Company: IPST
Filing Date: 2025-12-12
Form Type: S-1/A
Source: 0001213900-25-121277
Chunk: 18

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-12
Form: S-1/A
Chunk 18
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BN, we could also see a degradation of our brand if we cannot ensure product quality and consistency throughout all locations. •Our failure to maintain an effective system of internal control over financial reporting could adversely affect our ability to present accurately our financial statements and could materially and adversely affect us, including our business, reputation, results of operations, financial condition or liquidity. 7 Implications of Being an Emerging Growth Company and a Smaller Reporting Company We qualify as an “emerging growth company,” as defined in the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. For as long as we remain an emerging growth company, we may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies. These provisions include, but are not limited to: •being permitted to have only two years of audited financial statements and only two years of related selected financial data and management’s discussion and analysis of financial condition and results of operations disclosure; •an exemption from compliance with the auditor attestation requirement in the assessment of our internal control over financial reporting pursuant to the Sarbanes -OxleyAct of 2002, as amended, or the Sarbanes -OxleyAct; •reduced disclosure about executive compensation arrangements in our periodic reports, registration statements, and proxy statements; and •exemptions from the requirements to seek non -bindingadvisory votes on executive compensation or golden parachute arrangements. In addition, the JOBS Act permits emerging growth companies to take advantage of an extended transition period to comply with new or revised accounting standards applicable to public companies. We are not choosing to “opt out” of this provision. We will remain an emerging growth company until the earliest of (i) the end of the fiscal year following the fifth anniversary of the completion of our November 2024 initial public offering, (ii) the first fiscal year after our annual gross revenues exceed $1.235 billion, (iii) the date on which we have, during the immediately preceding three -yearperiod, issued more than $1.0 billion in non -convertibledebt securities or (iv) the end of any fiscal year in which the market value of our common stock held by non -affiliatesexceeds $700 million as of the end of the second quarter of that fiscal year. We are also a “smaller reporting company,” meaning that the market value of our stock held by non -affiliatesplus the proposed aggregate amount of gross proceeds to us as a result of