----

----

| Nevada                                                         |   | 88-0336568                              |
|----------------------------------------------------------------|--------|-----------------------------------------|
| (State or Other Jurisdiction of Incorporation or Organization) |   | (I.R.S. Employer Identification Number) |

| Large accelerated filer  ̈                                                        | Accelerated filer  ̈    |
|---------------------------------------------------------------------------------------|-----------------------------|
| Non-accelerated filer  ̈  (Do not check if a smaller reporting company) | Smaller reporting company x |

----

|                                                                                           |    | Page   |
|-----------------------------------------------------------------------------------------------------|--------------|--------|
| PART I. FINANCIAL INFORMATION                                                                       |         |   |
| Item 1. Financial Statements                                                                        |         | 2      |
|                                                                                                |         |   |
| Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations |         | 12     |
|                                                                                                |         |   |
| Item 3. Quantitative and Qualitative Disclosures About Market Risk                                  |         | 15     |
|                                                                                                |         |   |
| Item 4T. Controls and Procedures                                                                    |         | 15     |
|                                                                                                |         |   |
| PART II. OTHER INFORMATION                                                                          |         |   |
| Item 1. Legal Proceedings                                                                           |         | 17     |
|                                                                                                |         |   |
| Item 1A. Risk Factors                                                                               |         | 17     |
|                                                                                                |         |   |
| Item 2. Unregistered Sales of Equity Securities and Use of Proceeds                                 |         | 17     |
|                                                                                                |         |   |
| Item 3. Defaults Upon Senior Securities                                                             |         | 17     |
|                                                                                                |         |   |
| Item 4. Submission of Matters to a Vote of Security Holders                                         |         | 17     |
|                                                                                                |         |   |
| Item 5. Other Information                                                                           |         | 17     |
|                                                                                                |         |   |
| Item 6. Exhibits                                                                                    |         | 18     |
|                                                                                                |         |   |
| SIGNATURES                                                                                          |         | 18     |

----

|                               | Page   |
|-----------------------------------------|--------|
|                                    |   |
| CONDENSED FINANCIAL STATEMENTS          |   |
|                                    |   |
| Condensed Balance Sheets                | 3      |
|                                    |   |
| Condensed Statements of Operations      | 4      |
|                                    |   |
| Condensed Statements of Cash Flows      | 5      |
|                                    |   |
| Notes to Condensed Financial Statements | 6      |

