Company: IPST
Filing Date: 2025-06-04
Form Type: POS AM
Source: 0001641172-25-013501
Chunk: 301

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-06-04
Form: POS AM
Chunk 301
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 2024 and for interim periods beginning January 1, 2025, with early adoption permitted. The Company adopted ASU 2023-07 on January 1, 2024, which did not have a material impact on the consolidated financial statements.

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 2024-03 requires 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 it financial statements.

NOTE 3 — INVENTORIES

Inventories consisted of the following:

SCHEDULE OF INVENTORIES

|                 |     | As of December 31, 
 2024               |      2024 |     | 2023 |      2023 |
|:----------------|:----|:-------------------|----------:|:----|:-----|----------:|
| Finished Goods  |     | $                  |   461,254 |     | $    |   531,302 |
| Work-in-Process |     |                    |   936,181 |     |      |   989,712 |
| Raw Materials   |     |                    | 1,074,132 |     |      | 1,235,336 |
| Total Inventory |     | $                  | 2,471,567 |     | $    | 2,756,350 |

NOTE 4 — PROPERTY AND EQUIPMENT, NET

Property and equipment, net consisted of the following:

SCHEDULE OF PROPERTY AND EQUIPMENT

|                                                         |     |            | Estimated  Useful Lives  (in years) |   | December