Company: IPST
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-006695
Chunk: 307

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 307
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 Inventory |     | $                  | 2,756,350 |     | $ | 3,641,895 |

NOTE 4 — PROPERTY AND EQUIPMENT, NET

|                                                         |     |            | Estimated    
 Useful Lives 
 (in years)   |   | December 31, 
         2023 |   |     |   | December 31, 
         2022 |   |
|:--------------------------------------------------------|:----|-----------:|:-------------|:--|-------------:|:--|:----|:--|-------------:|:--|
| Machinery and Equipment                                 |     |    5 to 20 |              | $ |    3,469,204 |   |     | $ |    3,270,528 |   |
| Leasehold Improvements                                  |     | Lease term |              |   |    7,378,639 |   |     |   |    7,350,908 |   |
| Computer and Office Equipment                           |     |    3 to 10 |              |   |    2,492,310 |   |     |   |    2,492,310 |   |
| Vehicles                                                |     |          5 |              |   |      248,304 |   |     |   |      171,629 |   |
| Construction in Progress                                |     |        N/A |              |   |       11,500 |   |     |   |      128,598 |   |
| Total Property and Equipment                            |     |            |              |   |   13,599,957 |   |     |   |   13,413,973 |   |
| Less: Accumulated Depreciation                          |     |            |              |   |   (7,171,845 | ) |     |   |   (5,730,810 | ) |
| Property and Equipment, net of Accumulated Depreciation |     |            |              | $ |    6,428,112 |   |     | $ |    7,683,163 |   |

Depreciation expense related to property and equipment
for the years ended December 31, 2023 and 2022 was $ and $ respectively.

NOTE 5 — CONVERTIBLE NOTES Increased Authorized Capital for Convertible Notes On October 30, 2023, the Company’s Board of Directors and shareholders took certain actions and approved Amendments to the