2023 Q2 Form 10-K Financial Statement

#000149315223012603 Filed on April 17, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2022 Q4 2022
Revenue $711.0K $371.9K $1.644M
YoY Change 75.4% -78.06% -66.56%
Cost Of Revenue $668.6K $270.4K $1.476M
YoY Change 25.33% -51.86% 21.8%
Gross Profit $42.36K $101.4K $167.8K
YoY Change -133.06% -91.05% -95.47%
Gross Profit Margin 5.96% 27.27% 10.21%
Selling, General & Admin $1.924M $2.682M $8.699M
YoY Change -14.97% 57.74% 45.71%
% of Gross Profit 4541.65% 2643.99% 5185.82%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $104.3K $73.04K $251.9K
YoY Change 112.82% 74.03% 72.98%
% of Gross Profit 246.2% 72.02% 150.18%
Operating Expenses $2.028M $2.755M $15.95M
YoY Change -12.26% 58.13% 160.8%
Operating Profit -$1.986M -$2.653M -$15.78M
YoY Change -18.6% 335.61% 554.17%
Interest Expense $1.066M $43.50K $1.694M
YoY Change 59.49% -113.26% -544.47%
% of Operating Profit
Other Income/Expense, Net -$2.997M $75.00K -$6.042M
YoY Change 5.02% 0.0% -3817.94%
Pretax Income -$4.982M -$9.535M -$21.83M
YoY Change -5.87% 1006.01% 813.57%
Income Tax
% Of Pretax Income
Net Earnings -$4.982M -$9.535M -$21.83M
YoY Change -5.87% 1080.89% 895.81%
Net Earnings / Revenue -700.75% -2564.11% -1327.8%
Basic Earnings Per Share -$0.80 -$12.33
Diluted Earnings Per Share -$0.80 -$3.27 -$12.33
COMMON SHARES
Basic Shares Outstanding 5.522M shares 2.757M shares 1.765M shares
Diluted Shares Outstanding 6.237M shares 176.5K shares

Balance Sheet

Concept 2023 Q2 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $810.1K $300.2K $300.2K
YoY Change 218.09% -91.77% -91.77%
Cash & Equivalents $810.0K $300.2K
Short-Term Investments
Other Short-Term Assets $869.1K $1.021M $1.021M
YoY Change -23.59% 5.81% 5.81%
Inventory $1.961M $1.889M $1.889M
Prepaid Expenses
Receivables $1.134M $106.2K $1.222M
Other Receivables $729.8K $586.6K $586.6K
Total Short-Term Assets $5.504M $5.019M $5.019M
YoY Change 32.74% -37.12% -37.12%
LONG-TERM ASSETS
Property, Plant & Equipment $7.857M $7.621M $9.071M
YoY Change 4.43% 101.78% 66.61%
Goodwill
YoY Change
Intangibles $109.0K $69.79K
YoY Change 50.24%
Long-Term Investments $0.00 $0.00
YoY Change -100.0% -100.0%
Other Assets $1.322M $1.255M $1.255M
YoY Change 4.59% 45.86% 45.86%
Total Long-Term Assets $13.72M $13.67M $13.67M
YoY Change -34.25% -16.27% -16.27%
TOTAL ASSETS
Total Short-Term Assets $5.504M $5.019M $5.019M
Total Long-Term Assets $13.72M $13.67M $13.67M
Total Assets $19.22M $18.69M $18.69M
YoY Change -23.14% -23.12% -23.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $691.7K $917.3K $917.3K
YoY Change -21.32% 80.66% 80.66%
Accrued Expenses $1.258M $1.665M $1.868M
YoY Change 23.8% 72.45% 63.72%
Deferred Revenue $1.369M $1.374M
YoY Change 10.63% 92.53%
Short-Term Debt $3.372M $0.00 $0.00
YoY Change -32.55% -100.0% -100.0%
Long-Term Debt Due $252.0K $164.7K $164.7K
YoY Change 48.02% -26.28% -26.28%
Total Short-Term Liabilities $9.332M $4.424M $4.424M
YoY Change 8.27% -47.84% -47.84%
LONG-TERM LIABILITIES
Long-Term Debt $90.47K $91.67K $2.083M
YoY Change -2.18% -2.48% 2116.09%
Other Long-Term Liabilities $1.347M $1.394M $1.394M
YoY Change -12.67% -15.31% -15.31%
Total Long-Term Liabilities $90.47K $91.67K $3.478M
YoY Change -94.47% -94.73% 99.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.332M $4.424M $4.424M
Total Long-Term Liabilities $90.47K $91.67K $3.478M
Total Liabilities $10.85M $7.901M $7.901M
YoY Change 5.85% -22.7% -21.4%
SHAREHOLDERS EQUITY
Retained Earnings -$125.3M -$117.5M
YoY Change 21.38% 22.72%
Common Stock $68.09K $36.53K
YoY Change -58.96% -63.03%
Preferred Stock
YoY Change
Treasury Stock (at cost) $46.36K $46.36K
YoY Change 0.0% 0.0%
Treasury Stock Shares 281.0 shares
Shareholders Equity $8.365M $10.79M $10.79M
YoY Change
Total Liabilities & Shareholders Equity $19.22M $18.69M $18.69M
YoY Change -23.14% -23.12% -23.12%

Cashflow Statement

Concept 2023 Q2 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$4.982M -$9.535M -$21.83M
YoY Change -5.87% 1080.89% 895.81%
Depreciation, Depletion And Amortization $104.3K $73.04K $251.9K
YoY Change 112.82% 74.03% 72.98%
Cash From Operating Activities -$1.094M -$1.216M -$5.700M
YoY Change 66.91% 5.89% -16.3%
INVESTING ACTIVITIES
Capital Expenditures $438.8K $12.06K $1.928M
YoY Change -148.22% -100.92% -199.11%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$7.560K
YoY Change -100.0% -99.89%
Cash From Investing Activities -$438.8K -$12.06K -$1.971M
YoY Change -51.78% -99.75% -77.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -9.170K 1.406M $3.557M
YoY Change -101.89% -79.24% -81.23%
NET CHANGE
Cash From Operating Activities -1.094M -1.216M -$5.700M
Cash From Investing Activities -438.8K -12.06K -$1.971M
Cash From Financing Activities -9.170K 1.406M $3.557M
Net Change In Cash -1.542M 178.1K -$3.349M
YoY Change 42.63% -78.33% -205.0%
FREE CASH FLOW
