Summary of Significant Accounting Policies (Tables)
|
9 Months Ended |
12 Months Ended |
Sep. 30, 2020 |
Dec. 31, 2019 |
| Accounting Policies [Abstract] |
|
|
| Schedule of Plant and Equipment, Useful Life |
|
The estimated useful lives
of property and equipment are 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 |
|
| Schedule of Long-lived Assets by Geographic Areas |
|
The following summarizes
key financial metrics associated with the Company’s continuing operations (these financial metrics are immaterial for the
Company’s operations in the United Kingdom):
| |
|
As of |
|
| |
|
December 31, |
|
| |
|
2019 |
|
|
2018 |
|
| Assets - Argentina |
|
$ |
5,020,787 |
|
|
$ |
5,151,626 |
|
| Assets - U.S. |
|
|
899,573 |
|
|
|
495,865 |
|
| Total Assets |
|
$ |
5,920,360 |
|
|
$ |
5,647,491 |
|
| |
|
|
|
|
|
|
|
|
| Liabilities - Argentina |
|
$ |
2,373,203 |
|
|
$ |
4,440,345 |
|
| Liabilities - U.S. |
|
|
3,547,731 |
|
|
|
2,277,569 |
|
| Total Liabilities |
|
$ |
5,920,934 |
|
|
$ |
6,717,914 |
|
|
| Schedule of Revenue from External Customers by Geographic Areas |
|
| |
|
For the Years Ended |
|
| |
|
December 31, |
|
| |
|
2019 |
|
|
2018 |
|
| Revenues - Argentina |
|
$ |
1,272,772 |
|
|
$ |
3,099,608 |
|
| Revenues - U.S. |
|
|
11,665 |
|
|
|
- |
|
| Total Revenues |
|
$ |
1,284,437 |
|
|
$ |
3,099,608 |
|
| |
|
|
|
|
|
|
|
|
| Net loss - Argentina |
|
$ |
(1,559,766 |
) |
|
$ |
(499,101 |
) |
| Net loss - U.S. |
|
|
(5,397,049 |
) |
|
|
(5,179,317 |
) |
| Total Net Loss |
|
$ |
(6,956,815 |
) |
|
$ |
(5,678,418 |
) |
|
| Schedule of Revenue Recognized Multiple-Deliverable Arrangements |
The
following table summarizes the revenue recognized in the Company’s condensed consolidated statements of operations:
| |
|
For The Three Months Ended |
|
|
For The Nine Months Ended |
|
| |
|
September 30, |
|
|
September 30, |
|
| |
|
2020 |
|
|
2019 |
|
|
2020 |
|
|
2019 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Hotel rooms and events |
|
$ |
2,946 |
|
|
$ |
140,778 |
|
|
$ |
212,708 |
|
|
$ |
508,134 |
|
| Restaurants |
|
|
22,331 |
|
|
|
38,954 |
|
|
|
87,711 |
|
|
|
136,735 |
|
| Winemaking |
|
|
23,212 |
|
|
|
29,069 |
|
|
|
45,099 |
|
|
|
131,949 |
|
| Golf, tennis and other |
|
|
11,739 |
|
|
|
13,870 |
|
|
|
128,279 |
|
|
|
155,081 |
|
| Clothes and accessories |
|
|
- |
|
|
|
- |
|
|
|
749 |
|
|
|
- |
|
| Real estate sales |
|
|
- |
|
|
|
8,560 |
|
|
|
- |
|
|
|
8,560 |
|
| Total revenues |
|
$ |
60,228 |
|
|
$ |
231,231 |
|
|
$ |
474,546 |
|
|
$ |
940,459 |
|
|
The following table summarizes
the revenue recognized in the Company’s consolidated statements of operations:
| |
|
For the Years Ended |
|
| |
|
December 31, |
|
| |
|
2019 |
|
|
2018 |
|
| Real estate sales |
|
$ |
- |
|
|
$ |
1,467,714 |
|
| Hotel rooms and events |
|
|
740,284 |
|
|
|
882,213 |
|
| Restaurants |
|
|
169,600 |
|
|
|
277,652 |
|
| Winemaking |
|
|
180,692 |
|
|
|
315,741 |
|
| Golf, tennis and other |
|
|
182,196 |
|
|
|
156,288 |
|
| Clothes and accessories |
|
|
11,665 |
|
|
|
- |
|
| Total revenues |
|
$ |
1,284,437 |
|
|
$ |
3,099,608 |
|
|
| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
The following securities
are excluded from the calculation of weighted average dilutive common shares because their inclusion would have been anti-dilutive:
| |
|
September 30, |
|
| |
|
2020 |
|
|
2019 |
|
| |
|
|
|
|
|
|
| Options |
|
|
9,209,586 |
|
|
|
9,631,890 |
|
| Warrants |
|
|
8,061,227 |
|
|
|
627,404 |
|
| Series B convertible preferred stock |
|
|
9,010,700 |
|
|
|
9,026,700 |
|
| Convertible debt |
|
|
3,785,047 |
[1] |
|
|
- |
[2] |
| Total potentially dilutive shares |
|
|
30,066,560 |
|
|
|
19,285,994 |
|
[1] As of September 30, 2020, certain
of the convertible notes had variable conversion prices and the potentially dilutive shares were estimated based on market conditions.
See Note 9 – Convertible Debt Obligations.
[2] As of September 30, 2019, all
notes are past their maturity date and no longer convertible. See Note 8 – Debt Obligations.
|
The following securities
are excluded from the calculation of weighted average dilutive common shares because their inclusion would have been anti-dilutive:
| |
|
For the Years Ended |
|
| |
|
December 31, |
|
| |
|
2019 |
|
|
2018 |
|
| Options |
|
|
9,550,640 |
|
|
|
9,499,265 |
|
| Warrants |
|
|
566,742 |
|
|
|
1,229,630 |
|
| Series B convertible preferred stock |
|
|
9,026,700 |
|
|
|
9,026,700 |
|
| Convertible debt |
|
|
- |
|
|
|
4,631,356 |
|
| Total potentially dilutive shares |
|
|
19,144,082 |
|
|
|
24,386,951 |
|
|