Company: IPST
Filing Date: 2025-06-13
Form Type: S-1
Source: 0001641172-25-015121
Chunk: 101

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-06-13
Form: S-1
Chunk 101
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 public offering, were amended to fix the exercise price at $6.00 per share effective upon the closing of our initial public offering, thereby removing the floating price optionality. The fixing of the exercise price allowed us to reclassify the warrant liabilities as equity on a pro forma basis, per ASC Topic 420 as of November 25, 2024 (the date of the our initial public offering).

Income Taxes

Our income tax provision consists of an estimate for U.S. federal and state income taxes based on enacted rates, as adjusted for allowable credits, deductions, uncertain tax positions, changes in deferred tax assets and liabilities and changes in tax law.

Comparison of the Results of Operations for the Three Months Ended March 31, 2025 and 2024

The numbers presented below that have been rounded for presentation purposes have been rounded individually. As a result, totals may reflect the effect of differences between: aggregating the individually rounded component numbers; and the rounding of the total of the individual (non-rounded) component numbers. In cases where rounding occurred, the amount of the rounding difference is generally $1,000 or less. Such differences are considered to be insignificant.

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The following table summarizes our results of operations for the three months ended March 31, 2025 and 2024.

| Net Sales                                           |     | For                          
 the Three Months Ended March 
 31,                          
 2025                         |            |   |     | 2024 |            |   |     | Change |            |   |
|:----------------------------------------------------|:----|:-----------------------------|-----------:|:--|:----|:-----|-----------:|:--|:----|:-------|-----------:|:--|
| Products                                            |     | $                            |    838,055 |   |     | $    |  1,231,823 |   |     | $      |   (393,768 | ) |
| Services                                            |     |                              |    253,928 |   |     |      |    474,336 |   |     |        |   (220,408 | ) |
| Total Net Sales                                     |     |                              |  1,091,983 |   |     |      |  1,706,159 |   |     |        |   (614,176 | ) |
| Cost of Sales                                       |     |                              |            |   |     |      |            |   |     |        |            |