----

|                                                                                                                                         |   | March 31, 2011 |      |   | December 31, 2010 |   |
|----------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------|-----------|--------|-------------------|--------|
| ASSETS                                                                                                                                       |   |           |      |   |              |   |
| CURRENT ASSETS                                                                                                                               |   |           |      |   |              |   |
| Cash                                                                                                                                         |   | $              | 1,156,903 |   |              | $      | 935,301 |   |
| Accounts receivable, net of allowance for doubtful accounts of $179,416 at March 31, 2011 and December 31, 2010                              |   |           | 1,441,492 |   |              |   | 1,699,201 |   |
| Inventory                                                                                                                                    |   |           | 281,684   |   |              |   | 151,254 |   |
| Prepaid expenses                                                                                                                             |   |           | 72,715    |   |              |   | 133,262 |   |
| Other current assets                                                                                                                         |   |           | 4,684     |   |              |   | 9,954 |   |
| Income taxes receivable                                                                                                                      |   |           | 8,947     |   |              |   | 260,618 |   |
| TOTAL CURRENT ASSETS                                                                                                                         |   |           | 2,966,425 |   |              |   | 3,189,590 |   |
|                                                                                                                                         |   |           |      |   |              |   |   |   |
| LONG-TERM ASSETS                                                                                                                             |   |           |      |   |              |   |   |   |
| Patent, net                                                                                                                                  |   |           | 8,120     |   |              |   | 8,461 |   |
| Property and equipment, net                                                                                                                  |   |           | 37,384    |   |              |   | 41,641 |   |
| System under rental program, net                                                                                                             |   |           | 57,986    |   |              |   | 61,214 |   |
| Other long term asset                                                                                                                        |   |           | 2,060     |   |              |   | 2,060 |   |
| Deferred tax asset                                                                                                                           |   |           | 11,000    |   |              |   | 18,000 |   |
| Long-term accounts receivable – financed contracts                                                                                     |   |           | 206,428   |   |              |   | 260,430 |   |
| TOTAL LONG-TERM ASSETS                                                                                                                       |   |           | 322,978   |   |              |   | 391,806 |   |
| TOTAL ASSETS                                                                                                                                 |   | $              | 3,289,403 |   |              | $      | 3,581,396 |   |
| LIABILITIES AND  STOCKHOLDERS’ EQUITY                                                                                        |   |           |      |   |              |   |   |   |
| CURRENT LIABILITIES                                                                                                                          |   |           |      |   |              |   |   |   |
| Accounts payable and accrued expenses                                                                                                        |   | $              | 119,462   |   |              | $      | 93,648 |   |
| Payroll liabilities                                                                                                                          |   |           | 26,700    |   |              |   | - |   |
| Deferred revenue                                                                                                                             |   |           | 122,725   |   |              |   | 25,000 |   |
| Deferred tax liability                                                                                                                       |   |           | 437,541   |   |              |   | 639,541 |   |
| TOTAL CURRENT LIABILITIES                                                                                                                    |   |           | 706,428   |   |              |   | 758,189 |   |
|                                                                                                                                         |   |           |      |   |              |   |   |   |
| STOCKHOLDERS' EQUITY                                                                                                                         |   |           |      |   |              |   |   |   |
| Common stock, 0.001 par value; 25,000,000 shares authorized: 4,586,305 shares issued and outstanding at March 31, 2011 and December 31, 2010 |   |           | 4,586     |   |              |   | 4,586 |   |
| Additional paid-in capital                                                                                                                   |   |           | 1,682,231 |   |              |   | 1,682,231 |   |
| Retained earnings                                                                                                                            |   |           | 897,580   |   |              |   | 1,137,812 |   |
|                                                                                                                                         |   |           | 2,584,397 |   |              |   | 2,824,629 |   |
| Treasury stock, 1,000 shares (at cost) at March 31, 2011 and December 31, 2010                                                               |   |           | (1,422    | )      |              |   | (1,422 | ) |
| TOTAL STOCKHOLDERS’ EQUITY                                                                                                             |   |           | 2,582,975 |   |              |   | 2,823,207 |   |
|                                                                                                                                         |   |           |      |   |              |   |   |   |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                   |   | $              | 3,289,403 |   |              | $      | 3,581,396 |   |

----

|                                        |   | Three Months EndedMarch 31, |      |
|---------------------------------------------|--------|-----------------------------|-----------|
|                                        |   | 2011                        |      |   | 2010 |   |
|                                        |   |                        |      |   |   |   |
| Revenues                                    |   | $                           | 321,351   |   |   | $ | 368,165 |   |
|                                        |   |                        |      |   |   |   |   |   |
| Cost of sales                               |   |                        | 95,352    |   |   |   | 78,137 |   |
|                                        |   |                        |      |   |   |   |   |   |
| Gross profit                                |   |                        | 225,999   |   |   |   | 290,028 |   |
| Operating Expenses:                         |   |                        |      |   |   |   |   |   |
| Selling, general and administrative         |   |                        | 630,271   |   |   |   | 430,580 |   |
| Loss from operations                        |   |                        | (404,272  | ) |   |   | (140,552 | ) |
| Interest income                             |   |                        | 23,040    |   |   |   | 22,132 |   |
|                                        |   |                        |      |   |   |   |   |   |
| Net loss before taxes                       |   |                        | (381,232  | ) |   |   | (118,420 | ) |
|                                        |   |                        |      |   |   |   |   |   |
| Income tax benefit                          |   |                        | (141,000  | ) |   |   | (45,000 | ) |
|                                        |   |                        |      |   |   |   |   |   |
| Net loss                                    |   | $                           | (240,232  | ) |   | $ | (73,420 | ) |
|                                        |   |                        |      |   |   |   |   |   |
| Basic loss per common share                 |   | $                           | (0.05     | ) |   | $ | (0.02 | ) |
|                                        |   |                        |      |   |   |   |   |   |
| Weighted-average basic shares outstanding   |   |                        | 4,586,305 |   |   |   | 4,162,234 |   |
|                                        |   |                        |      |   |   |   |   |   |
| Diluted loss per common share               |   | $                           | (0.05     | ) |   | $ | (0.02 | ) |
|                                        |   |                        |      |   |   |   |   |   |
| Weighted-average diluted shares outstanding |   |                        | 4,586,305 |   |   |   | 4,162,234 |   |

