|UNITED STATES
			 SECURITIES AND EXCHANGE
				COMMISSIONWashington, DC 20549
			 Form 10-QSB
			 [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR
				15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
			 For the quarterly period ended March 31, 2003
			 OR
			 [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR
				15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
			 For the transition period from _____________to
				_____________
			 Commission File Number 0-28383
			 Table Trac, Inc.(Exact name of small business issuer as specified in its
				charter)
			 Nevada - - - - - - - - - - - - - - - - - - -
				- - - - -- - - - - - - - - - - - 88-0336568 (State or other
				jurisdiction of Incorporation or organization) -- - -(IRS Employer
				Identification No.)
			 4625 County Rd 101,  Suite 202 Minnetonka,
				 Minnesota 55345 (Address of principal executive offices)
			 (952) 548-8877(Registrant's telephone number,
				including area code)
			 Indicate by check mark whether the registrant (1)
				has filed all reports required to be filed by Section 13 or 15(d) of the
				Securities Exchange Act of 1934 during the preceding 12 months, (or for such
				shorter period that the registrant was required to file such reports) and (2)
				has been subject to such filing requirements for the past 90 days.
			 Yes X No--
			 3,619,034 Shares Of Common Stock were outstanding
				as of March 31, 2003
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Table Trac, Inc.

|I N D E X                                                                                        
|-------------------------------------------------------------------------------------------------
|PART I. FINANCIAL INFORMATION                                                                    
|Item 1. Financial Statements (Unaudited)                                                         
|Balance Sheets as of March 31, 2003 and December 31,
			 2002                                    
|Statements of Operations for the three months ended
			 March 31, 2003 and 2002                  
|Statements of Cash Flows for the three months ended
				March 31, 2003 and 2002                  
|Selected Notes to Financial Statements                                                           
|Item 2. Management's Discussion and Analysis of
			 Financial Condition and Results of Operations
|PART II. OTHER INFORMATION                                                                       
|Item 1. Legal Proceedings                                                                        
|Item 6. Exhibits and Reports on Form 8-K                                                         
|SIGNATURES                                                                                       

Part I. FINANCIAL INFORMATION

Item I. FINANCIAL STATEMENTS

Table Trac, Inc. (A Development Stage Company)
		Balance Sheet (Unaudited)

|                           |                      |                            |                                 | Mar 31, '03 | Dec 31, '02
|-------------------------- | -------------------- | -------------------------- | ------------------------------- | ----------- | -----------
|ASSETS                     |                      |                            |                                 |             |            
|                           | Current Assets       |                            |                                 |             |            
|                           |                      | Total Checking/Savings     |                                 | (-2811)     | 139        
|                           |                      | Certificates of deposit    |                                 | 5692        | 5637       
|                           |                      | Total Accounts Receivable  |                                 | 18,290      | 9,966      
|                           |                      | Total Other Current Assets |                                 | 678         | 1674       
|                           | Total Current Assets |                            |                                 | $21,849     | $17,416    
|                           | Total Fixed Assets   |                            |                                 | 0           | 0          
|                           | Total Other Assets   |                            |                                 | 18.762      | 19,103     
|TOTAL ASSETS               |                      |                            |                                 | $40,611     | $36,519    
|LIABILITIES & EQUITY       |                      |                            |                                 |             |            
|                           | Liabilities          |                            |                                 |             |            
|                           |                      | Current Liabilities        |                                 |             |            
|                           |                      |                            | Total Accounts Payable          | 8,758       | 5,655      
|                           |                      |                            | Total Other Current Liabilities | 9,018       | 7,625      
|                           |                      | Total Current Liabilities  |                                 | 17,776      | 13,398     
|                           | Total Liabilities    |                            |                                 | $17,776     | $13,398    
|                           | Equity               |                            |                                 |             |            
|                           |                      | Capital Stock              |                                 | 1,278,718   | 1,278,718  
|                           |                      | Preferred A Stock          |                                 | 3,320       | 3,320      
|                           |                      | Retained Earnings          |                                 | (1,258,917) | (1,038,347)
|                           |                      | Net Income                 |                                 | (-286)      | (220,570)  
|                           | Total Equity         |                            |                                 | $22,835     | $23,121    
|TOTAL LIABILITIES & EQUITY |                      |                            |                                 | $40,611     | $36,519    

