Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

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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:

 

    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

 

    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:

 

    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.