Company: BLNE
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011724
Chunk: 63

Company: Beeline Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 63
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 to meet our working capital needs for the next 12 months. Our ability to meet our ongoing operating
cash needs over the next 12 months will depend, in part, on the success of Beeline Financial in expanding sales and achieving cash-positive
operations. In large part, our ability to meet near-term operating cash needs will depend on our success in securing debt and/or equity
financing as needed.

On December 31, 2024, the Company entered
into entered into a Common Stock Purchase Agreement and related Registration Rights Agreement (collectively, the “ELOC
Agreement”) with an institutional investor (the “Purchaser”) pursuant to which the Company agreed to sell, and the
Purchaser agreed to purchase, up to $35 million of the Company’s common stock, subject to a sale limit of 19.99% of the
outstanding shares of the Company’s common stock. On March 7, 2025, the Company entered into an Amended ELOC Agreement to
reduce the amount from $35 million to $10 million. During March 2025, the Company sold and issued to the Purchaser 1,090,622 shares
of common stock for a purchase price of $2.1 million. Subsequent to March 31, 2025, the Company sold and issued to the Purchaser
912,644 shares of common stock for a purchase price of $1.0 million to the Purchaser.

On April 30, 2025, the Company entered into an
At The Market Offering Agreement (the “ATM Agreement”) with Ladenburg Thalmann & Co., Inc., pursuant to which the Company
may issue and sell over time and from time to time, to or through Ladenburg, up to $7.0 million of shares of the Company’s common
stock. During May 2025, the Company sold 22,295 shares at a weighted average of $1.37 per share for gross proceeds of $30,542.

During
the three months ended March 31, 2025, the Company sold 6,417,159 shares of Series G Preferred Stock and five-year Warrants to purchase
a total of 320,862 shares of common stock for total gross proceeds of $3.3 million.

We
do not have sufficient capital to meet our working capital and debt obligations for the next 12 months, including debt obligations which
come due in 2025. The availability of additional financing will be