Company: IPST
Filing Date: 2025-12-19
Form Type: S-1/A
Source: 0001213900-25-123872
Chunk: 179

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-19
Form: S-1/A
Chunk 179
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 whenever such early adoption is permitted for private companies. We will cease to be an emerging growth company on the date that is the earliest of (i) the last day of the fiscal year in which we have total annual gross revenues of $1.235 billion or more, (ii) the last day of our fiscal year following the fifth anniversary of the date of the closing of our initial public offering (November 25, 2029), (iii) the date on which we have issued more than $1.0 billion in nonconvertible debt during the previous three years or (iv) the date on which we are deemed to be a large accelerated filer under the rules of the SEC. Further, even after we no longer qualify as an emerging growth company, we may still qualify as a “smaller reporting company,” which would allow us to take advantage of many of the same exemptions from disclosure requirements, including reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements. We cannot predict if investors will find our common stock less attractive because we may rely on these exemptions. If some investors find our common stock less attractive as a result, there may be a less active trading market for our common stock and our share price may be more volatile. 106 BUSINESS We are a spirits producer making, marketing and selling a diverse line of award -winningcraft spirits, including whiskeys, vodkas, gins, rums, and “ready -to-drink” canned cocktails. We recognize that taste and innovation are key criteria for consumer choices in spirits and have developed differentiated products that are responsive to consumer desires for rewarding and novel taste experiences. Early in 2025, we determined to implement a procedure to accept cryptocurrency as a payment form for our craft spirits products and developed a cash management and treasury strategy that included holding digital currency assets directly on our balance sheet. In August 2025, we modified and updated our cryptocurrency treasury reserve policy to focus our growing cryptocurrency efforts on the native cryptocurrency of the Story Network, a decentralized peer -to-peernetwork of computers that operate on cryptographic protocols that allows network participants to exchange tokens of value, called $IP Tokens, that are created, recorded and transmitted on a public transaction ledger known as the Story Network that is intended to be optimized for the registration, licensing and enforcement of intellectual property (“IP”) rights. In connection with the adoption of our modified and updated cryptocurrency treasury reserve policy, we established as a new business segment a new validator business in which we will stake the majority of the $