Company: BLNE
Filing Date: 2025-01-17
Form Type: PRE 14A
Source: 0001493152-25-002779
Chunk: 203

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-17
Form: PRE 14A
Chunk 203
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): Improvements to Reportable Segment Disclosures, which requires enhanced disclosure of significant segment expenses on an annual and interim basis. The ASU is effective on a retrospective basis for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company will adopt ASU 2023-7 beginning with its fiscal year ended December 31, 2024.

In December 2023, the FASB issued ASU 2023-9, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2024, and early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The Company will include the required disclosures in its condensed consolidated financial statements once adopted.

NOTE 4 – MORTGAGE LOANS HELD FOR SALE

Mortgage Loans held for Sale

Beeline sells substantially all of its originated mortgage loans to investors. At December 31, 2023 and 2022, Beeline adjusted its loan balance to estimated fair value based on the eventual sales of loans.

Schedule of Estimated Fair Value Based On Eventual Sale of Loans

|                                             |     |   |      2023 |     |   |      2022 |   |
|:--------------------------------------------|:----|:--|----------:|:----|:--|----------:|:--|
| Mortgage loans held for sale                |     | $ | 2,267,596 |     | $ | 3,104,591 |   |
| Fair value adjustment                       |     |   |    33,416 |     |   |   (81,622 | ) |
| Mortgage loans held for sale, at fair value |     | $ | 2,301,012 |     | $ | 3,022,969 |   |

NOTE 5 - PROPERTY AND EQUIPMENT

Property and Equipment

Property and equipment as of December 31, 2023 and 2022, consisted of the following:

Schedule of Property and Equipment

|                                |     |   |     2023 |   |     |   |     2022 |   |
|:-------------------------------|:----|:--|---------:|:--|