Company: BLNE
Filing Date: 2025-01-08
Form Type: S-1/A
Source: 0001493152-25-001415
Chunk: 240

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-08
Form: S-1/A
Chunk 240
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|------------------:|
| Mortgage loans held for sale                |     | $ |          6,116,847 |     | $ |         2,267,596 |
| Fair value adjustment                       |     |   |            154,704 |     |   |            33,416 |
| Mortgage loans held for sale, at fair value |     | $ |          6,271,551 |     | $ |         2,301,012 |

| F-96 |

BEELINE FINANCIAL HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENT

September 30, 2024

(Unaudited)

NOTE 5 - PROPERTY AND EQUIPMENT

Property and Equipment

Property and equipment as of September 30, 2024 and December 31, 2023, consisted of the following:

Schedule of Property And Equipment

|                               |     |   | September 30, 2024 |   |     |   | December 31, 2023 |   |
|:------------------------------|:----|:--|-------------------:|:--|:----|:--|------------------:|:--|
| Leasehold improvements        |     | $ |            696,894 |   |     | $ |           696,894 |   |
| Furniture and fixtures        |     |   |            129,962 |   |     |   |           129,962 |   |
| Computers and hardware        |     |   |             81,779 |   |     |   |            81,779 |   |
| Property and equipment gross  |     |   |            908,635 |   |     |   |           908,635 |   |
| Less accumulated depreciation |     |   |           (713,474 | ) |     |   |          (599,942 | ) |
| Property and equipment, net   |     | $ |            195,161 |   |     | $ |           308,693 |   |

Depreciation expense totaled $ 113,532 and $ 113,532for the nine months ended September 30, 2024 and 2023, respectively.

NOTE 6 - CAPITALIZED SOFTWARE DEVELOPMENT COSTS

Capitalized Software Development Costs

Beeline released its proprietary software “Hexagon” in May 2020.

Beeline continues to use the “Hexagon” software for processing mortgages of commercial and