Company: IPST
Filing Date: 2025-10-16
Form Type: S-1/A
Source: 0001213900-25-099309
Chunk: 364

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-10-16
Form: S-1/A
Chunk 364
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 of $ 3,792,767of the Company’s unsecured accounts payable as of June 30, 2025 was negotiated to be settled for $ 1,816,250in cash, $ 851,628in Settlement Equity (in the form of an aggregate of 1,527,820warrants) with the remaining $ 1,124,889(of which $ 282,037will be recorded to paid in F-45 Heritage Distilling Holding Company, Inc.
Notes to Condensed Consolidated Financial Statements
(unaudited) NOTE 14 — SUBSEQUENT EVENTS (cont.) capital on the balance sheet as it related to capitalized offering costs, and the remaining $ 842,852will be recorded on the statement of operations as a gain on settlement) to be recognized in the then current period (third quarter) in the respective expense accounts to which the expenses were originally recorded. ELOC Agreement— Subsequent to June 30, 2025, an aggregate of 10,525,357shares of common stock had been sold to the investor under the ELOC Purchase Agreement for aggregate gross proceeds to the Company of $ 4,087,161. Exercise of Common Warrants and Prepaid Warrants —Subsequent to June 30, 2025, 100,000prepaid warrants and 18,796common warrants were exercised for $ 1,188, leaving 0prepaid warrants outstanding and 0common warrants outstanding (including 0common warrants outstanding of the related party). Litigation — CFGI— On January 31, 2025, CFGI, LLC (“CFGI”) commenced a litigation against the Company in the Superior Court, Suffolk County, Massachusetts asserting claims arising under a November 1, 2022 written engagement letter agreement whereby CFGI agreed to provide financial, accounting and tax consulting services to the Company. CFGI contends that it fully performed its obligations under such agreement, but that the parties amended the agreement on or about May 22, 2023 when the Company fell behind in its payments. CFGI alleges further that, while the Company made some payments under the amended agreement, CFGI was then owed approximately $ 730,000, plus interest. On July 30, 2025, the parties entered into a settlement agreement whereby the Company paid $ 500,000in exchange for closing out the balance owed and ending the litigation. (See Note 10.) See also Negotiated Restructurings and Settlement Agreements with Outstanding Secured