Company: IPST
Filing Date: 2025-12-12
Form Type: S-1/A
Source: 0001213900-25-121277
Chunk: 364

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-12
Form: S-1/A
Chunk 364
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cont.)

The following summarizes the Company’s operations by segment. There were no IP Strategy Segment activities prior to the nine months ended September 30, 2025.

| Heritage Distilling Segment |     | Nine Months Ended 
 September 30,     
 2025              |           |     | 2024 |           |
|:----------------------------|:----|:------------------|----------:|:----|:-----|----------:|
| Revenue(a)                  |     | $                 | 3,494,262 |     | $    | 5,309,907 |
| Cost of Revenue             |     |                   | 3,018,488 |     |      | 3,523,831 |
| Gross Profit                |     |                   |   475,774 |     |      | 1,786,076 |
| IP Strategy Segment         |     |                   |           |     |      |           |
| Revenue(b)                  |     |                   | 1,908,544 |     |      |         — |
| Cost of Revenue             |     |                   |    53,342 |     |      |         — |
| Gross Profit                |     |                   | 1,855,202 |     |      |         — |
| Total Revenue               |     |                   | 5,402,806 |     |      | 5,309,907 |
| Cost of Revenue             |     |                   | 3,071,830 |     |      | 3,523,831 |
| Gross Profit                |     | $                 | 2,330,976 |     | $    | 1,786,076 |

____________

(a)

(b)

The CODM does not review disaggregated assets on a segment basis, and therefore, such information is not presented. As a result of the change in operating segments, the Company’s reporting units were reassessed, and it was determined that the two operating segments are also reporting units for the purpose of evaluating goodwill for impairment. Since the IP Strategy Segment is a newly-created operating segment that did not have activities prior to the nine months ended September 30, 2025, all goodwill was attributed to the Heritage Distilling Segment.

NOTE 16 — SUBSEQUENT EVENTS For its condensed consolidated financial statements as of September 30, 2025 and for the period then ended, the Company evaluated subsequent events through the date on which those condensed consolidated financial statements were issued. Other than the items noted below and in the