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PROPERTY AND EQUIPMENT, NET
 9 Months Ended
Sep. 30, 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:

 

   September 30, 2024   December 31, 2023 
Construction in progress  $968,066   $639,840 
Land, improvements, and other buildings   14,992,965    14,491,827 
Winery, tasting room buildings, and hospitality center   44,112,526    43,991,586 
Equipment   20,717,793    20,103,535 
           
Property and equipment, gross   80,791,350    79,226,788 
           
Accumulated depreciation   (28,162,922)   (25,857,151)
           
Property and equipment, net  $52,628,428   $53,369,637 

 

Depreciation expense for the three months ended September 30, 2024 and 2023 were $785,581 and $738,354, respectively. Depreciation expense for the nine months ended September 30, 2024 and 2023 were $2,368,537 and $2,197,966, respectively.