Company: IPST
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001788230-25-000126
Chunk: 305

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 305
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 total of the individual (non-rounded) component numbers. In cases where rounding occurred, the amount of the rounding difference is generally $1,000 or less. Such differences are considered to be insignificant. 

55

The following table summarizes our results of operations for the six months ended June 30, 2025 and 2024.

For the Six Months EndedJune 30,20252024ChangeNet SalesProducts$1,898,498 $2,675,858 $(777,360)Services515,307 872,616 (357,309)Total Net Sales2,413,805 3,548,474 (1,134,669)Cost of SalesProducts1,897,152 2,311,463 (414,311)Services17,680 80,677 (62,997)Total Cost of Sales1,914,832 2,392,140 (477,308)Gross Profit498,973 1,156,334 (657,361)Operating ExpensesSales and Marketing3,287,310 2,487,650 799,660 General and Administrative6,311,802 3,193,246 3,118,556 Total Operating Expenses9,599,112 5,680,896 3,918,216 Operating Loss(9,100,139)(4,524,562)(4,575,577)Other Income (Expense)Interest Expense(1,118,522)(1,235,656)117,134 Gain on Investment— 3,421,222 (3,421,222)Change in Fair Value of Convertible Notes— 9,044,748 (9,044,748)Change in Fair Value of Warrant Liabilities— 1,705,020 (1,705,020)Change in Fair Value of Contingency Liability— 457,127 (457,127)Other (Income) / Expense(106,342)592 (106,934)Total Other Expense(1,224,864)13,393,053 (14,617,917)Income/(Loss) Before Income Taxes(10,325,003)8,868,491 (19,193,494)Income Taxes(3,122)(9,150)6,028 Net Income / (Loss)$(10,328,125)$8,859,341 $(19,187