Company: IPST
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-006695
Chunk: 122

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 122
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     | $                   | (36,798,419 | ) |     | $    | (12,268,216 | ) |     | $      | (24,530,203 | ) |
| Net Loss Per Share, Basic and Diluted                         |     | $                   |      (96.45 | ) |     | $    |      (32.18 | ) |     | $      |      (64.27 | ) |
| Weighted Average Common Shares Outstanding, Basic and Diluted |     |                     |     381,543 |   |     |      |     381,266 |   |     |        |         277 |   |

Net Sales Net sales were approximately $7,971,000 and $8,310,000 for the years ended December 31, 2023 and 2022, respectively, a decrease of approximately $339,000 or 4.1%, period over period. The decrease in net sales resulted primarily from an approximately $246,000, or 8.0%, decrease in services sales, to approximately $2,835,000 for the year ended December 31, 2023, compared to approximately $3,081,000 for the year ended December 31, 2022, and also included a decrease in product sales of approximately $93,000, or 1.8%, to approximately $5,136,000 for the year ended December 31, 2023, compared to approximately $5,229,000 for the year ended December 31, 2022. This decrease was partly due to the closure of one of our six tasting room locations (in Ballard, WA) in mid-March 2023 in connection with our decision not to renew the lease for such tasting room. We note that total sales for 2023 would have been higher than sales in 2022 had we not closed the Ballard tasting room in connection with our decision not to renew the lease demonstrating that 2023 was a year of stabilization in anticipation of new product launches and new wholesale markets opening in 2024 to begin our growth. 80 The approximately $93,000 net decrease in products sales, period over period, included:

|             | Products Sales | Years Ended December 31, 
 (rounded to $000’s)      |      2023 |     |   |      2022 |     |   |   Change |   |
|:------------|:---------------|:-------------------------|----------