Fresh Vine Wine (VINE) 10-Q 14 Aug 23 2023 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Aug. 14, 2023
Document Information Line Items
Entity Registrant Name	Fresh Vine Wine, Inc.
Trading Symbol	VINE
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		15,976,227
Amendment Flag	false
Entity Central Index Key	0001880343
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-41147
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	87-3905007
Entity Address, Address Line One	11500 Wayzata Blvd.
Entity Address, Address Line Two	#1147
Entity Address, City or Town	Minnetonka
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55305
City Area Code	(855)
Local Phone Number	766-9463
Title of 12(b) Security	Common stock, $0.001 par value
Security Exchange Name	NYSEAMER
Entity Interactive Data Current	Yes

BALANCE SHEETS (Unaudited)

BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Current assets
Cash	$ 476,729	$ 2,080,335
Accounts receivable	133,341	259,317
Due from employees, net		37,733
Insurance recovery receivable		804,907
Inventories	1,496,007	3,696,198
Deferred offering costs		68,286
Prepaid expenses and other	1,192,356	961,211
Total current assets	3,298,433	7,907,987
Prepaid expenses (long term)	521,668	678,167
Total Assets	3,820,101	8,586,154
Current liabilities
Accounts payable	673,531	589,204
Accrued compensation		420,413
Settlement payable		1,250,000
Accrued expenses	566,218	422,931
Accrued expenses - related parties	220,000	280,000
Deferred revenue	1,289	10,000
Total current liabilities	1,461,038	2,972,548
Total Liabilities	1,461,038	2,972,548
Stockholders’ Equity
Preferred stock, $0.001 par value - 25,000,000 shares authorized at June 30, 2023 and December 31, 2022; 0 shares issued and outstanding at June 30, 2023 and December 31, 2022
Common stock, $0.001 par value - 100,000,000 shares authorized at June 30, 2023 and December 31, 2022; 17,017,558 and 12,732,257 shares issued and outstanding at June 30, 2023 and December 31, 2022 respectively	17,017	12,732
Additional paid-in capital	24,595,025	21,420,732
Accumulated deficit	(22,252,979)	(15,819,858)
Total Stockholder’s Equity	2,359,063	5,613,606
Total Liabilities and Stockholders’ Equity	$ 3,820,101	$ 8,586,154

BALANCE SHEETS (Unaudited) (Par

BALANCE SHEETS (Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	17,017,558	12,732,257
Common stock, shares outstanding	17,017,558	12,732,257

STATEMENTS OF OPERATIONS (Unaud

STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Wholesale revenue	$ 159,232	$ 657,927	$ 447,606	$ 1,187,767
Direct to consumer revenue	170,893	215,110	291,149	463,511
Related party service revenue		146,340		297,224
Total Net Revenue	330,125	1,019,377	738,755	1,948,502
Cost of revenues	2,329,655	836,052	2,741,647	1,448,104
Gross profit (loss)	(1,999,530)	183,325	(2,002,892)	500,398
Selling, general and administrative expenses	1,970,380	4,050,066	3,643,145	6,755,264
Equity-based compensation	452,427	697,638	788,350	2,600,224
Operating Loss	(4,422,337)	(4,564,379)	(6,434,387)	(8,855,090)
Other income	40	5,489	1,266	9,957
Net Loss	$ (4,422,297)	$ (4,558,890)	$ (6,433,121)	$ (8,845,133)
Weighted Average Shares Outstanding
Basic (in Shares)	16,606,442	12,534,045	14,983,854	12,417,763
Diluted (in Shares)	16,606,442	12,534,045	14,983,854	12,417,763
Net Loss per Share - Basic (in Dollars per share)	$ (0.27)	$ (0.36)	$ (0.43)	$ (0.71)
Net Loss per Share - Diluted (in Dollars per share)	$ (0.27)	$ (0.36)	$ (0.43)	$ (0.71)

STATEMENTS OF CHANGES IN STOCKH

STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (Unaudited) - USD ($)	Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2021		$ 12,200	$ 17,681,141	$ (617,351)	$ 17,075,990
Balance (in Shares) at Dec. 31, 2021		12,200,013
Equity-based compensation		$ 285	1,824,049		1,824,334
Equity-based compensation (in Shares)		285,184
Net income (loss)				(4,286,243)	(4,286,243)
Balances at Mar. 31, 2022		$ 12,485	19,505,190	(4,903,594)	14,614,081
Balances (in Shares) at Mar. 31, 2022		12,485,197
Balance at Dec. 31, 2021		$ 12,200	17,681,141	(617,351)	17,075,990
Balance (in Shares) at Dec. 31, 2021		12,200,013
Net income (loss)					(8,845,133)
Balances at Jun. 30, 2022		$ 12,732	20,124,333	(9,462,484)	10,674,581
Balances (in Shares) at Jun. 30, 2022		12,732,257
Balance at Mar. 31, 2022		$ 12,485	19,505,190	(4,903,594)	14,614,081
Balance (in Shares) at Mar. 31, 2022		12,485,197
Equity-based compensation		$ 247	619,143	0	619,390
Equity-based compensation (in Shares)		247,060
Net income (loss)				(4,558,890)	(4,558,890)
Balances at Jun. 30, 2022		$ 12,732	20,124,333	(9,462,484)	10,674,581
Balances (in Shares) at Jun. 30, 2022		12,732,257
Balance at Dec. 31, 2022		$ 12,732	21,420,732	(15,819,858)	5,613,606
Balance (in Shares) at Dec. 31, 2022		12,732,257
Rights Offering - common stock and warrants issued		$ 3,144	2,543,584		2,546,728
Rights Offering - common stock and warrants issued (in Shares)		3,149,969
Equity-based compensation		$ 500	257,172		257,672
Equity-based compensation (in Shares)		500,000
Stock Forfeiture		$ (500)	500
Stock Forfeiture (in Shares)		(500,000)
Net income (loss)				(2,010,824)	(2,010,824)
Balances at Mar. 31, 2023		$ 15,876	24,221,988	(17,830,682)	6,407,182
Balances (in Shares) at Mar. 31, 2023		15,876,226
Balance at Dec. 31, 2022		$ 12,732	21,420,732	(15,819,858)	5,613,606
Balance (in Shares) at Dec. 31, 2022		12,732,257
Net income (loss)					(6,433,121)
Balances at Jun. 30, 2023		$ 17,017	24,595,025	(22,252,979)	2,359,063
Balances (in Shares) at Jun. 30, 2023		17,017,558
Balance at Mar. 31, 2023		$ 15,876	24,221,988	(17,830,682)	6,407,182
Balance (in Shares) at Mar. 31, 2023		15,876,226
Equity-based compensation		$ 1,141	373,037		374,178
Equity-based compensation (in Shares)		1,141,332
Net income (loss)				(4,422,297)	(4,422,297)
Balances at Jun. 30, 2023		$ 17,017	$ 24,595,025	$ (22,252,979)	$ 2,359,063
Balances (in Shares) at Jun. 30, 2023		17,017,558

STATEMENTS OF CASH FLOWS (Unaud

STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash Flows from Operating Activities
Net loss	$ (6,433,121)	$ (8,845,133)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization		3,990
Equity-based compensation	788,350	2,600,224
Inventory write-down	1,732,500
Allowance for doubtful accounts	37,733
Changes in operating assets and liabilities
Accounts receivable	125,975	(548,600)
Insurance recovery receivable	804,907
Accounts receivable - related parties		(492,409)
Receivables with recourse		146,314
Related party receivables		(3,413)
Inventories	467,691	(3,610,687)
Prepaid expenses and other	(231,145)	(361,559)
Accounts payable	84,327	54,120
Accrued compensation	(420,413)	316,815
Settlement Payable	(1,250,000)
Accrued expenses	143,287	392,837
Accrued expenses - related parties	(60,000)	(209,617)
Deferred revenue	(8,711)	(547)
Related party payables		109,392
Net cash used in operating activities	(4,218,620)	(10,448,273)
Cash Flows from Financing Activities
Payments of related party notes payable		(216,000)
Payments of outstanding secured borrowings		(171,069)
Proceeds from rights offering - net of issuance costs	2,615,014
Net cash provided by (used in) financing activities	2,615,014	(387,069)
Net (Decrease) in Cash	(1,603,606)	(10,835,342)
Cash - Beginning of Year	2,080,335	16,063,941
Cash - End of Year	$ 476,729	$ 5,228,599

