Company: BLNE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024044
Chunk: 61

Company: Beeline Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 61
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, 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 the six months ended June 30, 2025, the Company sold 5,540,043 shares for
gross proceeds of $7.0 million.

40

During
the six months ended June 30, 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.

As
of July 23, 2025, the Company has sold the maximum amounts that were registered under each of the ELOC Agreement and the ATM Agreement.
As a result of the foregoing, the at-the-market offering is now closed. The ELOC Agreement provides for up to $3.0 million in additional
sales of common stock at the Company’s option, subject to the terms and conditions of the ELOC Agreement including registration
requirements therein.

The
Company intends to continue raising capital through a combination of equity and debt financing to meet its internal cash requirements
and to refinance its existing obligations. The availability of additional financing will be largely dependent on our operating success,
including improved gross margins as well as operational improvements, which will be necessary to attract investors. However, there can
be no assurance that the Company will be successful in securing the necessary capital on favorable terms, or at all. The Company has
no material off-balance sheet arrangements as of the date of this filing.

Statements
of Cash Flows. For 2025, our primary capital requirements have been for cash used in operating activities and for the repayment
of debt. Funds for our cash and liquidity needs have historically not been generated from operations but rather from short-term credit
in the form of extended payment terms from suppliers as well as proceeds from loans and the sale of convertible debt and equity. We have
been dependent on raising capital from debt and equity financing to meet our operating needs.

For
the six months ended June 30, 2025 and 2024, net cash used in operating activities of continuing operations increased to $5.6
million from $0.6 million, respectively, primarily due