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BALANCE SHEETS (unaudited) (USD $)
Jun. 30, 2014
Dec. 31, 2013
CURRENT ASSETS    
Cash and cash equivalents $ 409,378 $ 945,683
Accounts receivable, net 938,550 1,229,391
Inventories (Note 2) 9,469,923 9,833,312
Prepaid expenses and other current assets 93,959 177,769
Current portion of distribution agreement receivable 250,000 250,000
Income tax receivable 0 143,363
Total current assets 11,161,810 12,579,518
Restricted cash (Note 1) 0 450,000
Vineyard development costs, net 2,565,223 2,257,217
Property and equipment, net (Note 3) 14,661,540 13,659,090
Debt issuance costs, net 56,795 58,987
TOTAL ASSETS 28,445,368 29,004,812
CURRENT LIABILITIES    
Accounts payable 254,821 711,333
Accrued expenses 416,590 456,842
Current portion of long-term debt 320,280 306,353
Income taxes payable 52,978 0
Deferred income taxes 444,000 444,000
Current portion of deferred revenue-distribution agreement 142,857 142,857
Unearned revenue 40,092 0
Grapes payable 0 689,028
Total current liabilities 1,671,618 2,750,413
Long-term debt, net of current portion 5,340,104 5,510,392
Deferred rent liability 173,093 182,490
Deferred revenue-distribution agreement, net of current portion 452,373 523,803
Deferred gain 169,409 185,456
Deferred income taxes 993,000 993,000
Total liabilities 8,799,597 10,145,554
COMMITMENTS AND CONTINGENCIES      
SHAREHOLDERS' EQUITY    
Common stock, no par value, 10,000,000 shares authorized, 4,961,177 and 4,945,977 shares issued at June 30, 2014 and December 31, 2013, respectively. 8,922,148 8,857,085
Retained earnings 11,148,725 10,427,275
Less: Common stock held in treasury, at cost, 113,418 and 113,418 shares at June 30, 2014 and December 31, 2013, respectively (425,102) (425,102)
Total shareholder's equity 19,645,771 18,859,258
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 28,445,368 $ 29,004,812