Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 1029

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 6
Chunk 1029
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 to mature on April
29, 2026 with an interest rate of 6.0%.
The loan was amended in June 2024 to accelerate the maturity to June 21, 2024, and to change the personal guarantees from two guarantors
to solely the Company’s Chief Executive Officer, as the guarantor. The Company made interest-only payments during 2024 and one
principal payment of $25,000.
As of December 31, 2024, the principal balance was $0.3
million, accrued interest was $2,529
and unamortized debt discount was $4,659.
The Company is in current discussions with a lender to repay the note payable that became past due on June 21, 2024, see Note 25 –
Subsequent Events. This balance is not included in the 2023 consolidated balance sheet due to the Merger closing October 7, 2024,
see Note 4 – Merger.

15. NOTES PAYABLE – RELATED PARTIES

Notes payable, related parties consisted of the following
as of December 31:

SCHEDULE OF NOTES PAYABLE RELATED
PARTIES

    (Dollars in thousands) 
    2024 
     
    2023

    Chief Executive Officer 
    $737 
     
    $
     -

    LDI promissory note 
     - 

    -

    Board member 
     87 

    92

    Total 
     824 

    92

    Accrued interest 
     67 

    -

    Total notes payable, related parties 
    $891 
     
    $
    92

    F-25

Beeline Holdings, Inc.

Notes to Consolidated Financial Statements

December 31, 2024 and 2023

On December 31, 2024, Nicholas Liuzza, the Chief Executive
Officer, loaned $0.7 million to Beeline Loans in exchange for a demand promissory note, which accrues interest at the rate of 8% per annum
and is payable within 15 days of demand notice made by Mr. Liuzza. The funds were held in a restricted account to permit Beeline Loans
to improve its ability to make real estate loans. Subsequent to December 31, 2024, the promissory note was converted to preferred equity,
see Note 25 – Subsequent Events.

On October