Company: IPST
Filing Date: 2025-06-13
Form Type: S-1
Source: 0001641172-25-015121
Chunk: 356

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-06-13
Form: S-1
Chunk 356
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2023, respectively:

|                                                                     |     | December 31, |     |   |     |      |    |   |
|                                                                     |     |         2024 |     |   |     | 2023 |    |   |
| Weighted-average remaining lease term – operating leases (in years) |     |              | 5.3 |   |     |      |  6 |   |
| Weighted-average discount rate – operating leases                   |     |              |  22 | % |     |      | 22 | % |

The Company’s ROU assets and liabilities for operating leases were $ 3,303,158and $ 3,941,560, respectively, as of December 31, 2024. The ROU assets and liabilities for operating leases were $ 3,658,493and $ 4,376,630, respectively, as of December 31, 2023. The ROU assets for operating leases were included in “Operating Lease Right-of-Use Assets, net” in the accompanying consolidated balance sheets. The liabilities for operating leases were included in the “Operating Lease Liabilities, Current” and “Operating Lease Liabilities, net of Current Portion” in the accompanying consolidated balance sheets.

Maturities of lease liabilities for the years through 2029 and thereafter are as follows:

SCHEDULE OF MATURITIES OF LEASE LIABILITIES

| Years Ending            |     | Amounts |            |   |
|:------------------------|:----|:--------|-----------:|:--|
| 2025                    |     | $       |  1,273,874 |   |
| 2026                    |     |         |  1,257,726 |   |
| 2027                    |     |         |  1,240,392 |   |
| 2028                    |     |         |  1,225,327 |   |
| 2029                    |     |         |  1,203,001 |   |
| thereafter              |     |         |    684,779 |   |
| Total lease payments    |     | $       |  6,885,099 |   |
| Less: Interest          |     |         | (2,943,539 | ) |
| Total Lease Liabilities |     | $       |  3,941,560 |   |

| 203 |

Heritage Distilling Holding Company,