Annual report pursuant to Section 13 and 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.3.1.900
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2015
Accounting Policies [Abstract]  
Plant and Equipment, Useful Life [Table Text Block]
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):
 
 
 
For The Years Ended
 
 
 
December 31,
 
 
 
2015
 
2014
 
Assets- Argentina
 
$
6,254,631
 
$
9,307,515
 
Assets- U.S.
 
 
1,402,864
 
 
1,521,309
 
Assets- Total
 
$
7,657,495
 
$
10,828,824
 
 
 
 
 
 
 
 
 
Liabilities- Argentina
 
$
2,222,456
 
$
2,809,734
 
Liabilities- U.S.
 
 
2,307,871
 
 
2,238,467
 
Liabilities- Total
 
$
4,530,327
 
$
5,048,201
 
Revenue from External Customers by Geographic Areas [Table Text Block]
 
 
For The Years Ended
 
 
 
December 31,
 
 
 
2015
 
2014
 
Revenues- Argentina
 
$
1,842,356
 
$
2,050,966
 
Revenues- U.S.
 
 
165,789
 
 
63,946
 
Revenues- Total
 
$
2,008,145
 
$
2,114,912
 
 
 
 
 
 
 
 
 
Net Loss- Argentina
 
$
2,434,321
 
$
2,574,787
 
Net Loss- U.S.
 
 
5,844,643
 
 
6,488,640
 
Net Loss- Total
 
$
8,278,964
 
$
9,063,427
 
Revenue Recognition, Multiple-deliverable Arrangements [Table Text Block]
The Company operates within a single operating segment, because all of its operations are in support of the Company’s branding strategy and its associated real estate development initiatives. However, the Company does track revenues associated with its different products and services, as follows:
 
 
 
For The Years Ended
 
 
 
December 31,
 
 
 
2015
 
2014
 
Hotel rooms and events
 
$
851,389
 
$
904,323
 
Restaurants
 
 
519,255
 
 
595,284
 
Winemaking
 
 
372,035
 
 
438,082
 
Agricultural
 
 
13,336
 
 
80,529
 
Broker-dealer
 
 
135,476
 
 
(18,606)
 
Golf, tennis and other
 
 
116,654
 
 
115,300
 
Total revenues
 
$
2,008,145
 
$
2,114,912
 
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,
 
 
 
2015
 
2014
 
 
 
 
 
 
 
Options
 
 
8,939,436
 
 
7,806,836
 
Warrants
 
 
1,382,186
 
 
1,069,674
 
Convertible instruments
 
 
-
 
 
297,805
 
Total potentially dilutive shares
 
 
10,321,622
 
 
9,174,315