Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.20.2
Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Schedule of Revenue Recognized Multiple-Deliverable Arrangements

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

 

    For The Three Months Ended     For The Six Months Ended  
    June 30,     June 30,  
    2020     2019     2020     2019  
                         
Hotel rooms and events   $ 3,507     $ 107,736     $ 209,762     $ 367,356  
Restaurants     5,864       31,858       65,380       97,781  
Winemaking     20,844       12,338       21,887       102,880  
Golf, tennis and other     87,117       116,801       116,540       141,211  
Clothes and accessories     -       -       749       -  
Total revenues   $ 117,332     $ 268,733     $ 414,318     $ 709,228  
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:

 

    June 30,  
    2020     2019  
             
Options     8,979,890       7,409,375  
Warrants     474,623       992,166  
Series B convertible preferred stock     9,010,700       9,026,700  
Convertible debt     3,443,439 [1]     - [2]
Total potentially dilutive shares     21,908,652       17,428,241  

 

[1] As of June 30, 2020, certain of the convertible notes had variable conversion prices and the potentially dilutive shares were estimated based on market conditions. See Note 9 – Convertible Debt Obligations.

 

[2] As of June 30, 2019, all notes are past their maturity date and no longer convertible. See Note 8 – Debt obligations.