Company: IPST
Filing Date: 2025-06-23
Form Type: 424B3
Source: 0001641172-25-015954
Chunk: 345

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-06-23
Form: 424B3
Chunk 345
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:|:----|:--------------------------|-------:|:----|:--------------------------------|:--|:----|:----|----------:|
| Thinking Tree Trade Name             |     | 6 years  |     | $    |   250,000 |     | $                         | 14,671 |     | $                               | — |     | $   |   235,329 |
| Thinking Tree Customer Relationships |     | 10 years |     |      |   190,000 |     |                           |  4,178 |     |                                 | — |     |     |   185,822 |
| Goodwill – Thinking Tree Acquisition |     | N/A      |     |      |   589,870 |     |                           |    N/A |     |                                 | — |     |     |   589,870 |
| Total                                |     |          |     | $    | 1,029,870 |     | $                         | 18,849 |     | $                               | — |     | $   | 1,011,021 |

There were no intangible assets or goodwill as of December 31, 2023.

| F-72 |

<div align='center'>Heritage Distilling Holding Company, Inc.

Notes to Consolidated Financial Statements</div>

NOTE 10 — ACQUISITION OF THINKING TREE SPIRITS(cont.)

Thinking Tree Spirits Dissenters’ Rights Process— In July 2024 three Thinking Tree Spirits shareholders served their notice to exercise dissenters’ rights under Oregon law. Dissenters’ rights statutes allow a party opposed to certain transactions to demand payment in cash for the value of their interests held rather than receive shares in the resulting entity. Parties can either agree upon a negotiated value or a dissenter who does not believe they are being fairly compensated for the value of their interests may seek a judicially determined value. In the case of a private entity, or a transaction involving private companies with no public clearing price for their stock, certain methods, models and assumptions are used to attempt to estimate or derive a fair market value. The statutory deadline has passed for any other Thinking Tree Spirits shareholders to claim dissenter’s rights.

The amount being sought by the dissenters would consume most, if not all, of the amount in stock paid in the transaction, and management believes the amount of compensation they are seeking is too high.

Because this process creates uncertainty related to how many net shares of common stock are owed to the