WILLAMETTE VALLEY VINEYARDS INC
For the period ended Dec 31, 2023. Filed Mar 26, 2024.
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FY2023 · Filed Mar 26, 2024
WVVI$1.72+1.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Statements of Cash Flows
| Year ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net loss | $(1,198,593) | $(646,492) |
| Adjustments to reconcile net loss to net cash from operating activities: | ||
| Depreciation and amortization | 3,426,977 | 2,315,901 |
| Non-cash lease expense | 1,142,833 | 615,690 |
| Loan fee amortization | 13,248 | 13,246 |
| Deferred income taxes | (528,859) | (156,030) |
| Change in operating assets and liabilities: | ||
| Accounts receivable | 1,232,119 | (1,063,573) |
| Inventories | (6,113,280) | (3,124,749) |
| Prepaid expenses and other current assets | (68,769) | (154,624) |
| Income tax receivable | 435,265 | (418,238) |
| Unearned revenue | (704,673) | (573,956) |
| Lease liabilities | (1,097,192) | (383,189) |
| Grapes payable | 1,237,560 | (179,928) |
| Accounts payable | 180,640 | 818,157 |
| Accrued expenses | 53,874 | 271,557 |
| Net cash from operating activities | (1,988,850) | (2,666,228) |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Additions to vineyard development costs | (419,023) | (670,257) |
| Additions to property and equipment | (4,307,947) | (14,809,417) |
| Net cash from investing activities | (4,726,970) | (15,479,674) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds from investor deposits held as liability | 718,857 | 147,511 |
| Payment on installment note for property purchase | (100,303) | (94,503) |
| Proceeds from bank overdraft | 393,416 | - |
| Proceeds from line of credit | 2,518,365 | 166,617 |
| Payment on long-term debt | (496,944) | (472,442) |
| Proceeds from long-term debt | 1,024,949 | 2,000,000 |
| Proceeds from issuance of preferred stock | 3,371,450 | 3,778,461 |
| Payment of preferred stock dividend | (814,164) | (788,351) |
| Net cash provided by financing activities | 6,615,626 | 4,737,293 |
| NET CHANGE IN CASH AND CASH EQUIVALENTS | (100,194) | (13,408,609) |
| CASH AND CASH EQUIVALENTS, beginning of year | 338,676 | 13,747,285 |
| CASH AND CASH EQUIVALENTS, end of year | $238,482 | $338,676 |
| NON-CASH INVESTING AND FINANCING ACTIVITIES | ||
| Purchases of property and equipment and vineyard development costs included in accounts payable | $68,855 | $1,291,029 |
| Reduction in investor deposits for preferred stock | $147,511 | $4,134,422 |
| Gift cards given in lieu of cash dividends | $1,232,933 | $1,078,100 |
| Right of use assets obtained in exchange for operating lease liabilities | $3,674,710 | $3,369,363 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid during the year for: | ||
| Interest paid | $595,109 | $368,691 |
| Income tax paid (received) | $(394,268) | $417,686 |
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