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Business Fresh Vine Wine, Inc. (the Company), a Nevada corporation, is a premium wine brand built to complement consumers’ healthy and active lifestyles. The Company provides a competitively priced premium product that is blended to deliver several important benefits, such as low-cal, low-sugar, low-carb. The Company’s wines are also gluten-free and keto and vegan friendly. The Company’s revenue is comprised primarily of wholesale and direct to consumer (DTC) sales, and representation and distribution services. Wholesale revenue is generated through sales to distributors located in states throughout the United States of America and Puerto Rico. DTC revenue is generated from individuals purchasing wine directly from the Company through club membership and the Company’s website. Representation and distribution service revenue is generated by providing third party wine producers with access to new markets and distribution channels. Basis of Presentation The Company’s financial statements have been prepared and are presented in accordance with United States generally accepted accounting principles (“U.S. GAAP”). The financial statements include, in the opinion of the management, all adjustments, consisting of normal and recurring items, necessary for the fair presentation of the financial statements. In certain instances, amounts reported in prior period financial statements have been reclassified to conform to the current financial statement presentation. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These financial statements should be read in conjunction with the Company’s financial Statements and notes thereto for the fiscal year ended December 31, 2022, included in the Company’s Annual Report on Form 10-K. Accounting Estimates Management uses estimates and assumptions in preparing these financial statements in accordance with U.S. GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include contingent liabilities, allowance for doubtful accounts, inventory allowances, equity-based compensation for employees and non-employees, and the valuation of deferred tax assets. Application of New or Revised Accounting Standards Pursuant to the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), a company constituting an “emerging growth company” is, among other things, entitled to rely upon certain reduced reporting requirements and is eligible to take advantage of an extended transition period to comply with new or revised accounting standards applicable to public companies. The Company is an emerging growth company and has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that the Company (i) is no longer an emerging growth company or (ii) affirmatively and irrevocable opts out of the extended transition period provide in the JOBS Act. Going Concern and Liquidity Historically, the Company has incurred losses, which has resulted in an accumulated deficit of approximately $22.3 million as of June 30, 2023. Cash flows used in operating activities were $4.2 million and $10.4 million for the six months ended June 30, 2023 and 2022, respectively. As of June 30, 2023, the Company had approximately a $1.8 million of working capital, inclusive of $477,000 in cash and cash equivalents. The Company’s ability to continue as a going concern is dependent on its ability to meet its liquidity needs through a combination of factors including but not limited to, cash and cash equivalents, working capital and strategic capital raises. The ultimate success of these plans is not guaranteed. In considering our forecast for the next twelve months and the current cash and working capital as of the filing of this Form 10-Q, such matters create a substantial doubt regarding the Company’s ability to meet our financial needs and continue as a going concern. As discussed in Note 13 Subsequent Events, in August of 2023, the Company received gross proceeds of $400,000 from a preferred stock offering of up to $1.0 million. In addition, the company has reduced its workforce to two full time employees and has taken steps to generate some cash from selective liquidation of some of its inventory. The Company will need to seek additional debt or equity financing to sustain existing operations. If adequate financing is not available, the Company will be forced to take measures to severely reduce our expenses and business operations, or discontinue them completely. Such financing, if available, may be dilutive. At the current reduced pace of incurring expenses and without receipt of additional financing (but assuming the receipt of funds upon the Second Closing and the Option Closing under the Securities Purchase Agreement (as such terms are defined in Note 13 – Subsequent Events) and the receipt of proceeds from the expected sales of inventory under purchase orders from a discount retailer entered into in the third quarter, the Company projects that the existing cash balance will be sufficient to fund current operations into the fourth quarter of 2023, after which additional financing or capital will be needed to satisfy obligations. Additional financing may not be available on favorable terms or at all. If additional financing is available, it may be highly dilutive to existing shareholders and may otherwise include burdensome or onerous terms. The Company’s inability to raise additional working capital in a timely manner would negatively impact the ability to fund operations, generate revenues, maintain or grow the business and otherwise execute the Company’s business plan, leading to the reduction or suspension of operations and ultimately potentially ceasing operations altogether and initiating bankruptcy proceedings. Should this occur, the value of any investment in the Company’s securities would be adversely affected. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments–Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments,

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2023
Revenue Recognition [Abstract]
REVENUE RECOGNITION	2. REVENUE RECOGNITION The Company’s total revenue reflects the sale of wine domestically in the U.S. to wholesale distributors or DTC and related party service revenues. Under ASC Topic 606, Revenue from Contracts with Customers The Company also generates revenue through membership in its wine club. Wine club members pay a monthly fee, which varies depending on level of membership, and are entitled to receive quarterly shipments of wine, free shipping, and discounts on other wine and merchandise purchased. The Company recognizes revenue for the monthly membership dues when the product is delivered. Any membership dues received before the product is delivered is recorded as deferred revenue on the Company’s balance sheet. The Company has determined that related party service revenue should be recognized over the period of time it provides such services. ASC 606 also notes that when another party is involved in providing goods or services to a customer, the entity should determine whether the nature of its promise is a performance obligation to provide the specified goods or services itself (that is, the entity is a principal) or to arrange for those goods or services to be provided by the other party (that is, the entity is an agent). The Company does not bear responsibility for inventory losses and does not have pricing determination; therefore, the Company would be considered the agent and revenue should be recognized as net sales. The following table presents the percentages of total revenue disaggregated by sales channels for the three and six month periods ended June 30, 2023 and 2022: Three months ended Six months ended June 30, June 30, June 30, June 30, 2023 2022 2023 2022 Wholesale 48.2 % 64.5 % 60.6 % 61 % Direct to consumer 51.8 % 21.1 % 39.4 % 24 % Related party service 0.0 % 14.4 % 0.0 % 15 % Total revenue 100.0 % 100 % 100.0 % 100 %

Loss Per Share

Loss Per Share	6 Months Ended
	Jun. 30, 2023
Loss Per Share [Abstract]
LOSS PER SHARE	3. LOSS PER SHARE Basic net loss per share is determined by dividing net loss attributable to shareholders by the weighted-average shares outstanding during the period. Diluted EPS reflects potential dilution and is computed by dividing net loss by the weighted average number of common shares outstanding during the period increased by the numbers of additional common shares that would have been outstanding if all potential common shares had been issued and were dilutive. However, potentially dilutive securities are excluded from the computation of diluted EPS to the extent that their effect is anti-dilutive. The following table presents a reconciliation between basic and diluted net loss per share for the three and six month periods ending: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2023 2022 2023 2022 Numerator: Net loss attributable to Fresh Vine Wine shareholders $ (4,422,297 ) $ (4,458,890 ) $ (6,433,121 ) $ (8,845,133 ) Denominator: Basic – weighted shares outstanding 16,606,442 12,534,045 14,983,854 12,417,763 Dilutive effect from shares authorized - - - - Diluted – weighted shares outstanding 16,606,442 12,534,045 14,983,854 12,417,763 Basic loss per share attributable to Fresh Vine Wine shareholders: $ (0.27 ) $ (0.36 ) $ (0.43 ) $ (0.71 ) Diluted loss per share attributable to Fresh Vine Wine shareholders: $ (0.27 ) $ (0.36 ) $ (0.43 ) $ (0.71 ) At June 30, 2023 and 2022, 4,826,446 and 1,888,336 shares have been excluded from the calculation of diluted weighted average shares outstanding as the inclusion of these shares would have an anti-dilutive effect.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2023
Inventories [Abstract]
INVENTORIES	4. INVENTORIES Inventories primarily include bottled wine which is carried at the lower cost (calculated using the average cost method) or net realizable value. Inventories consist of the following at: June 30, December 31, Inventory – finished goods $ 1,496,007 $ 3,683,159 Inventory – merchandise - 13,039 Total $ 1,496,007 $ 3,696,198

