Company: IPST
Filing Date: 2025-05-21
Form Type: 424B3
Source: 0001641172-25-011934
Chunk: 88

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-05-21
Form: 424B3
Chunk 88
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 basis related to deferred compensation during the three months ended March 31, 2024 with no such deferred compensation or matching program for the three months ended March 31, 2025. Beginning in May 2023, certain senior level employees elected to defer a portion of their salary until such time as we completed a successful public offering of our common stock (which occurred on November 25, 2024), when the employees would then be paid their respective deferral, plus RSUs or stock options (under the existing 2019 Plan and the new 2024 Plan discussed in Notes 2 and 7 of our condensed consolidated financial statements for the three months ended March 31, 2025 and 2024).

• The approximately $30,000 decrease in leases and rentals was primarily the result of moving from a large warehouse in Eugene, Oregon to a smaller warehouse starting in January 2025.

• The approximately $78,000 increase in other general and administrative expenses included accumulative smaller changes in utilities, travel, general insurance, public company related insurance and other administrative expenses, including board compensation.

• The approximately $87,000 decrease in professional fees expense included:

| Professional           
 Fees                   
 2025                   |     | Three        
 Months Ended 
 March        
 31,          
 (rounded     
 to $000’s)   
 2024         |         |     |   |         |     | Change |          |
|:-----------------------|:----|:-------------|--------:|:----|:--|--------:|:----|:-------|---------:|
| Accounting             
 and Valuation Services |     | $            |  15,000 |     | $ | 163,000 |     | $      | -148,000 |
| Legal                  |     |              |  32,000 |     |   |  73,000 |     |        |  -41,000 |
| Consulting             |     |              |       — |     |   |  38,000 |     |        |  -38,000 |
| Other                  |     |              | 153,000 |     |   |  13,000 |     |        |  140,000 |
|                        |     | $            | 200,000 |     | $ | 287,000 |     | $      |  -87,000 |

A majority of our professional fees expense in the three months ended March 31, 2025 and 202