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10. Subsequent Events
9 Months Ended
Sep. 30, 2014
Subsequent Events [Abstract]  
Subsequent Events

Subsequent events are events or transactions that occur after the balance sheet date but before financial statements are issued. The Company recognizes in the financial statements the effects of all subsequent events that provide additional evidence about conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing the financial statements.  The Company’s financial statement do not recognize subsequent events that provide evidence about conditions that did not exist at the date of the balance sheet but arose after the balance sheet date and before financial statements are issued.

 

In October of 2014, subsequent to the balance sheet date, the Company began the process to purchase 62 acres of primarily bare land for $496,000 for the purposes of growing grapes.  This purchase is part of the Company’s long term plan to increase the portion of grapes derived from its own vineyards in order to better control costs and quality as well as reduce grape supply risks.  This land is located within the Willamette AVA and is close to existing vineyards so as to garner farming efficiencies.  The Company anticipates completing this purchase in November 2014.