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LONG-TERM DEBT | 12 Months Ended
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Dec. 31, 2023
Debt Disclosure [Abstract] |
LONG-TERM DEBT | NOTE 7 – LONG-TERM DEBT Long-term debt consists of the following at December 31, 2023 and 2022: Schedule of Long-term Debt
|  | December 31, |
|  | 2023 |  |  | 2022 |
AgWest Loan #4 |  | $ | 829,386 |  |  | $ | 972,941 |
AgWest Loan #5 |  |  | 3,736,324 |  |  |  | 4,089,713 |
AgWest loan #6 |  |  | 3,024,949 |  |  |  | 2,000,000 |
Long-Term Debt, Gross |  |  | 7,590,659 |  |  |  | 7,062,654 |
Debt issuance costs |  |  | (105,989 | ) |  |  | (119,237 | )
Current portion of long-term debt |  |  | (522,798 | ) |  |  | (496,970 | )
Long-Term Debt |  | $ | 6,961,872 |  |  | $ | 6,446,447 |
The Company has three long term debt agreements with AgWest with an aggregate outstanding balance of $7,590,659 and $7,062,654 as of December 31, 2023 and 2022, respectively. The first two outstanding loans require monthly principal and interest payments of $62,067 for the life of the loans, at annual fixed interest rates of 4.75% and 5.21%, and with maturity dates of 2028 and 2032, respectively. The general purposes of these loans were to make capital improvements to the winery and vineyard facilities. The third loan bears interest at Northwest Variable base, which was 7.80% and 6.50% at December 31, 2023, and 2022, respectively, with interest due annually and principal at maturity on November 1, 2025. Future minimum principal payments of long-term debt are as follows for the years ending December 31: Schedule of Future Minimum Principal Payment for Long-Term Debt Maturities
2024 |  |  | 522,798 |
2025 |  |  | 3,574,920 |
2026 |  |  | 578,559 |
2027 |  |  | 608,636 |
2028 |  |  | 640,299 |
Thereafter |  |  | 1,665,447 |
Total |  | $ | 7,590,659 |
The weighted-average interest rates on the aforementioned borrowings for the years ended December 31, 2023 and 2022, was 6.19% and 5.57% respectively.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent + Details
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