Company: IPST
Filing Date: 2025-08-26
Form Type: S-1
Source: 0001213900-25-080839
Chunk: 285

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-08-26
Form: S-1
Chunk 285
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 | ) |
| Property and Equipment, net of Accumulated 
 Depreciation                               |     |            |              | $ |  4,832,975 |   |     | $ |    5,449,412 |   |

Depreciation expense related to property and equipment for the three months ended June 30, 2025 and 2024 was 273,928 and 334,797 respectively; and for the six months ended June 30, 2025 and 2024 was $570,456 and $655,262 respectively. NOTE 5 — BORROWINGS Borrowings of the Company consisted of the following:

|                           |     |   |   June 30, 
       2025 |   |     |   | December 31, 
         2024 |   |
|:--------------------------|:----|:--|-----------:|:--|:----|:--|-------------:|:--|
| Silverview Loan           |     | $ | 10,382,438 |   |     | $ |   10,682,438 |   |
| PPP Loan                  |     |   |  2,269,456 |   |     |   |    2,269,456 |   |
| COVID19 TTS Loan          |     |   |     39,247 |   |     |   |       39,247 |   |
| City of Eugene            |     |   |    389,875 |   |     |   |      389,875 |   |
| Total Notes Payable       |     |   | 13,081,016 |   |     |   |   13,381,016 |   |
| Less: Debt Issuance Costs |     |   |   (101,587 | ) |     |   |     (140,082 | ) |
|                           |     | $ | 12,979,429 |   |     | $ |   13,240,934 |   |

In March and September 2021, the Company executed a secured term loan agreement and an amendment with Silverview Credit Partners, L.P. (the “Silverview Loan”) for an aggregate borrowing capacity of $15,000,000. The Silverview Loan originally matured on April 15, 2025, which was extended to October 25, 2026 as part of the Silverview Loan modification executed on October 1