IP STRATEGY HOLDINGS, INC.
Business
IP Strategy Holdings, Inc. operates a diversified business centered on digital asset infrastructure and IP management, supplemented by a legacy craft spirits segment. The company holds a substantial treasury of native utility tokens from Story Network, a decentralized layer 1 blockchain for IP rights, and operates validator nodes to generate staking yield and service revenue. Heritage Distilling Company, a subsidiary, produces and sells award-winning craft whiskeys and flavored spirits through wholesale distribution, direct-to-consumer sales, and the Tribal Beverage Network licensing model.
Summary from 10-K filed 2026-04-14
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Total Net Revenues | 10 | 8 | 8 | |
| Total Cost of Revenue | 5 | 6 | — | |
| Gross Profit | 6 | 2 | 2 | |
| Sales and Marketing | 5 | 6 | 6 | |
| General and Administrative | 12 | 11 | 7 | |
| Change in Fair Value of Intangible Digital Assets | 118 | 0 | — | |
| Restructure Costs | 3 | 0 | — | |
| Total Operating Expenses | 140 | 17 | 13 | |
| Operating Income / (Loss) | −134 | −15 | −11 | |
| Interest Expense | −2 | −3 | −3 | |
| Impairment (Loss) / Gain on Investment | −3 | 3 | 0 | |
| Gain on Extinguishment of Debt | 2 | 0 | — | |
| Change in Fair Value of Convertible Notes | 0 | 14 | −23 | |
| Change in Fair Value of Warrant Liabilities | 0 | 736,580 | −240,159 | |
| Change in Fair Value of Contingency Liability | −62,424 | 0 | — | |
| Other Income / (Expense) | −390,816 | −11,750 | 4,893 | |
| Total Other Income / (Expense) | −4 | 16 | −26 | |
| Income / (Loss) Before Income Taxes | −138 | 719,608 | −37 | |
| Income Taxes | 8,490 | −9,150 | −7,000 | |
| Net Income / (Loss) | −138 | 710,458 | −37 | |
| Net Income / (Loss) Per Share, Basic (in dollars per share) | −16.03 | 0.98 | −96.45 | |
| Weighted Average Common Shares Outstanding, Basic (in shares) | 9 | 64,066 | 381,543 | |
| Net Income / (Loss) Per Share, Diluted (in dollars per share) | −16.03 | −39.46 | −96.45 | |
| Weighted Average Common Shares Outstanding, Diluted (in shares) | 9 | 353,887 | 381,543 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Cash | 245,282 | 453,162 | 76,878 | — | |
| Accounts Receivable | 347,763 | 638,890 | 721,932 | — | |
| Inventory | 2 | 2 | 3 | — | |
| Other Current Assets | 510,440 | 355,928 | 2 | — | |
| Total Current Assets | 3 | 4 | 5 | — | |
| Property and Equipment, net of Accumulated Depreciation (Note 18) | 1 | 5 | 6 | — | |
| Operating Lease Right-of-Use Assets, net (Note 18) | 2 | 3 | 4 | — | |
| Investment in Flavored Bourbon LLC | 11 | 14 | 11 | — | |
| Intangible Digital Assets (Notes 8 and 18) | 92 | 0 | — | — | |
| Other Intangible Assets (Notes 10 and 18) | 0 | 421,151 | — | — | |
| Goodwill (Note 10) | 0 | 589,870 | 0 | — | |
| Other Long Term Assets | 17,965 | 31,666 | 44,817 | — | |
| Total Long Term Assets | 106 | 24 | 21 | — | |
| Total Assets | 109 | 28 | 26 | — | |
| Accounts Payable | 2 | 5 | 5 | — | |
| Accrued Payroll | 2 | 950,974 | 1 | — | |
| Accrued Tax Liability | 2 | 2 | 1 | — | |
| Other Current Liabilities | 536,017 | 1 | 2 | — | |
| Operating Lease Liabilities, Current (Note 18) | 730,935 | 1 | 1 | — | |
| Notes Payable, Current | 2 | 4 | 14 | — | |
| Accrued Interest | 138,692 | 202,367 | 1 | — | |
| Total Current Liabilities | 9 | 14 | 63 | — | |
| Operating Lease Liabilities, net of Current Portion (Note 18) | 1 | 3 | 3 | — | |
| Notes Payable, net of Current Portion | 220,842 | 9 | 0 | — | |
| Accrued Interest, net of Current Portion | 0 | 977,316 | 0 | — | |
| Other Long Term Liabilities | 0 | 127,075 | 0 | — | |
| Total Long-Term Liabilities | 2 | 13 | 7 | — | |
| Total Liabilities | 11 | 27 | 70 | — | |
| Commitments and Contingencies (Note 13) | — | — | — | — | |
| Common stock | 962 | 26 | 67 | — | |
| Additional Paid-In-Capital | 310 | 75 | 31 | — | |
| Accumulated Deficit | −212 | −74 | −75 | — | |
| Total Stockholders Equity / (Deficit) | 98 | 791,767 | −43 | −7 | |
| Total Liabilities & Stockholders Equity / (Deficit) | 109 | 28 | 26 | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Depreciation and Amortization | 1 | 1 | — | |
| Amortization of Operating Lease Right-of-Use Assets | 422,792 | 508,156 | — | |
| Loss on Disposal of Property and Equipment | 991,646 | 241,541 | 43,290 | |
