Company: IPST
Filing Date: 2025-08-26
Form Type: S-1
Source: 0001213900-25-080839
Chunk: 338

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-08-26
Form: S-1
Chunk 338
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 the closing of the acquisition transaction that adversely effected the valuation of the acquisition and the Company’s investment in Thinking Tree Spirits. The parties reached agreement dated August 4, 2025, whereby the dissenter relinquished his claims in exchange for $140,000, ending the matter. (See also Note 10.) F-45 Heritage Distilling Holding Company, Inc.
Notes to Condensed Consolidated Financial Statements
(unaudited) NOTE 14 — SUBSEQUENT EVENTS (cont.) Deferred Compensation— Beginning in May 2023, certain senior level employees elected to defer a portion of their salary until such time as the Company completed a successful public registration of its stock (which occurred on November 25, 2024). (See Note 5.) Subsequent to June 30, 2025, the Company paid $236,907 of the deferred compensation, leaving a balance of $233,547 remaining to be paid. During the six months ended June 30, 2025 certain senior level employees elected to defer an additional $79,275 of their salary, resulting in $470,454 remaining to be paid as of June 30, 2025. Subsequent to June 30, 2025, the Company paid $236,907 of the deferred compensation, leaving a balance of $233,547 remaining to be paid. (See also Note 7.) F-46 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Stockholders and Board of Directors of
Heritage Distilling Holding Company, Inc. Opinion on the Financial Statements We have audited the accompanying consolidated balance sheets of Heritage Distilling Holding Company, Inc. (the “Company”) as of December 31, 2024 and 2023, the related consolidated statements of operations, stockholders’ equity/(deficit) and cash flows for each of the two years in the period ended December 31, 2024, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the two years in the period ended December 31, 2024, in conformity with accounting principles generally accepted in the United States of America. Going Concern The accompanying financial statements were prepared assuming the Company will continue as a going concern. As more fully described in Note 1,