11 - NON-CONTROLLING INTERESTS
of March 31, 2012 and December 31 2011, the non-controlling interests balance was $(235,601) and $(123,696), respectively, due
to minority members owning 34.5% of the membership interests of Wodka.
and losses are allocated to the members of Wodka in accordance with Wodkas Limited Liability Company Agreement (the Agreement).
Profits are allocated first to members in the amounts and proportions necessary to bring the members respective capital
account balances in proportion to their percentage ownership interests and thereafter to the members pro rata in accordance with
their percentage ownership interests. The Agreement allocates losses first to the members in an amount equal to the positive balances
in their Capital Accounts until the balances in such accounts are reduced to zero and thereafter to the members pro rata in accordance
with their respective percentage ownerships interests.
the three months ended March 31, 2012 and 2011, $212,459 and $0, respectively, of Wodkas net loss was allocated to Panache
and $294,478 and $599,231, respectively, was allocated to noncontrolling interests.