Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT

v3.22.1
PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

4. PROPERTY AND EQUIPMENT

 

Property and equipment consist of the following:

 

             
    December 31,  
    2021     2020  
             
Buildings and improvements   $ 2,869,300     $ 1,915,965  
Real estate development     210,322       748,764  
Land     575,233       660,315  
Furniture and fixtures     403,560       349,729  
Vineyards     219,766       204,636  
Machinery and equipment     693,761       490,169  
Leasehold improvements     449,401       -  
Computer hardware and software     245,978       230,648  
 Property and equipment, gross     5,667,321       4,600,226  
Less: Accumulated depreciation and amortization     (1,890,380 )     (1,740,004 )
Property and equipment, net   $ 3,776,941     $ 2,860,222  

 

 

GAUCHO GROUP HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

 

During the year ended December 31, 2020, upon terminating its New York City lease, the Company wrote-off approximately $164,000 of fully amortized leasehold improvements.

 

Depreciation and amortization of property and equipment was $145,653 and $170,189 for the years ended December 31, 2021 and 2020, respectively.