Company: IPST
Filing Date: 2025-02-04
Form Type: 424B3
Source: 0001213900-25-010139
Chunk: 255

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-02-04
Form: 424B3
Chunk 255
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Recent accounting pronouncements— In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 requires entities to disclose specific rate reconciliations, amount of income taxes separated by federal and individual jurisdiction, and the amount of income (loss) from continuing operations before income tax expense (benefit) disaggregated between federal, state, and foreign. The new standard is effective for the Company for its annual periods beginning January 1, 2025, with early adoption permitted. The Company is currently evaluating the impact of adopting the standard.

In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU 2023-07 is designed to improve the reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses that are regularly provided to the Company’s chief operating decision–making group (the “CODM”). The new standard is effective for the Company for its annual periods beginning January 1, 2024 and for interim periods beginning January 1, 2025, with early adoption permitted. The Company is currently evaluating the impact of adopting the standard.

<div align='center'>F-15

Heritage Distilling Holding Company, Inc.
Notes to Condensed Consolidated Financial Statements
(unaudited)</div>

NOTE 3 — INVENTORIES

Inventories consisted of the following:

|                 |     |   | September 30, 
          2024 |     |   | December 31, 
         2023 |
|:----------------|:----|:--|--------------:|:----|:--|-------------:|
| Finished Goods  |     | $ |       547,981 |     | $ |      531,302 |
| Work-in-Process |     |   |     1,976,318 |     |   |      989,712 |
| Raw             
 Materials       |     |   |     1,070,105 |     |   |    1,235,336 |
| Total           
 Inventory       |     | $ |     3,594,404 |     | $ |    2,756,350 |

NOTE 4 — PROPERTY AND EQUIPMENT, NET

Property and equipment, net