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BALANCE SHEETS (unaudited) - USD ($)
Sep. 30, 2018
Dec. 31, 2017
CURRENT ASSETS    
Cash and cash equivalents $ 10,940,289 $ 13,776,257
Accounts receivable, net 1,568,216 1,760,039
Inventories (Note 2) 15,342,544 14,793,594
Prepaid expenses and other current assets 136,468 108,102
Total current assets 27,987,517 30,437,992
Other assets 34,836 49,153
Vineyard development costs, net 7,007,928 6,006,250
Property and equipment, net (Note 3) 25,498,387 23,201,876
TOTAL ASSETS 60,528,668 59,695,271
CURRENT LIABILITIES    
Accounts payable 844,135 993,598
Accrued expenses 1,090,093 871,427
Investor deposits for preferred stock (Note 9) 0 430,305
Current portion of note payable 1,704,216 1,759,652
Current portion of long-term debt 412,186 397,251
Income taxes payable 302,553 125,297
Deferred revenue-distribution agreement 0 95,220
Unearned revenue 244,631 306,564
Grapes payable 401,854 1,455,569
Total current liabilities 4,999,668 6,434,883
Note payable, net of current portion 0 137,667
Long-term debt, net of current portion and debt issuance costs 6,354,502 6,655,384
Deferred rent liability 58,366 82,024
Deferred gain 33,006 57,077
Deferred income taxes 1,587,227 1,587,227
Total liabilities 13,032,769 14,954,262
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY    
Redeemable preferred stock, no par value, 10,000,000 shares authorized, 4,662,518 shares, liquidation preference $20,117,220, issued and outstanding at September 30, 2018 and 4,427,991, liquidation preference $18,375,831 issued and outstanding at December 31, 2017, respectively. $ 19,086,821 $ 17,339,508
Common stock, no par value, 10,000,000 shares authorized, 4,964,529 shares issued and outstanding at September 30, 2018 and December 31, 2017. $ 8,512,489 $ 8,512,489
Retained earnings 19,896,589 18,889,012
Total shareholder's equity 47,495,899 44,741,009
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 60,528,668 $ 59,695,271