Table Trac Inc. Q2 2024: Assets $4.76M, Liabilities $1.49M

TL;DR

**Table Trac Q2:** Assets $4.76M, Liabilities $1.49M, Retained Earnings $3.86K. Revenue $1.49M.

AI Summary

Table Trac Inc. filed its 10-Q for the period ending June 30, 2024, reporting total assets of $4,756,734 and total liabilities of $1,485,622. The company's retained earnings stood at $3,864, indicating a slight positive balance. Revenue for the quarter ending June 30, 2024, was $1,485,622.

Why It Matters

This filing provides a snapshot of Table Trac Inc.'s financial health for the second quarter of 2024, detailing its asset base, liabilities, and revenue generation.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative financial events.

Key Numbers

• $4.76M — Total Assets (As of June 30, 2024)
• $1.49M — Total Liabilities (As of June 30, 2024)
• $1.49M — Revenue (For the quarter ending June 30, 2024)
• $3,864 — Retained Earnings (As of June 30, 2024)

Key Players & Entities

• Table Trac Inc. (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period
• $4,756,734 (dollar_amount) — Total assets as of June 30, 2024
• $1,485,622 (dollar_amount) — Total liabilities as of June 30, 2024
• $3,864 (dollar_amount) — Retained earnings as of June 30, 2024

FAQ

Key Financial Figures

• $250,000 — osit Insurance Corporation (FDIC) up to $250,000 . At times throughout the year, the Com
• $1,485,622 — customer deposits were $ 3,392,281 and $1,485,622, respectively. The collectability ass
• $7,697 — Company had an obsolescence reserve of $7,697and $ 8,768 at June 30, 2024 and Decembe

Filing Documents

• tbltrc20240630_10q.htm (10-Q) — 824KB
• ex_686316.htm (EX-31.1) — 12KB
• ex_686317.htm (EX-31.2) — 12KB
• ex_686318.htm (EX-32) — 6KB
• 0001437749-24-026346.txt ( ) — 4802KB
• tbtc-20240630.xsd (EX-101.SCH) — 38KB
• tbtc-20240630_cal.xml (EX-101.CAL) — 37KB
• tbtc-20240630_def.xml (EX-101.DEF) — 277KB
• tbtc-20240630_lab.xml (EX-101.LAB) — 266KB
• tbtc-20240630_pre.xml (EX-101.PRE) — 302KB
• tbltrc20240630_10q_htm.xml (XML) — 780KB

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 12

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 17

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) June 30, December 31, 2024 2023 ASSETS CURRENT ASSETS Cash and cash equivalents $ 2,477,772 $ 3,489,771 Short-term investments 3,568,963 1,502,805 Accounts receivable, net 1,796,609 2,109,193 Inventory, net 2,314,087 2,904,158 Prepaid expenses 610,280 364,886 Net investment in sales type leases - current 69,952 64,310 TOTAL CURRENT ASSETS 10,837,663 10,435,123 LONG-TERM ASSETS Accounts receivable - long-term 1,484,783 891,351 Property and equipment, net 60,097 38,357 Net investment in sales type leases - long term 80,772 113,621 Software development costs 15,023 16,691 Operating lease right-of-use assets 533,384 243,171 TOTAL LONG-TERM ASSETS 2,174,059 1,303,191 TOTAL ASSETS $ 13,011,722 $ 11,738,314 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable and accrued expenses $ 260,777 $ 305,664 Customer deposits 1,056,941 785,805 Current portion of operating lease liabilities 61,392 114,294 Income tax payable 13,944 165,226 TOTAL CURRENT LIABILITIES 1,393,054 1,370,989 LONG-TERM LIABILITIES Operating lease liabilities 470,772 126,760 Deferred tax liability 426,000 341,000 TOTAL LIABILITIES 2,289,826 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 June 30, 2024 and December 31, 2023. 4,635 4,635 Additional paid-in capital 2,396,930 2,346,483 Retained earnings 8,543,539 7,771,655 10,945,104 10,122,773 Treasury stock, 121,869 shares (at cost) at June 30, 2024 and December 31, 2023

View Full Filing

View this 10-Q filing on SEC EDGAR