Company: IPST
Filing Date: 2025-12-19
Form Type: S-1/A
Source: 0001213900-25-123872
Chunk: 148

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-19
Form: S-1/A
Chunk 148
---
 |   |

86

•The approximately $647,000 of personnel — share -basedcompensation in the nine months ended September30, 2025, for which there was no such expense in the comparable nine months ended September30, 2024, included; $511,000 grant of matching non -cashRSU compensation related to deferred compensation (see Notes 2 and 7 of our condensed consolidated financial statements for the nine month periods ended September30, 2025 and 2024 included in this prospectus), plus additional RSU grants recognitions of $136,000. •The approximately $46,000 decrease in tasting room expenses was the result of decrease in spending. •The approximately $134,000 decrease in other sales and marketing expenses stems from decreased deals, discounts, rebates and incentives offered to wholesale distributors for low margin products and the ending of a contract for an outside sales consultant as of December31, 2024. General and Administrative Expenses General and administrative expenses were approximately $8,294,000 for the nine months ended September 30, 2025, compared to approximately $4,632,000 for the nine months ended September 30, 2024. This approximately $3,662,000 increase included:

| General and Administrative Expense                  
 2025                                                |     | Nine Months Ended   
 September 30,       
 (rounded to $000’s) |           | 2024 |     |   |           |     | Change |           |   |
|:----------------------------------------------------|:----|:--------------------|----------:|:-----|:----|:--|----------:|:----|:-------|----------:|:--|
| Personnel – Cash Wages and Related Non-Cash Expense |     | $                   | 1,887,000 |      |     | $ | 1,611,000 |     | $      |   276,000 |   |
| Personnel – Share-Based Compensation                |     |                     | 1,810,000 |      |     |   |         — |     |        | 1,810,000 |   |
| Recruiting and retention                            |     |                     |    (5,000 | )    |     |   |    18,000 |     |        |   (23,000 | ) |
| Professional Fees                                   |     |                     | 1,077,000 |      |     |   | 1,028,000 |     |        |