Company: IPST
Filing Date: 2025-12-12
Form Type: S-1/A
Source: 0001213900-25-121277
Chunk: 300

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-12
Form: S-1/A
Chunk 300
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 each day. The funds are then swept back into the Company’s account at the beginning of the next business day. The aggregate limit that can be protected for the Company under this program is approximately $ 150million.

The Company considers the concentration of credit risk associated with its reportable segment that produces and sells alcohol beverages under various brands (the “Heritage Distilling Segment”) accounts receivable to be commercially reasonable and believes that such concentration does not result in the significant risk of near -termsevere adverse impacts. As of September 30, 2025 and December 31, 2024, the Heritage Distilling Segment had customers that individually represented 10% or more of its accounts receivable. There were three and two individual customers that together represented 86% and 77% of total accounts receivable, as of September 30, 2025 and December 31, 2024, respectively. There were five and three individual customer accounts that together represented

F-15

Heritage Distilling Holding Company, Inc.
Notes to Condensed Consolidated Financial Statements
(unaudited) NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)

83% and 64% of total products and distillery services revenue for the nine months ended September 30, 2025 and 2024, respectively. There were three and two individual suppliers that represented 44% and 34% of total accounts payable, as of September 30, 2025 and December 31, 2024, respectively.

| Concentration of Revenues – Heritage Distilling Segment |     | Nine Months Ended 
     September 30, |      |     |    |   |
| 2025                                                    |     |                   | 2024 |     |    |   |
| Customer A                                              |     |                24 |    % |     | 35 | % |
| Customer B                                              |     |                27 |    % |     | 13 | % |
| Customer C                                              |     |                17 |    % |     | 16 | % |
| Customer D                                              |     |                10 |    % |     |  — | % |
| Customer E                                              |     |                12 |    % |     |  — | % |
|                                                         |     |                90 |    % |     | 64 | % |

With the addition of the $IP Token validator revenues commencing in September 2025, the Company does not