Company: IPST
Filing Date: 2025-12-12
Form Type: S-1/A
Source: 0001213900-25-121277
Chunk: 392

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-12
Form: S-1/A
Chunk 392
---
 |
| Total Property and Equipment                            |     |            |              |   |   13,228,795 |   |     |   |   13,599,957 |   |
| Less: Accumulated Depreciation                          |     |            |              |   |   (7,779,383 | ) |     |   |   (7,171,845 | ) |
| Property and Equipment, net of Accumulated Depreciation |     |            |              | $ |    5,449,412 |   |     | $ |    6,428,112 |   |

Depreciation expense related to property and equipment for the years ended December 31, 2024 and 2023 was $ and $ respectively.

F-74 Heritage Distilling Holding Company, Inc.
Notes to Consolidated Financial Statements NOTE 5 — CONVERTIBLE NOTES Increased Authorized Capital for Convertible Notes On October 30, 2023, the Company’s Board of Directors and shareholders took certain actions and approved Amendments to the Company’s certificate of incorporation and bylaws in preparation for a planned initial public offering (the “Actions and Amendments”). These Actions and Amendments, among other things: increased the Company’s authorized capital from 3,000,000shares to 10,000,000shares, including 9,500,000shares of common stock and 500,000shares of Founders Common Stock (which Founders Common Stock has four votes per share). On April 1, 2024, the Company filed a second amendment to its amended and restated certificate of incorporation to increase authorized capital to 70,000,000shares. Upon approval of the October 30, 2023 increase in authorized shares, the 2022 and 2023 Convertible Notes were exchanged (upon the effectiveness of the Company’s IPO on November 25, 2024) for 165,607additional shares of common stock and 25,369prepaid warrants; The actual unconditional exchange of the 2022 and 2023 Convertible Notes and reclassification of the aggregate September 30, 2024 fair value of $ 18,482,353in 2022 and 2023 Convertible Notes to equity (of Common Stock Par Value and Paid -in-capitalof $ 331and, $ 18,482,022, respectively) under the terms of the Subscription Exchange Agreement occurred on November 25, 2024 upon the effectiveness of the Company’s anticipated IPO — which