Company: IPST
Filing Date: 2025-12-12
Form Type: S-1/A
Source: 0001213900-25-121277
Chunk: 160

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-12
Form: S-1/A
Chunk 160
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 Hill tasting room lease terminating May 2023, and our Ballard tasting room lease terminating April 2024. •The approximately $138,000 decrease in depreciation expense was primarily the result of accelerating depreciation in 2023 to write off the remaining assets of our Ballard tasting room, which was closed in March 2023.

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•The approximately $180,000 decrease in other general and administrative expenses included accumulative smaller changes in utilities, travel, insurance and other expenses. •The approximately $1,546,000 increase in professional fees expense included:

| Professional Fees                     
 2024                                  |     | Years Ended December 31, 
 (rounded to $000’s)      |      2023 |     |   |    Change |     |   |           |   |
|:--------------------------------------|:----|:-------------------------|----------:|:----|:--|----------:|:----|:--|----------:|:--|
| Accounting and Valuation Services     |     | $                        |   559,000 |     | $ | 1,318,000 |     | $ |  (759,000 | ) |
| Legal                                 |     |                          |   997,000 |     |   |   657,000 |     |   |   340,000 |   |
| Consulting                            |     |                          |   133,000 |     |   |   170,000 |     |   |   (37,000 | ) |
| Consulting – Share-Based Compensation |     |                          | 1,571,000 |     |   |         — |     |   | 1,571,000 |   |
| Other                                 |     |                          |   506,000 |     |   |    75,000 |     |   |   431,000 |   |
|                                       |     | $                        | 3,766,000 |     | $ | 2,220,000 |     | $ | 1,546,000 |   |

A majority of our professional fees expense in the years ended December 31, 2024 and 2023 were incurred as a result of general preparedness of our financial reporting and capital structure for our initial public offering, and previously, for the proposed SPAC transaction discussed below (which was terminated in May 2023). Accordingly, within that context, most of our professional fees expense and changes in expense levels between the respective year -over-yearperiod