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BALANCE SHEETS (unaudited) - USD ($)
Jun. 30, 2015
Dec. 31, 2014
CURRENT ASSETS    
Cash and cash equivalents $ 618,109 $ 519,761
Accounts receivable, net 1,266,975 1,612,124
Inventories (Note 2) 9,191,743 9,910,570
Prepaid expenses and other current assets 287,763 150,024
Income tax receivable 81,568 323,014
Total current assets 11,446,158 12,515,493
Investment in Kore Wine Company 60,000 0
Vineyard development costs, net 3,138,624 3,368,545
Property and equipment, net (Note 3) 16,432,533 15,038,659
Debt issuance costs, net 52,413 54,604
TOTAL ASSETS 31,129,728 30,977,301
CURRENT LIABILITIES    
Accounts payable 231,022 742,024
Accrued expenses 580,988 551,587
Current portion of note payable 245,417 0
Current portion of long-term debt 338,561 329,255
Deferred income taxes 206,000 206,000
Current portion of deferred revenue-distribution agreement 142,857 142,857
Unearned revenue 57,431 34,435
Grapes payable 0 698,851
Total current liabilities 1,802,276 2,705,009
Note payable, net of current portion 245,417 0
Long-term debt, net of current portion 5,001,068 5,173,039
Deferred rent liability 152,226 163,696
Deferred revenue-distribution agreement, net of current portion 309,513 380,943
Deferred gain 137,314 153,362
Deferred income taxes 1,211,000 1,211,000
Total liabilities 8,858,814 9,787,049
SHAREHOLDERS' EQUITY    
Common stock, no par value, 10,000,000 shares authorized, 5,041,177 and 4,983,206 shares issued at June 30, 2015 and December 31, 2014, respectively, 4,927,759 and 4,869,788 shares outstanding at June 30, 2015 and December 31, 2014, respectively. 9,282,932 9,026,739
Retained earnings 13,413,084 12,588,615
Less: Common stock held in treasury, at cost, 113,418 and 113,418 shares at June 30, 2015 and December 31, 2014, respectively (425,102) (425,102)
Total shareholder's equity 22,270,914 21,190,252
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 31,129,728 $ 30,977,301