Company: IPST
Filing Date: 2025-04-28
Form Type: 10-K
Source: 0001788230-25-000048
Chunk: 271

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-04-28
Form: 10-K
Item: Item 8
Chunk 271
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-cash Warrant Issued8,828 — Gain on Investment(3,421,222)— Change in Fair Value of Convertible Notes(14,028,067)22,764,854 Change in Fair Value of Warrant Liabilities(736,580)240,159 Non-cash Interest Expense346,436 435,373 Non-cash Share-based Compensation4,892,110 18,594 Changes in Operating Assets and Liabilities:Accounts Receivable83,042 (227,218)Inventory1,409,180 885,547 Other Current Assets(115,741)61,230 Other Long Term Assets13,151 76,270 Accounts Payable(672,348)1,078,467 Other Current Liabilities(1,151,329)1,691,432 Operating Lease Liabilities(587,891)(672,371)Net Cash Used in Operating Activities(11,215,623)(8,479,746)Cash Flow (used in) / from Investing ActivitiesPurchase of Property and Equipment(106,421)(26,512)Proceeds from Sale of Asset— 2,400 Proceeds from Purchase of Thinking Tree Spirits5,090 — Net Cash Used in Investing Activities(101,331)(24,112)Cash Flow from Financing ActivitiesProceeds from Notes Payable694,914 250,000 Proceeds from Whiskey Notes (including proceeds from related party Whiskey Notes of $1,100,000 and $800,000 for the years ended December 31, 2024 and 2023, respectively)3,655,870 2,975,000 Proceeds from Convertible Notes (including proceeds from related party convertible notes of $0 and $4,675,000 for the years ended December 31, 2024 and 2023, respectively)— 5,590,000 Repayment of Notes Payable(1,723,386)(183,062)Proceeds from Initial Public Offering of Common Stock, net of Underwriting Commission5,960,000 — Expenses related to Initial Public Offering, recorded to Additional Paid-in-Capital, net against IPO Proceeds(313,467)— Proceeds from Private Placement of Common Warrants1,397,998 — Proceeds from Private Placement of Preferred Stock and warrants2,025,000 — Deferred Transaction Costs associated with S-1 Filing