Company: IPST
Filing Date: 2025-12-12
Form Type: S-1/A
Source: 0001213900-25-121277
Chunk: 325

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-12
Form: S-1/A
Chunk 325
---
,648,074 |
| Total      |     |               53,354,575 |     | $          | 209,659,980 |     | $          | 455,648,074 |

The $IP Tokens acquired in conjunction with the PIPE are subject to restrictions on transfer and lock-up agreements for to as discussed above.

F-29

Heritage Distilling Holding Company, Inc.
Notes to Condensed Consolidated Financial Statements
(unaudited) NOTE 7 — PRIVATE PLACEMENT OF COMMON STOCK (PRIVATE INVESTMENT IN PUBLIC EQUITY (“PIPE”) AND INTANGIBLE DIGITAL ASSETS (cont.)

The following table represents a reconciliation of the fair values of the Company’s intangible digital assets: There were no Token Treasury Segment activities prior to the nine months ended September 30, 2025:

| Intangible Digital Assets Held – December 31, 2024 |     | Fair Value    
 For the Nine  
 Months Ended  
 September 30, 
 2025          |           — |   |
|:---------------------------------------------------|:----|:--------------|------------:|:--|
| Additions(a)                                       |     |               | 210,728,527 |   |
| Dispositions                                       |     |               |    (921,862 | ) |
| Gains(b)                                           |     |               | 246,033,779 |   |
| Losses(b)                                          |     |               |    (192,370 | ) |
| Ending Balance – September 30, 2025                |     | $             | 455,648,074 |   |

____________ (a) Additions represent initial consideration received as part of the PIPE offering, and purchases of, and staking rewards earned on, Crypto assets held for investment. (b) The Company measures gains and losses by each asset held. These include cumulative realized losses of $( 146,685), unrealized losses of $( 45,685), and unrealized gains of $ 245,841,410for the nine months ended September 30, 2025 The Company also holds stablecoins, primarily USD Coin (USDC), which are designed to maintain a value pegged to the U.S. dollar. These holdings are presented within Other Current Assets on the Consolidated Balance Sheets. Because stablecoins do not meet the definition of cash or cash equivalents under ASC 305, Cash and Cash Equivalents, they are accounted for as financial instruments and measured at fair value under ASC 820,