| SCHEDULE OF DISAGGREGATION OF REVENUE |
The
following table summarizes the revenue recognized in the Company’s condensed consolidated statements of operations:
SCHEDULE
OF DISAGGREGATION OF REVENUE
| |
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
| |
|
For
the Three Months Ended |
|
|
For
the Six Months Ended |
|
| |
|
June
30, |
|
|
June
30, |
|
| |
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Real estate sales |
|
$ |
- |
|
|
$ |
154,960 |
|
|
$ |
104,143 |
|
|
$ |
154,959 |
|
| Hotel rooms and events |
|
|
146,174 |
|
|
|
218,837 |
|
|
|
459,561 |
|
|
|
464,525 |
|
| Clothes and accessories |
|
|
31,977 |
|
|
|
42,381 |
|
|
|
86,918 |
|
|
|
107,763 |
|
| Restaurants |
|
|
41,789 |
|
|
|
56,989 |
|
|
|
96,470 |
|
|
|
136,007 |
|
| Winemaking |
|
|
91,612 |
|
|
|
45,918 |
|
|
|
131,969 |
|
|
|
75,741 |
|
| Agricultural sales |
|
|
81,370 |
|
|
|
162,764 |
|
|
|
81,537 |
|
|
|
162,764 |
|
| Golf,
tennis and other |
|
|
34,305 |
|
|
|
29,126 |
|
|
|
54,007 |
|
|
|
56,983 |
|
| Total
Revenues |
|
$ |
427,227 |
|
|
$ |
710,975 |
|
|
$ |
1,014,605 |
|
|
$ |
1,158,742 |
|
|
| 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:
SCHEDULE
OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE
| |
|
2024 |
|
|
2023 |
|
| |
|
As
of June 30, |
|
| |
|
2024 |
|
|
2023 |
|
| |
|
|
|
|
|
|
| Options |
|
|
302 |
|
|
|
385 |
|
| Warrants |
|
|
39,627 |
|
|
|
48,393 |
|
| Unvested restricted stock
units |
|
|
19,866 |
|
|
|
5,163 |
|
| Senior Secured Convertible
Notes |
|
|
410,746 |
[1] |
|
|
125,169
|
[2] |
| Convertible
8.5% Preferred Promissory Notes |
|
|
488,900 |
[3] |
|
|
- |
|
| Total
potentially dilutive shares |
|
|
959,441 |
|
|
|
179,110 |
|
| [1]
|
Represents
shares issuable upon conversion of $1,595,697 in convertible debt, $276,450 of redemption premium and $247,301 of related accrued
interest outstanding as of June 30, 2024 at a conversion price of $5.16 per share, which represents the conversion price in effect
as of June 30, 2024. The conversion price of such debt is variable and is subject to a floor price of $4.00 per share (see Note 10,
Convertible Debt Obligations). |
| |
|
| [2]
|
Represents
shares issuable upon conversion of $4,893,983 of convertible debt, $734,097 of redemption premium and $8,293 of related accrued interest
outstanding as of June 30, 2023, at a conversion price of $45.03 per share, which represents the conversion price in effect as of
June 30, 2023. The conversion price of such debt is variable and is subject to a floor price of $27.00 per share (see Note 10, Convertible
Debt Obligations). |
| |
|
| [3]
|
Represents
shares issuable upon conversion of $1,936,025 of convertible debt principal and $19,484 of related accrued interest outstanding as
of June 30, 2024. The debt is initially convertible into convertible preferred shares at a conversion price of $100 per preferred
share. Each convertible preferred share is then convertible into 25 shares of common stock. |
|