Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT

v3.3.1.900
PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2015
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,
 
 
 
2015
 
2014
 
Buildings
 
$
3,305,715
 
$
4,720,507
 
Real estate development
 
 
939,551
 
 
1,238,461
 
Land
 
 
481,431
 
 
729,612
 
Furniture and fixtures
 
 
508,642
 
 
709,775
 
Vineyards
 
 
442,707
 
 
670,925
 
Machinery and equipment
 
 
562,551
 
 
827,205
 
Leasehold improvements
 
 
164,375
 
 
164,375
 
Computer hardware and software
 
 
82,043
 
 
97,506
 
 
 
 
6,487,015
 
 
9,158,366
 
 
 
 
 
 
 
 
 
Less: Accumulated depreciation and amortization
 
 
(2,032,046)
 
 
(2,489,862)
 
Property and equipment, net
 
$
4,454,969
 
$
6,668,504
 
 
Depreciation and amortization of property and equipment was $393,717 and $466,592 for the years ended December 31, 2015 and 2014, respectively, of which $224,580 and $279,082 was recorded as expense in the accompanying statement of operations, and $169,137 and $187,510 was capitalized to inventory, respectively. Most of our property and equipment is located in Argentina and the gross cost being depreciated declined year-over-year due to the devaluation of the Argentine peso relative to the United States dollar.