Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT

v2.4.1.9
PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2014
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]
6.
PROPERTY AND EQUIPMENT
 
Property and equipment consist of the following:
 
 
 
December 31,
 
 
 
2014
 
2013
 
Buildings
 
$
4,720,507
 
$
5,974,403
 
Real estate development
 
 
1,238,461
 
 
1,459,772
 
Land
 
 
729,612
 
 
957,999
 
Furniture and fixtures
 
 
709,775
 
 
890,364
 
Vineyards
 
 
670,925
 
 
854,544
 
Machinery and equipment
 
 
827,205
 
 
725,351
 
Leasehold improvements
 
 
164,375
 
 
164,375
 
Computer hardware and software
 
 
97,506
 
 
87,418
 
 
 
 
9,158,366
 
 
11,114,226
 
Less: Accumulated depreciation and amortization
 
 
(2,489,862)
 
 
(2,590,680)
 
Property and equipment, net
 
$
6,668,504
 
$
8,523,546
 
 
Depreciation and amortization expense was $466,592 and $708,730 for the years ended December 31, 2014 and 2013, respectively, of which $187,510 and $175,100 was recorded within cost of sales in the accompanying statements of operations. Most of our property and equipment is located in Argentina and gross cost being depreciated declined year-over-year due to the devaluation of the Argentine peso relative to the United States
dollar.