Prepaid Expenses and Other Asse

Prepaid Expenses and Other Assets	6 Months Ended
	Jun. 30, 2023
Prepaid Expenses and Other Assets [Abstract]
PREPAID EXPENSES AND OTHER ASSETS	5. PREPAID EXPENSES AND OTHER ASSETS Prepaid expenses and other assets consist of the following at: June 30, December 31, Prepaid marketing expenses – current $ 313,000 $ 313,000 Prepaid marketing expenses – long-term 521,668 678,167 Inventory deposits 293,824 569,377 Other prepaid expenses 585,532 78,834 Total $ 1,714,024 $ 1,639,378

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2023
Accrued Expenses [Abstract]
ACCRUED EXPENSES	6. ACCRUED EXPENSES Accrued expenses consist of the following at: June 30, December 31, 2023 2022 Sponsorship agreements $ 411,157 $ 234,494 Accrued credit card charges - 21,013 General trade payable accruals 134,433 107,424 Other accrued expenses 20,628 60,000 Total $ 566,218 $ 422,931 The sponsorship agreements relate to marketing contracts with unrelated parties within the sports and entertainment industry. The terms of the agreements range from two to four years with annual payments range from $103,000 to $216,000 per agreement. The total expense relating to these agreements for the three and six month periods ended June 30, 2023 was $123,998 and $176,662, respectively. The total expense relating to these agreements for the three and six month periods ended June 30, 2022 was $184,720 and $366,158, respectively. Accrued credit card charges primarily consist of warehouse, shipping and other operating costs paid via a Company credit card as a tool for managing cashflow.

Stockholders Equity

Stockholders Equity	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
STOCKHOLDERS EQUITY	7. STOCKHOLDERS EQUITY Rights offering During the first quarter of 2023, the Company distributed, at no charge to holders of the Company’s common stock, non-transferable subscription rights to purchase up to an aggregate of 6,366,129 Units. Each Unit consisted of one share of our common stock and a Warrant to purchase one share of our common stock. The Warrants were exercisable immediately, expire five years from the date of issuance and have an exercise price of $1.25 per share. For each share of common stock held by a stockholder of the Company on February 22, 2023, the record date of the Rights Offering, such stockholder received 0.5 subscription rights. Each whole subscription right allowed the holder thereof to subscribe to purchase one Unit, which we refer to as the basic subscription right, at a subscription price of $1.00 per Unit. In addition, any holder of subscription rights exercising his, her or its basic subscription right in full was eligible to subscribe to purchase additional Units that remained unsubscribed in the Rights Offering at the same subscription price per Unit that applied to the basic subscription right, subject to proration among participants exercising their over-subscription privilege, which we refer to as the over-subscription privilege. Upon the closing of the Rights Offering, which occurred on March 14, 2023, we issued 3,143,969 shares of common stock and 3,143,969 warrants and received aggregate gross cash proceeds of approximately $3.14 million. After deducting dealer-manager fees and other fees and expenses related to the Rights Offering, we received net proceeds of approximately $2.6 million. If exercised, additional gross proceeds of up to approximately $3.93 million may be received through the exercise of warrants issued in the Rights Offering.

Equity Based Compensation

Equity Based Compensation	6 Months Ended
	Jun. 30, 2023
Equity-Based Compensation [Abstract]
EQUITY BASED COMPENSATION	8. EQUITY BASED COMPENSATION As of June 30, 2023, there was $834,668 of unrecognized equity-based compensation expense recorded in prepaid expenses and other assets. The estimated expense for various marketing and advertising services in exchange for common stock, for the periods subsequent to June 30, 2023 is as follows: Advertising 2023 156,500 2024 313,000 2025 313,000 2026 52,168 $ 834,668 Restricted Stock Units On April 24, 2023 the Company granted 319,023 restricted stock units to its Chief Executive Officer. On May 11, 2023 the Company granted 170,958 restricted stock units to its Executive Vice President Sales and Marketing. On May 25, 2023, the Company granted 124,902 restricted stock units to its Chief Financial Officer. Restricted stock units represent the right to receive one share of common stock from the Company upon vesting. These restricted stock units had a vesting period that coincided with the company filing its Form 10-K for the year ended on December 31, 2023 and had a stipulation that each of the Executives attained performance objectives. Restricted stock unit activity for the six months ended June 30, 2023 was as follows: Weighted Average Remaining Contractual Number of Term RSUs (Years) Outstanding at December 31, 2022 - - Granted 614,883 0.9 Vested or released - - Forfeited - - Outstanding at June 30, 2023 614,883 0.7 Shares of Restricted Stock During the first quarter of 2023, 6,666 shares of restricted stock from previous periods were forfeited by employees that terminated their employment. There was a new grant of 500,000 shares of restricted stock which relates to the settlement reached with a previous employee, as further disclosed in Note 12. On April 24, 2023 the Company granted 463,917 restricted stock to its Chief Executive Officer. On May 11, 2023 the Company granted 380,952 restricted stock to its Executive Vice President Sales and Marketing. On May 25, 2023, the Company granted 196,463 restricted stock to its Chief Financial Officer. In addition, the Company Board of Directors were granted 100,000 shares of restricted stock. Stock compensation expense related to restricted stock issuances for the three and six month periods ended June 30, 2023 was $304,558 and $493,058, respectively. Stock compensation expense related to restricted stock for the three and six month periods ended June 30, 2022 was $675,339 and $2,277,136, respectively. Total unrecognized equity-based compensation expense is $116,441, net of known forfeitures, related to restricted stock as of June 30, 2023. Restricted stock activity during the six-month period ended June 30, 2023 was as follows: Weighted Average Number of Remaining Shares of Vesting Restricted Term Stock (Years) Outstanding at December 31, 2022 6,666 0.9 Granted 1,641,332 0.6 Vested or released (25,000 ) - Forfeited (6,666 ) - Outstanding at June 30, 2023 1,616,332 0.3 Vendor Stock Awards Vendor stock award activity subject to revenue-related performance conditions during the six-month period ended June 30, 2023 was as follows: Number of Weighted Outstanding at December 31, 2022 1,030,000 2.25 Granted - - Vested - - Expired - - Outstanding at June 30, 2023 1,030,000 1.75 For stock awards that contain revenue-related performance conditions, compensation cost is recognized in the period in which it becomes probable that the performance condition will be satisfied. During the second quarter of 2023, it has become not probable that the revenue-related performance will be achieved. Accordingly, the Company has reversed the $15,500 of expense recorded in the first quarter and has not booked any expense in the second quarter. Stock compensation expense related to vendor stock awards subject to revenue-related performance conditions totaled $0 and $0 for the six months ended June 30, 2023 and 2022, respectively. Stock Options Stock option activity as of and during the six-month period ended June 30, 2023 was as follows: Number of Weighted Weighted Outstanding at December 31, 2022 1,574,892 9.67 8.94 Granted 1,500,000 0.50 5.00 Exercised - - - Forfeited (3,333 ) 2.78 - Outstanding at June 30, 2023 3,071,559 5.20 6.72 Exercisable at June 30, 2023 71,559 3.03 9.17 Stock compensation expense related to options issued amounted to $138,791 and $173,242 for the six months ended June 30, 2023 and 2022 respectively. Total unrecognized equity-based compensation expense is $38,045, net of known forfeitures, related to stock options as of June 30, 2023. Warrants During the first half of 2023, no warrants from previous periods were exercised or forfeited. As described above, 3,143,969 warrants were granted as part of the Rights Offering, as disclosed in Note 7. Number of Weighted Weighted Outstanding at December 31, 2022 110,000 12.00 3.71 Granted 3,143,969 1.25 5.00 Exercised - - Forfeited - Outstanding at June 30, 2023 3,253,969 1.61 4.66 The Company uses the Black-Scholes option-pricing model to estimate the fair value of equity-based awards. The inputs for the Black-Scholes valuation model require management’s significant assumptions. Prior to the Company’s IPO, the price per share of common stock was determined by the Company’s board based on recent prices of common stock sold in private offerings. Subsequent to the IPO, the price per share of common stock is determined by using the closing market price on The NYSE American stock exchange on the grant date. The risk-free interest rates, ranging from 0.02% to 4.45%, are based on the rate for U.S. Treasury securities at the date of grant with maturity dates approximately equal to the expected life of the awards at the grant date. The expected term for employee and nonemployee awards ranged from 3 to 10 years based on industry data, vesting period, contractual period, among other factors. The expected volatility was estimated at 175% based on historical volatility information of peer companies that are publicly available in combination with the Company’s calculated volatility since being publicly traded. The Company does not expect to pay dividends. For awards with a performance condition, stock compensation is recognized over the requisite service period if it is probable that the performance condition will be satisfied.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax [Abstract]
INCOME TAXES	9. INCOME TAXES The Company has federal and state net operating loss carryforwards with a full valuation allowance against the deferred tax assets as of June 30, 2023. No income tax expense or benefit was recorded for the six month periods ended June 30, 2023 and 2022 due to the Company’s net loss position.

