Company: IPST
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001788230-25-000062
Chunk: 243

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 2
Chunk 243
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706,159 (614,176)Cost of SalesProducts814,209 1,213,565 (399,356)Services5,889 84,057 (78,168)Total Cost of Sales820,098 1,297,622 (477,524)Gross Profit271,885 408,537 (136,652)Operating ExpensesSales and Marketing1,315,386 1,189,854 125,532 General and Administrative1,407,676 1,445,553 (37,877)Total Operating Expenses2,723,062 2,635,407 87,655 Operating Loss(2,451,177)(2,226,870)(224,307)Other Income (Expense)Interest Expense(523,214)(601,006)77,792 Gain on Investment— 3,421,222 (3,421,222)Change in Fair Value of Convertible Notes— (571,089)571,089 Change in Fair Value of Warrant Liabilities— 430,208 (430,208)Other (Income) / Expense(58,656)374 (59,030)Total Other Expense(581,870)2,679,709 (3,261,579)Income/(Loss) Before Income Taxes(3,033,047)452,839 (3,485,886)Income Taxes— Net Income / (Loss)$(3,033,047)$452,839 $(3,485,886)Net Income / (Loss) Per Share, Basic$(0.34)$1.12 $(1.46)Weighted Average Common Shares Outstanding, Basic9,662,201403,329$9,258,872 Net Income/(Loss) Per Share, Diluted$(0.34)$0.13 $(0.47)Weighted Average Common Shares Outstanding, Diluted9,662,2013,473,8326,188,369

47

Net Sales

Three Months Ended March 31, (rounded to $000’s)Total Sales20252024ChangeProducts$838,000 $1,232,000 $(394,000)Services254,000 474,000 (220,000)$1,092,000 $1,706,000 $(614,000)

Net sales were approximately $1,092,000 and $1,706,