Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.19.1
Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2019
Accounting Policies [Abstract]  
Schedule of Revenue Recognized Multiple-Deliverable Arrangements

The following table summarizes the revenue recognized in the Company’s condensed statements of operations:

 

    For The Three Months Ended  
    March 31,  
    2019     2018  
             
Real estate sales   $ -     $ 799,854  
Hotel room and events     259,620       223,568  
Restaurants     65,923       90,097  
Winemaking     90,542       139,396  
Golf, tennis and other     24,410       25,008  
    $ 440,495     $ 1,277,923  

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:

 

    March 31,  
    2019     2018  
             
Options     10,549,265       10,312,926  
Warrants     1,132,609       1,389,179  
Series B convertible preferred stock     9,026,700       9,026,700  
Convertible debt (1)     7,654,070       -  
Total potentially dilutive shares     28,362,644       20,728,805  

 

  (1) At March 31, 2018, $1,239,704 of convertible debt is convertible into common stock at a 10% discount to the price used for the sale of the of the Company’s common stock in a future private placement offering.