Company: IPST
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001788230-25-000062
Chunk: 17

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 17
---
24NET SALESProducts$838,055 $1,231,823 Services253,928 474,336 Total Net Sales1,091,983 1,706,159 COST OF SALESProducts814,209 1,213,565 Services5,889 84,057 Total Cost of Sales820,098 1,297,622 Gross Profit271,885 408,537 OPERATING EXPENSESSales and Marketing1,315,386 1,189,854 General and Administrative1,407,676 1,445,553 Total Operating Expenses2,723,062 2,635,407 Operating Loss(2,451,177)(2,226,870)OTHER INCOME / (EXPENSE)Interest Expense(523,214)(601,006)Gain on Investment— 3,421,222 Change in Fair Value of Convertible Notes— (571,089)Change in Fair Value of Warrant Liabilities— 430,208 Other Income / (Expense)(58,656)374 Total Other Income / (Expense)(581,870)2,679,709 Income / (Loss) Before Income Taxes(3,033,047)452,839 Income TaxesNet Income / (Loss)$(3,033,047)$452,839 Net Income / (Loss) Per Share, Basic$(0.34)$1.12 Weighted Average Common Shares Outstanding, Basic9,662,201403,329Net Income / (Loss) Per Share, Diluted (See Note 13)$(0.34)$0.13 Weighted Average Common Shares Outstanding, Diluted9,662,2013,473,832

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

5

Heritage Distilling Holding Company, Inc.

Condensed Consolidated Statements of Stockholders’ Equity / (Deficit)(unaudited)

Common StockPreferred Stock - Series APreferred Stock - Series BAccumulatedEquity / (Deficit)TotalStock-holders’Equity / (Deficit)Number of SharesPar ValueNumber of SharesPar ValueNumber of SharesPar ValueAdditionalPaid-inCapitalBeginning Balance December 31, 20245,273,611$556 494,840$49 —$— $74,925,180 $(74,134,018)$791,767 Private Placement of Series B Preferred Stock