Supplier and Customer Concentra

Supplier and Customer Concentration	6 Months Ended
	Jun. 30, 2023
Supplier and Customer Concentration [Abstract]
SUPPLIER AND CUSTOMER CONCENTRATION	10. SUPPLIER AND CUSTOMER CONCENTRATION The Company has an agreement with an unrelated party for various wine making activities, including production, bottling, labeling, and packaging. The Company purchases finished goods through blanket sales orders that require a minimum 20% deposit. In addition to the purchases of finished goods, the Company pays certain storage, administrative fees and taxes related to the purchased goods. There is no specified term of the agreement but continues as additional blanket sales orders are issued. For the six month periods ended June 30, 2023 and 2022, substantially all of the Company’s inventory purchases were from this supplier. The Company also engages with other suppliers as needed for the purchase of a select varietal of wine to be offered in limited quantities. There are no formal agreements due to the infrequency of activity with these suppliers. A significant portion of the Company’s wholesale revenue comes from two national distributor customers that operate in several markets. For the three and six month periods ended June 30, 2023 and 2022, approximately 71% and 60% respectively of the Company’s wholesale revenue came from these two customers. As of June 30, 2023 and 2022, these customers accounted for approximately 58% and 69% respectively of accounts receivable.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	11. COMMITMENTS AND CONTINGENCIES During March 2021, the Company entered into two license agreements with the Class F partner investors for marketing and advertising services. The agreements require ongoing payments of $300,000 per agreement each year for an initial term of five years. Additionally, the agreements require the Company to reimburse out of pocket expenses related to promotion of the Company’s products. In November 2021, the agreements were amended to include, among other provisions, partners investor options to terminate the agreements if a $5 million EBITDA threshold is not met in either 2022 or 2023. The net expense relating to the agreements was $120,000 and $240,000 for the three and six month periods ended June 30, 2023. The net expense was $120,000 and $140,000 for the three and six month periods ended June 30, 2022. License Agreements The estimated expense related to the license agreements for the periods ending December 31 subsequent to June 30, 2023 is as follows: Advertising 2023 $ 240,000 2024 480,000 2025 480,000 2026 80,000 $ 1,280,000 Sponsorship Agreements The estimated expense for the sponsorship agreements as described in Note 6 for the periods ending December 31 subsequent to June 30, 2023 is as follows: Advertising 2023 $ 195,763 2024 160,147 $ 355,910

