v3.26.1
CONDENSED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash and cash equivalents $ 404,712 $ 410,886
Accounts receivable, net 3,861,980 4,511,460
Inventories 32,430,810 33,380,079
Prepaid expenses and other current assets 592,947 659,033
Income tax receivable 236,781 44,117
Total current assets 37,527,230 39,005,575
Other assets 13,824 13,824
Vineyard development costs, net 8,597,002 8,626,391
Property and equipment, net 48,677,134 49,404,999
Operating lease right of use assets 10,535,024 10,684,810
TOTAL ASSETS 105,350,214 107,735,599
CURRENT LIABILITIES    
Accounts payable 1,438,138 1,546,997
Accrued expenses 1,834,424 1,909,084
Investor deposits for preferred stock 2,057,265
Bank overdraft 243,699
Line of credit 2,359,437 3,140,140
Note payable 854,907 884,221
Current portion of long-term debt 1,022,686 1,008,215
Current portion of lease liabilities 510,202 490,247
Unearned revenue 2,617,120 2,776,919
Grapes payable 654,832
Total current liabilities 10,880,613 14,467,920
Long-term debt, net of current portion and debt issuance costs 13,758,244 14,017,343
Lease liabilities, net of current portion 10,743,972 10,881,501
Deferred income taxes 2,180,660 2,180,660
Total liabilities 37,563,489 41,547,424
SHAREHOLDERS’ EQUITY    
Redeemable preferred stock, no par value, 100,000,000 shares authorized, 11,019,472 shares issued and outstanding, liquidation preference $46,336,880, at March 31, 2026 and 10,239,573 shares issued and outstanding, liquidation preference $42,494,228, at December 31, 2025. 46,106,055 43,357,396
Common stock, no par value, 10,000,000 shares authorized, 4,979,529 shares issued and outstanding at March 31, 2026 and 4,979,529 shares issued and outstanding at December 31, 2025 8,658,595 8,637,560
Retained earnings 13,022,075 14,193,219
Total shareholders’ equity 67,786,725 66,188,175
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 105,350,214 $ 107,735,599