Company: IPST
Filing Date: 2025-08-26
Form Type: S-1
Source: 0001213900-25-080839
Chunk: 163

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-08-26
Form: S-1
Chunk 163
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657,000 |     |   |   340,000 |   |
| Consulting                            |     |                          |   133,000 |     |   |   170,000 |     |   |   (37,000 | ) |
| Consulting – Share-Based Compensation |     |                          | 1,571,000 |     |   |         — |     |   | 1,571,000 |   |
| Other                                 |     |                          |   506,000 |     |   |    75,000 |     |   |   431,000 |   |
|                                       |     | $                        | 3,766,000 |     | $ | 2,220,000 |     | $ | 1,546,000 |   |

A majority of our professional fees expense in the years ended December 31, 2024 and 2023 were incurred as a result of general preparedness of our financial reporting and capital structure for our initial public offering, and previously, for the proposed SPAC transaction discussed below (which was terminated in May 2023). Accordingly, within that context, most of our professional fees expense and changes in expense levels between the respective year -over -yearperiods were as follows: •The approximately $1,571,000 of non -cashshare -basedcompensation expense recognized in 2024 for RSU awards granted to consultants. 41.7% of our Professional Fees in 2024 were non -cashshare -basedcompensation expensed in 2024 from the awarding of RSUs to outside consultants in lieu of cash. •Excluding the approximately $1,571,000 in non -cashshared -basedexpenses for consultants, professional fees decreased by approximately $25,000 to approximately $2,195,000 from approximately $2,220,000 in the years ended December31, 2024 and 2023, respectively. •The approximately $759,000 decrease in accounting and valuation services expenses were primarily the result of hiring an in -houseChief Financial Officer, moving what were professional fees paid for a contract acting Chief Financial Officer into General and Administrative costs, and the end of valuation related services to the SPAC transactions that was terminated in May 2023. •The approximately $340,000 decrease in legal fees was primarily the result of legal work in the year ended December31, 2024 related to our initial public offering compared to legal work in the year ended December31