Assets

Accounts receivable – related parties of $493,531 and $237,119 at December 31, 2016 and 2015, respectively, represents the net realizable value of advances made to related, but independent, entities under common management.

See Note 8 – Investments and Fair Value of Financial Instruments, for a discussion of the Company’s investment in warrants of a related, but independent, entity.

Expense Sharing

On April 1, 2010, the Company entered into an agreement with a related, but independent, entity under common management, of which AWLD’s CEO is Chairman and Chief Executive Officer, and AWLD’s CFO is an executive officer, to share expenses such as office space, support staff and other operating expenses. The agreement was amended on January 1, 2015 to update for current use of personnel, office space, professional services and material. During the years ended December 31, 2016 and 2015, the Company was entitled to receive $124,428 and $126,766, respectively, in reimbursement of general and administrative expenses as a result of the agreement. The entity owed $363,389 and $177,755, respectively, as of December 31, 2016 and 2015, under such and similar prior agreements. The amount owed to the Company at December 31, will be repaid in installments through October 1, 2018, pursuant to a repayment schedule agreed upon by the Company and the related entity on March 24, 2017.

The Company has an expense sharing agreement with a related entity to share expenses such as office space and other clerical services. The owners of more than 5% of that entity include (i) AWLD’s chairman, and (ii) a more than 5% owner of AWLD. During each of the years ended December 31, 2016 and 2015, the Company was entitled to receive $15,960 in reimbursement of general and administrative expenses as a result of the agreement. The entity owed $396,067and $380,472 to the Company under the expense sharing agreement as of December 31, 2016 and 2015, respectively, of which $387,000 and $376,000, respectively, is deemed unrecoverable and reserved.

Other Relationships

An investor and a greater than 5% stockholder of the Company is affiliated with a company that imported wines for AWE to the United States through December 31, 2015.