Company: IPST
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001788230-25-000062
Chunk: 18

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 (and warrants) (See Note 7)—— — — 167,981 17 1,679,793 — 1,679,810 Exercise of ELOC Commitment Warrant67,1627 — — — — 60 — 67 ELOC Agreement Sales of Common Stock 330,014 33 — — — — 232,394 — 232,427 Exercise of Prepaid Warrants to Purchase Common Stock1,250,777125 — — — — (125)— — Shares Repurchased—— — — — — — — — Net Income / (Loss)—— — — — — — (3,033,047)(3,033,047)Ending Balance March 31, 20256,921,564$721 494,840$49 167,981$17 $76,837,302 $(77,167,065)$(328,976)

Common StockAdditionalPaid-inCapitalAccumulated Equity / (Deficit)TotalStockholders’ Equity / (Deficit)Number of SharesPar ValueBeginning Balance December 31, 2023381,484$67 $31,421,953 $(74,844,476)$(43,422,456)Acquisition of Thinking Tree Spirits50,9585 (5)— — Net Income / (Loss)—— — 452,839 452,839 Ending Balance March 31, 2024432,442 $72 $31,421,948 $(74,391,637)$(42,969,617)

The accompanying notes are an integral part of these condensed consolidated financial statements.

6

Heritage Distilling Holding Company, Inc.

Condensed Consolidated Statements of Cash Flows(unaudited)

For the Three Months EndedMarch 31,20252024Net Income / (Loss)$(3,033,047)$452,839 Adjustments to Reconcile Net Income / (Loss) to Net Cash Used in Operating Activities:Depreciation Expense296,528 320,465 Amortization of operating lease right-of-use assets95,657 144,384 Loss on disposal of property and equipment5,702 17,994 Gain on Investment— (3,421,222)Change in Fair Value of Convertible