DEFERRED REVENUE

6 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

DEFERRED REVENUE

9. DEFERRED REVENUE

Deferred revenue is comprised of the following:

	June 30, 2022		December 31, 2021
Real estate lot sales deposits	$	1,164,951	$	622,453
Hotel deposits		67,080		91,163
Leased property deposit		5,351		-
Total	$	1,237,382	$	713,616

The Company accepts deposits in conjunction with agreements to sell real estate building lots at Algodon Wine Estates in the Mendoza wine region of Argentina. These lot sale deposits are generally denominated in U.S. dollars. The Company executed new agreements for the sale of five additional lots during the six months ended June 30, 2022 and recorded deferred revenues in the amount of $546,186. This increase in deferred revenues is partially offset by the impact of the change in exchange rates during the period. Revenue is recorded when the sale closes, and the deeds are issued.

GAUCHO GROUP HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)