v3.26.1
CONDENSED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash and cash equivalents $ 589,502 $ 410,886
Accounts receivable, net 2,807,303 4,511,460
Inventories 31,517,284 33,380,079
Prepaid expenses and other current assets 600,298 659,033
Income tax receivable 482,896 44,117
Total current assets 35,997,283 39,005,575
Other assets 13,824 13,824
Vineyard development costs, net 8,571,687 8,626,391
Property and equipment, net 47,983,667 49,404,999
Operating lease right of use assets 10,383,516 10,684,810
TOTAL ASSETS 102,949,977 107,735,599
CURRENT LIABILITIES    
Accounts payable 2,352,935 1,546,997
Accrued expenses 1,877,224 1,909,084
Investor deposits for preferred stock 2,057,265
Bank overdraft 534,488
Line of credit 634,842 3,140,140
Note payable 825,152 884,221
Current portion of long-term debt 3,131,243 1,008,215
Current portion of lease liabilities 534,390 490,247
Unearned revenue 2,455,386 2,776,919
Grapes payable 654,832
Total current liabilities 12,345,660 14,467,920
Long-term debt, net of current portion and debt issuance costs 11,405,832 14,017,343
Lease liabilities, net of current portion 10,599,941 10,881,501
Deferred income taxes 2,180,660 2,180,660
Total liabilities 36,532,093 41,547,424
SHAREHOLDERS’ EQUITY    
Redeemable preferred stock, no par value, 100,000,000 shares authorized, 11,019,872 shares issued and outstanding, liquidation preference $46,944,611, at June 30, 2026 and 10,239,573 shares issued and outstanding, liquidation preference $42,494,228, at December 31, 2025. 46,712,125 43,357,396
Common stock, no par value, 10,000,000 shares authorized, 4,979,529 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively. 8,679,631 8,637,560
Retained earnings 11,026,128 14,193,219
Total shareholders' equity 66,417,884 66,188,175
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 102,949,977 $ 107,735,599