Company: IPST
Filing Date: 2025-04-28
Form Type: 10-K
Source: 0001788230-25-000048
Chunk: 223

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-04-28
Form: 10-K
Item: Item 8
Chunk 223
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 Common Stock Exchanged for Prepaid Warrants - 2022 and 2023 Convertible Notes(1,927,800)(193)— — 193 — — Conversion of Whiskey Notes and Related Warrant Liabilities to Equity 2,946,015 295 — — 11,783,773 — 11,784,068 Common Stock Exchanged for Prepaid Warrants - Whiskey Notes and related Warrant Liabilities(1,969,192)(197)— — 197 — — Shares Repurchased(21)— — — (3,690)— (3,690)Share-based Compensation— — — — 4,892,110 — 4,892,110 Net Income— — — — — 710,458 710,458 Ending Balance December 31, 20245,273,611$556 494,840$49 $74,925,180 $(74,134,018)$791,767 

Common StockAdditionalPaid-inCapitalAccumulated Equity / (Deficit)TotalStockholders’ Equity / (Deficit)Number of SharesPar ValueBeginning Balance December 31, 2022381,556$67 $31,414,699 $(38,046,057)$(6,631,291)Shares Repurchased(72)— (11,340)— (11,340)Share-based Compensation—— 18,594 — 18,594 Net Loss—— — (36,798,419)(36,798,419)Ending Balance December 31, 2023381,484$67 $31,421,953 $(74,844,476)$(43,422,456)

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

F-4

Heritage Distilling Holding Company, Inc.

Consolidated Statements of Cash Flows

For the Twelve Months EndedDecember 31,20242023Net Income / (Loss)$710,458 $(36,798,419)Adjustments to Reconcile Net Income / (Loss) to Net Cash Used in Operating Activities:Depreciation Expense1,284,653 1,430,240 Amortization of operating lease right-of-use assets508,156 492,806 Loss on disposal of property and equipment241,541 43,290 Non