Cash From Operating Activities -$1.094M -$1.216M -$5.700M
Capital Expenditures $438.8K $12.06K $1.928M
Free Cash Flow -$1.533M -$1.228M -$7.628M
YoY Change -701.72% -884.94% 56.81%

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CY2022 VINO Equity Issued To Satisfy Accrued Stock Based Compensation Expense
EquityIssuedToSatisfyAccruedStockBasedCompensationExpense
27821 usd
CY2022 VINO Equity Issued As Consideration For Intangible Assets
EquityIssuedAsConsiderationForIntangibleAssets
39600 usd
CY2022 VINO Equity Issued For Purchase Of Noncontrolling Interest
EquityIssuedForPurchaseOfNoncontrollingInterest
231789 usd
CY2022 VINO Equity Issued For Acquisition Of Gds
EquityIssuedForAcquisitionOfGds
2194653 usd
CY2022 VINO Warrants Issued And Debt Principal Exchanged Upon Modification Of Convertible Debt
WarrantsIssuedAndDebtPrincipalExchangedUponModificationOfConvertibleDebt
834323 usd
CY2022 VINO Common Stock And Warrants Issued Upon Exchange Of Debt And Accrued Interest
CommonStockAndWarrantsIssuedUponExchangeOfDebtAndAccruedInterest
7905560 usd
CY2021 VINO Common Stock And Warrants Issued Upon Exchange Of Debt And Accrued Interest
CommonStockAndWarrantsIssuedUponExchangeOfDebtAndAccruedInterest
1422068 usd
CY2022 VINO Common Stock And Restricted Stock Units In Ggh Issued Upon Exchange Of Ggi Options
CommonStockAndRestrictedStockUnitsInGghIssuedUponExchangeOfGgiOptions
1576648 usd
CY2021 VINO Common Stock Issued To Satisfy Accrued Stock Based Compensation
CommonStockIssuedToSatisfyAccruedStockBasedCompensation
39537 usd
CY2021 VINO Series B Preferred Stock Converted To Common Stock
SeriesBPreferredStockConvertedToCommonStock
9010824 usd
CY2021 VINO Reclassification Of Deferred Offering Cost To Additional Paid In Capital
ReclassificationOfDeferredOfferingCostToAdditionalPaidInCapital
67016 usd
CY2021 VINO Common Stock And Warrants Issued To Underwriter In Public Offering
CommonStockAndWarrantsIssuedToUnderwriterInPublicOffering
297963 usd
CY2021 VINO Common Stock Issued To Placement Agent As Commitment Fees
CommonStockIssuedToPlacementAgentAsCommitmentFees
500000 usd
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1861983 usd
CY2021 VINO Investor Deposits Applied To Sale Of Common Stock And Warrants
InvestorDepositsAppliedToSaleOfCommonStockAndWarrants
29950 usd
CY2021 VINO Real Estate Development Costs Transferred From Property And Equipment To Lots Inventory
RealEstateDevelopmentCostsTransferredFromPropertyAndEquipmentToLotsInventory
882894 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
300185 usd
CY2022Q4 VINO Working Capital
WorkingCapital
595120 usd
CY2022 us-gaap Profit Loss
ProfitLoss
-21825298 usd
CY2021 us-gaap Profit Loss
ProfitLoss
-2389018 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5700187 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6809980 usd
CY2021Q1 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
Company effected a reverse stock split wherein each 15 shares of common stock outstanding immediately prior to the effective date was combined and converted into one share of common stock
CY2022Q4 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
Company effected another reverse stock split wherein each 12 shares of common stock outstanding immediately prior to the effective date was combined and converted into one share of common stock
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_844_eus-gaap--UseOfEstimates_zO0spLWQw4S" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_86F_z5vfBhrTxTb6">Use of Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To prepare financial statements in conformity with accounting principles generally accepted in the United States of America, the Company must make estimates and assumptions. These estimates and assumptions affect the reported amounts in the financial statements, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The significant estimates and assumptions of the Company include the valuation of investments, equity and liability instruments, the value of right-of-use assets and related lease liabilities and reserves associated with the realizability of certain assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GAUCHO GROUP HOLDINGS, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2018Q2 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
28.880 pure
CY2022 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
478500 usd
CY2021 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-33128 usd
CY2021Q4 us-gaap Assets
Assets
24313732 usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 usd
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
88126 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
11989 usd
CY2021 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
39299 usd
CY2022Q4 us-gaap Liabilities
Liabilities
7901304 usd
CY2021Q4 us-gaap Liabilities
Liabilities
10221888 usd
