Company: IPST
Filing Date: 2025-12-19
Form Type: S-1/A
Source: 0001213900-25-123872
Chunk: 159

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-19
Form: S-1/A
Chunk 159
---
 |  1,022,000 |     |   | 1,160,000 |     |   |  (138,000 | ) |
| Other                                        |     |                          |  1,135,000 |     |   | 1,315,000 |     |   |  (180,000 | ) |
|                                              |     | $                        | 11,006,000 |     | $ | 7,477,000 |     | $ | 3,529,000 |   |

•The approximately $11,006,000 in General and Administrative Expenses listed in the table above includes a total of approximately $3,985,000 in non -cashshare -basedcompensation expense recognized in 2024 for RSU awards, comprised of approximately $2,414,000 of such non -cashexpense to General and Administrative employees and approximately $1,571,000 in non -cashexpense to consultants. (See further detail below in Professional Feesfor discussion of the non -cashexpenses recognized for consultants). •Non -cashshare -basedexpenses related to RSU grant awards of $3,985,097 make up 36.2% of the total General and Administrative expenses for 2024. •The approximately $3,985,000 in non -cashshare -basedexpenses related to RSU grants recognized in 2024 is greater than the total increase in General and Administrative expenses from 2023 to 2024 by approximately $450,000. This indicates that absent the non -cashshare -basedcompensation recognized in 2024, General and Administrative expenses were otherwise down on a cash basis by approximately $450,000, despite any expenses incurred by us to complete our initial public offering. •Beginning in May 2023, certain senior level employees elected to defer a portion of their salary until such time as we completed a successful public offering of our common stock (which occurred on November25, 2024), when the employees would then be paid their respective deferral, plus RSUs or stock options (under the existing 2019 Plan and the new 2024 Plan discussed in Notes 2 and 9 of our consolidated financial statements for the years ended December31, 2024 and 2023). •The approximately $143,000 decrease in recruiting and retention expenses included recruiting expenses related to hiring of key personnel in 2024 and 2023. •The approximately $65,000 decrease in leases and rentals was primarily the result