Company: IPST
Filing Date: 2025-06-13
Form Type: S-1
Source: 0001641172-25-015121
Chunk: 366

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-06-13
Form: S-1
Chunk 366
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| Change in fair value of dilutive convertible notes          |     |                                   | (14,028,067 | ) |     |      |           — |   |
| Net Income / (Loss) for the period - diluted                |     | $                                 | (13,965,254 | ) |     | $    | (36,798,419 | ) |
| Denominator:                                                |     |                                   |             |   |     |      |             |   |
| Weighted average number of shares of common stock - basic   |     |                                   |   1,281,339 |   |     |      |     381,543 |   |
| Conversion of convertible notes into common stock           |     |                                   |   2,609,360 |   |     |      |           — |   |
| Common warrants                                             |     |                                   |   3,187,060 |   |     |      |           — |   |
| Weighted average number of shares of common stock - diluted |     |                                   |   7,077,759 |   |     |      |     381,543 |   |
| Net Income / (Loss) per share of common stock - diluted     |     | $                                 |       (1.97 | ) |     | $    |      (96.45 | ) |

| 208 |

Heritage Distilling Holding Company, Inc.

Notes to Consolidated Financial Statements

NOTE 16 — BASIC AND DILUTED NET INCOME / (LOSS) PER SHARE(cont.)

Diluted earnings / (loss) per share reflect the potential dilution of securities that could share in the earnings of an entity. For the year ended December 31, 2024, the calculation of diluted earnings per share includes the dilutive effect of shares issued for the conversion of the convertible notes and related warrants and subtracts the related gains from changes in their respective fair values from net income. The following number of shares of common stock from the potential exercise or conversion of outstanding potentially dilutive securities were excluded from the computation of diluted net income / (loss) per share attributable to common stockholders for the periods presented because including them would have been antidilutive:

SCHEDULE OF ANTIDILUTIVE SECURITIES

|                               |     |                              2024 |           |     | 2023 |           |
|                               |     | For the Years Ended  December 31, |           |     |      |           |
|