Company: IPST
Filing Date: 2025-10-16
Form Type: S-1/A
Source: 0001213900-25-099309
Chunk: 309

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-10-16
Form: S-1/A
Chunk 309
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 expense (benefit) disaggregated between federal, state, and foreign. The new standard is effective for the Company for its annual periods beginning January 1, 2025, with early adoption permitted. The Company is currently evaluating the impact of adopting the standard. In November 2024, the FASB issued ASU 2024 -03, Income Statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220 -40): Disaggregation of Income Statement Expenses (“ASU 2024 -03”), and in January 2025, the FASB issued ASU 2025 -01, Income Statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220 -40): Clarifying the Effective Date (“ASU 2025 -01”). ASU 2024 -03requires additional disclosure of the nature of expenses included in the income statement as well as disclosures about specific types of expenses included in the expense captions presented in the statement of operations. ASU 2024 -03, as clarified by ASU 2025 -01, is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact these standards will have on its financial statements. F-18

Heritage Distilling Holding Company, Inc.
Notes to Condensed Consolidated Financial Statements
(unaudited)

NOTE 3 — INVENTORIES

Inventories consisted of the following:

|                 |     |   |  June 30, 
      2025 |     |   | December 31, 
         2024 |
|:----------------|:----|:--|----------:|:----|:--|-------------:|
| Finished Goods  |     | $ |   515,422 |     | $ |      461,254 |
| Work-in-Process |     |   |   815,031 |     |   |      936,181 |
| Raw Materials   |     |   |   984,999 |     |   |    1,074,132 |
| Total Inventory |     | $ | 2,315,452 |     | $ |    2,471,567 |

NOTE 4 — PROPERTY AND EQUIPMENT, NET

Property and equipment, net consisted of the following:

|                                            |     |            | Estimated    
 Useful Lives 
 (in