Company: IPST
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-006695
Chunk: 126

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 126
---
:|:----|:--|---------:|:--|
| Accounting and Valuation Services |                   | $                        | 1,318,000 |     | $ |   812,000 |     | $ |  506,000 |   |
| Legal                             |                   |                          |   657,000 |     |   |   272,000 |     |   |  385,000 |   |
| Investment Banking                |                   |                          |         — |     |   |   323,000 |     |   | (323,000 | ) |
| Other                             |                   |                          |   245,000 |     |   |   270,000 |     |   |  (25,000 | ) |
| Total                             |                   | $                        | 2,220,000 |     | $ | 1,677,000 |     | $ |  543,000 |   |

| ● | The approximately $506,000 increase in accounting and valuation                                                                         
 services expenses included: approximately $1,031,000 of such SPAC-related expenses for the year ended December 31, 2023 and $52,000 for 
 the year ended December 31, 2022; an increase in other financial statement preparation and review expenses (which was also primarily    
 SPAC-related) of approximately $979,000; and a decrease in general accounting and financial services of approximately $149,000.         |

| ● | The approximately $385,000 increase in legal fees was primarily                                                                         
 the result of legal work in the year ended December 31, 2023 related to the merger agreement for the proposed SPAC transaction and work 
 associated with the preparation of related filings with the SEC.                                                                        |

| ● | The approximately $323,000 of investment banking expense for                                                                              
 the year ended December 31, 2022 was primarily attributable to the value of warrants granted to investment advisors, which was a non-cash 
 expense.                                                                                                                                  |

| ● | The approximately $25,000 decrease in other professional fees                                                     
 was a result of a decrease in human resources and payroll-related consulting and other general professional fees. |

85 Beginning in 2022, we began exploring funding options, including preparations for the possible merger into a special purpose acquisition company (SPAC). While the costs directly associated with this activity were capitalized and deferred to the balance sheet to be recognized as a cost of the transaction upon a successful completion or