NOTE 11: RELATED PARTY TRANSACATIONS |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Notes | |
| NOTE 11: RELATED PARTY TRANSACATIONS | NOTE 11: RELATED PARTY TRANSACTIONS
As of June 30, 2026 and December 31, 2025, amounts due to related parties were approximately $666,140 and $666,140, respectively. These balances included $428,700 due to CSIS and a $165,000 capital contribution made by Peter Weitz, a shareholder of the Company, on behalf of J Street Capital Partners LLC in the joint venture, Interstice Cellars LLC. The advances are unsecured, non-interest-bearing, and due on demand.
During the year ended December 31, 2025, Ranco LLC purchased products aggregating approximately $17.3 million from AGP Holdings LLC, an entity wholly owned by Allen Park, the Company’s former Chief Operating Officer and Controller, on arm’s length terms. These transactions are included in discontinued operations. On October 1, 2025, the arrangement was terminated by the Company. There were no purchases from AGP Holdings LLC during the three and six months ended June 30, 2026.
Prestige was acquired from Thomas Hinde, who serves as a consultant to the Company under a winemaking services arrangement entered into in connection with the Prestige acquisition. Amounts payable to Mr. Hinde under the consulting arrangement were not material at June 30, 2026.
On May 20, 2026, the Company issued ten-year warrants to purchase up to 500,000 shares of common stock at an exercise price of $0.50 per share to each of Brian Ross, the Company's President and Chief Executive Officer and a director, and Mario Marsillo Jr., the Company's Chief Business Officer and a director, in consideration of each executive officer's and director's services to the Company and in connection with their continuing deferral of compensation. See Note 8. |