CY2022Q4 VINO Mortgages Receivable Of Maturities Gross
MortgagesReceivableOfMaturitiesGross
4061798 usd
CY2022Q4 VINO Mortgages Receivable Of Maturities Allowances
MortgagesReceivableOfMaturitiesAllowances
196550 usd
CY2022Q4 VINO Mortgages Receivable Of Maturities
MortgagesReceivableOfMaturities
3865248 usd
CY2022 us-gaap Interest Income Other
InterestIncomeOther
142746 usd
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_840_eus-gaap--ConcentrationRiskCreditRisk_zNBvz01YuEv8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_868_zAjvvXIMYKZ2">Concentrations</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company maintains cash with major financial institutions. Cash held in US bank institutions is currently insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $<span id="xdx_907_eus-gaap--CashFDICInsuredAmount_iI_pp0p0_c20221231_zyOOiJNY5v8e" title="Cash, FDIC insured amount">250,000</span> at each institution. No similar insurance or guarantee exists for cash held in Argentina bank accounts. There were aggregate uninsured cash balances of $<span id="xdx_907_eus-gaap--CashUninsuredAmount_iI_pp0p0_c20221231_z6BD5q4Zpcck" title="Cash uninsured amount">115,338</span> and $<span id="xdx_907_eus-gaap--CashUninsuredAmount_iI_pp0p0_c20211231_zSertIXLbDih" title="Cash uninsured amount">2,618,172</span> at December 31, 2022 and 2021, respectively, of which $<span id="xdx_905_eus-gaap--CashFDICInsuredAmount_iI_pp0p0_c20221231__us-gaap--RelatedPartyTransactionAxis__custom--ArgentineBankMember_zTtFuo37SKwh" title="Cash, FDIC insured amount">115,338</span> and $<span id="xdx_90B_eus-gaap--CashFDICInsuredAmount_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionAxis__custom--ArgentineBankMember_zh9IzLNY0eR4" title="Cash, FDIC insured amount">477,486</span>, respectively, represents cash held in Argentine bank accounts.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2022Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
115338 usd
CY2021Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
2618172 usd
CY2022Q4 us-gaap Assets
Assets
18692985 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1643716 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4915240 usd
CY2022 us-gaap Profit Loss
ProfitLoss
-21825298 usd
CY2021 us-gaap Profit Loss
ProfitLoss
-2389018 usd
CY2022 VINO Impairment Of Investment Related Party
ImpairmentOfInvestmentRelatedParty
7000000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1643716 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4915240 usd
CY2022Q4 VINO Mortgages Receivable Of Maturities Of Principal After Year Five
MortgagesReceivableOfMaturitiesOfPrincipalAfterYearFive
1573511 usd
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2750283 shares
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
334627 shares
CY2022 us-gaap Advertising Expense
AdvertisingExpense
542110 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
439939 usd
CY2022 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_843_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_z8cFJcVrJHVf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_862_zGXIEJFYbczi">Reclassifications</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain prior year amounts have been reclassified on the Company’s accompanying financial statements as of and for the year ending December 31, 2022. The reclassifications were made to the prior period amounts to conform to the current period financial statement presentation and had no impact on the reported results of operations.</span></p>
CY2022Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Land
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLand
1528134 usd
CY2022Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Buildings
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBuildings
635302 usd
CY2022Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
2694 usd
CY2022Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
674 usd
CY2022Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Deferred Tax Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets
63282 usd
CY2022Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
313 usd
CY2022Q1 VINO Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accrued Tax Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccruedTaxPayable
8154 usd
CY2022Q1 VINO Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Related Party Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesRelatedPartyPayable
10686 usd
CY2022Q1 VINO Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Lease Deposit Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLeaseDepositPayable
6025 usd
CY2022Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
2204908 usd
CY2022Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.072 pure
CY2022 us-gaap Debt Instrument Interest Rate Terms
DebtInstrumentInterestRateTerms
