Company: BLNE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023462
Chunk: 111

Company: Beeline Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 111
---
eline
    brand
     
    $
          4,557

    $
         4,557

    Customer
    list

    393

    393

    Total

    4,950

    4,950

    Less
    accumulated amortization

    (96
    )

    (23
    )
  
    Intangible
    assets
     
    $
    4,854

    $
    4,927

The
Beeline brand has been determined to have an indefinite life and is not amortized. The Company, on an annual basis, tests the indefinite-lived
asset for impairment. If the carrying value of an indefinite-lived asset is found to be impaired, then the Company will record an impairment
loss and reduce the carrying value of the asset. As of September 30, 2025, the Company determined that the Beeline asset was not impaired.

Customer
data that was acquired in the merger has a useful life of four years and amortization expense was $0.1 million for the nine months ended
September 30, 2025.

9.
PROPERTY AND EQUIPMENT

Property
and equipment consisted of the following:

 SCHEDULE OF PROPERTY AND EQUIPMENT

    (Dollars
    in thousands) 
    September
    30, 2025  
    December
    31, 2024 
  
    Internal-use
    software 
    $15,423  
    $15,225 
  
    Furniture
    and fixtures 
     51  
     28 
  
    Leasehold
    improvements 
     151  
     151 
  
    Computers
    and hardware 
     14  
     12 
  
    Total 
     15,639  
     15,416 
  
    Less
    accumulated depreciation and amortization 
     (3,169) 
     (736)
  
    Total
    property and equipment, net 
    $12,470  
    $14,680 

Depreciation
expense related to property and equipment was $0.1 million and $0 for the nine months ended September 30, 2025 and 2024, respectively.
Amortization expense related to internal-use software was $2.3 million for the nine months ended September 30, 2025.

The
estimated future amortization expense of internal-use software as of September 30,