Company: IPST
Filing Date: 2025-02-04
Form Type: 424B3
Source: 0001213900-25-010139
Chunk: 129

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-02-04
Form: 424B3
Chunk 129
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 an interest expense.

Income Taxes

The provision for income taxes for the nine months
ended September 30, 2024 and 2023 was immaterial, primarily as we were in a net loss position for those periods.

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Comparison of the Results of Operations for the Years Ended December 31, 2023 and 2022

The following table summarizes our results of
operations for the years ended December 31, 2023 and 2022.

| Net Sales                                                     |     | For the Years Ended 
 December 31,        
 2023                |             |   |     | 2022 |             |   |     | Change |             |   |
|:--------------------------------------------------------------|:----|:--------------------|------------:|:--|:----|:-----|------------:|:--|:----|:-------|------------:|:--|
| Products                                                      |     | $                   |   5,136,482 |   |     | $    |   5,228,682 |   |     | $      |     (92,200 | ) |
| Services                                                      |     |                     |   2,834,742 |   |     |      |   3,080,884 |   |     |        |    (246,142 | ) |
| Total Net Sales                                               |     |                     |   7,971,224 |   |     |      |   8,309,566 |   |     |        |    (338,342 | ) |
| Cost of Sales                                                 |     |                     |             |   |     |      |             |   |     |        |             |   |
| Products                                                      |     |                     |   4,963,176 |   |     |      |   5,245,106 |   |     |        |     281,930 |   |
| Services                                                      |     |                     |     857,007 |   |     |      |     852,034 |   |     |        |      (4,973 | ) |
| Total Cost of Sales                                           |     |                     |   5,820,183 |   |     |      |   6,097,140 |   |     |        |     276,957 |   |
| Gross Profit                                                  |     |                     |   2,151,041 |   |     |      |   2,