Table Trac, Inc. (A Development Stage Company)
		Statements Of Operations (Unaudited)

|                                                 |                         | Three Months Ending
|------------------------------------------------ | ----------------------- | -------------------
|                                                 |                         | Jan - Mar '03      
|Ordinary Income/Expense                          |                         |                    
|                                                 | Total Income            | 43,307             
|                                                 | Total COGS              | 853                
|                                                 | Gross Profit            | $42,454            
|                                                 | Total Operating Expense | 42,796             
|Net Ordinary Income                              |                         | $(-342)            
|Other Income/Expense                             |                         |                    
|                                                 | Interest Income         | 58                 
|Net Income Before Taxes                          |                         | $(-286)            
|Income Taxes                                     |                         | -0-                
|Net Income (Loss)                                |                         | $(-286)            
|Income (Loss) per Share                          |                         | (0.0000)           
|Income/(Loss) Per Common Share Assuming Dilution |                         | (0.0000)           
|Weighted Average Outstanding Shares              |                         | 3,619,034          

Table Trac, Inc. (A Development Stage Company)
		Statements of Cash Flows (Unaudited)

|                                          |                                                                             |                         | Jan - Mar '03 | Jan - Mar '02
|----------------------------------------- | --------------------------------------------------------------------------- | ----------------------- | ------------- | -------------
|OPERATING ACTIVITIES                      |                                                                             |                         |               |              
|                                          | Net Income                                                                  |                         | (-286)        | (78,428)     
|                                          | Adjustments to reconcile Net Income to net cash
			 provided by operations: |                         |               |              
|                                          |                                                                             | Accounts Receivable     | (8,324)       | 835          
|                                          |                                                                             | Inventory               | (4)           | 353          
|                                          |                                                                             | Loans To Shareholders   | 1,000         | 595          
|                                          |                                                                             | Prepaid Expenses        | 0             | 280          
|                                          |                                                                             | Accounts Payable        | 3049          | 12           
|                                          |                                                                             | Payroll Liabilities     | 5421          | (264)        
|                                          |                                                                             | Payroll tax Liabilities | (4092)        | -0-          
|Net cash provided by Operating Activities |                                                                             |                         | $(3,236)      | $(76.617)    
|INVESTING ACTIVITIES                      |                                                                             |                         |               |              
|                                          | Other Assets:Patents:Amoritization expense of
			 Patent                    |                         | 341           | 341          
|Net cash provided by Investing Activities |                                                                             |                         | 341           | 341          
|                                          | Net cash increase for period                                                |                         | $(2,895)      | $(76,276)    
|                                          | Cash at beginning of period                                                 |                         | 5,720         | 160,037      
|Cash at end of period                     |                                                                             |                         | $2,825        | $83,761      



Table Trac, Inc. (A Development Stage Company)
		SELECTED NOTES TO FINANCIAL STATEMENTS March 31, 2003

Note 1. Condensed Financial Statements:

The condensed balance sheet as of March 31, 2003, the statement of
		operations for the periods ended March 31, 2003 and 2002, and the condensed
		statement of cash flows for the periods then ended have been prepared by the
		Company, without audit. In the opinion of management, all adjustments (which
		include only normal recurring adjustments) necessary to present fairly the
		financial position, results of operations and changes in cash flows at March
		31, 2003 and for all periods presented have been made.

Certain information and footnote disclosures normally included in
		financial statements prepared in accordance with generally accepted accounting
		principles have been condensed or omitted. It is suggested that these condensed
		financial statements be read in conjunction with the financial statements and
		notes thereto included in the Company's December 31, 2002 audited financial
		statements. The results of operations for the period ended March 31, 2003 are
		not necessarily indicative of the operating results for the full year.

