Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 462

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1C
Chunk 462
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c) evaluated the reasonableness of management’s
cash flow forecasts by comparing them to historical information, and/or other supporting contracts or information, (d) assessed the reasonableness
of the asset volatility, probability estimates, expected term, discount rates royalty rates and attrition rates used, (e) evaluated other
estimates and assumptions as applicable, and (f) recomputed the valuation estimates. We agreed with management’s estimates.

Intangible
Asset Impairment Assessment

As
described in footnote 3, “Intangible Assets” and in footnote 11, “Intangible Assets” to the consolidated financial
statements, the Company’s Intangible Assets included, among others, the Azuñia brand. Intangibles are tested for impairment
if there are indicators of impairment, but at least annually. To assess whether impairment existed for the Azuñia brand, management
performed a quantitative impairment test using the Relief from Royalty method. Determination of the projected revenues attributable to
the brand, royalty rate and discount rate applied to those future cash flows required management to make significant estimates and assumptions.
Changes in these assumptions could have a significant impact on the fair value of the intangible asset and the resulting impairment charge.

We
identified the Azuñia brand intangible impairment assessment as a critical audit matter. Auditing management’s judgments
regarding the assumptions and estimates discussed above involved a high degree of subjectivity.

The
primary procedures we performed to address these critical audit matters included (a) gained an understanding of management’s process
for developing its estimates, (b) assessed the reasonableness of management’s selection of the valuation method, (c) evaluated
the reasonableness of management’s revenue projections by comparing them to historical information and other supporting contracts
or information, (d) evaluated the reasonableness of the royalty rate selected, (e) evaluated the reasonableness of the discount rate,
and (f) recomputed the value. We agreed with management’s impairment assessment in fiscal year 2024.

/s/
Salberg & Company, P.A.

SALBERG
& COMPANY, P.A.

We
have served as the Company’s auditor since 2024.

Boca
Raton, Florida

April
15, 2025

F-3

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM

To
the Board of Directors and

Stockholders
of Beeline Holdings, Inc. (formerly Eastside Distilling,