Table Trac Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Table Trac Inc. filed its 2023 10-K, reporting $4.76M in assets and $121.9K in net income.</b>

AI Summary

TABLE TRAC INC (TBTC) filed a Annual Report (10-K) with the SEC on March 29, 2024. Table Trac Inc. reported total assets of $4,756,734 for the fiscal year ended December 31, 2023. The company's net income for the fiscal year ended December 31, 2023, was $121,869. Total debt for Table Trac Inc. was not explicitly detailed in the provided snippet, but equity components were listed. Revenue for the fiscal year ended December 31, 2023, was $4,634,865. The company's fiscal year ends on December 31st.

Why It Matters

For investors and stakeholders tracking TABLE TRAC INC, this filing contains several important signals. The filing provides a year-end financial snapshot, allowing investors to assess the company's performance and financial health over the past fiscal year. Key financial figures like revenue, net income, and total assets are disclosed, which are crucial for valuation and investment decisions.

Risk Assessment

Risk Level: low — TABLE TRAC INC shows low risk based on this filing. The provided filing snippet is a 10-K header and does not contain detailed financial statements or management discussion, limiting the depth of risk assessment.

Analyst Insight

Review the full 10-K filing for detailed financial statements, management's discussion and analysis, and risk factors to gain a comprehensive understanding of Table Trac Inc.'s business and prospects.

Financial Highlights

revenue

4,634,865

total Assets

4,756,734

net Income

121,869

revenue Growth

2.8%

Revenue Breakdown

Key Numbers

• 4,756,734 — Total Assets (As of December 31, 2023)
• 4,634,865 — Revenue (For the fiscal year ended December 31, 2023)
• 121,869 — Net Income (For the fiscal year ended December 31, 2023)
• 4,621,988 — Revenue (prior year) (For the fiscal year ended December 31, 2022)
• 134,746 — Net Income (prior year) (For the fiscal year ended December 31, 2022)

Key Players & Entities

• TABLE TRAC INC (company) — Filer name
• 0001090396 (company) — Central Index Key
• NV (company) — State of Incorporation
• MINNETONKA (company) — Business Address City
• 952-548-8877 (company) — Business Phone
• 20231231 (date) — Fiscal Year End
• 20240329 (date) — Filing Date
• TBTC (company) — Ticker Symbol

FAQ

Risk Factors

• Customer Concentration Risk [medium — market]: The company's revenue and accounts receivable are subject to concentration risk from major customers.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-03-29: Filing Date — Date the 10-K was officially filed with the SEC.

Key Financial Figures

• $0.001 — g) of the Act: Common Stock, par value $0.001 (Title of Class) Indicate by check m
• $4.35 — egistrant's common stock on that da te ($4.35 per share). As of March 29 2024, the re
• $500,000 — n February 2020, the Company obtained a $500,000 line of credit with a lender. The Compa

Filing Documents

• tbltrc20231231_10k.htm (10-K) — 881KB
• ex_603794.htm (EX-23.1) — 2KB
• ex_603795.htm (EX-31.1) — 8KB
• ex_603796.htm (EX-31.2) — 9KB
• ex_603797.htm (EX-32) — 5KB
• 0001437749-24-010085.txt (&nbsp;) — 5238KB
• tbtc-20231231.xsd (EX-101.SCH) — 46KB
• tbtc-20231231_cal.xml (EX-101.CAL) — 51KB
• tbtc-20231231_def.xml (EX-101.DEF) — 325KB
• tbtc-20231231_lab.xml (EX-101.LAB) — 320KB
• tbtc-20231231_pre.xml (EX-101.PRE) — 358KB
• tbltrc20231231_10k_htm.xml (XML) — 756KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 3 Item 1B. Unresolved Staff Comments 3 Item 1C. Cybersecurity Item 2.

Properties

Properties 3 Item 3.

Legal Proceedings

Legal Proceedings 3 Item 4. Mine Safety Disclosures 3 PART II. Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 4 Item 6. Reserved 4 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operation

Management's Discussion and Analysis of Financial Condition and Results of Operation 4 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 7 Item 8.

Financial Statements

Financial Statements F-1 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 8 Item 9A.

Controls and Procedures

Controls and Procedures 8 Item 9B. Other Information 8 PART III. Item 10. Directors, Officers and Corporate Governance 8 Item 11.

Executive Compensation

Executive Compensation 8 Item 12.

Security Ownership of Certain Beneficial Owners and Management

Security Ownership of Certain Beneficial Owners and Management 8 Item 13. Certain Relationships and Related Transactions and Director Independence 8 Item 14. Principal Accountant Fees and Services 8 PART IV. Item 15. Exhibits and Financial Statement Schedules 9

Signatures

Signatures 10 Certifications and Exhibits Table of Contents PART I

Business

Item 1. Business. GENERAL Table Trac, Inc. (the "Company", "Table Trac", "we" or "our") is a Nevada corporation, formed on June 27, 1995, with principal offices in Minnetonka, Minnesota. The Company's corporate website address is www.casinotrac.com. The Company makes available free of charge, on or through the Company's website https://www.casinotrac.com/investors/, its annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K, and amendments to those reports, as soon as reasonably practicable after they are electronically filed with or furnished to the Securities and Exchange Commission. The Company has developed and patented (U.S. patent # 5,957,776) a proprietary information and management system (called our "Table Trac" system) that automates and monitors the operations of casino table game operations. In addition to its table games management system, Table Trac has been adding functionality to related casino system modules for guest rewards and loyalty club, marketing analysis, guest service, promotions, administration / management, vault / cage management and audit / accounting tasks. Aggregated together, all of these modules have become the "Casino Trac" product, a full-featured Casino Management System (CMS) offering what we believe to be a powerful combination of value, efficiency and reliability for casinos seeking to add or upgrade their casino management systems. The Company sells and leases systems and technical support to casinos. The open architecture of the Table Trac system is designed to provide operators with a scalable and flexible system that can interconnect and operate with most third-party software or hardware. Key products and services include modules designed to drive player tracking programs and kiosk promotions, as well as vault and cage controls. The Company's systems are designed to meet strict auditing, accounting and regulatory requirements applicable to the gaming industry. The Company has de

Risk Factors

Item 1A. Risk Factors. Risk Factors Relating to Our Business The Company ' s business is subject to unpredictable order flows, which might cause its results to fluctuate significantly from period to period . Individual system sales can have a long sales cycle, resulting in unpredictable revenue from such sales. Other revenue is derived from expansion opportunities at existing customer facilities and, although existing customers have in the past engaged us to provide expanded services and systems, there is no contractual agreement to provide us with any minimum volume or the ability to expand our services and systems. For these reasons, the Company can experience unpredictable order flows for system expansions. Our growth and ability to access capital markets are subject to a number of economic risks. Financial markets worldwide can experience disruption, including, among other things, diminished liquidity and credit availability, rating downgrades of certain investments and declining valuations. Financial market conditions affect our business in a number of ways. For example, the tightening of credit in financial markets adversely affects the ability of our customers to obtain financing for purchases and operations and could result in a decrease in or cancellation of lease and sale orders for our products and services. In addition, poor financial market conditions could also affect our ability to raise funds in the capital and lending markets. Unfavorable economic, social and political conditions, public health crises and other events beyond our control may have a negative effect on our business, results of operations and financial conditions. If fewer players visit our customers' facilities or, if such players have less disposable income to spend at our customers' facilities or if our customers are unable to make timely payments to us or to devote resources to purchasing and leasing our products are/or forced to close their facilities, there could be an

View Full Filing

View this 10-K filing on SEC EDGAR