Company: IPST
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001788230-25-000175
Chunk: 350

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-11-18
Form: 10-Q
Item: Part I, Item 2
Chunk 350
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,421,222 (3,421,222)Gain on Extinguishment of Debt1,673,127—1,673,127 Change in Fair Value of Convertible Notes— 8,324,198 (8,324,198)Change in Fair Value of Warrant Liabilities— 1,734,308 (1,734,308)Change in Fair Value of Contingency Liability(62,424)457,127 (519,551)Other (Income) / Expense(220,960)656 (221,616)Total Other Expense245,614,655 12,040,212 233,574,443 Income / (Loss) Before Income Taxes235,365,685 5,435,559 229,930,126 Income Taxes(49,429,916)(9,150)(49,420,766)Net Income / (Loss)$185,935,769 $5,426,409 $180,509,360 Net Income / (Loss) Per Share, Basic $43.58 $247.40 $(203.82)Weighted Average Common Shares Outstanding, Basic4,236,73321,428$4,215,305 Net Income / (Loss) Per Share, Diluted$43.58 $(62.42)$106.00 Weighted Average Common Shares Outstanding, Diluted4,236,733 228,9914,007,742

68

Net Sales — Spirits Business

Nine Months Ended September 30,(rounded to $000’s)Total Sales - Spirits Business20252024ChangeProducts$2,714,000 $4,051,000 $(1,337,000)Services780,000 1,259,000 (479,000)$3,494,000 $5,310,000 $(1,816,000)

Net sales were approximately $3,494,000 and $5,310,000 for the nine months ended September 30, 2025 and 2024, respectively, a decrease of approximately $1,816,000, or 34.2%, period over period. 

The approximately $1,337,000 net decrease in products sales, period over period, included:

Products Sales - Spirits BusinessNine Months Ended September 30,(rounded to $000’s) 20252024ChangeWholesale$957,000 $1,299,000