Company: IPST
Filing Date: 2025-04-28
Form Type: 10-K
Source: 0001788230-25-000048
Chunk: 221

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-04-28
Form: 10-K
Item: Item 8
Chunk 221
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31, 2024 and 2023 respectively; 5,273,611 and 381,484 shares issued and outstanding as of December 31, 2024 and 2023, respectively556 67 Additional Paid-In-Capital74,925,180 31,421,953 Accumulated Deficit(74,134,018)(74,844,476)Total Stockholders’ Equity / (Deficit)791,767 (43,422,456)Total Liabilities & Stockholders’ Equity / (Deficit)$28,000,026 $26,268,232 

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

F-2

Heritage Distilling Holding Company, Inc.

Consolidated Statement of Operations

For the Years EndedDecember 31,20242023NET SALESProducts$6,614,933 $5,136,482 Services1,787,555 2,834,742 Total Net Sales8,402,488 7,971,224 COST OF SALESProducts6,173,189 4,963,176 Services103,452 857,007 Total Cost of Sales6,276,641 5,820,183 Gross Profit2,125,847 2,151,041 OPERATING EXPENSESSales and Marketing6,038,636 5,938,315 General and Administrative11,006,021 7,477,285 Total Operating Expenses17,044,657 13,415,600 Operating Loss(14,918,810)(11,264,559)OTHER INCOME / (EXPENSE)Interest Expense(2,535,701)(2,526,740)Gain on Investment3,421,222 — Change in Fair Value of Convertible Notes14,028,067 (22,764,854)Change in Fair Value of Warrant Liabilities736,580 (240,159)Other Income / (Expense)(11,750)4,893 Total Other Income / (Expense)15,638,418 (25,526,860)Income / (Loss) Before Income Taxes719,608 (36,791,419)Income Taxes(9,150)(7,000)Net Income / (Loss)$710,458 $(36,798,419)Net Income / (Loss) Per Share, Basic$0.05 $(