Company: IPST
Filing Date: 2025-02-04
Form Type: 424B3
Source: 0001213900-25-010139
Chunk: 141

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-02-04
Form: 424B3
Chunk 141
---
2,212,000 |   |
| GAAP Gross Profit Additions/(Deductions) |     |      |                   — |   |     |      |         — |   |     |      |                   — |   |     |      |   884,000 |   |
| Adjusted Gross Profit                    |     | $    |           1,786,000 |   |     | $    | 1,391,000 |   |     | $    |           2,151,000 |   |     | $    | 3,096,000 |   |
| GAAP Gross Margin                        |     |      |                  34 | % |     |      |        25 | % |     |      |                  27 | % |     |      |        26 | % |
| Adjusted Gross Margin                    |     |      |                  34 | % |     |      |        25 | % |     |      |                  27 | % |     |      |        37 | % |

<div align='center'>87</div>

The following table presents a reconciliation
of net loss to EBITDA and adjusted EBITDA for the nine months ended September 30, 2024 and 2023, and the years ended December 31,
2023 and 2022.

| EBITDA Analysis                                 |     | Nine Months ended   
 September 30,       
 (rounded to $000’s) 
 2024                |            |   |     | 2023 |             |   |     | Years ended         
 December 31,        
 (rounded to $000’s) 
 2023                |             |   |     | 2022 |             |   |
|:------------------------------------------------|:----|:--------------------|-----------:|:--|:----|:-----|------------:|:--|:----|:--------------------|------------:|:--|:----|:-----|------------:|:--|
| Net Income (Loss)                               |     | $                   |  5,526,000 |   |     | $    | (31,642,000 | ) |     | $                   | (36,798,000 | ) |     | $    | (12,268,000 | ) |
| Add (Deduct):                                   |     |                     |            |   |     |      |             |   |     |                     |             |   |     |