Company: BLNE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023462
Chunk: 170

Company: Beeline Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 170
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 could cause our actual results to differ may emerge from time to
time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement,
whether as a result of new information, future developments or otherwise, except as may be required by law.

Objective

The
following discussion provides an analysis of the financial condition, cash flows and results of operations from management’s perspective
of Beeline Holdings, Inc. (“Beeline” or the “Company”). Our objective is to provide discussion of events and
uncertainties known to management that are reasonably likely to cause the reported financial information not to be indicative of future
operating results or of future financial condition and to also offer information that provides an understanding of our financial condition,
cash flows and results of operations.

Overview

The
Company was incorporated under the laws of Nevada in 2004.

Merger

On
September 4, 2024, the Company entered into an Agreement and Plan of Merger and Reorganization (the “Merger”) with Bridgetown
Spirits Corp. (“Bridgetown Spirits”) and Beeline Financial Holdings, Inc. (“Beeline Financial”). The Merger closed
on October 7, 2024. On March 12, 2025, the Company changed its name to Beeline Holdings, Inc. (the “Company).

Beeline
Financial was incorporated in Delaware on July 1, 2020 via a merger with Beeline Financial Holdings, Inc., a Rhode Island corporation
founded on September 20, 2018.

Debt
Exchange Agreement

On
September 4, 2024, the Company and its subsidiary, Craft Canning + Printing (“Craft C+P”), entered into a Debt Exchange Agreement,
which closed on October 7, 2024, resulting in the assignment by the Company of 720 barrels of spirits to Craft C+P, followed by the merger
of Craft C+P into a limited liability company owned by certain creditors of the Company and the deconsolidation of Craft C+P. The Company
accounted for the asset and equity transfers associated with the various transactions at fair value in accordance with ASC 470-60, Debt
- Troubled Debt Restructurings by Debtors.

Subsequent
to the execution of the Debt Exchange Agreement, the Company organized a subsidiary, Bridgetown Spirits, which was incorporated on October
3, 2024, and assigned the Company