Company: IPST
Filing Date: 2025-10-16
Form Type: S-1/A
Source: 0001213900-25-099309
Chunk: 191

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-10-16
Form: S-1/A
Chunk 191
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 •satisfying our liquidity needs; •implementing fiduciary control of our cash and investments; and •maximizing our investment performance within the policy’s parameters and subject to market conditions. 113 In the policy, our Board has delegated to our Chief Investment Officer and the Digital Assets Committee responsibility for overseeing the management of our investment portfolio, which includes: •overseeing the execution of our reserve management activities and the implementation and enforcement of the policy; •evaluating and approving decisions pertaining to our treasury reserve management (such as amounts, timing, and pricing of acquisitions and dispositions of $IP tokens and staking or the use of $IP tokens in decentralized finance protocols); and •providing updates to the Board and management regarding management of our treasury reserves and implementation of the policy. Our Chief Investment Officer and the Digital Assets Committee may delegate duties related to the management of our treasury reserves to other personnel within our company or to third -partyasset managers as they deem appropriate so long as such officer and committee maintain responsibility for overseeing the performance of such delegated duties and for approving purchases and dispositions of treasury reserve assets. In implementing our treasury reserve policy, our Board and the Digital Assets Committee will review our cash flow requirements and determine the amount of liquidity required for working capital, capital investment, debt repayment and other outstanding near -termfinancial obligations, as well as the cash amount to be held in cash and cash equivalents. Pursuant to the policy, we will at all times retain a minimum amount of cash and cash equivalents sufficient to fund our working capital, capital investment, debt repayment, and other outstanding near -termfinancial obligations of at least $3 million, or an appropriate amount of working capital determined by our management, our Chief Investment Officer and the Digital Assets Committee based on market conditions and appropriate working capital needs of our company. Funds not required for Working Capital comprise our treasury reserves and may be invested in accordance with the terms of the policy. The policy further provides that $IP tokens will serve as our primary treasury reserve asset on an ongoing basis, with our primary investment strategy to be focused on maximizing exposure and value accruals related to $IP tokens. This includes, but is not limited to, staking of $IP tokens and the operation of a validator for $IP tokens, and additionally may include other cryptocurrencies, cash or other assets that are required or useful for our activities in connection with our reserve strategy. However, $IP tokens (including staked $IP tokens) will at all times comprise at least 95% of our treasury