SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
9 Months Ended |
Sep. 30, 2021 |
|---|
| Accounting Policies [Abstract] |
|
| SCHEDULE OF REVENUE RECOGNIZED MULTIPLE-DELIEVERABLE ARRANGEMENT |
The
following table summarizes the revenue recognized in the Company’s condensed consolidated statements of operations:
SCHEDULE
OF REVENUE RECOGNIZED MULTIPLE-DELIEVERABLE ARRANGEMENT
| |
|
For
The Three Months Ended |
|
|
For
The Nine Months Ended |
|
| |
|
September
30, |
|
|
September
30, |
|
| |
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Real
estate sales |
|
$ |
2,500,001 |
|
|
$ |
- |
|
|
$ |
2,647,257 |
|
|
$ |
- |
|
| Hotel
rooms and events |
|
|
46,803 |
|
|
|
2,946 |
|
|
|
168,482 |
|
|
|
212,708 |
|
| Restaurants |
|
|
3,482 |
|
|
|
22,331 |
|
|
|
159,721 |
|
|
|
87,711 |
|
| Winemaking |
|
|
34,943 |
|
|
|
23,212 |
|
|
|
81,993 |
|
|
|
45,099 |
|
| Golf,
tennis and other |
|
|
18,528 |
|
|
|
11,739 |
|
|
|
152,952 |
|
|
|
128,279 |
|
| Clothes
and accessories |
|
|
1,401 |
|
|
|
- |
|
|
|
10,152 |
|
|
|
749 |
|
| Total
revenues |
|
$ |
2,605,158 |
|
|
$ |
60,228 |
|
|
$ |
3,220,557 |
|
|
$ |
474,546 |
|
|
| SCHEDULE OF EARNINGS PER SHARE |
SCHEDULE
OF EARNINGS PER SHARE
| |
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
| |
|
For
the Three Months Ended
September 30, |
|
|
For
the Nine Months Ended
September 30, |
|
| |
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
| Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
| Net
income (numerator for basic and diluted earnings per share) |
|
$ |
976,293 |
|
|
$ |
(1,079,555 |
) |
|
$ |
(1,384,292 |
) |
|
$ |
(4,147,890 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted
average shares outstanding (denominator for basic earnings per share) |
|
|
8,658,395 |
|
|
|
4,110,303 |
|
|
|
7,530,833 |
|
|
|
4,049,059 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Effects
of dilutive securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Assumed
exercise of stock options, treasury stock method |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Assumed
exercise of warrants, treasury stock method |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Dilutive
potential common shares |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Denominator
for diluted earnings per share - weighted average shares and assumed potential common shares |
|
|
8,658,395 |
|
|
|
4,110,303 |
|
|
|
7,530,833 |
|
|
|
4,049,059 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic
earnings per share |
|
$ |
0.11 |
|
|
$ |
(0.26 |
) |
|
$ |
(0.18 |
) |
|
$ |
(1.02 |
) |
| Diluted
earnings per share |
|
$ |
0.11 |
|
|
$ |
(0.26 |
) |
|
$ |
(0.18 |
) |
|
$ |
(1.02 |
) |
|
| SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE |
The
following securities were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive:
SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE
| |
|
As
of September 30, |
|
| |
|
2021 |
|
|
2020 |
|
| |
|
|
|
|
|
|
| Options |
|
|
587,699 |
|
|
|
613,972 |
|
| Warrants |
|
|
2,026,478 |
|
|
|
537,415 |
|
| Series
B convertible preferred stock |
|
|
- |
|
|
|
600,713 |
|
| Convertible
debt |
|
|
- |
|
|
|
252,336 |
[1] |
| Total
potentially dilutive shares |
|
|
2,614,177 |
|
|
|
2,004,436 |
|
| [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. |
|