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PROPERTY AND EQUIPMENT, NET
 3 Months Ended
Mar. 31, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT, NET

3) PROPERTY AND EQUIPMENT, NET

 

The Company’s property and equipment consists of the following, as of the dates shown:

 

   March 31, 2024   December 31, 2023 
Construction in progress  $912,895   $639,840 
Land, improvements, and other buildings   14,491,827    14,491,827 
Winery buildings and tasting rooms   44,112,526    43,991,586 
Equipment   20,141,690    20,103,535 
           
Property and equipment, gross   79,658,938    79,226,788 
           
Accumulated depreciation   (26,649,137)   (25,857,151)
           
Property and equipment, net  $53,009,801   $53,369,637 

 

Depreciation expense for the three months ended March 31, 2024 and 2023 was $791,986 and $726,564, respectively.