Company: BLNE
Filing Date: 2025-01-03
Form Type: S-1/A
Source: 0001493152-25-000284
Chunk: 241

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-03
Form: S-1/A
Chunk 241
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 improved. The interest rate is 6%. Beeline recorded debt issuance costs of $ 17,182, which are being amortized over the term of the BDCRI Loan. The BDCRI Loan contains default covenants and prepayment terms and is collateralized and guaranteed by two of the shareholders of Beeline.

LOANS PAYABLE

In 2022, Beeline received $ 100,000from Capital Markets Group in the form of a loan payable. This loan is currently past due. Default interest is accruing at 24% per annum. The balance was paid in full in June 2024. As of September 30, 2024 and December 31, 2023, the balance due is $ 0and $ 60,244, respectively.

| F-98 |

BEELINE FINANCIAL HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENT

September 30, 2024

(Unaudited)

In March 2023, Beeline received $ 30,000from an individual in the form of a loan payable. Interest accrues at 7% per annum. As of September 30, 2024 and December 31, 2023, the balance due is $ 0and $ 31,755, respectively. This note was subsequently reclassified as a Convertible Note when the agreement was signed in March 2024.

LOANS PAYABLE – RELATED PARTY

In July 2023, Beeline received $ 75,000from Fluid Capital in the form of a loan payable. Interest accrues at 12.25%. per annum. This note is due April 2024. As of September 30, 2024 and December 31, 2023, the balance due is $ 78,826and $ 78,826, respectively.

In September 2023, Beeline received $ 310,000and in December 2023, Beeline received $ 130,500Manta Reef (Gulp Data), in the form of loans payable. Interest accrues at 18% per annum. Interest-only payments are made monthly. These loans are due December 2024, As of September 30, 2024 and December 31, 2023, the balance due on these loans is $ 511,502and $ 511,502, respectively.

In November 2023, Beeline received $ 157,500from American Heritage Lending in the