For Operating Lease Accumulated Depreciation
PropertySubjectToOrAvailableForOperatingLeaseAccumulatedDepreciation
128216
CY2014Q4 us-gaap Property Subject To Or Available For Operating Lease Accumulated Depreciation
PropertySubjectToOrAvailableForOperatingLeaseAccumulatedDepreciation
107831
CY2015Q2 us-gaap Property Subject To Or Available For Operating Lease Net
PropertySubjectToOrAvailableForOperatingLeaseNet
116314
CY2014Q4 us-gaap Property Subject To Or Available For Operating Lease Net
PropertySubjectToOrAvailableForOperatingLeaseNet
125665
us-gaap Operating Leases Income Statement Depreciation Expense On Property Subject To Or Held For Lease
OperatingLeasesIncomeStatementDepreciationExpenseOnPropertySubjectToOrHeldForLease
20385
us-gaap Operating Leases Income Statement Depreciation Expense On Property Subject To Or Held For Lease
OperatingLeasesIncomeStatementDepreciationExpenseOnPropertySubjectToOrHeldForLease
16008
CY2015Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
20450967
CY2014Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
20450967
CY2015Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
6444705
CY2014Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5694319
CY2015Q2 us-gaap Royalty Guarantees Commitments Amount
RoyaltyGuaranteesCommitmentsAmount
138570
CY2014Q4 us-gaap Royalty Guarantees Commitments Amount
RoyaltyGuaranteesCommitmentsAmount
59715
CY2015Q2 glxz Number Of Table Games Acquired
NumberOfTableGamesAcquired
4000
CY2015Q2 glxz Number Of Casinos In Which Acquired Table Games Played
NumberOfCasinosInWhichAcquiredTableGamesPlayed
500
CY2015Q2 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
150000
CY2015Q2 glxz Prepaid Compliance
PrepaidCompliance
62556
CY2015Q2 glxz Information Technology System
InformationTechnologySystem
39385
CY2014Q4 glxz Information Technology System
InformationTechnologySystem
9304
CY2015Q2 glxz Prepaid Travel
PrepaidTravel
25109
CY2014Q4 glxz Prepaid Travel
PrepaidTravel
8587
CY2015Q2 glxz Trade Show Expense
TradeShowExpense
22999
CY2014Q4 glxz Trade Show Expense
TradeShowExpense
7000
CY2015Q2 glxz Dues Subscriptions Expense
DuesSubscriptionsExpense
21474
CY2014Q4 glxz Dues Subscriptions Expense
DuesSubscriptionsExpense
14562
CY2015Q2 us-gaap Prepaid Insurance
PrepaidInsurance
18131
CY2014Q4 us-gaap Prepaid Insurance
PrepaidInsurance
16612
CY2015Q2 glxz Professional Services
ProfessionalServices
6287
CY2014Q4 glxz Professional Services
ProfessionalServices
21863
CY2015Q2 us-gaap Prepaid Rent
PrepaidRent
1989
CY2015Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
370
CY2015Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
101775
CY2015Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
74993
CY2014Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
96254
CY2014Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
69464
CY2015Q2 us-gaap Inventory Gross
InventoryGross
230034
CY2014Q4 glxz Accrued Salary And Payroll Tax Current
AccruedSalaryAndPayrollTaxCurrent
70262
CY2015Q2 glxz Table Max Reimbursement
TableMaxReimbursement
77346
CY2014Q4 glxz Table Max Reimbursement
TableMaxReimbursement
72636
CY2015Q2 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
51405
CY2015Q2 us-gaap Accrued Advertising Current
AccruedAdvertisingCurrent
89424
CY2014Q4 us-gaap Accrued Advertising Current
AccruedAdvertisingCurrent
41666
CY2014Q4 us-gaap Interest Payable Current
InterestPayableCurrent
3686
CY2015Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1827
CY2015Q2 us-gaap Capital Lease Obligations
CapitalLeaseObligations
171013
CY2014Q4 us-gaap Capital Lease Obligations
CapitalLeaseObligations
203477
CY2015Q2 us-gaap Capital Leases Future Minimum Payments Remainder Of Fiscal Year
CapitalLeasesFutureMinimumPaymentsRemainderOfFiscalYear
78237
CY2015Q2 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
43769
CY2015Q2 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
34545
CY2015Q2 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
31666
CY2015Q2 us-gaap Capital Leases Future Minimum Payments Interest Included In Payments
CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments
17204
CY2015Q2 us-gaap Notes Payable
NotesPayable
13993939
CY2014Q4 us-gaap Notes Payable
NotesPayable
15537331
CY2015Q2 us-gaap Notes Payable Current
NotesPayableCurrent
3850472
CY2014Q4 us-gaap Notes Payable Current
NotesPayableCurrent
3480864
us-gaap Debt Instrument Frequency Of Periodic Payment
DebtInstrumentFrequencyOfPeriodicPayment
monthly
CY2011Q4 glxz Acquired Notes Payable Promissory Notes
AcquiredNotesPayablePromissoryNotes
22200000
us-gaap Operating Leases Rent Expense Minimum Rentals
OperatingLeasesRentExpenseMinimumRentals
145448
us-gaap Operating Leases Rent Expense Minimum Rentals
OperatingLeasesRentExpenseMinimumRentals
127685
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
218304
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
227052
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
235788
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
244524
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
2802
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
928470
glxz Lease Agreement Effective Date
LeaseAgreementEffectiveDate
2010-09-01
us-gaap Lease Expiration Date1
LeaseExpirationDate1
2012-08-31
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.455
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.018
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
300000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
114583
us-gaap Business Combination Consideration Transferred Equity Interests Issued And Issuable
BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable
480000
us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
22680000
us-gaap Business Acquisition Equity Interests Issued Or Issuable Number Of Shares Issued
BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued
2000000
CY2015Q2 glxz Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Debt Discount
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDebtDiscount
1530000
CY2015Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
22680000
glxz Related Party Transaction Date Month And Year
RelatedPartyTransactionDateMonthAndYear
2015-08-10

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