Preheat oven to 350 degrees.
Grease a loaf pan and line with parchment paper. Set aside.
Add the espresso grounds to 1/4 cup hot water. Melt the chocolate in a double boiler or in the microwave (the water should be on lower heat.) Once the chocolate is melted, add the coffee/water mix to to the double boiler of chocolate and continue to whisk until incorporated and the chocolate is thinned out. Let cool completely.
Mix the dry ingredients and set aside.
In a mixer, cream the butter and sugar until light and fluffy, at least 2 minutes.
Add in the eggs one at a time, followed by the cherry wine/liqueur and coconut extract.
Add in the chocolate mixture until combined.
Lower the speed and add in the dry ingredients mix, spoon by spoon until fully incorporated.
In the mixing bowl, add in the chopped cherries and coconut and fold in with a spoon until the cherries and coconut are evenly distributed.
Pour the batter into the loaf pan. Bake for 40-45 minutes, until a toothpick inserted into the center of the loaf comes out nearly or totally clean. This is a very fudgy cake, so a few crumbs are fine, as long as it is not batter like.
After 10 minutes, remove the cake from the loaf and allow to cool completely on a wire rack.
Make the icing and drizzle on top of the cake. Add additional cherries and coconut flakes for garnish.