terms generally range from eight to ten years
CY2022 VINO Allowance For Uncollectable Mortgages
AllowanceForUncollectableMortgages
196550 usd
CY2021 VINO Allowance For Uncollectable Mortgages
AllowanceForUncollectableMortgages
203995 usd
CY2022 VINO Schedule Of Mortgages Recceivable
ScheduleOfMortgagesRecceivable
<p id="xdx_890_ecustom--ScheduleOfMortgagesRecceivable_zj8zKvheDm2a" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following represents the maturities of mortgages receivable as of December 31, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BF_zuxdob0n7HDg" style="display: none">SCHEDULE OF MATURITIES OF MORTGAGES RECEIVABLE</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">For the years ended December 31,</td><td> </td> <td colspan="2" id="xdx_496_20221231_zg2fd7Kkjow9"> </td><td> </td></tr> <tr id="xdx_407_ecustom--MortgagesReceivableOfMaturitiesOfPrincipalNextTwelveMonths_iI_maMROMGzaGi_zrIpekqRnxsc" style="vertical-align: bottom; background-color: White"> <td style="width: 82%; text-align: center">2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">783,177</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_ecustom--MortgagesReceivableOfMaturitiesOfPrincipalInYearTwo_iI_maMROMGzaGi_zxLJa2mC5qal" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">381,532</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--MortgagesReceivableOfMaturitiesOfPrincipalInYearThree_iI_maMROMGzaGi_zoXrMJUTjxd7" style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">409,927</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--MortgagesReceivableOfMaturitiesOfPrincipalInYearFour_iI_maMROMGzaGi_zxIt7uhUnWq5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">440,436</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--MortgagesReceivableOfMaturitiesOfPrincipalInYearFive_iI_maMROMGzaGi_zuIPNrAU3I4l" style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">473,215</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--MortgagesReceivableOfMaturitiesOfPrincipalAfterYearFive_iI_maMROMGzaGi_zZeOniQkbh34" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,573,511</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--MortgagesReceivableOfMaturitiesGross_iTI_maMROMzyqD_mtMROMGzaGi_z8oM3Ipw2dPk" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1pt">Gross Receivable</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">4,061,798</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--MortgagesReceivableOfMaturitiesAllowances_iNI_di_msMROMzyqD_z5uFBeg1dW66" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-bottom: 1pt">Less: Allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(196,550</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_ecustom--MortgagesReceivableOfMaturities_iTI_mtMROMzyqD_z3vvN796Wvnb" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 2.5pt">Net Receivable</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,865,248</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
CY2022Q4 VINO Mortgages Receivable Of Maturities Of Principal Next Twelve Months
MortgagesReceivableOfMaturitiesOfPrincipalNextTwelveMonths
783177 usd
CY2022Q4 VINO Mortgages Receivable Of Maturities Of Principal In Year Two
MortgagesReceivableOfMaturitiesOfPrincipalInYearTwo
381532 usd
CY2022Q4 VINO Mortgages Receivable Of Maturities Of Principal In Year Three
MortgagesReceivableOfMaturitiesOfPrincipalInYearThree
409927 usd
CY2022Q4 VINO Mortgages Receivable Of Maturities Of Principal In Year Four
MortgagesReceivableOfMaturitiesOfPrincipalInYearFour
440436 usd
CY2022Q4 VINO Mortgages Receivable Of Maturities Of Principal In Year Five
MortgagesReceivableOfMaturitiesOfPrincipalInYearFive
473215 usd
CY2021 us-gaap Interest Income Other
InterestIncomeOther
26587 usd
CY2022Q4 us-gaap Agricultural Related Inventory Feed And Supplies
AgriculturalRelatedInventoryFeedAndSupplies
516096 usd
CY2021Q4 us-gaap Agricultural Related Inventory Feed And Supplies
AgriculturalRelatedInventoryFeedAndSupplies
597900 usd
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
797862 usd
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
410755 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
40735 usd
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
34522 usd
CY2022Q4 VINO Inventory Finished Goods Clothes And Accessories
InventoryFinishedGoodsClothesAndAccessories
534269 usd
CY2021Q4 VINO Inventory Finished Goods Clothes And Accessories
InventoryFinishedGoodsClothesAndAccessories
208759 usd
CY2021Q4 VINO Inventory Finished Goods Clothes And Accessories In Process
InventoryFinishedGoodsClothesAndAccessoriesInProcess
127154 usd
CY2021Q4 us-gaap Other Inventory
OtherInventory
111549 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
1888962 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
1490639 usd
CY2022Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
