Company: IPST
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001788230-25-000062
Chunk: 15

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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Item 1. Financial Statements 

HERITAGE DISTILLING HOLDING COMPANY, INC.CONSOLIDATED FINANCIAL STATEMENTS

Index to Consolidated Financial Statements

  PageUnaudited Interim Condensed Consolidated Financial Statements for the Three Month Periods ended March 31, 2025 and 2024   Condensed Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024 4Condensed Consolidated Statements of Operations for the Three Months ended March 31, 2025 and 2024 5Condensed Consolidated Statements of Stockholders’ Equity/(Deficit) for the Three Months ended March 31, 2025 and 2024  6Condensed Consolidated Statements of Cash Flows for the Three Months ended March 31, 2025 and 2024 7Notes to Unaudited Condensed Consolidated Financial Statements 8

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Table of Contents

Heritage Distilling Holding Company, Inc.

Condensed Consolidated Balance Sheets(unaudited)

March 31, 2025December 31, 2024ASSETSCurrent AssetsCash$99,542 $453,162 Accounts Receivable199,279 638,890 Inventory2,505,488 2,471,567 Other Current Assets445,458 355,928 Total Current Assets3,249,767 3,919,547 Long Term AssetsProperty and Equipment, net of Accumulated Depreciation5,106,872 5,449,412 Operating Lease Right-of-Use Assets, net3,389,361 3,303,158 Investment in Flavored Bourbon LLC14,285,222 14,285,222 Intangible Assets (Note 8)403,865 421,151 Goodwill (Note 8)589,870 589,870 Other Long Term Assets38,566 31,666 Total Long Term Assets23,813,756 24,080,479 Total Assets$27,063,523 $28,000,026 LIABILITIES & STOCKHOLDERS’ EQUITY / (DEFICIT)Current LiabilitiesAccounts Payable$5,519,332 $4,979,353 Accrued Payroll921,454 950,974 Accrued Tax Liability1,478,668 1,535,628 Other Current Liabilities1