Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.23.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 3 Months Ended
Mar. 31, 2023
Accounting Policies [Abstract]  
SCHEDULE OF DISAGGREGATION OF REVENUE

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

SCHEDULE OF DISAGGREGATION OF REVENUE 

    2023     2022  
    For the Three Months Ended  
    March 31,  
    2023     2022  
             
Real estate sales   $ -     $ 184,658  
Hotel rooms and events     245,687       139,099  
Restaurants     79,018       17,270  
Winemaking     29,823       26,809  
Agricultural     -       27,498  
Golf, tennis and other     27,857       25,101  
Clothes and accessories     65,382       5,162  
Total revenues   $ 447,767     $ 425,597  
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:

 

    2023     2022  
    As of March 31,  
    2023     2022  
             
Options     34,806       561,027  
Warrants     4,839,254       2,024,166  
Unvested restricted stock units     517,610       -  
Convertible debt     5,827,783 [1]     1,897,860 [2]
Total potentially dilutive shares     11,219,453       4,483,053  

 

[1] Represents shares issuable upon conversion of $5,536,394 in convertible debt outstanding as of March 31, 2023 at a conversion price of $0.95 per share, which represents the conversion price in effect as of March 31, 2023. The conversion price of such debt is variable (see Note 9, Convertible Debt Obligations).

 

[2] Represents shares issuable upon conversion of principal and interest outstanding in the aggregate amount of $6,642,510 at a conversion price of $3.50 per share.