Company: IPST
Filing Date: 2025-06-13
Form Type: S-1
Source: 0001641172-25-015121
Chunk: 265

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-06-13
Form: S-1
Chunk 265
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 % |     |      |  22 | % |

The Company’s ROU assets and liabilities for operating leases were $ 3,389,361and $ 4,023,485, respectively, as of March 31, 2025. The ROU assets and liabilities for operating leases were $ 3,303,158and $ 3,941,560, respectively, as of December 31, 2024. The ROU assets for operating leases were included in “Operating Lease Right-of-Use Assets, net” in our accompanying consolidated balance sheets. The liabilities for operating leases were included in the “Operating Lease Liabilities, Current” and “Operating Lease Liabilities, net of Current Portion” in the accompanying consolidated balance sheets.

Maturities of lease liabilities for the remainder of 2025 and the years through 2029 and thereafter are as follows:

SCHEDULE OF MATURITIES OF LEASE LIABILITIES

| Years                   
 Ending                  |     | Amounts |            |   |
|:------------------------|:----|:--------|-----------:|:--|
| 2025                    |     | $       |  1,022,140 |   |
| 2026                    |     |         |  1,345,203 |   |
| 2027                    |     |         |  1,329,535 |   |
| 2028                    |     |         |  1,225,326 |   |
| 2029                    |     |         |  1,203,001 |   |
| thereafter              |     |         |    684,779 |   |
| Total lease payments    |     | $       |  6,809,984 |   |
| Less: Interest          |     |         | (2,786,499 | ) |
| Total Lease Liabilities |     | $       |  4,023,485 |   |

NOTE 10 — COMMITMENTS AND CONTINGENCIES

As an inducement to obtain financing in 2022 and 2023 through convertible notes, the Company agreed to pay a portion of certain future revenues the Company may receive from the sale of FBLLC or the Flavored Bourbon brand to the investors in such financings in the amount of 150% of their subscription amount for an aggregate of approximately $ 24,495,000.

| 154 |

Heritage Distilling Holding Company, Inc.

Notes to Condensed Consolid