Legal Proceedings

Legal Proceedings	6 Months Ended
	Jun. 30, 2023
Legal Proceedings [Abstract]
LEGAL PROCEEDINGS	12. LEGAL PROCEEDINGS Timothy Michaels On February 24, 2022, Timothy Michaels, the former Chief Operating Officer of the Company, signed a Separation Agreement and Release (the “Separation Agreement”) in connection with the termination of his employment with the Company, which occurred on February 7, 2022. On May 27, 2022, Mr. Michaels filed a complaint against the Company in the Fourth Judicial District Court, Hennepin County, Minnesota, alleging that the Company breached the February 24, 2022 Separation Agreement by including a restricted “lock-up” legend on shares of the Company’s common stock issued to Mr. Michaels pursuant to the Settlement Agreement. The complaint also included counts alleging breach of the implied covenant of good faith and fair dealing, issuer liability under Minn. Stat. § 336.8-401 for delay in removing or directing the Company’s transfer agent to remove the lock-up legend from the shares, conversion and civil theft. The Company has denied the allegations and intends to vigorously defend against the lawsuit. The Company has made a motion seeking dismissal of the conversion and civil theft counts, which was granted by the Fourth Judicial District Court, Hennepin County, Minnesota on October 31, 2022. The action remains pending. Janelle Anderson Litigation Settlement and Related Founder Share Forfeitures The Company was a party to an action pending in Hennepin County District Court, captioned Janelle Anderson v. Fresh Vine Wine, Inc., Damian Novak, and Rick Nechio, Court File No. 27-CV-22-11491 (the “Lawsuit”), in which Ms. Anderson alleged, among other things, that the Company terminated her employment in retaliation for reports of alleged wrongdoing pursuant to the Minnesota Whistleblower Act. Defendants also included Damian Novak, former Executive Chairman and a former director of the Company, and Rick Nechio, former interim Chief Executive Officer and a director of the Company. The suit was dismissed on March 6, 2023, with prejudice. On January 27, 2023, the Company entered into a Global Mutual Compromise, Release and Settlement Agreement (the “Settlement Agreement”) among Ms. Anderson and each of Messrs. Novak and Nechio. Pursuant to the Settlement Agreement, Ms. Anderson agreed to dismiss the Lawsuit with prejudice and to file with the court any and all documents necessary to effect such dismissal with prejudice within five business days after all settlement consideration has been actually received by her, and the parties agreed to general mutual releases. The Company also agreed to indemnify Ms. Anderson and hold her harmless against any liability, civil damages, penalties, or fines claimed against her for any of her actions done within the course and scope of her employment with the Company as required by Minn. Stat. §181.970, and under any applicable insurance policies, including but not limited to any directors and officers policies. The Settlement Agreement also contains a non-disparagement provision. As consideration for Ms. Anderson’s dismissal and release, and provided that she does not revoke or rescind the Settlement Agreement within prescribed time periods, the Company agreed to make a cash payment to Ms. Anderson in the amount of $1,250,000, less certain attorney fees and relevant taxes and other withholdings, in a lump sum. The Company recouped approximately $805,000 of this cash payment from insurance coverage. The cash payment is in addition to the $400,000 that the Company previously paid to Ms. Anderson in January 2023 in respect of 2022 bonus compensation earned by Ms. Anderson under her employment agreement while employed by the Company. Also as contemplated by the Settlement Agreement, the Company and Ms. Anderson agreed to enter into a consulting agreement (the “Anderson Consulting Agreement”) pursuant to which Ms. Anderson would provide certain consulting services to the Company for a period of six months. As consideration for such services, the Company agreed to grant and issue to Ms. Anderson 500,000 shares of the Company’s common stock (the “Anderson Consulting Shares”) from the Company’s 2021 Equity Incentive Plan (the “Anderson Consulting Share Grant”). The cash payment and the Anderson Consulting Share Grant were scheduled to be made at the “closing” of the Settlement Agreement (the “Settlement Closing”), subject to Ms. Anderson not revoking or rescinding the Settlement Agreement during the applicable revocation period. The Settlement Closing was completed on February 20, 2023, with prejudice. No additional expense has been recorded during 2023 regarding this matter. Also pursuant to the Settlement Agreement, Damian Novak, former Executive Chairman and director, resigned as Executive Chairman and removed himself from his management duties with the Company effective February 20, 2023, and has resigned from our board of directors promptly following completion of the subscription rights offering on March 14, 2023. In addition, Rick Nechio, the Company’s former interim Chief Executive Officer and director, resigned from our board of directors effective February 20, 2023. In conjunction with entering into the Settlement Agreement, Rick Nechio and Damian Novak entered into Agreements to Forfeit Shares of Common Stock (the “Forfeiture Agreements”) pursuant to which each agreed to forfeit and transfer back to the Company without consideration 250,000 shares of common stock of the Company held by them (a total of 500,000 shares), to enable the Company to issue the Anderson Consulting Shares to Ms. Anderson without subjecting the Company’s other stockholders to dilution therefrom (the “Anderson Consulting-related Forfeitures”). The Anderson Consulting-related Forfeitures became effective in connection with the Settlement Closing.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	13. SUBSEQUENT EVENTS Management Change Effective July 19, 2023, the Board of Directors of the Company (the “Board”) appointed Michael Pruitt to serve as Interim Chief Executive Officer of the Company, succeeding Roger Cockroft. Series A Convertible Preferred Stock On August 2, 2023, the Company entered into a Securities Purchase Agreement (the “Securities Purchase Agreement”) with two accredited investors (the “Purchasers”) pursuant to which the Company agreed to issue and sell in a private placement (the “Offering”) shares of a newly created series of preferred stock designated as “Series A Convertible Preferred Stock” (the “Series A Stock”). Pursuant to the Securities Purchase Agreement, the Purchasers collectively agreed to purchase up to 10,000 shares of Series A Stock at a per share purchase price equal to $100.00 (the “Stated Value”), for total gross proceeds of up to $1.0 million. The Purchasers agreed to purchase 4,000 shares of Series A Stock for an aggregate purchase price of $400,000 at an initial closing of the Offering (the “Initial Closing”), which occurred on August 2, 2023. The Securities Purchase Agreement provides that the Company will issue and sell to the Purchasers, and the Purchasers will purchase, an additional 4,000 shares of Series A Stock at a second closing (the “Second Closing”) that is scheduled to occur within 30 days following the Initial Closing, subject to satisfaction of applicable closing conditions. Pursuant to the Securities Purchase Agreement, the Purchasers may elect, but are not required, to purchase an additional 2,000 shares of Series A Stock from the Company at a closing (the “Optional Closing”) within 60 days following the date of the Initial Closing. There is no guaranty the Second Closing or the Optional Closing will occur. Each share of Series A Stock is convertible, at any time and from time to time from and after the date of the Initial Closing at the option of the holder thereof, into the number of shares of common stock (“Conversion Shares”) calculated by dividing the Stated Value by a conversion price (the “Conversion Price”) of $0.10. However, if the Company’s common stock fails to continue to be listed or quoted for trading on a stock exchange, then the Conversion Price thereafter will mean the lesser of (i) $0.10, or (ii) the closing sale price of the common stock on the trading day immediately preceding the conversion date; provided that the Conversion Price shall not be less than $0.05 (the “Floor Price”). The Conversion Price is subject to standard adjustments based stock splits, stock dividends, stock combinations and the like, and the Floor Price is also subject to anti-dilution adjustments resulting from future offerings of common stock (or common stock equivalents) at a price less than the prevailing Conversion Price. The Series A Stock contains “blocker” provisions restricting the holders’ ability to exercise conversion rights if the issuance of Conversion Shares would result in such holder beneficially owning in excess of 4.99% of the Company’s common stock. In addition, a Series A Stock holder’s ability to convert Series A Stock to common stock will be subject to an “Exchange Share Cap” and an “Individual Holder Share Cap.” Under the Exchange Cap, the total number of shares of common stock issuable upon conversion of outstanding Preferred Shares, when added to any previously issued Dividend Shares (as defined below), may not exceed 19.9% of the Company’s issued and outstanding common stock immediately prior to the date on which shares of Series A Stock are first issued. Under the Individual Holder Share Cap, no holder of Series A Stock will have the right to acquire common stock upon conversion of the Series A Stock if the issuance of shares of common stock would result in converting holder beneficially owning in excess of 19.9% of the number of shares of common stock outstanding immediately after giving effect to the issuance. The Exchange Share Cap and the Individual Holder Share Cap will not apply if the Company obtains stockholder approval to issue the shares of common stock exceeding the applicable cap as required by the NYSE American LLC Company Guide. Each holder of a share of Series A Stock is entitled to receive dividends payable, subject to certain conditions, in cash or shares of common stock (“Dividend Shares”) valued as either (i) the then applicable Conversion Price, or (ii) 50% of the then current market price of the Company’s common stock, at the dividend rate of 12% per annum. Dividends are cumulative and will be payable on July 31st of each year. However, the Company may not pay dividends by issuing Dividend Shares if and to the extent that the issuance of such Dividend Shares, when added to all Conversion Shares previously issued upon prior conversions of Series A Stock and previously issued Dividend Shares (if any), would exceed the Exchange Share Cap or result in a Series A Stock holder beneficially owning shares of common stock in excess of the Individual Holder Share Cap, in each case unless the Company obtains stockholder approval for such issuances. The shares of Series A Stock will vote with the common stock as a single class on all matters submitted to a vote of stockholders of the Company other than any proposal to approve the issuance of shares of common stock in excess of the Exchange Share Cap or the Individual Holder Share Cap. The Preferred Shares will vote on an as-converted to common stock basis, taking into account the conversion limitations resulting from the Exchange Share Cap and the Individual Holder Share Cap, if and as applicable; however, solely for purposes of determining voting rights, the Conversion Price shall be equal to the most recent closing sale price of the Common Stock as of the execution and delivery of the Securities Purchase Agreement, which was $0.47. Upon any liquidation, dissolution or winding-up of the Company, whether voluntary or involuntary (a “Liquidation”), the Holders shall (i) first be entitled to receive out of the assets, whether capital or surplus, of the Company an amount equal to 150% times the Stated Value for each share of Series A Stock before any distribution or payment shall be made to the holders of any junior securities and (ii) then be entitled to participate in the distribution of remaining assets with the holders of common stock on an as-if-converted to common stock basis (disregarding for such purposes any conversion limitations). The Company may redeem (i) up to 75% of the issued and outstanding shares of Series A Stock for a price per share equal to 150% of the Stated Value thereof if such redemption occurs within six months from the date of issuance, and (ii) up to 50% of the issued and outstanding shares of Series A Stock for a price per share equal to 200% of the Stated Value thereof if such redemption occurs after six months but before the expiration of twelve months from the date of issuance. Other Events On August 8, 2023, the Company received written letters from each of Nina Dobrev and Jaybird Investments, LLC notifying the Company that it is in default of their respective license agreements based on failure to pay their August 2023 license fees (each, a “Notice”). Each Notice also stated that it serves as written notice of termination of the respective license agreements, effective 30 days from delivery of the Notice (the “Termination Date”), which shall occur without further action or notice if the Company’s payment of the applicable August license fee is not made prior to the Termination Date.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2023
Summary of Significant Accounting Policies [Abstract]
Nature of Business	Nature of Business Fresh Vine Wine, Inc. (the Company), a Nevada corporation, is a premium wine brand built to complement consumers’ healthy and active lifestyles. The Company provides a competitively priced premium product that is blended to deliver several important benefits, such as low-cal, low-sugar, low-carb. The Company’s wines are also gluten-free and keto and vegan friendly. The Company’s revenue is comprised primarily of wholesale and direct to consumer (DTC) sales, and representation and distribution services. Wholesale revenue is generated through sales to distributors located in states throughout the United States of America and Puerto Rico. DTC revenue is generated from individuals purchasing wine directly from the Company through club membership and the Company’s website. Representation and distribution service revenue is generated by providing third party wine producers with access to new markets and distribution channels.
Basis of Presentation	Basis of Presentation The Company’s financial statements have been prepared and are presented in accordance with United States generally accepted accounting principles (“U.S. GAAP”). The financial statements include, in the opinion of the management, all adjustments, consisting of normal and recurring items, necessary for the fair presentation of the financial statements. In certain instances, amounts reported in prior period financial statements have been reclassified to conform to the current financial statement presentation. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These financial statements should be read in conjunction with the Company’s financial Statements and notes thereto for the fiscal year ended December 31, 2022, included in the Company’s Annual Report on Form 10-K.
Accounting Estimates	Accounting Estimates Management uses estimates and assumptions in preparing these financial statements in accordance with U.S. GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include contingent liabilities, allowance for doubtful accounts, inventory allowances, equity-based compensation for employees and non-employees, and the valuation of deferred tax assets.
Application of New or Revised Accounting Standards	Application of New or Revised Accounting Standards Pursuant to the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), a company constituting an “emerging growth company” is, among other things, entitled to rely upon certain reduced reporting requirements and is eligible to take advantage of an extended transition period to comply with new or revised accounting standards applicable to public companies. The Company is an emerging growth company and has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that the Company (i) is no longer an emerging growth company or (ii) affirmatively and irrevocable opts out of the extended transition period provide in the JOBS Act.
Going Concern and Liquidity	Going Concern and Liquidity Historically, the Company has incurred losses, which has resulted in an accumulated deficit of approximately $22.3 million as of June 30, 2023. Cash flows used in operating activities were $4.2 million and $10.4 million for the six months ended June 30, 2023 and 2022, respectively. As of June 30, 2023, the Company had approximately a $1.8 million of working capital, inclusive of $477,000 in cash and cash equivalents. The Company’s ability to continue as a going concern is dependent on its ability to meet its liquidity needs through a combination of factors including but not limited to, cash and cash equivalents, working capital and strategic capital raises. The ultimate success of these plans is not guaranteed. In considering our forecast for the next twelve months and the current cash and working capital as of the filing of this Form 10-Q, such matters create a substantial doubt regarding the Company’s ability to meet our financial needs and continue as a going concern. As discussed in Note 13 Subsequent Events, in August of 2023, the Company received gross proceeds of $400,000 from a preferred stock offering of up to $1.0 million. In addition, the company has reduced its workforce to two full time employees and has taken steps to generate some cash from selective liquidation of some of its inventory. The Company will need to seek additional debt or equity financing to sustain existing operations. If adequate financing is not available, the Company will be forced to take measures to severely reduce our expenses and business operations, or discontinue them completely. Such financing, if available, may be dilutive. At the current reduced pace of incurring expenses and without receipt of additional financing (but assuming the receipt of funds upon the Second Closing and the Option Closing under the Securities Purchase Agreement (as such terms are defined in Note 13 – Subsequent Events) and the receipt of proceeds from the expected sales of inventory under purchase orders from a discount retailer entered into in the third quarter, the Company projects that the existing cash balance will be sufficient to fund current operations into the fourth quarter of 2023, after which additional financing or capital will be needed to satisfy obligations. Additional financing may not be available on favorable terms or at all. If additional financing is available, it may be highly dilutive to existing shareholders and may otherwise include burdensome or onerous terms. The Company’s inability to raise additional working capital in a timely manner would negatively impact the ability to fund operations, generate revenues, maintain or grow the business and otherwise execute the Company’s business plan, leading to the reduction or suspension of operations and ultimately potentially ceasing operations altogether and initiating bankruptcy proceedings. Should this occur, the value of any investment in the Company’s securities would be adversely affected. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments–Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments,

