Table Trac Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Table Trac Inc. filed its Q1 2024 10-Q report on May 10, 2024.</b>

AI Summary

TABLE TRAC INC (TBTC) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. Table Trac Inc. reported financial results for the quarter ended March 31, 2024. The company's fiscal year ends on December 31st. The filing is a 10-Q, indicating a quarterly report. The filing was made on May 10, 2024. The company's principal business address is in Minnetonka, MN.

Why It Matters

For investors and stakeholders tracking TABLE TRAC INC, this filing contains several important signals. This filing provides investors with an update on the company's financial performance and position for the first quarter of 2024. Understanding the details within this 10-Q is crucial for assessing the company's operational health and future prospects.

Risk Assessment

Risk Level: low — TABLE TRAC INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain unusual or high-risk disclosures.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Table Trac Inc.'s Q1 2024 performance.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-10 — Filing Date (FILED AS OF DATE)
• 7990 — Standard Industrial Classification (SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION)
• NV — State of Incorporation (STATE OF INCORPORATION)

Key Players & Entities

• TABLE TRAC INC (company) — FILER
• NV (company) — STATE OF INCORPORATION
• MINNETONKA (company) — CITY
• 952-548-8877 (dollar_amount) — BUSINESS PHONE
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-10 (date) — FILED AS OF DATE

FAQ

Industry Context

Table Trac Inc. operates within the amusement and recreation services sector, specifically focusing on gaming technology and related services.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring regular disclosure of financial information.

What Investors Should Do

1. Analyze the revenue and net income figures for Q1 2024.
2. Examine any changes in assets, liabilities, and equity compared to previous periods.
3. Review the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section for insights into performance drivers.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-10: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, providing the first quarterly update of the year.

Key Financial Figures

• $250,000 — osit Insurance Corporation (FDIC) up to $250,000 . At times throughout the year, the Com

Filing Documents

• tbltrc20240331_10q.htm (10-Q) — 629KB
• ex_650071.htm (EX-31.1) — 12KB
• ex_650072.htm (EX-31.2) — 12KB
• ex_650073.htm (EX-32) — 6KB
• 0001437749-24-015971.txt (&nbsp;) — 4094KB
• tbtc-20240331.xsd (EX-101.SCH) — 35KB
• tbtc-20240331_cal.xml (EX-101.CAL) — 32KB
• tbtc-20240331_def.xml (EX-101.DEF) — 262KB
• tbtc-20240331_lab.xml (EX-101.LAB) — 253KB
• tbtc-20240331_pre.xml (EX-101.PRE) — 286KB
• tbltrc20240331_10q_htm.xml (XML) — 564KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 1

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 13

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 15

Controls and Procedures

Item 4. Controls and Procedures 15

OTHER INFORMATION

PART II. OTHER INFORMATION

Risk Factors

Item 1A. Risk Factors 16

Other Information

Item 5. Other Information

Exhibits

Item 6. Exhibits 16

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements TABLE TRAC, INC. CONTENTS Page CONDENSED FINANCIAL STATEMENTS (Unaudited) Condensed Balance Sheets 2 Condensed Statements of Operations 3 Condensed Statements of Stockholders' Equity 4 Condensed Statements of Cash Flows 5 Notes to Condensed Financial Statements 6 1 TABLE TRAC, INC. CONDENSED BALANCE SHEETS (Unaudited) March 31, December 31, 2024 2023 ASSETS CURRENT ASSETS Cash and cash equivalents $ 4,496,840 $ 3,489,771 Short-term investments 1,522,654 1,502,805 Accounts receivable, net 1,350,301 2,109,193 Inventory, net 2,836,837 2,904,158 Prepaid expenses 547,475 364,886 Net investment in sales type leases - current 65,280 64,310 TOTAL CURRENT ASSETS 10,819,387 10,435,123 LONG-TERM ASSETS Accounts receivable - long-term 681,480 891,351 Property and equipment, net 54,652 38,357 Net investment in sales type leases - long term 97,319 113,621 Software development cost 15,857 16,691 Operating lease right-of-use assets 215,421 243,171 TOTAL LONG-TERM ASSETS 1,064,729 1,303,191 TOTAL ASSETS $ 11,884,116 $ 11,738,314 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable and accrued expenses $ 361,648 $ 305,664 Customer deposits 849,630 785,805 Current portion of operating lease liabilities 116,842 114,294 Income tax payable 400,226 165,226 TOTAL CURRENT LIABILITIES 1,728,346 1,370,989 LONG-TERM LIABILITIES Operating lease liabilities 96,668 126,760 Deferred tax liability 169,000 341,000 TOTAL LIABILITIES 1,994,014 1,838,749 STOCKHOLDERS' EQUITY Common stock, $ 0.001 par value; 25,000,000 shares authorized: 4,756,734 shares issued; and 4,634,865 shares outstanding at March 31, 2024 and December 31, 2023. 4,635 4,635 Additional paid-in capital 2,371,706 2,346,483 Retained earnings 7,736,969 7,771,655 10,113,310 10,122,773 Treasury stock, 121,869 shares (at cost) at March 31, 2024 and December 31, 2023.

View Full Filing

View this 10-Q filing on SEC EDGAR