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BALANCE SHEETS - USD ($)
Dec. 31, 2018
Dec. 31, 2017
CURRENT ASSETS    
Cash and cash equivalents $ 9,737,467 $ 13,776,257
Accounts receivable, net (Note 2) 2,352,890 1,760,039
Inventories (Note 3) 16,247,109 14,793,594
Prepaid expenses and other current assets 219,800 108,102
Income tax receivable 77,063 0
Total current assets 28,634,329 30,437,992
Other assets 34,836 49,153
Vineyard development costs, net 7,028,920 6,006,250
Property and equipment, net (Note 4) 25,784,451 23,201,876
TOTAL ASSETS 61,482,536 59,695,271
CURRENT LIABILITIES    
Accounts payable 844,820 993,598
Accrued expenses 911,129 871,427
Investor deposits for preferred stock 0 430,305
Current portion of note payable 1,685,181 1,759,652
Current portion of long-term debt 417,293 397,251
Income taxes payable 0 125,297
Current portion of deferred revenue-distribution agreement 0 95,220
Unearned revenue 517,710 306,564
Grapes payable 1,019,129 1,455,569
Total current liabilities 5,395,262 6,434,883
Note payable, net of current portion 0 137,667
Long-term debt, net of current portion 6,251,316 6,655,384
Deferred rent liability 50,480 82,024
Deferred gain 24,983 57,077
Deferred income taxes 2,200,227 1,587,227
Total liabilities 13,922,268 14,954,262
COMMITMENTS AND CONTINGENCIES (Note 12)
SHAREHOLDERS' EQUITY    
Redeemable preferred stock, no par value, 10,000,000 shares authorized, 4,662,768 shares issued and outstanding, liquidation preference $19,350,487, at December 31, 2018 and 4,427,991 shares issued and outstanding, liquidation preference $18,375,831, at December 31, 2017, respectively. 18,319,102 17,339,508
Common stock, no par value, 10,000,000 shares authorized, 4,964,529 shares issued and outstanding at December 31, 2018 and December 31, 2017, respectively. 8,512,489 8,512,489
Retained earnings 20,728,677 18,889,012
Total shareholder's equity 47,560,268 44,741,009
LIABILITIES AND SHAREHOLDERS' EQUITY $ 61,482,536 $ 59,695,271