XML 14 R2.htm IDEA: XBRL DOCUMENT v3.20.4
BALANCE SHEETS - USD ($)
Dec. 31, 2020
Dec. 31, 2019
CURRENT ASSETS    
Cash and cash equivalents $ 13,999,755 $ 7,050,176
Accounts receivable, net (Note 2) 2,671,576 1,814,004
Inventories (Note 3) 17,687,973 17,075,080
Prepaid expenses and other current assets 182,266 202,981
Income tax receivable 484,560 623,568
Total current assets 35,026,130 26,765,809
Other assets 13,824 13,824
Vineyard development costs, net 8,020,074 7,624,646
Property and equipment, net (Note 4) 31,486,856 28,648,301
Operating lease right of use assets 4,943,463 4,862,907
Total assets 79,490,347 67,915,487
CURRENT LIABILITIES    
Accounts payable 1,416,210 859,215
Accrued expenses 1,335,125 1,004,281
Investor deposits for prefered stock 510,636 0
Current portion of note payable 1,384,581 1,468,473
Current portion of long-term debt 450,040 438,378
Current portion of lease liabilities 277,686 203,482
Unearned revenue 622,077 604,777
Grapes payable 1,307,165 792,595
Total current liabilities 7,303,520 5,371,201
Long-term debt, net of current portion and debt issuance costs 5,389,457 5,826,161
Lease liabilities, net of current portion 4,724,344 4,714,413
Deferred income taxes 3,251,099 2,958,606
Total liabilities 20,668,420 18,870,381
Commitments and contingencies (note 12)
SHAREHOLDERS' EQUITY    
Redeemable preferred stock, no par value, 10,000,000 shares authorized, 6,309,508 shares issued and outstanding, liquidation preference $26,184,458, at December 31, 2020 and 4,662,768 shares issued and outstanding, liquidation preference $19,350,487, at December 31, 2019 25,817,305 18,319,102
Common stock, no par value, 10,000,000 shares authorized, 4,964,529 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively 8,512,489 8,512,489
Retained earnings 24,492,133 22,213,515
Total shareholder's equity 58,821,927 49,045,106
Liabilities anf shareholder's equity $ 79,490,347 $ 67,915,487