Company: IPST
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-006695
Chunk: 233

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 233
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07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU 2023-07 is designed to improve the reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses that are regularly provided to the Company’s chief operating decision–making group (the “CODM”). The new standard is effective for the Company for its annual periods beginning January 1, 2024 and for interim periods beginning January 1, 2025, with early adoption permitted. The Company is currently evaluating the impact of adopting the standard. F-15 Heritage Distilling Holding Company, Inc.
Notes to Condensed Consolidated Financial Statements
(unaudited)

NOTE 3 — INVENTORIES

Inventories consisted of the following:

|                 |     |   | September 30, 
          2024 |     |   | December 31, 
         2023 |
|:----------------|:----|:--|--------------:|:----|:--|-------------:|
| Finished Goods  |     | $ |       547,981 |     | $ |      531,302 |
| Work-in-Process |     |   |     1,976,318 |     |   |      989,712 |
| Raw             
 Materials       |     |   |     1,070,105 |     |   |    1,235,336 |
| Total           
 Inventory       |     | $ |     3,594,404 |     | $ |    2,756,350 |

NOTE 4 — PROPERTY AND EQUIPMENT, NET

Property and equipment, net consisted of the following:

|                                                         |     |            | Estimated                
 Useful Lives  (in years) |   | September 30, 
          2024 |   |     |   | December 31, 
         2023 |   |
|:--------------------------------------------------------|:----|-----------:|:-------------------------|:--|--------------:|:--|:----|:--|-------------:|:--|
| Machinery and Equipment                                 |     |    5 to 20 |                          | $ |     3,806,698 |   |     | $ |    3,469,204 |   |
| Leasehold Improvements                                  |     | Lease term |                          |   |     7,378,639 |   |     |   |    7,378,639 |   |
| Computer and Office Equipment