$VINE
Fresh Vine Wine, Inc.

2023 Q3 Form 10-Q Financial Statement

#000121390023067212 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $848.0K $330.1K
YoY Change 58.32% -67.62%
Cost Of Revenue $889.8K $2.330M
YoY Change 47.93% 178.65%
Gross Profit -$41.89K -$2.000M
YoY Change -36.5% -1190.7%
Gross Profit Margin -4.94% -605.69%
Selling, General & Admin $1.141M $1.970M
YoY Change -52.45% -51.35%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $0.00
YoY Change -100.0%
% of Gross Profit
Operating Expenses $1.141M $1.970M
YoY Change -52.45% -51.35%
Operating Profit -$2.130M -$4.422M
YoY Change -17.19% -3.11%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $89.33K $120.0K
YoY Change 658.15% 2086.19%
Pretax Income -$2.130M -$4.422M
YoY Change -16.81% -3.0%
Income Tax
% Of Pretax Income
Net Earnings -$2.130M -$4.422M
YoY Change -16.81% -3.0%
Net Earnings / Revenue -251.15% -1339.58%
Basic Earnings Per Share -$0.13 -$0.27
Diluted Earnings Per Share -$0.13 -$0.27
COMMON SHARES
Basic Shares Outstanding 15.98M shares 15.88M shares
Diluted Shares Outstanding 15.98M shares 16.61M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $760.0K $476.7K
YoY Change -77.75% -90.88%
Cash & Equivalents $759.9K $476.7K
Short-Term Investments
Other Short-Term Assets $673.9K $1.192M
YoY Change 7.21% 50.4%
Inventory $742.4K $1.496M
Prepaid Expenses
Receivables $430.9K $133.3K
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.607M $3.298M
YoY Change -71.55% -73.17%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $521.7K
YoY Change -100.0% -37.5%
Total Long-Term Assets $0.00 $521.7K
YoY Change -100.0% -37.5%
TOTAL ASSETS
Total Short-Term Assets $2.607M $3.298M
Total Long-Term Assets $0.00 $521.7K
Total Assets $2.607M $3.820M
YoY Change -73.99% -70.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $554.7K $673.5K
YoY Change 14.21% 43.05%
Accrued Expenses $665.6K $566.2K
YoY Change 72.87% -6.52%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.532M $1.461M
YoY Change -18.58% -40.43%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.532M $1.461M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $1.532M $1.461M
YoY Change -18.58% -40.43%
SHAREHOLDERS EQUITY
Retained Earnings -$24.40M -$22.25M
YoY Change 102.94% 135.17%
Common Stock $15.98K $17.02K
YoY Change 25.48% 33.66%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.076M $2.359M
YoY Change
Total Liabilities & Shareholders Equity $2.607M $3.820M
YoY Change -73.99% -70.9%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$2.130M -$4.422M
YoY Change -16.81% -3.0%
Depreciation, Depletion And Amortization $0.00 $0.00
YoY Change -100.0%
Cash From Operating Activities -$366.8K -$2.127M
YoY Change -79.77% -63.98%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 750.0K 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -366.8K -2.127M
Cash From Investing Activities
Cash From Financing Activities 750.0K 0.000
Net Change In Cash 383.2K -2.127M
YoY Change -121.13% -64.08%
FREE CASH FLOW
Cash From Operating Activities -$366.8K -$2.127M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2023-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
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dei Document Transition Report
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dei Entity File Number
EntityFileNumber
001-41147
dei Entity Registrant Name
EntityRegistrantName
Fresh Vine Wine, Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
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dei Entity Address Address Line1
EntityAddressAddressLine1
11500 Wayzata Blvd.
dei Entity Address Address Line2
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dei Entity Address Postal Zip Code
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dei City Area Code
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dei Local Phone Number
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dei Security12b Title
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dei Trading Symbol
TradingSymbol
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dei Security Exchange Name
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i><span style="text-decoration:underline">Accounting Estimates</span></i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Management uses estimates and assumptions in preparing these financial statements in accordance with U.S. GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include contingent liabilities, allowance for doubtful accounts, inventory allowances, equity-based compensation for employees and non-employees, and the valuation of deferred tax assets.</p>
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CY2023Q1 us-gaap Temporary Equity Shares Subscribed But Unissued
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CY2023Q2 us-gaap Warrants And Rights Outstanding Term
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CY2023Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
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CY2023Q1 us-gaap Financial Instrument Subject To Mandatory Redemption Par Value Per Share
FinancialInstrumentSubjectToMandatoryRedemptionParValuePerShare
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us-gaap Stock Issued During Period Shares Purchase Of Assets
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CY2023Q2 us-gaap Shares Issued Price Per Share
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us-gaap Proceeds From Fees Received
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us-gaap Sale Leaseback Transaction Gross Proceeds Investing Activities
