Company: IPST
Filing Date: 2025-06-04
Form Type: POS AM
Source: 0001641172-25-013501
Chunk: 302

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-06-04
Form: POS AM
Chunk 302
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 31, 2024 |   |     |   | December 31, 2023 |   |
|:--------------------------------------------------------|:----|-----------:|:------------------------------------|:--|------------------:|:--|:----|:--|------------------:|:--|
| Machinery and Equipment                                 |     |    5 to 20 |                                     | $ |         3,478,062 |   |     | $ |         3,469,204 |   |
| Leasehold Improvements                                  |     | Lease term |                                     |   |         6,930,585 |   |     |   |         7,378,639 |   |
| Computer and Office Equipment                           |     |    3 to 10 |                                     |   |         2,460,632 |   |     |   |         2,492,310 |   |
| Vehicles                                                |     |          5 |                                     |   |           274,559 |   |     |   |           248,304 |   |
| Construction in Progress                                |     |        N/A |                                     |   |            84,957 |   |     |   |            11,500 |   |
| Total Property and Equipment                            |     |            |                                     |   |        13,228,795 |   |     |   |        13,599,957 |   |
| Less: Accumulated Depreciation                          |     |            |                                     |   |        (7,779,383 | ) |     |   |        (7,171,845 | ) |
| Property and Equipment, net of Accumulated Depreciation |     |            |                                     | $ |         5,449,412 |   |     | $ |         6,428,112 |   |

Depreciation expense related to property and equipment for the years ended December 31, 2024 and 2023 was $ 1,284,653and $ 1,430,240respectively.

| 177 |

Heritage Distilling Holding Company, Inc.

Notes to Consolidated Financial Statements

NOTE 5 — CONVERTIBLE NOTES

Increased Authorized Capital for Convertible Notes

On October 30, 2023, the Company’s Board of Directors and shareholders took certain actions and approved Amendments to the Company’s certificate of incorporation and bylaws in preparation for a planned initial public offering (the “Actions and Amendments”). These