Company: IPST
Filing Date: 2025-06-23
Form Type: 424B3
Source: 0001641172-25-015954
Chunk: 347

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-06-23
Form: 424B3
Chunk 347
---
 sold until after the one hundred and eighty (180) day anniversary of the date of their grant. The granting of such shares shall occur after the Company has been advised by outside counsel that the final dissenter matter is concluded.

| F-73 |

<div align='center'>Heritage Distilling Holding Company, Inc.

Notes to Consolidated Financial Statements</div>

NOTE 11 — INCOME TAXES

The tax effects of significant items comprising the Company’s deferred taxes as of December 31 are as follows:

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

| Deferred Tax Assets                |     | 2024         
 December 31, 
 2024         |             |   |     | 2023 
 2023 |             |   |
|:-----------------------------------|:----|:-------------|------------:|:--|:----|:-----|------------:|:--|
| Reserves                           |     | $            |      88,630 |   |     | $    |      74,283 |   |
| Deferred Wages                     |     |              |      88,795 |   |     |      |      93,745 |   |
| Lease Liability                    |     |              |     894,703 |   |     |      |   1,005,696 |   |
| Net Operating Loss Carryforwards   |     |              |  14,036,687 |   |     |      |  11,250,985 |   |
| Credit Carryforwards               |     |              |     191,979 |   |     |      |     164,796 |   |
| Fixed Asset Basis                  |     |              |     996,625 |   |     |      |   1,016,323 |   |
| Restricted Stock Units             |     |              |   1,110,471 |   |     |      |           — |   |
| Other Carryforwards                |     |              |     124,945 |   |     |      |      55,584 |   |
| Total Deferred Tax Assets          |     |              |  17,532,835 |   |     |      |  13,661,412 |   |
| Less: Valuation Allowance          |     |              | (13,444,812 | ) |     |      | (10,309,361 | ) |
| Deferred Tax Li