Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2016
Accounting Policies [Abstract]  
Schedule of Plant and Equipment, Useful Life

These assets are depreciated using the straight-line method over their estimated useful lives as follows:

 

Buildings 10 - 30 years
Furniture and fixtures 3 - 10 years
Vineyards 7 - 20 years
Machinery and equipment 3 - 20 years
Leasehold improvements 3 - 5 years
Computer hardware and software 3 - 5 years

Schedule of Long-lived Assets by Geographic Areas

The following summarizes key financial metrics associated with the Company’s continuing operations (these financial metrics are immaterial for the Company’s operations in the United Kingdom):

 

   

As of

December 31,

  
    2016     2015  
Assets- Argentina   $ 5,456,317     $ 6,254,631  
Assets- U.S.     1,285,338       634,434  
Assets of continuing operations   $ 6,741,655     $ 6,889,065  
                 
Liabilities- Argentina   $ 2,883,656     $ 2,222,456  
Liabilities- U.S.     1,595,588       2,251,075  
Liabilities of continuing operations   $ 4,479,244     $ 4,473,531  

Schedule of Revenue from External Customers by Geographic Areas

    For The Years Ended  
    December 31,  
    2016     2015  
Revenues- Argentina   $ 1,478,946     $ 1,842,356  
Revenues- U.S.     47,129       24,329  
Revenues from continuing operations   $ 1,526,075     $ 1,866,685  
                 
Net Loss- Argentina   $ 1,693,684     $ 2,434,321  
Net Loss- U.S.     6,106,179       3,995,239  
Net Loss from continuing operations   $ 7,799,863     $ 6,429,560  

Schedule of Revenue Recognized Multiple-deliverable Arrangements

The Company operates within a single operating segment, because all of its operations are in support of the Company’s branding strategy and its associated real estate development initiatives. However, the Company does track revenues from continuing operations associated with its different products and services, as follows:

 

    For The Years Ended  
    December 31,  
    2016     2015  
Hotel rooms and events   $ 846,245     $ 851,389  
Restaurants     317,258       519,255  
Winemaking     246,918       372,035  
Agricultural     25,647       13,336  
Golf, tennis and other     90,007       110,670  
Total revenues   $ 1,526,075     $ 1,866,685  

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:

 

    December 31,  
    2016     2015  
             
Options     8,024,265       8,939,436  
Warrants     1,901,480       1,382,186  
Total potentially dilutive shares     9,925,745       10,321,622