Company: IPST
Filing Date: 2025-12-12
Form Type: S-1/A
Source: 0001213900-25-121277
Chunk: 316

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-12
Form: S-1/A
Chunk 316
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 of $ 16,974and $ 11,254for the nine months ended September 30, 2025 and 2024, respectively. Accrued interest payable on the PPP loan was $ 124,229and $ 107,255as of September 30, 2025 and December 31, 2024, respectively. The Company is currently in the process of disputing a portion if not all of the difference. The terms of the agreement state that the Company has 18 -24months to repay the PPP loan. In 2023, the Company entered into a secured business loan and security agreement with Channel Partners Capital, LLC (“Channel Partners”) (the “2023 Channel Partners Loan”) for an aggregate borrowing capacity of $ 250,000, of which. $ 47,104of proceeds was used to pay off the remaining balance of a previous Channel Partners loan. The 2023 Channel Partners Loan matured and was paid in full on October 5, 2024. During its term the 2023 Channel Partners Loan accrued interest at a fixed rate of 13.34%, and had payments of $ 16,944, principal plus interest was payable monthly. The Company had an option to prepay the 2023 Channel Partners Loan with a prepayment discount of 5.0%. As of both September 30, 2025 and December 31, 2024, the outstanding balance of the 2023 Channel Partners Loan was $ 0. In February 2024, the Company acquired the debt of Thinking Tree Spirits with City of Eugene in the amount of $ 389,875. (See Note 8.) The City of Eugene loan will mature on May 1. 2028 with an interest rate of 0% through July 31, 2025 and an interest rate of 5% per annum that began on August 1, 2025. Monthly payments began on September 1, 2025 in the amount of $ 6,714, including accrued interest. In May 2024, the Company raised $ 100,000under the terms of an accounts receivable factoring arrangement with a related party. (See Note 13.) As of July 1, 2024, the Company raised an additional aggregate of $ 299,667between twoseparate investors under the terms of a July 1, 2024 accounts receivable factoring arrangement, including $ 166,667from the related party.