Annual report pursuant to Section 13 and 15(d)

DEFERRED REVENUES

v3.23.1
DEFERRED REVENUES
 12 Months Ended
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]  
DEFERRED REVENUES

11. DEFERRED REVENUES

 

Deferred revenues are comprised of the following:

SCHEDULE OF DEFERRED REVENUES

    1      2   
    For the Years Ended  
    December 31,  
    2022     2021  
             
Real estate lot sales deposits   $ 1,179,654     $ 622,453  
Prepaid management fees     150,000       -  
Other     44,252       91,163  
Total   $ 1,373,906     $ 713,616  

 

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 in U.S. dollars. The Company executed new agreements for the sale of five additional lots during the year ended December 31, 2022 and recorded deferred revenues in the amount of $557,201. This increase in deferred revenues is partially offset by the impact of the change in exchange rates during the period. Revenue is recorded when the sale closes, and the deeds are issued.

 

 

GAUCHO GROUP HOLDINGS, INC. AND SUBSIDIARIES

 

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS