Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 828

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 4
Chunk 828
---
 lease payments 
     1,966  

    Less imputed interest (based on 1.3% weighted-average discount rate) 
     (90) 

    Present value of lease liability 
    $1,876  
     4.48 

19. STOCKHOLDERS’ EQUITY

Reverse Stock Split

All shares and per
share information in these consolidated financial statements were adjusted to give effect to the 1-for-20
reverse stock split of the Company’s common stock effected on May 12, 2023 and has also been retrospectively adjusted to give
effect to the one-for-ten reverse stock split of the Company’s common stock effected on March 12, 2025.

Increase in Authorized Shares 

On January 27, 2025, a Special Meeting of the Stockholders
of the Company was held and stockholders approved an amendment to the Company’s Articles of Incorporation to increase the number
of authorized shares of the Company’s common stock, par value $0.0001 per share, to 100,000,000 from 6,000,000.

2023 Debt Satisfaction Agreement

On September 29, 2023, Eastside entered into a Debt
Satisfaction Agreement (the “DSA”) with the SPV, Aegis, Bigger, District 2, LDI and TQLA, LLC. The SPV was a special purpose
vehicle whose equity is shared 50% by Bigger and District 2 and 50% by Aegis and LDI.

Pursuant to the DSA, on September 29, 2023, Eastside
issued to the SPV 29,672 shares of Eastside’s common stock and 200,000 shares of its Series C Preferred Stock, and executed a Registration
Rights Agreement providing that Eastside will register for public resale that common stock and the common stock issuable upon conversion
of the Series C Preferred Stock. In exchange for that equity, Eastside’s debts to the members of the SPV were reduced by a total
of $6.5 million and Eastside recognized a loss on the conversion of $1.3 million for the year ended December 31, 2023. Specifically, the
debt was reduced as follows:

    ●
    the principal balance of the Secured Promissory Note issued by Eastside to Aegis on October 6, 2022 was reduced by $1.9 million;

    ●