$WVVI

WILLAMETTE VALLEY VINEYARDS INC

CIK:0000838875|SEC Filings

CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
SALES, NET	$ 10,036,275	$ 10,195,763	$ 18,292,428	$ 17,737,346
COST OF SALES	4,262,550	3,979,145	7,489,639	6,761,620
GROSS PROFIT	5,773,725	6,216,618	10,802,789	10,975,726
OPERATING EXPENSES
Sales and marketing	4,423,814	4,193,635	8,507,658	8,161,345
General and administrative	2,703,880	1,624,819	4,326,894	3,286,195
Total operating expenses	7,127,694	5,818,454	12,834,552	11,447,540
INCOME (LOSS) FROM OPERATIONS	(1,353,969)	398,164	(2,031,763)	(471,814)
OTHER INCOME (EXPENSE)
Interest expense, net	(267,994)	(270,145)	(555,307)	(568,366)
Other income, net	2,550	2,550	209,170	145,026
INCOME (LOSS) BEFORE INCOME TAXES	(1,619,413)	130,569	(2,377,900)	(895,154)
INCOME TAX (EXPENSE) BENEFIT	229,537	(37,774)	422,952	258,968
NET INCOME (LOSS)	(1,389,876)	92,795	(1,954,948)	(636,186)
Accrued preferred stock dividends	(606,071)	(563,176)	(1,212,142)	(1,126,353)
LOSS APPLICABLE TO COMMON SHAREHOLDERS	$ (1,995,947)	$ (470,381)	$ (3,167,090)	$ (1,762,539)
Loss per common share after preferred dividends, basic and diluted	$ (0.40)	$ (0.09)	$ (0.64)	$ (0.36)
Earnings Per Share, Diluted	$ (0.40)	$ (0.09)	$ (0.64)	$ (0.36)
Weighted-average number of common shares outstanding, basic and diluted	4,979,529	4,964,529	4,979,529	4,964,529
Weighted Average Number of Shares Outstanding, Diluted	4,979,529	4,964,529	4,979,529	4,964,529

CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (1,954,948)	$ (636,186)
Adjustments to reconcile net loss to net cash from operating activities:
Depreciation and amortization	1,600,284	1,632,833
Provision for credit losses	1,086,557
Common stock compensation expense	42,070
Non-cash lease expense	301,294	331,417
Debt issuance costs	9,495	10,575
Change in operating assets and liabilities:
Accounts receivable	617,600	935,992
Inventories	1,862,795	(39,106)
Prepaid expenses and other current assets	58,735	95,181
Income taxes receivable	(438,779)	(303,968)
Unearned revenue	(321,533)	(309,425)
Lease liabilities	(237,417)	(246,532)
Grapes payable	(654,832)	(1,519,087)
Accounts payable	805,938	370,959
Accrued expenses	(31,860)	(350,421)
Net cash from operating activities	2,745,399	(27,768)
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to vineyard development costs	(45,855)	(43,229)
Additions to property and equipment	(78,393)	(166,304)
Net cash from investing activities	(124,248)	(209,533)
CASH FLOWS FROM FINANCING ACTIVITIES
Payment on installment note for property purchase	(59,069)	(55,654)
Proceeds from (payments on) bank overdraft	534,488	(259,496)
Payments on line of credit, net	(2,505,298)	(1,958,933)
Payments on long-term debt	(497,979)	(470,553)
Proceeds from long-term debt		3,011,697
Proceeds from issuance of preferred stock	85,323
Net cash from financing activities	(2,442,535)	267,061
NET CHANGE IN CASH AND CASH EQUIVALENTS	178,616	29,760
CASH AND CASH EQUIVALENTS, beginning of period	410,886	320,883
CASH AND CASH EQUIVALENTS, end of period	589,502	350,643
NON-CASH INVESTING AND FINANCING ACTIVITIES
Purchases of property and equipment and vineyard development costs included in accounts payable		6,999
Reduction in investor deposits for preferred stock	2,057,265
Accrued preferred stock dividends	$ 1,212,142	$ 1,126,353

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