$GLXZ
Galaxy Gaming, Inc.

2018 Q2 Form 10-Q Financial Statement

#000156459018021520 Filed on August 14, 2018

View on sec.gov

Income Statement

Concept 2018 Q2
Revenue $4.536M
YoY Change 23.94%
Cost Of Revenue $36.63K
YoY Change -38.95%
Gross Profit $4.500M
YoY Change 24.99%
Gross Profit Margin 99.19%
Selling, General & Admin $2.597M
YoY Change 4.72%
% of Gross Profit 57.72%
Research & Development $249.8K
YoY Change 92.15%
% of Gross Profit 5.55%
Depreciation & Amortization $458.8K
YoY Change 4.27%
% of Gross Profit 10.2%
Operating Expenses $2.847M
YoY Change -6.66%
Operating Profit $1.003M
YoY Change 82.32%
Interest Expense $247.3K
YoY Change -138.64%
% of Operating Profit 24.66%
Other Income/Expense, Net -$1.756M
YoY Change 175.63%
Pretax Income -$753.0K
YoY Change 711.09%
Income Tax -$156.6K
% Of Pretax Income
Net Earnings -$596.4K
YoY Change 647.74%
Net Earnings / Revenue -13.15%
Basic Earnings Per Share -$0.01
Diluted Earnings Per Share -$0.01
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding 39.81M

Balance Sheet

Concept 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.710M
YoY Change 26.62%
Cash & Equivalents $3.708M
Short-Term Investments
Other Short-Term Assets $370.0K
YoY Change 15.63%
Inventory $560.0K
Prepaid Expenses
Receivables $2.630M
Other Receivables $190.0K
Total Short-Term Assets $7.460M
YoY Change 21.9%
LONG-TERM ASSETS
Property, Plant & Equipment $650.0K
YoY Change 8.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $250.0K
YoY Change -35.9%
Total Long-Term Assets $11.60M
YoY Change -12.05%
TOTAL ASSETS
Total Short-Term Assets $7.460M
Total Long-Term Assets $11.60M
Total Assets $19.06M
YoY Change -1.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $270.0K
YoY Change -47.06%
Accrued Expenses $820.0K
YoY Change -38.81%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $1.456M
YoY Change 23.85%
Total Short-Term Liabilities $3.890M
YoY Change -20.29%
LONG-TERM LIABILITIES
Long-Term Debt $9.337M
YoY Change 13.18%
Other Long-Term Liabilities $80.00K
YoY Change -93.75%
Total Long-Term Liabilities $9.337M
YoY Change -2.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.890M
Total Long-Term Liabilities $9.337M
Total Liabilities $13.30M
YoY Change -7.63%
SHAREHOLDERS EQUITY
Retained Earnings $1.406M
YoY Change
Common Stock $4.355M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.761M
YoY Change
Total Liabilities & Shareholders Equity $19.06M
YoY Change -1.28%

Cashflow Statement

Concept 2018 Q2
OPERATING ACTIVITIES
Net Income -$596.4K
YoY Change 647.74%
Depreciation, Depletion And Amortization $458.8K
YoY Change 4.27%
Cash From Operating Activities $690.0K
YoY Change 130.0%
INVESTING ACTIVITIES
Capital Expenditures -$30.00K
YoY Change 0.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$30.00K
YoY Change 0.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -300.0K
YoY Change -6.25%
NET CHANGE
Cash From Operating Activities 690.0K
Cash From Investing Activities -30.00K
Cash From Financing Activities -300.0K
Net Change In Cash 360.0K
YoY Change -820.0%
FREE CASH FLOW
Cash From Operating Activities $690.0K
Capital Expenditures -$30.00K
Free Cash Flow $720.0K
YoY Change 118.18%

Facts In Submission

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us-gaap Nature Of Operations
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<div> <p style="text-align:justify;margin-bottom:6pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">NOTE 1. NATURE OF OPERATIONS </p> <p style="text-align:justify;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;">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; refer to Galaxy Gaming, Inc., a Nevada corporation (&#8220;Galaxy Gaming&#8221;). </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Nature of operations.<font style="font-size:12pt;font-weight:normal;font-style:normal;">&#160;</font><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. </font><font style="font-weight:normal;font-style:normal;color:#000000;">Casinos use our proprietary products and services to enhance their gaming floor operations and improve their profitability, productivity and security, as well as to offer popular cutting-edge gaming entertainment content and technology to their players.&nbsp;&nbsp;We market our products and services to land-based, riverboat, cruise ship and internet gaming companies located in North America, the Caribbean, Central America, the British Isles, Europe and Africa and to cruise ships and internet gaming sites worldwide.</font></p></div>
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<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
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<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 statement presentations, </font><font style="color:#000000;font-weight:normal;font-style:normal;">including the addition of restricted cash to cash and cash equivalents on the consolidated statements of cash flows as a result of the adoption of ASU No. 2016-18,&#160;</font><font style="color:#000000;font-weight:normal;">Statement of Cash Flows (Topic 230): Restricted Cash</font><font style="font-weight:normal;font-style:normal;">.&nbsp;&nbsp;See below for further detail.</font></p></div>
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