Annual report pursuant to Section 13 and 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v2.4.1.9
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2014
Accounting Policies [Abstract]  
Plant and Equipment, Useful Life [Table Text Block]
Property and Equipment
 
Investments in property and equipment are recorded at cost. These assets are depreciated using the straight-line method over their estimated useful lives as follows:
 
Buildings
10 - 30 years
Furniture and fixtures
3 - 10 years
Vineyards
7 - 20 years
Machinery and equipment
3 - 20 years
Leasehold improvements
3 - 5 years
Computer hardware and software
3 - 5 years
 
Long-lived Assets by Geographic Areas [Table Text Block]
The following summarizes key financial metrics associated with the Company’s foreign operations (these financial metrics are immaterial for the Company’s operations in the United Kingdom):
 
 
 
December 31,
 
 
 
2014
 
2013
 
Assets- Argentina
 
$
9,307,515
 
$
11,217,588
 
Assets- U.S.
 
 
1,521,309
 
 
1,269,126
 
Assets- Total
 
$
10,828,824
 
$
12,486,714
 
Liabilities- Argentina
 
$
2,809,734
 
$
2,511,955
 
Liabilities- U.S.
 
 
2,238,467
 
 
5,285,201
 
Liabilities- Total
 
$
5,048,201
 
$
7,797,156
 
Revenue from External Customers by Geographic Areas [Table Text Block]
 
 
For The Years Ended
 
 
 
December 31,
 
 
 
2014
 
2013
 
Revenues- Argentina
 
$
2,050,966
 
$
2,424,906
 
Revenues- U.S.
 
 
63,946
 
 
419,195
 
Revenues- Total
 
$
2,114,912
 
$
2,844,101
 
Net Loss- Argentina
 
$
2,574,787
 
$
2,247,178
 
Net Loss- U.S.
 
 
6,488,640
 
 
6,545,652
 
Net Loss- Total
 
$
9,063,427
 
$
8,792,830
 
Revenue Recognition, Multiple-deliverable Arrangements [Table Text Block]
However, the Company does track revenues associated with its different products and services, as follows:
 
 
 
For The Years Ended
 
 
 
December 31,
 
 
 
2014
 
2013
 
Hotel rooms and events
 
$
904,323
 
$
1,189,594
 
Restaurants
 
 
595,284
 
 
671,177
 
Winemaking
 
 
438,082
 
 
401,898
 
Agricultural
 
 
80,529
 
 
210,524
 
Broker-dealer
 
 
(18,606)
 
 
270,401
 
Golf, tennis and other
 
 
115,300
 
 
100,507
 
Total Revenues
 
$
2,114,912
 
$
2,844,101
 
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]
The following securities are excluded from the calculation of weighted average dilutive common shares because their inclusion would have been anti-dilutive:
 
 
 
December 31,
 
 
 
2014
 
2013
 
Options
 
 
7,806,836
 
 
7,136,236
 
Warrants
 
 
1,069,674
 
 
899,156
 
Convertible instruments
 
 
297,805
 
 
7,263,015
 
Total potentially dilutive shares
 
 
9,174,315
 
 
15,298,407