Quarterly report pursuant to Section 13 or 15(d)

DEFERRED REVENUE

v3.23.2
DEFERRED REVENUE
 6 Months Ended
Jun. 30, 2023
Revenue from Contract with Customer [Abstract]  
DEFERRED REVENUE

8. DEFERRED REVENUE

 

Deferred revenue is comprised of the following:

 

   

June 30,

2023

    

December 31,

2022

  
             
Real estate lot sales deposits   $ 1,332,695     $ 1,179,654  
Prepaid management fees     -       150,000  
Other     36,226       44,252  
Total   $ 1,368,921     $ 1,373,906  

 

 

GAUCHO GROUP HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

 

The Company accepts deposits in conjunction with agreements to sell real estate building lots at Algodon Wine Estates in the Mendoza wine region of Argentina. These lot sale deposits are generally denominated in U.S. dollars. The Company received deposits for eleven additional lots and recorded deferred revenues in the amount of $308,000 during the six months ended June 30, 2023. Revenue is recorded when the sale closes, and the deeds are issued. The Company recorded the sale of one lot and recorded revenue in the amount of $154,959 during the three and six months ended June 30, 2023.