Company: BLNE
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011724
Chunk: 41

Company: Beeline Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 assumptions used in the Black-Scholes model.

During the three months ended March 31, 2025,
3,980,664 shares of Series G Preferred Stock were converted into 398,066 shares of common stock. 

In
January 2025, the Company issued a consultant 245,098
shares of Series G Preferred Stock as payment for past legal services of $0.1 million included in stock to be issued on the
consolidated balance sheets as of December 31, 2024, and 19,698
shares of Series G Preferred Stock as payment in 2025.

Stock-Based
Compensation

On
September 8, 2016, the Company adopted the 2016 Equity Incentive Plan (the “2016 Plan”). As of March 31, 2025, there were
29 options and 34,935 restricted stock units (“RSUs”) fully vested and outstanding under the 2016 Plan. On February 6, 2025,
the 2016 Plan was terminated and replaced with the 2025 Equity Incentive Plan (the “2025 Plan”).

2025
Equity Incentive Plan

On
February 10, 2025, the Company’s Board of Directors adopted the 2025 Plan and authorized the 2025 Plan to be submitted to stockholders
of the Company for approval. There are 1.2 million shares available for award under the 2025 Plan. The 2025 Plan provides for the issuance
of incentive stock options, non-statutory stock options, share appreciation rights, restricted shares, restricted share units, and other
share-based awards. The Company has not issued any awards under the 2025 Plan.

    26

Beeline
Holdings, Inc.

Notes
to Consolidated Financial Statements

March
31, 2025

(Unaudited)

A
summary of all stock option activity as of and for the three months ended March 31, 2025 is presented below:

 SUMMARY OF STOCK OPTIONS ACTIVITY

    # of Options  
    Weighted-Average Exercise Price 
  
    Outstanding as of December 31, 2023 
     212  
    $579.50 
  
    Options forfeited 
     (108) 
     1,215.91 
  
    Outstanding as of December 31, 2024 
     104  
    $304.34 
  
    Options forfe