| PROPERTY AND EQUIPMENT, NET |
NOTE
4 — PROPERTY AND EQUIPMENT, NET
Property
and equipment, net consisted of the following:
SCHEDULE OF PROPERTY AND EQUIPMENT
| | |
Estimated Useful
Lives (in
years) | |
March
31, 2025 | | |
December
31, 2024 | |
| Machinery and Equipment | |
5 to 20 | |
$ | 3,406,433 | | |
$ | 3,478,062 | |
| Leasehold Improvements | |
Lease term | |
| 6,930,585 | | |
| 6,930,585 | |
| Computer and Office Equipment | |
3 to 10 | |
| 2,458,194 | | |
| 2,460,632 | |
| Vehicles | |
5 | |
| 274,559 | | |
| 274,559 | |
| Construction in Progress | |
N/A | |
| 84,957 | | |
| 84,957 | |
| Total Property and Equipment | |
| |
| 13,154,728 | | |
| 13,228,795 | |
| Less: Accumulated Depreciation | |
| |
| (8,047,856 | ) | |
| (7,779,383 | ) |
| Property
and Equipment, net of Accumulated Depreciation | |
| |
$ | 5,106,872 | | |
$ | 5,449,412 | |
Depreciation
expense related to property and equipment for the three months ended March 31, 2025 and 2024 was $296,528 and $320,465 respectively.
|
NOTE
4 — PROPERTY AND EQUIPMENT, NET
Property
and equipment, net consisted of the following:
SCHEDULE OF PROPERTY AND EQUIPMENT
| | |
| |
| | | |
| | |
| | |
Estimated Useful Lives (in years) | |
December 31, 2024 | | |
December 31, 2023 | |
| Machinery and Equipment | |
5 to 20 | |
$ | 3,478,062 | | |
$ | 3,469,204 | |
| Leasehold Improvements | |
Lease term | |
| 6,930,585 | | |
| 7,378,639 | |
| Computer and Office Equipment | |
3 to 10 | |
| 2,460,632 | | |
| 2,492,310 | |
| Vehicles | |
5 | |
| 274,559 | | |
| 248,304 | |
| Construction in Progress | |
N/A | |
| 84,957 | | |
| 11,500 | |
| 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 $1,284,653 and $1,430,240 respectively.
Heritage
Distilling Holding Company, Inc.
Notes
to Consolidated Financial Statements
|