| Non-cash Warrant Issued | 0 | 8,828 | 0 | |
| Change in Fair Value of Contingency Liability | 62,424 | 0 | — | |
| Non-Cash Interest Expense | 140,082 | 346,436 | — | |
| Non-Cash Shares in Lieu of Compensation | 125,000 | 0 | — | |
| Non-Cash Share-Based Compensation | 4 | 5 | 18,594 | |
| Accounts Receivable | 291,127 | 83,042 | −227,218 | |
| Inventory | 484,791 | 1 | 885,547 | |
| Other Current Assets | 646,258 | −115,741 | 61,230 | |
| Other Long Term Assets | 13,701 | 13,151 | 76,270 | |
| Accounts Payable | −3 | −672,348 | 1 | |
| Other Current Liabilities | −290,115 | −1 | 2 | |
| Operating Lease Liabilities | −445,739 | −587,891 | −672,371 | |
| Other Long Term Liabilities | −1 | 0 | — | |
| Net Cash Provided by / (Used in) Operating Activities | −15 | −11 | −8 | |
| Purchase of Intangible Digital Assets | −21 | 0 | — | |
| Purchase of Property and Equipment | −74,754 | −106,421 | −26,512 | |
| Proceeds from Sales of Assets | 118,941 | 0 | — | |
| Proceeds from Purchase of Thinking Tree Spirits | 0 | 5,090 | 0 | |
| Net Cash Provided by / (Used in) Investing Activities | −17 | −101,331 | −24,112 | |
| Proceeds from PIPE Sale of Prepaid Warrants, net | 30 | 0 | — | |
| Proceeds from Notes Payable (including Factoring Agreements) | 0 | 694,914 | 250,000 | |
| Proceeds from Whiskey Notes (including proceeds from related party Whiskey Notes of $0 and $1,100,000 for the years ended December 31, 2025 and 2024, respectively) | 0 | 4 | 3 | |
| Repayment of Notes Payable | −6 | −2 | −183,062 | |
| Proceeds from Initial Public Offering of Common Stock, net of Underwriting Commission | 0 | 6 | 0 | |
| Expenses related to Initial Public Offering, recorded to Additional Paid-in-Capital, net against IPO Proceeds | 0 | −313,467 | 0 | |
| Proceeds from Private Placement of Common Warrants | 0 | 1 | 0 | |
| Proceeds from Warrants Exercised | 355 | 0 | — | |
| Proceeds from ELOC Sales of Common Stock | 5 | 0 | — | |
| Common Stock Shares Repurchased | −2,000 | −3,690 | −11,340 | |
| Net Cash Provided by Financing Activities | 32 | 12 | 8 | |
| Net Increase / (Decrease) in Cash | −207,880 | 376,284 | −146,156 | |
| Interest Expense | 4 | 2 | 2 | |
| Income Tax Expense | 3,122 | 1,650 | 7,000 | |
| Purchase of $IP Tokens with USDC | 59 | 0 | — | |
| Sale of Prepaid Warrants for $IP Tokens and USDC in PIPE Offering | 188 | 0 | — | |
| Issued Warrants for Debt and Vendor Settlements | 4 | 0 | — | |
| Warrant exercised to purchase stock | 0 | 670,686 | 0 | |
| RSUs Vested | 275 | 0 | — | |
| Right-of-Use Assets Obtained / (Released) in Exchange for Operating Lease Liabilities | 2 | 152,821 | — | |
| Transaction Costs Associated with S-1 Filing in Accounts Payable and Other Current Liabilities | 0 | 2 | 1 | |
| Deferred Transaction Costs Applied Against IPO Proceeds | 0 | 2 | 0 | |
| Unpaid Property and Equipment Additions | 0 | 204,366 | 194,366 | |
| Series A Preferred Stock and Warrants Issued in Exchange for Barrels and Inventory | 0 | 1 | 0 | |
| Series A Preferred Stock and Warrants Issued in Exchange for Factoring Agreement Notes Payable Including Interest and Fees | 0 | 719,919 | 0 | |
| Preferred Stock Issued in Exchange for Warrants | 0 | 9 | 0 | |
| Exercise of Warrants to Purchase Common Stock | 0 | 32 | 0 | |
| Prepaid Warrants Issued in Exchange for Common Stock | 0 | 3 | 0 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is IP STRATEGY HOLDINGS, INC.'s CIK number?
IP STRATEGY HOLDINGS, INC.'s SEC CIK number is 0001788230 (1788230). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find IP STRATEGY HOLDINGS, INC.'s SEC filings?
All of IP STRATEGY HOLDINGS, INC.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did IP STRATEGY HOLDINGS, INC. last report earnings?
IP STRATEGY HOLDINGS, INC. (IPST) most recently filed an earnings 8-K with the SEC on Feb 27, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001788230-26-000018). This is IP STRATEGY HOLDINGS, INC.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is IP STRATEGY HOLDINGS, INC.'s most recent earnings 8-K?
IP STRATEGY HOLDINGS, INC.'s latest earnings 8-K (Item 2.02) was filed Feb 27, 2026 under accession 0001788230-26-000018. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View IP STRATEGY HOLDINGS, INC.'s latest earnings 8-K →
Look up any company's CIK number →