Company: IPST
Filing Date: 2025-06-13
Form Type: S-1
Source: 0001641172-25-015121
Chunk: 232

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-06-13
Form: S-1
Chunk 232
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4-03 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 its financial statements.

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Heritage Distilling Holding Company, Inc.

Notes to Condensed Consolidated Financial Statements

(unaudited)

NOTE 3 — INVENTORIES

Inventories consisted of the following:

SCHEDULE OF INVENTORIES

|                 |     |   |     March 
  31, 2025 |     |   |  December 
  31, 2024 |
|:----------------|:----|:--|----------:|:----|:--|----------:|
| Finished Goods  |     | $ |   605,190 |     | $ |   461,254 |
| Work-in-Process |     |   |   871,752 |     |   |   936,181 |
| Raw Materials   |     |   | 1,028,546 |     |   | 1,074,132 |
| Total           
 Inventory       |     | $ | 2,505,488 |     | $ | 2,471,567 |

NOTE 4 — PROPERTY AND EQUIPMENT, NET

Property and equipment, net consisted of the following:

SCHEDULE OF PROPERTY AND EQUIPMENT

|                                                |     |            | Estimated Useful 
 Lives (in        
 years)           |   |      March 
   31, 2025 |   |     |   |   December 
   31, 2024 |   |
|:-----------------------------------------------|:----|-----------:|:-----------------|:--|-----------:|:--|:----|:--|-----------:|:--|
| Machinery and Equipment                        |     |    5 to 20 |                  | $ |  3,406,433 |   |     | $ |  3,478,062 |   |
| Leasehold Improvements                         |     | Lease term |                  |   |  6,930,585 |   |     |   |  6,930,