Company: IPST
Filing Date: 2025-02-04
Form Type: 424B3
Source: 0001213900-25-010139
Chunk: 137

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-02-04
Form: 424B3
Chunk 137
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 remaining assets of our Ballard tasting room, which was closed 
 in March 2023.                                                                                                                        |

| ● | The approximately $42,000 decrease in other general and administrative                              
 expenses included accumulative smaller changes in utilities, travel, insurance, and other expenses. |

| ● | The approximately $543,000 increase in professional fees expense 
 included:                                                        |

|                                   | Professional Fees | Years Ended December 31, 
 (rounded to $000’s)      |      2023 |     |   |      2022 |     |   |   Change |   |
|:----------------------------------|:------------------|:-------------------------|----------:|:----|:--|----------:|:----|:--|---------:|:--|
| Accounting and Valuation Services |                   | $                        | 1,318,000 |     | $ |   812,000 |     | $ |  506,000 |   |
| Legal                             |                   |                          |   657,000 |     |   |   272,000 |     |   |  385,000 |   |
| Investment Banking                |                   |                          |         — |     |   |   323,000 |     |   | (323,000 | ) |
| Other                             |                   |                          |   245,000 |     |   |   270,000 |     |   |  (25,000 | ) |
| Total                             |                   | $                        | 2,220,000 |     | $ | 1,677,000 |     | $ |  543,000 |   |

| ● | The approximately $506,000 increase in accounting and valuation                                                                         
 services expenses included: approximately $1,031,000 of such SPAC-related expenses for the year ended December 31, 2023 and $52,000 for 
 the year ended December 31, 2022; an increase in other financial statement preparation and review expenses (which was also primarily    
 SPAC-related) of approximately $979,000; and a decrease in general accounting and financial services of approximately $149,000.         |

| ● | The approximately $385,000 increase in legal fees was primarily                                                                         
 the result of legal work in the year ended December 31, 2023 related to the merger agreement for the proposed SPAC transaction and work 
 associated with the preparation of related filings with the SEC.                                                                        |

| ● | The