Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT

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PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

6. PROPERTY AND EQUIPMENT

 

Property and equipment consist of the following:

  SCHEDULE OF PROPERTY AND EQUIPMENT 

             
    December 31,  
    2023     2022  
             
Buildings and improvements   $ 4,393,244     $ 3,926,884  
Real estate development     599,886       541,116  
Land     2,202,099       2,194,671  
Furniture and fixtures     434,745       425,774  
Vineyards     219,766       219,766  
Machinery and equipment     770,758       737,433  
Leasehold improvements     1,400,663       1,400,663  
Computer hardware and software     353,004       312,459  
Property and equipment, gross     10,374,165       9,758,766  
Less: Accumulated depreciation and amortization     (2,567,795 )     (2,137,509 )
Property and equipment, net   $ 7,806,370     $ 7,621,257  

 

Depreciation and amortization of property and equipment was $430,285 and $247,129 for the years ended December 31, 2023 and 2022, respectively, of which $48,861 and $54,399, respectively, are included in cost of sales and $381,424 and $192,730, respectively are included in operating expenses on the accompanying consolidated statements of operations.