Company: IPST
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001788230-25-000175
Chunk: 129

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-11-18
Form: 10-Q
Item: Part I, Item 1
Chunk 129
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15, 2025 PIPE and the total number of new shares issued relative to our previously outstanding shares of common stock. We anticipate that report will be finalized in time for the filing of our annual report.

Comparison of the Results of Operations for the Three Months Ended September 30, 2025 and 2024 

The numbers presented below that have been rounded for presentation purposes and have been rounded individually. As a result, totals may reflect the effect of differences between: aggregating the individually rounded component numbers; and the rounding of the total of the individual (non-rounded) component numbers. In cases where rounding occurred, the amount of the rounding difference is generally $1,000 or less. Such differences are considered to be insignificant. The following table summarizes our results of operations for the three months ended September 30, 2025 and 2024.

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For the Three Months EndedSeptember 30,20252024ChangeNet Revenue Products$815,514 $1,375,230 $(559,716)Services264,943 386,204 (121,261)Crypto and Related1,908,544—1,908,544Total Net Revenue2,989,001 1,761,434 1,227,567 Cost of RevenueProducts1,074,878 1,117,516 (42,638)Services28,778 14,175 14,603 Crypto and Related53,342 — 53,342 Total Cost of Revenue1,156,998 1,131,691 25,307      Total Gross Profit1,832,003 629,743 1,202,260 Operating ExpensesSales and Marketing1,023,935 1,271,063 (247,128)General and Administrative1,956,900 1,438,770 518,130 Total Operating Expenses2,980,835 2,709,833 271,002 Operating Loss(1,148,832)(2,080,090)931,258 Other Income (Expense)Interest Expense(497,975)(661,643)163,668 Gain on Extinguishment of Debt1,673,127— 1,673,127 Change in Fair Value of Intangible Digital Assets245,841,410— 245,841,410 Change in Fair Value of Convertible Notes— 29,288 (29,288)Change in Fair Value of Warrant