Company: BLNE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023462
Chunk: 46

Company: Beeline Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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 to $1.67 per share as a result of the price protection adjustment related to the conversion of the Series
G Preferred Stock. The Company recorded a deemed dividend related to the Series G Preferred Stock price protection of $1.5 million. The
deemed dividend was computed as the fair value of the embedded conversion option with the reduced conversion price of $1.67 less the
fair value of the embedded conversion option with the original conversion price of $5.10 as computed on the trigger date. See below for
the warrant related deemed dividend allocation and assumptions used in the Black-Scholes model.

During
the nine months ended September 30, 2025, 4,745,371 shares of Series G Preferred Stock were converted into 534,945 shares of common stock.

In
January 2025, the Company issued a consultant 245,098 shares of Series G Preferred Stock as payment for past legal services of $0.1 million
included in stock to be issued on the consolidated balance sheets as of December 31, 2024, and 19,698 shares of Series G Preferred Stock
as payment in 2025.

Stock-Based
Compensation

On
September 8, 2016, the Company adopted the 2016 Equity Incentive Plan (the “2016 Plan”). As of September 30, 2025, there
were 29
options under the 2016 Plan. On February 6, 2025, the 2016
Plan was terminated and replaced with the 2025 Equity Incentive Plan, and on August 1, 2025 the Board of Directors adopted the Amended
and Restated 2025 Equity Incentive Plan (the “2025 Plan”).

2025
Equity Incentive Plan

On
August 1, 2025, the Company’s Board of Directors adopted the 2025 Plan and authorized the 2025 Plan to be submitted to stockholders
of the Company for approval. The 2025 Plan initially authorized 4,588,802 shares of common stock, which was equal to 15% of the outstanding
shares of common stock on a fully-diluted basis available for award under the 2025 Plan. The 2025 Plan provides for an annual increase
to such available number of shares by 5% of the shares of common stock outstanding on a fully-diluted basis each year for a period of
seven years, with the first