Company: IPST
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-006695
Chunk: 28

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 28
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 most directly comparable financial measure calculated and presented in accordance with GAAP.

| Reconciliation of Net Loss to Adjusted Net Loss:          |     | Nine Months   
 Ended         
 September 30, 
 2024          |            |   |     | Years Ended  
 December 31, 
 2023         |             |   |     | 2022 |             |   |
|:----------------------------------------------------------|:----|:--------------|-----------:|:--|:----|:-------------|------------:|:--|:----|:-----|:------------|:--|
| Net income/(loss)                                         |     | $             |  5,426,409 |   |     | $            | (36,798,419 | ) |     | $    | (12,268,216 | ) |
| Add back: Change in fair value of convertible notes       |     |               | (8,324,198 | ) |     |              |  22,764,854 |   |     |      | (2,117,636  | ) |
| Add back: Change in fair value of warrant liabilities     |     |               | (1,734,308 | ) |     |              |     240,159 |   |     |      | (148,364    | ) |
| Add back: Change in fair value of acquisition contingency |     |               |   (457,127 | ) |     |              |           — |   |     |      | —           |   |
| Adjusted net income (loss)                                |     | $             | (5,089,224 | ) |     | $            | (13,793,406 | ) |     | $    | (14,534,216 | ) |

14 RISK FACTORS Investing in our securities involves a high degree of risk. You should carefully consider the following information about these risks, together with the other information appearing elsewhere in this prospectus, including our financial statements, the notes thereto and the section entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” before deciding to invest in our securities. The occurrence of any of the following risks could have a material and adverse effect on our business, reputation, financial condition, results of operations and future growth prospects, as well as our ability to accomplish our strategic objectives. As a result, the trading price of our securities could decline, and you could lose all or part of your investment. Additional risks and