----

|                                                                            |   | Three Months EndedMarch 31, |      |
|---------------------------------------------------------------------------------|--------|-----------------------------|-----------|
|                                                                            |   | 2011                        |      |   | 2010 |   |
|                                                                            |   |                        |      |   |   |   |
| OPERATING ACTIVITIES                                                            |   |                        |      |   |   |   |
| Net loss                                                                        |   | $                           | (240,232  | ) |   | $ | (73,420 | ) |
| Adjustments to reconcile net loss to net cash provided by operating activities: |   |                        |      |   |   |   |   |   |
| Depreciation and amortization                                                   |   |                        | 7,826     |   |   |   | 4,417 |   |
| Reserve for other current asset                                                 |   |                        | 4,815     |   |   |   | - |   |
| Deferred income taxes                                                           |   |                        | (195,000  | ) |   |   | (155,000 | ) |
| Non-cash stock compensation expense                                             |   |                        | 23,625    |   |   |   | - |   |
| Non-cash stock issued for future services                                       |   |                        | 15,312    |   |   |   | - |   |
| Changes in operating assets and liabilities:                                    |   |                        |      |   |   |   |   |   |
| Accounts receivable                                                             |   |                        | 311,711   |   |   |   | 448,301 |   |
| Inventory                                                                       |   |                        | (130,430  | ) |   |   | (24,319 | ) |
| Prepaid expenses and other assets                                               |   |                        | 22,065    |   |   |   | (18,273 | ) |
| Accounts payable and accrued expenses                                           |   |                        | 52,514    |   |   |   | (59,031 | ) |
| Deferred revenue                                                                |   |                        | 97,725    |   |   |   | 90 |   |
| Income taxes receivable / payable                                               |   |                        | 251,671   |   |   |   | 103,928 |   |
| Net cash provided by operating activities                                       |   |                        | 221,602   |   |   |   | 226,693 |   |
|                                                                            |   |                        |      |   |   |   |   |   |
| INVESTING ACTIVITIES                                                            |   |                        |      |   |   |   |   |   |
| Purchase of domain name                                                         |   |                        | -         |   |   |   | (2,060 | ) |
| Purchase of property and equipment                                              |   |                        | -         |   |   |   | (2,528 | ) |
| Net cash used in investing activities                                           |   |                        | -         |   |   |   | (4,588 | ) |
|                                                                            |   |                        |      |   |   |   |   |   |
| NET INCREASE IN CASH                                                            |   |                        | 221,602   |   |   |   | 222,105 |   |
|                                                                            |   |                        |      |   |   |   |   |   |
| CASH                                                                            |   |                        |      |   |   |   |   |   |
| Beginning of period                                                             |   |                        | 935,301   |   |   |   | 1,320,946 |   |
| End of period                                                                   |   | $                           | 1,156,903 |   |   | $ | 1,543,051 |   |

----

| 1. | Nature of Business and Summary of Significant Accounting Policies – |
|----|--------------------------------------------------------------------------------|

