Every 10-Q that Heritage Distilling Holding Company, Inc. (CASK) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow CASK and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full CASK filings page.
IP Strategy Holdings, Inc. reported first-quarter 2026 net revenue of $1.71 million, up from $1.09 million a year earlier, driven mainly by new crypto and related revenue of $1.45 million.
Despite higher revenue, the company posted a net loss of $66.7 million versus $3.0 million in 2025. The loss was largely caused by a $62.1 million negative change in the fair value of intangible digital assets and a $2.36 million loss on token sales as the value of $IP Tokens fell sharply.
At March 31, 2026, cash was $92,703, total assets were $42.8 million, and stockholders’ equity was $32.4 million, reflecting a steep decline from year-end as digital asset fair value dropped from $91.7 million to $24.8 million. Operating cash outflow was $2.45 million.
The company has pivoted from craft spirits into a dual business of spirits and cryptocurrency, using $IP Tokens as its primary treasury reserve. Management asserts that existing cash, operating cash flows and the ability to sell tokens, if needed, will fund operations for at least twelve months, but extensive disclosures highlight significant volatility, liquidity, regulatory and operational risks tied to its concentrated $IP Token exposure.
Heritage Distilling Holding Company, Inc. (now IP Strategy) reports a dramatic shift in its business and balance sheet for the quarter and nine months ended September 30, 2025, driven by its new digital asset treasury strategy centered on Story $IP Tokens. Total assets jumped to $482,778,372, including $455,648,074 of intangible digital assets, up from total assets of $28,000,026 at December 31, 2024. Net income for the nine months reached $185,935,769 versus $5,426,409 a year earlier, primarily from a $245,841,410 gain in the fair value of intangible digital assets, partially offset by a $49,429,916 income tax expense. Core spirits revenues declined year over year, but new “Crypto and Related” revenue of $1,908,544 contributed to total net revenues of $5,402,806. The company strengthened liquidity through a $223.8 million PIPE of pre-funded warrants and an equity line of credit, while warning of significant volatility, regulatory and custody risks tied to its concentration in $IP Tokens and the possibility of multi-million-dollar penalties if PIPE-related registration deadlines are missed.
Heritage Distilling Holding Company, Inc. filed Amendment No. 1 to its quarterly report for the period ended June 30, 2025 as an exhibit-only update. The amendment’s sole purpose is to refile the company’s Amended and Restated Bylaws to correct a scrivener’s error in the version previously submitted.
The company states that no financial or other disclosures from the original Form 10-Q are being modified, amended, or updated, and the amendment does not reflect events after the original filing date. Currently dated CEO and CFO certifications are included, with certain paragraphs omitted because no financial statements are part of this amendment, and Section 906 certifications are not included for the same reason. The filing notes that there were 26,239,027 shares of common stock outstanding as of August 13, 2025.
Heritage Distilling Holding Company, Inc. (CASK) reported significant operating losses and liquidity pressure in the quarter. The company recorded a net loss of $(7.3) million for the three months and $(10.3) million for the six months ended June 30, 2025, and used approximately $3.5 million of cash in operations in the six-month period. Accumulated deficit was about $84.5 million and stockholders' deficit was approximately $2.9 million at June 30, 2025. The company completed an IPO on November 25, 2024 that generated net proceeds of $5.96 million, has an active equity line (ELOC) that generated $730,074 in the six months and subsequent sales of $4.09 million, and reported 744,354 Series B Preferred shares subscribed (aggregate subscriptions ~$7.44 million). Management states there is substantial doubt about the company’s ability to continue as a going concern and is pursuing additional financing alternatives.