Company: IPST
Filing Date: 2025-04-28
Form Type: 10-K
Source: 0001788230-25-000048
Chunk: 260

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-04-28
Form: 10-K
Item: Item 8
Chunk 260
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000 received from Anson and the $27,000 in accrued fees under the terms of the factoring arrangement was exchanged for an aggregate of 27,700 shares of Series A Preferred Stock and 12,500 warrants to purchase shares of common stock at $4.00 per share. Under the exchange agreement, Anson retained its warrants to purchase 83,333 shares of common stock at an exercise price of $6.00 per share.

In October 2024, we sold 250 barrels of aged whiskey to Tiburon for $166,667. Under the terms of the sale, in the event Tiburon resells the barrels back to us, the resale prices shall be the price paid by Tiburon per barrel under the 

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agreement plus a 15% simple annual interest rate of 1.25% per month from the date Tiburon purchased the barrels from us. We also agreed to store the barrels for Tiburon at no fee until Tiburon sells the barrels to either us or a third party.

Item 14. Principal Accounting Fees and Services

Prior to the formation and appointment of the Audit Committee of our board of directors, we appointed Marcum LP as our independent audit firm for the fiscal years ended December 31, 2024 and 2023. In making the determination to appoint Marcum LP as independent auditor for such fiscal years, we considered, among other factors, the independence and performance of Marcum LP, and the quality and candor of Marcum’s communications with management. Marcum LP has served as our independent auditor since 2021.

The Audit Committee may, in its discretion, appoint a different independent audit firm at any time during the year if the Audit Committee determines that it would be in the best interests of the Company and its shareholders.

Fees Paid to Accounting Firm

The following table shows the fees billed by Marcum LLP for the years ended December 31, 2024 and 2023.

20242023Audit Fees$ 491,316$ 515,865Total$ 491,316$ 515,865

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PART IV

Item 15. Exhibits, Financial Statement Schedules

(a)Exhibits.

(a)(1)    Financial Statements

Report of Independent Registered Public Accounting Firm (PCAOB ID 688)Consolidated Balance Sheets as of December 31, 2024 and 2023Consolidated Statements of Operations for the Years Ended December 31, 2024 and 2023Consolid