----

----

|       |   |   | For the Three Months Ended March 31 |   |
|------------|--------|--------|------------------------------------------|--------|
|       |   |   | 2011                                     |   |   | 2010 |   |
|       |   |   | % Sales                                  |   |   | % AR |   |   | % Sales |   |   | % AR |   |
|       | A      |   |                                     |   | 16.6 | % |   |   | 23.7 | % |   |   | 24.8 | % |   |   | 7.6 | % |
|       | B      |   |                                     |   | 15.5 | % |   |   | 1.6 | % |   |   | 23.3 | % |   |   | 7.9 | % |
|       | C      |   |                                     |   | 11.5 | % |   |   | 14.3 | % |   |   | 13.3 | % |   |   | 43.4 | % |
|       | D      |   |                                     |   | 10.2 | % |   |   | 2.1 | % |   |   | - |   |   |   | - |   |
|       | E      |   |                                     |   | 9.5 | % |   |   | 11.1 | % |   |   | 10.1 | % |   |   | 4.6 | % |
|       | F      |   |                                     |   | 5.1 | % |   |   | 25.9 | % |   |   | - |   |   |   | - |   |
|       | G      |   |                                     |   | 4.2 | % |   |   | 0.9 | % |   |   | 18.8 | % |   |   | 3.5 | % |
|       | H      |   |                                     |   | 2.0 | % |   |   | 11.0 | % |   |   | - |   |   |   | - |   |
| All Others |   |   |                                     | 25.4   | % |   |   | 9.4 | % |   |   | 9.7 | % |   |   | 33.0 | % |
| Total      |   |   |                                     | 100.0  | % |   |   | 100.0 | % |   |   | 100.0 | % |   |   | 100.0 | % |

----

| 2. | Accounts Receivable – |
|----|-----------------------------|

|                                          |   |          |      |   |             |   |
|-----------------------------------------------|--------|---------------|-----------|--------|------------------|--------|
|                                          |   | March 31,2011 |      |   | December 31,2010 |   |
|                                          |   |          |      |   |             |   |
| Accounts receivable under normal 30 day terms |   | $             | 619,743   |   |             | $      | 554,963 |   |
| Financed contracts:                           |   |          |      |   |             |   |   |   |
| Short-term                                    |   |          | 499,449   |   |             |   | 481,289 |   |
| Current portion of long-term                  |   |          | 472,844   |   |             |   | 828,170 |   |
| Long-term, net of current portion             |   |          | 206,428   |   |             |   | 260,430 |   |
| Total accounts receivable                     |   |          | 1,798,464 |   |             |   | 2,124,852 |   |
| Unbilled accounts receivable                  |   |          | 28,872    |   |             |   | 14,195 |   |
| Less allowance for doubtful accounts          |   |          | (179,416  | )      |             |   | (179,416 | ) |
| Accounts receivable, net                      |   | $             | 1,647,920 |   |             | $      | 1,959,631 |   |

|                                               |   |           |    |   |              |   |
|----------------------------------------------------|--------|----------------|---------|--------|-------------------|--------|
|                                               |   | March 31, 2011 |    |   | December 31, 2010 |   |
| Accounts receivable allowance, beginning of period |   | $              | 179,416 |   |              | $      | 182,054 |   |
| Provision adjustment during period *               |   |           | -       |   |              |   | 3,247 |   |
| Write-off of bad debt                              |   |           | -       |   |              |   | (5,885 | ) |
| Accounts receivable allowance, end of period       |   | $              | 179,416 |   |              | $      | 179,416 |   |

| 3. | Inventory – |
|----|------------------------|

|            |   |          |    |   |             |   |
|-----------------|--------|---------------|---------|--------|------------------|--------|
|            |   | March 31,2011 |    |   | December 31,2010 |   |
| Work-in-process |   | $             | 105,962 |   |             | $      | - |   |
| Finished goods  |   |          | 175,722 |   |             |   | 151,254 |   |
| Total           |   | $             | 281,684 |   |             | $      | 151,254 |   |

----

| 4. | Stockholders’ Equity – |
|----|-----------------------------------------|

| 5. | Income Tax – |
|----|-------------------------|

| 6. | Loss Per Share – |
|----|------------------------|

----

|                                                 |   | Three Months EndedMarch 31, |      |
|------------------------------------------------------|--------|---------------------------------------|-----------|
|                                                 |   | 2011                                  |      |   | 2010 |   |
| Basic earnings per share calculation:                |   |                                  |      |   |   |   |
| Net loss to common stockholders                      |   | $                                     | (240,232  | ) |   | $ | (73,420 | ) |
| Weighted average number of common shares outstanding |   |                                  | 4,586,305 |   |   |   | 4,162,234 |   |
| Basic net loss per share                             |   | $                                     | (0.05     | ) |   | $ | (0.02 | ) |
|                                                 |   |                                  |      |   |   |   |   |   |
| Diluted earnings per share calculation:              |   |                                  |      |   |   |   |   |   |
| Net loss                                             |   | $                                     | (240,232  | ) |   | $ | (73,420 | ) |
| Weighted average number of common shares outstanding |   |                                  | 4,586,305 |   |   |   | 4,162,234 |   |
|                                                 |   |                                  |      |   |   |   |   |   |
| Common stock equivalents:                            |   |                                  |      |   |   |   |   |   |
| Stock options                                        |   |                                  | (1        | )   |   |   | (2 | ) |
| Weighted average diluted shares outstanding          |   |                                  | 4,586,305 |   |   |   | 4,162,234 |   |
| Diluted net loss per share                           |   | $                                     | (0.05     | ) |   | $ | (0.02 | ) |