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue Recognition [Abstract]
Schedule of Table Presents the Percentages of Total Revenue Disaggregated	The following table presents the percentages of total revenue disaggregated by sales channels for the three and six month periods ended June 30, 2023 and 2022: Three months ended Six months ended June 30, June 30, June 30, June 30, 2023 2022 2023 2022 Wholesale 48.2 % 64.5 % 60.6 % 61 % Direct to consumer 51.8 % 21.1 % 39.4 % 24 % Related party service 0.0 % 14.4 % 0.0 % 15 % Total revenue 100.0 % 100 % 100.0 % 100 %

Loss Per Share (Tables)

Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Loss Per Share [Abstract]
Schedule of Basic and Diluted Net Loss Per Share	The following table presents a reconciliation between basic and diluted net loss per share for the three and six month periods ending: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2023 2022 2023 2022 Numerator: Net loss attributable to Fresh Vine Wine shareholders $ (4,422,297 ) $ (4,458,890 ) $ (6,433,121 ) $ (8,845,133 ) Denominator: Basic – weighted shares outstanding 16,606,442 12,534,045 14,983,854 12,417,763 Dilutive effect from shares authorized - - - - Diluted – weighted shares outstanding 16,606,442 12,534,045 14,983,854 12,417,763 Basic loss per share attributable to Fresh Vine Wine shareholders: $ (0.27 ) $ (0.36 ) $ (0.43 ) $ (0.71 ) Diluted loss per share attributable to Fresh Vine Wine shareholders: $ (0.27 ) $ (0.36 ) $ (0.43 ) $ (0.71 )

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2023
Inventories [Abstract]
Schedule of Inventories Consist	Inventories consist of the following at: June 30, December 31, Inventory – finished goods $ 1,496,007 $ 3,683,159 Inventory – merchandise - 13,039 Total $ 1,496,007 $ 3,696,198

Prepaid Expenses and Other As_2

Prepaid Expenses and Other Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Prepaid Expenses and Other Assets [Abstract]
Schedule of Prepaid Expenses and Other Assets	June 30, December 31, Prepaid marketing expenses – current $ 313,000 $ 313,000 Prepaid marketing expenses – long-term 521,668 678,167 Inventory deposits 293,824 569,377 Other prepaid expenses 585,532 78,834 Total $ 1,714,024 $ 1,639,378

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2023
Accrued Expenses [Abstract]
Schedule of Accrued Expenses	Accrued expenses consist of the following at: June 30, December 31, 2023 2022 Sponsorship agreements $ 411,157 $ 234,494 Accrued credit card charges - 21,013 General trade payable accruals 134,433 107,424 Other accrued expenses 20,628 60,000 Total $ 566,218 $ 422,931

