Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 991

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 6
Chunk 991
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. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We
conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud.
The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part
of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing
an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our
audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether
due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence
regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles
used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements.
We believe that our audits provide a reasonable basis for our opinion.

    /s/
    M&K CPAS, PLLC

    We
    have served as the Company’s auditor from 2017 to 2024.

    The
    Woodlands, TX

    April
    1, 2024 except for except for presentation of discontinued operations and note 6 for the date which is January 3, 2025

F-4

Beeline Holdings, Inc. and Subsidiaries

Consolidated Balance Sheets

December 31, 2024 and 2023

(Dollars in thousands, except share and per share
data)

    2024  
    2023 
  
    Assets 

    Current assets: 

    Cash and cash equivalents 
    $391  
    $306 
  
    Restricted cash 
     791  
     - 
  
    Mortgage loans held for sale, net, at fair value 
     6,925  
     - 
  
    Inventories 
     1,493  
     2,686 
  
    Interest rate lock commitment derivative 
     18  
     - 
  
    Prepaid expenses and other current assets 
     288  
     114