----

|                         |   |                         |    |   |   |   |    |                  |   |   |   |   |
|------------------------------|--------|------------------------------|---------|--------|--------|--------|---------|-----------------------|--------|--------|--------|--------|
|                         |   | Three Months Ended March 31, |    |
|                         |   | 2011                         |    |   | 2010   |   |    | 2011                  |   |   | 2010   |   |
|                         |   |                         |    |   |   |   |    | (percent of revenues) |   |
| License and maintenance fees |   | $                            | 214,639 |   |   | $      | 227,275 |                  |   |   | 66.8   | %      |   |   | 61.7 | % |
| Other sales                  |   |                         | 106,712 |   |   |   | 140,890 |                  |   |   | 33.2   | %      |   |   | 38.3 | % |
| Total revenues               |   | $                            | 321,351 |   |   | $      | 368,165 |                  |   |   | 100.0  | %      |   |   | 100.0 | % |

----

|                          |   | Three Months Ended March 31, |    |
|-------------------------------|--------|------------------------------|---------|
|                          |   | 2011                         |    |   | 2010 |   |   | 2011 |   |   | 2010 |   |
|                          |   |                         |    |   |   |   |   | (percent of revenues) |   |
|                          |   |                         |    |   |   |   |   |   |   |   |   |   |
| License and maintenance fees* |   | $                            | 34,675  |   |   | $ | 43,525 |   |   |   | 10.8 | % |   |   | 11.8 | % |
| Other sales                   |   |                         | 60,677  |   |   |   | 34,612 |   |   |   | 18.9 | % |   |   | 9.4 | % |
| Total cost of sales           |   | $                            | 95,352  |   |   | $ | 78,137 |   |   |   | 29.7 | % |   |   | 21.2 | % |
|                          |   |                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross profit                  |   | $                            | 225,999 |   |   | $ | 290,028 |   |   |   | 70.3 | % |   |   | 78.8 | % |

----

----

|                              |   | For the Three Months Ended March 31, |      |
|-----------------------------------|--------|-------------------------------------------|-----------|
|                              |   | 2011                                      |      |   | 2010 |   |
|                              |   |
| Cash flows provided by (used in): |   |                                      |      |   |   |   |
| Operating activities              |   | $                                         | 221,602   |   |   | $ | 226,693 |   |
| Investing activities              |   |                                      | -         |   |   |   | (4,588 | ) |
| Financing activities              |   |                                      | -         |   |   |   | - |   |
| Net increase in cash              |   |                                      | 221,602   |   |   |   | 222,105 |   |
| Cash, beginning of period         |   |                                      | 935,301   |   |   |   | 1,320,946 |   |
| Cash, end of period               |   | $                                         | 1,156,903 |   |   | $ | 1,543,051 |   |

----

----

----

| Exhibit |    | Description                                                                                                                               |
|---------|--------------|-------------------------------------------------------------------------------------------------------------------------------------------|
|    |         |                                                                                                                                      |
| 31.1    |         | Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 ( filed herewith ).                                               |
|    |         |                                                                                                                                      |
| 31.2    |         | Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 ( filed herewith ).                                               |
|    |         |                                                                                                                                      |
| 32      |         | Certification pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 ( filed herewith ). |

| Dated: May 13, 2011 | Table Trac, Inc. |
|---------------------|------------------|
|                | (Registrant)     |
|                |             |
|                | By:              | /s/ Chad Hoehne |
|                |             | Chad Hoehne |
|                |             | President, Chief Executive Officer and Principal Financial Officer |

----