v3.25.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current Assets    
Cash $ 453,162 $ 76,878
Accounts Receivable 638,890 721,932
Inventory 2,471,567 2,756,350
Other Current Assets 355,928 1,717,650
Total Current Assets 3,919,547 5,272,810
Long Term Assets    
Property and Equipment, net of Accumulated Depreciation 5,449,412 6,428,112
Operating Lease Right-of-Use Assets, net 3,303,158 3,658,493
Investment in Flavored Bourbon LLC 14,285,222 10,864,000
Intangible Assets (Note 10) 421,151 0
Goodwill (Note 10) 589,870 0
Other Long Term Assets 31,666 44,817
Total Long Term Assets 24,080,479 20,995,422
Total Assets 28,000,026 26,268,232
Current Liabilities    
Accounts Payable 4,979,353 5,228,786
Accrued Payroll 950,974 1,321,298
Accrued Tax Liability 1,535,628 1,468,994
Other Current Liabilities 1,253,052 1,827,013
Operating Lease Liabilities, Current 1,131,545 1,294,706
Notes Payable, Current 3,758,595 14,270,956
Convertible Notes Payable (2022 and 2023 Convertible Notes) (including related party convertible notes of $0 and $17,220,203 as of December 31, 2024 and 2023, respectively) (See Notes 5 and 15) 0 36,283,891
Accrued Interest 202,367 1,152,998
Total Current Liabilities 13,811,514 62,848,642
Long Term Liabilities    
Operating Lease Liabilities, net of Current Portion 2,810,015 3,081,924
Notes Payable, net of Current Portion 9,482,339 0
Convertible Notes Payable (Whiskey Notes) (including a related party convertible note of $0 and $390,607 as of December 31, 2024 and 2023, respectively) 0 1,452,562
Accrued Interest, net of Current Portion 977,316 0
Other Long Term Liabilities 127,075 0
Total Long-Term Liabilities 13,396,745 6,842,046
Total Liabilities 27,208,259 69,690,688
Commitments and Contingencies (Note 13)
Stockholders’ Equity / (Deficit)    
Preferred Stock, par value $0.0001 per share; 5,000,000 and 0 shares authorized; 500,000 and 0 shares designated Series A as of December 31, 2024 and 2023, respectively; 494,840 and 0 shares issued and outstanding as of December 31, 2024 and 2023, respectively 49 0
Common Stock, par value $0.0001 per share; 70,000,000 and 10,000,000 shares authorized as of December 31, 2024 and 2023 respectively; 5,273,611 and 381,484 shares issued and outstanding as of December 31, 2024 and 2023, respectively 556 67
Additional Paid-In-Capital 74,925,180 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
2022 and 2023 Convertible Notes    
Long Term Liabilities    
Warrant Liabilities 0 794,868
Whiskey Notes    
Long Term Liabilities    
Convertible Notes Payable (Whiskey Notes) (including a related party convertible note of $0 and $390,607 as of December 31, 2024 and 2023, respectively) 0 1,452,562
Warrant Liabilities $ 0 $ 1,512,692

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