Note 2. Revenue Recognition: Revenues are recorded at the time of
		shipment of products or performance of services. Monthly license fees are
		recorded over the lives of the respective contracts or as earned.

Note 3. Customer Concentration: Five major customers comprised 95% of
		the Company's revenues from installation and licensing fees from the
		installation of the Company's Table Trac(TM) system through March 2003.

ITEM 2: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
		RESULTS OF OPERATIONS

Business Overview:

Table Trac, Inc.'s patented real-time management system product
		automates and monitors the operations of casino table games (blackjack, craps,
		etc.) The Table Trac(TM) system (patent number 5,957,776) is available for an
		installation and monthly license fee from the Company. The system is operating
		in 5 midwest casinos. With the system developed, site tested and commercial
		viability established, the Company has turned its focus to sales and marketing.

Results of Operations:

Revenues in the quarter ended March 31 increased to $42,307 in 2003 from
		$30,224 in 2002. There were increased license and maintenance fees and
		increased programming fees in 2002 to account for the difference. All of the
		Company's revenues from installation and licensing fees from the installation
		of the Company's Table Trac(TM) system were from seven customers through March
		2003. Costs of sales in the quarter ended March 31 decreased in 2003 to $853
		from $1,258 in 2002 as a result of decresed hardware component sales in 2003.
		Operating expenses in the quarter ended March 31 substantially reduced in 2003,
		to $42,796 from $107,845. The major changes were decreased payroll and
		decreased employee benefit expenses in 2003 compared to 2002. The result was
		that there was a substantially reduced net loss of ($286) in the first quarter
		2003 compared to a net loss of $77,510 in the first quarter 2002. The net loss
		per share was $.0000 in the first quarter 2003 compared to a net loss per share
		of $.0217 in the first quarter 2002.

Liquidity and Capital Resources:

The Company feels that monies provided from current revenues will be
		sufficient to meet operating needs during the next three-month period. The
		Company will continue to look for additional installations, but there can be no
		assurances that the Company will be successful in its efforts.

Safe Harbor:

The Private Securities Litigation Reform Act of 1995 provides "safe
		harbor" for forward-looking statements. Certain information included in this
		Form 10-QSB and other materials filed or to be filed by the Company with the
		Securities and Exchange Commission (as well as information included in oral
		statements or other written statements made or to be made by the Company)
		contain statements that are forward-looking, such as statements relating to
		plans for sales and marketing, liquidity, and other business activities and
		developments. Such forward-looking information involves important risks and
		uncertainties that could significantly affect anticipated results in the future
		and, accordingly, such results may differ from those expressed in any
		forward-looking statements made by or on behalf of the Company. These risks and
		uncertainties include, but are not limited to, dependence on a limited number
		of customers, general economic conditions, or changes in federal or state laws
		or regulations.

PART II. OTHER INFORMATION

Item 1. Legal Proceedings

The Company is aware of no legal proceeding that is pending or
		threatened to which the Company is a party or of which its property is subject.

Item 6. Exhibits and Reports on Form 8-K (b) One report on Form 8-K was
		filed during the three months ended March 31, 2003.

SIGNATURE

In accordance with the requirements of the Exchange Act, the Registrant
		has duly caused this report to be signed on its behalf by the undersigned
		thereunto duly authorized.

Table Trac, Inc. Date April 24, 2003 By: /s/ Chad Hoehne President CEO

CERTIFICATION PURSUANT TO 18 U.S.C.ss.1350 In connection with the
		Quarterly Report of Table Trac, Inc. (the "Company") on Form 10-QSB for the
		period ended March 31, 2003 as filed with the Securities and Exchange
		Commission on the date hereof (the "Report"), the undersigned, in the
		capacities listed below, hereby certifies, pursuant to 18 U.S.C. ss.1350, as
		adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that: (i)
		The Report fully complies with the requirements of Section 13(a) or 15(d) of
		the Securities Exchange Act of 1934; and (ii) The information contained in the
		Report fairly presents, in all material respects, the financial condition and
		results of operations of the Company.

April 24, 2003By/s/ Chad HoehnePresident, CEO &
		Officer