Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.20.2
Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 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 Nine Months Ended  
    September 30,     September 30,  
    2020     2019     2020     2019  
                         
Hotel rooms and events   $ 2,946     $ 140,778     $ 212,708     $ 508,134  
Restaurants     22,331       38,954       87,711       136,735  
Winemaking     23,212       29,069       45,099       131,949  
Golf, tennis and other     11,739       13,870       128,279       155,081  
Clothes and accessories     -       -       749       -  
Real estate sales     -       8,560       -       8,560  
Total revenues   $ 60,228     $ 231,231     $ 474,546     $ 940,459  

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:

 

    September 30,  
    2020     2019  
             
Options     9,209,586       9,631,890  
Warrants     8,061,227       627,404  
Series B convertible preferred stock     9,010,700       9,026,700  
Convertible debt     3,785,047 [1]     - [2]
Total potentially dilutive shares     30,066,560       19,285,994  

 

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