Equity Based Compensation (Tabl

Equity Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Equity-Based Compensation [Abstract]
Schedule of Estimated Expense for Various Marketing and Advertising Services	The estimated expense for various marketing and advertising services in exchange for common stock, for the periods subsequent to June 30, 2023 is as follows: Advertising 2023 156,500 2024 313,000 2025 313,000 2026 52,168 $ 834,668
Schedule of Share of Restricted Stock	Restricted stock unit activity for the six months ended June 30, 2023 was as follows Weighted Average Remaining Contractual Number of Term RSUs (Years) Outstanding at December 31, 2022 - - Granted 614,883 0.9 Vested or released - - Forfeited - - Outstanding at June 30, 2023 614,883 0.7 Weighted Average Number of Remaining Shares of Vesting Restricted Term Stock (Years) Outstanding at December 31, 2022 6,666 0.9 Granted 1,641,332 0.6 Vested or released (25,000 ) - Forfeited (6,666 ) - Outstanding at June 30, 2023 1,616,332 0.3 Number of Weighted Outstanding at December 31, 2022 1,030,000 2.25 Granted - - Vested - - Expired - - Outstanding at June 30, 2023 1,030,000 1.75
Schedule of Stock Option Activity	Stock option activity as of and during the six-month period ended June 30, 2023 was as follows: Number of Weighted Weighted Outstanding at December 31, 2022 1,574,892 9.67 8.94 Granted 1,500,000 0.50 5.00 Exercised - - - Forfeited (3,333 ) 2.78 - Outstanding at June 30, 2023 3,071,559 5.20 6.72 Exercisable at June 30, 2023 71,559 3.03 9.17 Number of Weighted Weighted Outstanding at December 31, 2022 110,000 12.00 3.71 Granted 3,143,969 1.25 5.00 Exercised - - Forfeited - Outstanding at June 30, 2023 3,253,969 1.61 4.66

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies [Abstract]
Schedule of Estimated Expense	The estimated expense related to the license agreements for the periods ending December 31 subsequent to June 30, 2023 is as follows: Advertising 2023 $ 240,000 2024 480,000 2025 480,000 2026 80,000 $ 1,280,000 Advertising 2023 $ 195,763 2024 160,147 $ 355,910

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Details) - USD ($)		6 Months Ended
	Aug. 31, 2023	Jun. 30, 2023	Jun. 30, 2022
Summary of Significant Accounting Policies [Abstract]
Accumulated deficit		$ 22,300,000
Cash flows used in operating activities		4,200,000	$ 10,400,000
Working capital		1,800,000
Cash and cash equivalents		$ 477,000
Received amount	$ 400,000
Amount of preferred stock offering	$ 1,000,000

Revenue Recognition (Details) -

Revenue Recognition (Details) - Schedule of Table Presents the Percentages of Total Revenue Disaggregated	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue, Major Customer [Line Items]
Total revenue	100%	100%	100%	100%
Wholesale [Member]
Revenue, Major Customer [Line Items]
Total revenue	48.20%	64.50%	60.60%	61%
Direct to consumer [Member]
Revenue, Major Customer [Line Items]
Total revenue	51.80%	21.10%	39.40%	24%
Related party service [Member]
Revenue, Major Customer [Line Items]
Total revenue	0%	14.40%	0%	15%

Loss Per Share (Details)

Loss Per Share (Details) - shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Loss Per Share [Abstract]
Diluted weighted average shares outstanding	4,826,446	1,888,336

Loss Per Share (Details) - Sche

Loss Per Share (Details) - Schedule of Basic and Diluted Net Loss Per Share - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net loss attributable to Fresh Vine Wine shareholders (in Dollars)	$ (4,422,297)	$ (4,458,890)	$ (6,433,121)	$ (8,845,133)
Denominator:
Basic – weighted shares outstanding	16,606,442	12,534,045	14,983,854	12,417,763
Dilutive effect from shares authorized
Diluted – weighted shares outstanding	16,606,442	12,534,045	14,983,854	12,417,763
Basic loss per share attributable to Fresh Vine Wine shareholders: (in Dollars per share)	$ (0.27)	$ (0.36)	$ (0.43)	$ (0.71)
Diluted loss per share attributable to Fresh Vine Wine shareholders: (in Dollars per share)	$ (0.27)	$ (0.36)	$ (0.43)	$ (0.71)

Inventories (Details)

Inventories (Details) $ in Millions	Jun. 30, 2023 USD ($)
Inventories [Abstract]
Inventory write down net	$ 1.7

Inventories (Details) - Schedul

Inventories (Details) - Schedule of Inventories Consist - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Schedule of Inventories Consist [Abstract]
Inventory – finished goods	$ 1,496,007	$ 3,683,159
Inventory – merchandise		13,039
Total	$ 1,496,007	$ 3,696,198

Prepaid Expenses and Other As_3

Prepaid Expenses and Other Assets (Details) - Schedule of Prepaid Expenses and Other Assets - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Schedule of Prepaid Expenses and Other Assets [Abstract]
Prepaid marketing expenses – current	$ 313,000	$ 313,000
Prepaid marketing expenses – long-term	521,668	678,167
Inventory deposits	293,824	569,377
Other prepaid expenses	585,532	78,834
Total	$ 1,714,024	$ 1,639,378

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accrued Expenses [Line Items]
Expense relating to agreements	$ 123,998	$ 184,720	$ 176,662	$ 366,158
Minimum [Member]
Accrued Expenses [Line Items]
Agreements term			2 years
Payments for agreements			$ 103,000
Maximum [Member]
Accrued Expenses [Line Items]
Agreements term			4 years
Payments for agreements			$ 216,000

Accrued Expenses (Details) - Sc

Accrued Expenses (Details) - Schedule of Accrued Expenses - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Schedule of accrued expenses [Abstract]
Sponsorship agreements	$ 411,157	$ 234,494
Accrued credit card charges		21,013
General trade payable accruals	134,433	107,424
Other accrued expenses	20,628	60,000
Total	$ 566,218	$ 422,931

Stockholders Equity (Details)

Stockholders Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Feb. 22, 2023
Stockholders Equity [Line Items]
Subscription rights to purchase units		6,366,129
Warrants expiration	5 years
Warrants exercise price (in Dollars per share)	$ 1.25
Stockholder received subscription rights (in Dollars per share)			$ 0.5
Purchase of unit	1
Price per unit (in Dollars per share)	$ 1
Gross cash proceeds (in Dollars)	$ 3,140
Net proceeds received (in Dollars)	2,600
Additional gross proceeds (in Dollars)	$ 3,930
Common Stock [Member]
Stockholders Equity [Line Items]
Shares issued	1
Common Stock [Member] | Rights Offering [Member]
Stockholders Equity [Line Items]
Shares issued	3,143,969
Warrant [Member]
Stockholders Equity [Line Items]
Shares issued	1
Warrant [Member] | Rights Offering [Member]
Stockholders Equity [Line Items]
Shares issued	3,143,969

Equity Based Compensation (Deta

Equity Based Compensation (Details) - USD ($)				3 Months Ended		6 Months Ended
	May 25, 2023	May 11, 2023	Apr. 24, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Equity Based Compensation [Line Items]
Unrecognized equity-based compensation expense						$ 834,668
Employee Stock Ownership Plan (ESOP), Fair Value of Shares Subject to Repurchase Obligation		$ 196,463
Stock compensation expense						0	$ 0
Other expense				$ 120,000	$ 120,000	$ 240,000	140,000
Expected volatility						175%
Warrant [Member]
Equity Based Compensation [Line Items]
Share of warrants (in Shares)				3,143,969		3,143,969
Minimum [Member]
Equity Based Compensation [Line Items]
Risk-free interest rate						0.02%
Expected term						3 years
Maximum [Member]
Equity Based Compensation [Line Items]
Risk-free interest rate						4.45%
Expected term						10 years
Chief Executive Officer [Member]
Equity Based Compensation [Line Items]
Shares issued (in Shares)			463,917
Vice President [Member]
Equity Based Compensation [Line Items]
Shares issued (in Shares)		380,952
Restricted Stock Units (RSUs) [Member]
Equity Based Compensation [Line Items]
Shares issued (in Shares)	170,958	124,902	319,023
Shares of Restricted Stock [Member]
Equity Based Compensation [Line Items]
Shares issued (in Shares)						6,666
New shares granted (in Shares)						500,000
Stock compensation expense				$ 304,558	$ 675,339	$ 493,058	2,277,136
Equity-based compensation expense						$ 116,441
Shares of Restricted Stock [Member] | Board of Directors Chairman [Member]
Equity Based Compensation [Line Items]
Shares issued (in Shares)						100,000
Vendor Stock Awards [Member]
Equity Based Compensation [Line Items]
Other expense						$ 15,500
Stock Options [Member]
Equity Based Compensation [Line Items]
Stock compensation expense						138,791	$ 173,242
Equity-based compensation expense						$ 38,045