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vine Equity Based Compensation Expense
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CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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CY2023Q2 us-gaap Employee Stock Ownership Plan Esop Fair Value Of Shares Subject To Repurchase Obligation
EmployeeStockOwnershipPlanESOPFairValueOfSharesSubjectToRepurchaseObligation
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us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
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us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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vine Purchases Finished Goods
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vine Percentage Of Wholesale Revenue
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vine Percentage Of Wholesale Revenue
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CY2022Q2 vine Percentage Of Customers Accounted
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CY2021Q1 us-gaap Impairment Of Ongoing Project
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CY2021Q1 vine Initial Serive Term
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CY2023Q2 us-gaap Other Expenses
OtherExpenses
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us-gaap Other Expenses
OtherExpenses
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CY2022Q2 us-gaap Other Expenses
OtherExpenses
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us-gaap Other Expenses
OtherExpenses
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us-gaap Legal Fees
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us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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CY2023Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
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CY2023Q2 us-gaap Shares Issued
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us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
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CY2023Q2 us-gaap Preferred Stock Convertible Conversion Price
PreferredStockConvertibleConversionPrice
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CY2023Q2 us-gaap Debt Instrument Convertible Conversion Price1
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us-gaap Reinsurance Retention Policy Excess Retention Percentage
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
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us-gaap Accelerated Share Repurchases Initial Price Paid Per Share
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CY2023Q2 vine Stated Share Percentage
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us-gaap Preferred Stock Dividend Rate Percentage
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CY2023Q2 us-gaap Sale Of Stock Price Per Share
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CY2023Q2 vine Due From Employees Current01
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CY2023Q2 vine Insurance Recovery Receivable
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CY2023Q2 us-gaap Deferred Offering Costs
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CY2023Q2 vine Accrued Compensation
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CY2023Q2 us-gaap Accrued Salaries Current
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CY2023Q2 us-gaap Preferred Stock Value
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CY2022Q4 us-gaap Preferred Stock Value
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CY2023Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2023Q1 us-gaap Stock Issued During Period Value Employee Benefit Plan
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us-gaap Adjustment For Amortization
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us-gaap Inventory Write Down
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us-gaap Provision For Doubtful Accounts
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us-gaap Increase Decrease In Insurance Settlements Receivable
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us-gaap Increase Decrease In Accounts And Other Receivables
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vine Increase Decreasein Receivables With Recourse
increaseDecreaseinReceivablesWithRecourse
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us-gaap Increase Decrease In Other Receivables
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vine Increase Decreasein Accrued Expenses Settlement
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us-gaap Increase Decrease In Due To Other Related Parties
IncreaseDecreaseInDueToOtherRelatedParties
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us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
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us-gaap Proceeds From Repayments Of Secured Debt
ProceedsFromRepaymentsOfSecuredDebt
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us-gaap Proceeds From Issuance Initial Public Offering
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CY2023Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
shares
CY2022Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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CY2023Q2 vine Accrued Credit Card Charge
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dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001880343

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