NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Inventory (Policies) |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Policies | |
| Inventory | Inventory
The Company’s inventory from continuing operations consists of wine and related products acquired pursuant to the Prestige acquisition, and the Interstice Cellars joint venture. Inventory includes finished goods (bottled wine and case goods) and work-in-progress (bulk wine in various stages of production being procured from third-party vendors by Prestige). The inventory is valued at the lower of cost (specific identification) or estimated net realizable value. As of March 31, 2026, inventory from continuing operations was $111,490, which pertained to work-in-progress wine inventory that Prestige is procuring from vendors. During the three months ended March 31, 2026, the Company recorded a write-off of $413,250 to fully impair the remaining J Street inventory, as the Company determined that the carrying value was no longer recoverable. The write-off was charged to selling, general and administrative expenses and is reflected as a non-cash adjustment within operating activities in the condensed consolidated statements of cash flows. As of March 31, 2026, all inventory from continuing operations pertained to wine inventory held by Prestige and Interstice. |