Equity Based Compensation (De_2

Equity Based Compensation (Details) - Schedule of Estimated Expense for Various Marketing and Advertising Services	Jun. 30, 2023 USD ($)
Advertising and Marketing Expense
2023	$ 156,500
2024	313,000
2025	313,000
2026	52,168
Advertising and marketing expense, total	$ 834,668

Equity Based Compensation (De_3

Equity Based Compensation (Details) - Schedule of Restricted Stock Activity	6 Months Ended
	Jun. 30, 2023 shares
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Shares, beginning balance
Weighted Average Remaining Term (Years), beginning balance
Granted	614,883
Granted	10 months 24 days
Vested or released
Vested or released
Forfeited
Forfeited
Number of Shares, ending balance	614,883
Weighted Average Remaining Term (Years), ending balance	8 months 12 days
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Shares, beginning balance	6,666
Weighted Average Remaining Term (Years), beginning balance	10 months 24 days
Granted	1,641,332
Granted	7 months 6 days
Vested or released	(25,000)
Vested or released
Forfeited	(6,666)
Forfeited
Number of Shares, ending balance	1,616,332
Weighted Average Remaining Term (Years), ending balance	3 months 18 days
Vendor Stock Awards [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Shares, beginning balance	1,030,000
Weighted Average Remaining Term (Years), beginning balance	2 years 3 months
Granted
Granted
Vested or released
Vested or released
Expired
Expired
Number of Shares, ending balance	1,030,000
Weighted Average Remaining Term (Years), ending balance	1 year 9 months

Equity Based Compensation (De_4

Equity Based Compensation (Details) - Schedule of Stock Option Activity	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Stock Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Oustanding, beginning (in Shares)	1,574,892
Weighted Average Exercise Price, beginning (in Dollars per share) | $ / shares	$ 9.67
Weighted Average Remaining Contract Term, beginning	8 years 11 months 8 days
Granted (in Shares)	1,500,000
Weighted Average Exercise Price, Granted (in Dollars per share) | $ / shares	$ 0.5
Weighted Average Remaining Contract Term, Granted	5 years
Exercised (in Shares)
Weighted Average Exercise Price, Exercised (in Dollars per share) | $ / shares
Weighted Average Remaining Contract Term, Exercised
Forfeited (in Shares)	(3,333)
Weighted Average Exercise Price, Forfeited (in Dollars per share) | $ / shares	$ 2.78
Weighted Average Remaining Contract Term, Forfeited
Ending balance (in Shares)	3,071,559
Weighted Average Exercise Price, ending (in Dollars per share) | $ / shares	$ 5.2
Weighted Average Remaining Contract Term, ending	6 years 8 months 19 days
Exercisable (in Shares)	71,559
Weighted Average Exercise Price, Exercisable (in Dollars per share) | $ / shares	$ 3.03
Weighted Average Remaining Contract Term, Exercisable	9 years 2 months 1 day
Warrant [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Oustanding, beginning (in Shares)	110,000
Weighted Average Exercise Price, beginning (in Dollars per share) | $ / shares	$ 12
Weighted Average Remaining Contract Term, beginning	3 years 8 months 15 days
Granted (in Shares)	3,143,969
Weighted Average Exercise Price, Granted (in Dollars per share) | $ / shares	$ 1.25
Weighted Average Remaining Contract Term, Granted	5 years
Exercised (in Shares)
Weighted Average Remaining Contract Term, Exercised
Weighted Average Remaining Contract Term, Forfeited
Ending balance (in Shares)	3,253,969
Weighted Average Exercise Price, ending (in Dollars per share) | $ / shares	$ 1.61
Weighted Average Remaining Contract Term, ending	4 years 7 months 28 days

Supplier and Customer Concent_2

Supplier and Customer Concentration (Details)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Supplier and Customer Concentration [Line Items]
Purchases finished goods percentage	20%
Percentage of wholesale revenue	71%	60%
No customers accounted percentage		69%
Accounts Receivable [Member]
Supplier and Customer Concentration [Line Items]
No customers accounted percentage	58%

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($)	1 Months Ended		3 Months Ended		6 Months Ended
	Nov. 30, 2021	Mar. 31, 2021	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Commitments and Contingencies [Abstract]
Ongoing payments		$ 300,000
Initial service term		5 years
Investor options to terminate agreements	$ 5,000,000
Net expense			$ 120,000	$ 120,000	$ 240,000	$ 140,000

Commitments and Contingencies_3

Commitments and Contingencies (Details) - Schedule of Estimated Expense	Jun. 30, 2023 USD ($)
License Agreements [Member]
Schedule of Estimated Expense [Line Items]
2023	$ 240,000
2024	480,000
2025	480,000
2026	80,000
Total	1,280,000
Sponsorship Agreement [Member]
Schedule of Estimated Expense [Line Items]
2023	195,763
2024	160,147
Total	$ 355,910

Legal Proceedings (Details)

Legal Proceedings (Details)	6 Months Ended
	Jun. 30, 2023 USD ($) shares
Legal Proceedings [Line Items]
Attorney legal fees | $	$ 1,250,000
Cash payment from insurance coverage | $	805,000
Cash payment | $	$ 400,000
Common stock shares | shares	500,000
Common stock shares forfeiture | shares	250,000
Ms. Anderson [Member]
Legal Proceedings [Line Items]
Common stock shares | shares	500,000

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)		6 Months Ended
	Aug. 02, 2023	Jun. 30, 2023
Subsequent Event [Line Items]
Purchase of shares (in Shares)		1
Price per share (in Dollars per share)		$ 1
Purchase of shares (in Shares)		4,000
Conversion price per share (in Dollars per share)		$ 0.1
Floor price conversion price per share (in Dollars per share)		$ 0.05
Owning rate		4.99%
Preferred share dividends rate		50%
Market price rate		50%
Securities purchase agreement per share (in Dollars per share)		$ 0.47
Stated share percentage		150%
Stock price per share (in Dollars per share)		$ 200
Common Stock [Member]
Subsequent Event [Line Items]
Conversion price per share (in Dollars per share)		0.1
Series A Stock [Member]
Subsequent Event [Line Items]
Price per share (in Dollars per share)		$ 150
Owning rate		19.90%
Preferred share dividends rate		75%
Series A Stock [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Preferred share dividends rate		12%
Series A Stock [Member] | IPO [Member]
Subsequent Event [Line Items]
Price per share (in Dollars per share)		$ 100
Subsequent Event [Member] | Series A Stock [Member]
Subsequent Event [Line Items]
Purchase of shares (in Shares)	4,000
Purchase Agreement [Member]
Subsequent Event [Line Items]
Purchase of shares (in Shares)		2,000
Total gross proceeds (in Dollars)		$ 1,000,000
Purchase Agreement [Member] | Series A Stock [Member]
Subsequent Event [Line Items]
Purchase of shares (in Shares)		10,000
Purchase Agreement [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
aggregate purchase price (in Dollars)	$ 400,000
Individual Holder Share Cap [Member] | Series A Stock [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Preferred share dividends rate		19.90%