3926884 usd
CY2021Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
2869300 usd
CY2022Q4 us-gaap Real Estate Held For Development And Sale
RealEstateHeldForDevelopmentAndSale
541116 usd
CY2021Q4 us-gaap Real Estate Held For Development And Sale
RealEstateHeldForDevelopmentAndSale
210322 usd
CY2022Q4 us-gaap Land
Land
2194671 usd
CY2021Q4 us-gaap Land
Land
575233 usd
CY2022Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
425774 usd
CY2021Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
403560 usd
CY2022Q4 VINO Vineyards
Vineyards
219766 usd
CY2021Q4 VINO Vineyards
Vineyards
219766 usd
CY2022Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
737433 usd
CY2021Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
693761 usd
CY2022Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
1400663 usd
CY2021Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
449401 usd
CY2022Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
312459 usd
CY2021Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
245978 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9758766 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5667321 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2137509 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1890380 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7621257 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3776941 usd
CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
247129 usd
CY2021 us-gaap Depreciation And Amortization
DepreciationAndAmortization
145653 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4812 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
4973 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
4973 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
4973 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
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CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
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CY2021Q4 us-gaap Preferred Stock Shares Issued
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6600000 usd
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500000 usd
CY2022 us-gaap Legal Fees
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325355 usd
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1299135 shares
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579630 usd
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CY2022 VINO Stock Issued During Period Shares Restricted Stock Award Vested
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85.35
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P1Y4M24D
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33811 shares
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CY2022 VINO Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term2
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P1Y2M12D
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40612 shares
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P1Y2M12D
CY2022Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
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33811 shares
CY2021Q2 us-gaap Lessee Operating Lease Term Of Contract
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2028-05-01
CY2022Q4 us-gaap Lessee Operating Lease Remaining Lease Term
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P5Y3M18D
CY2021Q2 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
Lease payments begin at $26,758 per month and escalate 3% every year over the duration of the lease. The Company was granted rent abatements of 15% for the first year of the lease term, and 10% for the second and third year of the lease term
CY2021Q2 us-gaap Security Deposit
SecurityDeposit
56130 usd
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
331862 usd
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
221241 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
175316 usd
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
155484 usd
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1861983 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y3M18D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y3M18D
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.070 pure
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
303603 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
336102 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
357881 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
368617 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
365004 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
120463 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1851670 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
320487 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1531183 usd

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