Annual report pursuant to Section 13 and 15(d)

DEFERRED REVENUES

v3.22.1
DEFERRED REVENUES
 12 Months Ended
Dec. 31, 2021
Revenue from Contract with Customer [Abstract]  
DEFERRED REVENUES

8. DEFERRED REVENUES

 

Deferred revenues are comprised of the following:

 

    For the Years Ended  
    December 31,  
    2021     2020  
             
Real estate lot sales deposits   $ 622,453     $ 849,828  
Other     91,163       84,113  
Total   $ 713,616     $ 933,941  

 

 

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 one additional lot during the year ended December 31, 2021 and recorded deferred revenues in the amount of $34,000. No agreements for the sale of real estate building lots were executed during 2020. Revenue is recorded when the sale closes, and the deeds are issued. The Company closed on the sale of 22 lots during the year ended December 31, 2021.

 

 

GAUCHO GROUP HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS