Company: IPST
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001788230-25-000175
Chunk: 23

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-11-18
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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abilities & Stockholders’ Equity / (Deficit)$482,778,372 $28,000,026 

The accompanying notes are an integral part of these condensed consolidated financial statements.

4

Table of Contents

Heritage Distilling Holding Company, Inc.

Condensed Consolidated Statement of Operations(unaudited)

For the Three Months EndedSeptember 30,For the Nine Months EndedSeptember 30,2025202420252024REVENUEProducts$815,514 $1,375,230 $2,714,012 $4,051,087 Distillery Services264,943 386,204 780,250 1,258,820 Crypto and Related1,908,544— 1,908,544— Total Net Revenues2,989,001 1,761,434 5,402,806 5,309,907 COST OF REVENUEProducts1,074,878 1,117,516 2,972,030 3,428,979 Services28,778 14,175 46,458 94,852 Crypto and Related53,342 — 53,342 —      Total Cost of Revenue1,156,998 1,131,691 3,071,830 3,523,831      Total Gross Profit1,832,003 629,743 2,330,976 1,786,076 OPERATING EXPENSESSales and Marketing1,023,935 1,271,063 4,311,244 3,758,713 General and Administrative1,956,900 1,438,770 8,268,702 4,632,016 Total Operating Expenses2,980,835 2,709,833 12,579,946 8,390,729 Operating Income / (Loss)(1,148,832)(2,080,090)(10,248,970)(6,604,653)OTHER INCOME / (EXPENSE)Interest Expense(497,975)(661,643)(1,616,498)(1,897,299)Change in Fair Value of Intangible Digital Assets245,841,410— 245,841,410 — Gain on Investment— — — 3,421,222 Gain on Extinguishment of Debt1,673,127—1,673,127—Change