Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 3 Months Ended
Mar. 31, 2024
Accounting Policies [Abstract]  
SCHEDULE OF DISAGGREGATION OF REVENUE

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

 

 

    2024     2023  
    For the Three Months Ended  
    March 31  
    2024     2023  
             
Real estate sales   $ 104,143     $ -  
Hotel rooms and events     313,388       245,687  
Clothes and accessories     54,941       65,382  
Restaurants     54,681       79,018  
Winemaking     40,357       29,823  
Golf, tennis and other     19,868       27,857  
Total Revenues   $ 587,378     $ 447,767  
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:

 

  

    2024     2023  
    As of March 31,  
    2024     2023  
             
Options     302       348  
Warrants     39,627       48,393  
Unvested restricted stock units     7,491       5,176  
Convertible debt     497,922 [1]     58,278 [2]
Total potentially dilutive shares     545,342       112,195  

 

[1] Represents shares issuable upon conversion of $1,595,697 in convertible debt, $251,992 of redemption premium and $84,247 of related accrued interest outstanding as of March 31, 2024 at a conversion price of $3.88 per share, which represents the conversion price in effect as of March 31, 2024. The conversion price of such debt is variable (see Note 10, Convertible Debt Obligations).
   
[2] Represents shares issuable upon conversion of $5,536,394 in convertible debt outstanding as of March 31, 2023 at a conversion price of $95.00 per share, which represents the conversion price in effect as of March 31, 2023. The conversion price of such debt is variable (see Note 10, Convertible Debt Obligations).