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BALANCE SHEETS (unaudited) - USD ($)
Sep. 30, 2015
Dec. 31, 2014
CURRENT ASSETS    
Cash and cash equivalents $ 195,177 $ 519,761
Restricted cash (Note 1) 3,038,278 0
Accounts receivable, net 1,310,192 1,612,124
Inventories (Note 2) 10,383,662 9,910,570
Prepaid expenses and other current assets 389,474 150,024
Income tax receivable 119,038 323,014
Total current assets 15,435,821 12,515,493
Investment in Kore Wine Company 60,000 0
Vineyard development costs, net 3,363,644 3,368,545
Property and equipment, net (Note 3) 16,722,235 15,038,659
Debt issuance costs, net 51,317 54,604
TOTAL ASSETS 35,633,017 30,977,301
CURRENT LIABILITIES    
Accounts payable 577,164 742,024
Accrued expenses 793,213 551,587
Investor deposits for preferred stock (Note1) 3,038,278 0
Current portion of note payable 245,417 0
Current portion of long-term debt 343,529 329,255
Deferred income taxes 206,000 206,000
Current portion of deferred revenue-distribution agreement 142,857 142,857
Unearned revenue 47,842 34,435
Grapes payable 634,487 698,851
Total current liabilities 6,028,787 2,705,009
Note payable, net of current portion 245,417 0
Long-term debt, net of current portion 4,913,812 5,173,039
Deferred rent liability 146,491 163,696
Deferred revenue-distribution agreement, net of current portion 273,798 380,943
Deferred gain 129,290 153,362
Deferred income taxes 1,211,000 1,211,000
Total liabilities 12,948,595 $ 9,787,049
COMMITMENTS AND CONTINGENCIES  
SHAREHOLDERS' EQUITY    
Common stock, no par value, 10,000,000 shares authorized, 5,099,177 and 4,983,206 shares issued at September 30, 2015 and December 31, 2014, respectively, 4,949,278 and 4,869,788 shares outstanding at September 30, 2015 and December 31, 2014, respectively. 9,492,209 $ 9,026,739
Retained earnings 13,867,340 12,588,615
Less: Common stock held in treasury, at cost, 149,899 and 113,418 shares at September 30, 2015 and December 31, 2014, respectively (675,127) (425,102)
Total shareholder's equity 22,684,422 21,190,252
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 35,633,017 $ 30,977,301