SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
12 Months Ended |
Dec. 31, 2020 |
|---|
| Accounting Policies [Abstract] |
|
| SCHEDULE OF PLANT AND EQUIPMENT, USEFUL LIFE |
The
estimated useful lives of property and equipment are as follows:
SCHEDULE
OF PLANT AND EQUIPMENT, USEFUL LIFE
| 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):
SCHEDULE
OF LONG-LIVED ASSETS BY GEOGRAPHIC AREAS
| |
|
2020 |
|
|
2019 |
|
| |
|
For
the Years Ended |
|
| |
|
December
31, |
|
| |
|
2020 |
|
|
2019 |
|
| Assets - Argentina |
|
$ |
5,064,401 |
|
|
$ |
5,020,787 |
|
| Assets - U.S. |
|
|
906,135 |
|
|
|
899,573 |
|
| Total
Assets |
|
$ |
5,970,536 |
|
|
$ |
5,920,360 |
|
| |
|
|
|
|
|
|
|
|
| Liabilities - Argentina |
|
$ |
1,979,719 |
|
|
$ |
2,373,203 |
|
| Liabilities -
U.S. |
|
|
3,596,991 |
|
|
|
3,547,731 |
|
| Total
Liabilities |
|
$ |
5,576,710 |
|
|
$ |
5,920,934 |
|
|
| SCHEDULE OF REVENUE FROM EXTERNAL CUSTOMERS BY GEOGRAPHIC AREAS |
SCHEDULE
OF REVENUE FROM EXTERNAL CUSTOMERS BY GEOGRAPHIC AREAS
| |
|
2020 |
|
|
2019 |
|
| |
|
For
the Years Ended |
|
| |
|
December
31, |
|
| |
|
2020 |
|
|
2019 |
|
| Sales - Argentina |
|
$ |
632,628 |
|
|
$ |
1,272,772 |
|
| Sales - U.S. |
|
|
3,161 |
|
|
|
11,665 |
|
| Total
Revenues |
|
$ |
635,789 |
|
|
$ |
1,284,437 |
|
| |
|
|
|
|
|
|
|
|
| Net loss - Argentina |
|
$ |
(1,040,681 |
) |
|
$ |
(1,559,766 |
) |
| Net loss - U.S. |
|
|
(4,741,002 |
) |
|
|
(5,397,049 |
) |
| Total
Net Loss |
|
$ |
(5,781,683 |
) |
|
$ |
(6,956,815 |
) |
|
| SCHEDULE OF REVENUE RECOGNIZED |
The
following table summarizes the revenue recognized in the Company’s consolidated statements of operations:
SCHEDULE
OF REVENUE RECOGNIZED
| |
|
2020 |
|
|
2019 |
|
| |
|
For
the Years Ended |
|
| |
|
December
31, |
|
| |
|
2020 |
|
|
2019 |
|
| |
|
|
|
|
|
|
| Hotel rooms and events |
|
$ |
258,607 |
|
|
$ |
740,284 |
|
| Restaurants |
|
|
127,335 |
|
|
|
169,600 |
|
| Winemaking |
|
|
101,630 |
|
|
|
180,692 |
|
| Golf, tennis and other |
|
|
140,545 |
|
|
|
182,196 |
|
| Clothes and accessories |
|
|
7,672 |
|
|
|
11,665 |
|
| Total
revenues |
|
$ |
635,789 |
|
|
$ |
1,284,437 |
|
|
| 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
| |
|
2020 |
|
|
2019 |
|
| |
|
For
the Years Ended |
|
| |
|
December
31, |
|
| |
|
2020 |
|
|
2019 |
|
| |
|
|
|
|
|
|
| Options |
|
|
626,579 |
|
|
|
636,750 |
|
| Warrants |
|
|
969,827 |
|
|
|
37,790 |
|
| Series B convertible
preferred stock |
|
|
600,713 |
|
|
|
601,780 |
|
| Total
potentially dilutive shares |
|
|
2,197,119 |
|
|
|
1,276,320 |
|
|