Company: IPST
Filing Date: 2025-12-19
Form Type: S-1/A
Source: 0001213900-25-123872
Chunk: 355

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-19
Form: S-1/A
Chunk 355
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, and after consultation with Roth Capital Partners, LLC the Company was notified by Roth that certain 2022 warrants promised to Roth related to the 2022 Convertible Note financing had not been issued yet. The Company and Roth are in the process of reaching agreement on the number of warrants due and will update those details in a future filing. Deferred Compensation —Beginning in May 2023, certain senior level employees elected to defer a portion of their salary until such time as the Company completed a successful public registration of its stock (which occurred on November 25, 2024). Upon success of the Company’s initial public offering, each employee was then to be paid their deferred salary plus a range of matching dollars in RSUs (under the new 2024 Plan noted above) for every $1 dollar of deferred salary. As of December 31, 2024, the Company recorded $ 848,908of such deferred payroll expense, including $ 457,730paid in cash in December 2024, and $ 391,179remaining to be paid which is included in accrued liabilities as of September 30, 2025. Accordingly, as of June 30, 2025, upon the expiration of the 6month post -IPOlockup period (in May 2025) the Company issued approximately $ 1,894,615in equity compensation (in the form of 23,682RSUs) in settlement of the deferred compensation liability. During the six months ended June 30, 2025 certain senior level employees elected to defer an additional $ 79,275of their salary. At September 30, 2025, the Company had paid $ 236,907of the deferred compensation, leaving a balance of $ 233,547remaining to be paid as of September 30, 2025. NOTE 9 — ACQUISITION OF THINKING TREE SPIRITS Business Combinations— On February 21, 2024, the Company purchased all the outstanding stock of Thinking Tree Spirits, Inc. (“TTS”), which was accounted for as a business combination, requiring assets and liabilities assumed to be measured and recorded at their acquisition date fair values as of the acquisition date. The resolution of the contingent earn out payments will be reviewed at each subsequent reporting period, and any increases or decreases in fair value will be recorded in the income statement as an operating gain or loss. Under the terms of the stock sale, at the closing of the acquisition on February 21, 2024