SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
12 Months Ended |
Dec. 31, 2023 |
|---|
| 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 |
|
Lesser
of 3-5 years or remaining lease term |
| 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 (for the Company’s operations
in the United Kingdom are immaterial for these financial metrics):
SCHEDULE
OF LONG-LIVED ASSETS BY GEOGRAPHIC AREAS
| |
|
2023 |
|
|
2022 |
|
| |
|
As
of December 31, |
|
| |
|
2023 |
|
|
2022 |
|
| Assets - Argentina |
|
$ |
12,795,836 |
|
|
$ |
13,434,803 |
|
| Assets - U.S. |
|
|
3,764,489 |
|
|
|
5,258,182 |
|
| Total Assets |
|
$ |
16,560,325 |
|
|
$ |
18,692,985 |
|
| |
|
|
|
|
|
|
|
|
| Liabilities - Argentina |
|
$ |
1,717,892 |
|
|
$ |
2,188,229 |
|
| Liabilities - U.S. |
|
|
9,146,454 |
|
|
|
5,713,075 |
|
| Total Liabilities |
|
$ |
10,864,346 |
|
|
$ |
7,901,304 |
|
|
| SCHEDULE OF REVENUE FROM EXTERNAL CUSTOMERS BY GEOGRAPHIC AREAS |
SCHEDULE
OF REVENUE FROM EXTERNAL CUSTOMERS BY GEOGRAPHIC AREAS
| |
|
|
2023 |
|
|
|
2022 |
|
| |
|
|
For
the Years Ended |
| |
|
|
December
31, |
| |
|
|
2023 |
|
|
|
2022 |
|
| Sales - Argentina |
|
$ |
1,911,436 |
|
|
$ |
1,540,955 |
|
| Sales - U.S. |
|
|
239,578 |
|
|
|
102,760 |
|
| Total Revenues |
|
$ |
2,151,014 |
|
|
$ |
1,643,716 |
|
| |
|
|
|
|
|
|
|
|
| Net loss - Argentina |
|
$ |
(1,184,927 |
) |
|
$ |
(1,023,622 |
) |
| Net loss - U.S. |
|
|
(15,013,083 |
) |
|
|
(20,801,676 |
) |
| Total Net Loss |
|
$ |
(16,198,010 |
) |
|
$ |
(21,825,298 |
) |
|
| SCHEDULE OF DISAGGREGATION OF REVENUE |
The
following table summarizes the revenue recognized in the Company’s consolidated statements of operations:
SCHEDULE
OF DISAGGREGATION OF REVENUE
| |
|
2023 |
|
|
2022 |
|
| |
|
For the Years
Ended |
|
| |
|
December
31 |
|
| |
|
2023 |
|
|
2022 |
|
| |
|
|
|
|
|
|
| Hotel rooms and events |
|
$ |
1,023,008 |
|
|
$ |
701,669 |
|
| Clothes and accessories |
|
|
239,578 |
|
|
|
139,305 |
|
| Restaurants |
|
|
239,314 |
|
|
|
173,566 |
|
| Winemaking |
|
|
220,911 |
|
|
|
153,356 |
|
| Agricultural |
|
|
162,764 |
|
|
|
181,029 |
|
| Real estate sales |
|
|
154,959 |
|
|
|
184,658 |
|
| Golf, tennis and other |
|
|
110,480 |
|
|
|
101,133 |
|
| Total Revenues |
|
$ |
2,151,014 |
|
|
$ |
1,643,716 |
|
|
| 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
| |
|
2023 |
|
|
2022 |
|
| |
|
As
of December 31, |
|
| |
|
2023 |
|
|
2022 |
|
| |
|
|
|
|
|
|
| Options |
|
|
2,804 |
|
|
|
4,061 |
|
| Warrants |
|
|
396,244 |
|
|
|
129,913 |
|
| Unvested restricted stock units |
|
|
76,127 |
|
|
|
51,150 |
|
| Convertible debt |
|
|
4,079,623 |
[1] |
|
|
89,904 |
[2] |
| Total potentially dilutive
shares |
|
|
4,554,798 |
|
|
|
275,028 |
|
| |
[1] |
Represents
shares issuable upon conversion of $1,595,697 in convertible debt, $253,079 of redemption premium and $91,492 of related accrued interest
outstanding as of December 31, 2023 at a conversion price of $0.48 per share, which represents the conversion price in effect as of
December 31, 2023. The conversion price of such debt is variable (see Note 14 - Convertible Debt Obligations). |
| |
[2] |
Represents
shares issuable upon conversion of principal and interest outstanding in the aggregate amount of $2,157,687 at a conversion price of
$24.00 per share. |
|