Annual report pursuant to Section 13 and 15(d)

Deferred Revenues

Deferred Revenues
12 Months Ended
Dec. 31, 2016
Deferred Revenue Disclosure [Abstract]  
Deferred Revenues



Deferred revenues are comprised of the following:


    December 31,  
    2016     2015  
Real estate lot sales deposits   $ 1,652,180     $ 1,175,990  
Other     232,426       208,327  
Total   $ 1,884,606     $ 1,384,317  


The Company accepts deposits in conjunction with agreements to sell real estate building lots at Algodon Wine Estates in the Mendoza wine region of Argentina. These lot sale deposits are generally denominated is US dollars. As of December 31, 2016 and 2015, the Company had executed agreements to sell real estate building lots for aggregate proceeds of $3,541,512 and $2,924,983, respectively. To date, twenty-one lots have been sold. The Company expects to close on the sale of these lots and record the deeds during 2017. To date, no deeds have been issued.