Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 498

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1C
Chunk 498
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 INVENTORIES

Inventories consisted of the following as of December
31:

SCHEDULE OF INVENTORIES 

    (Dollars in thousands) 
    2024  
    2023 
  
    Raw materials 
    $823  
    $1,740 
  
    Finished goods 
     670  
     946 
  
    Total inventories 
    $1,493 
    $2,686 

The Company recorded an inventory provision of $0.1
million for the year ended December 31, 2024.

11. INTANGIBLE ASSETS

Intangible assets consisted of the following as of
December 31:

SCHEDULE OF INTANGIBLE ASSETS 

    (Dollars in thousands) 
    2024  
    2023 
  
    Beeline brand 
    $4,557  
    $- 
  
    Azuñia brand 
     822  
     4,153 
  
    Total intangible assets 
     822  
     4,153 

    Customer list 
     393  
     - 
  
    Permit and license 
     -  
     25 
  
    Total 
     5,772  
     4,178 
  
    Less accumulated amortization 
     (23) 
     - 
  
    Intangible assets 
    $5,749  
    $4,178 

    F-23

Beeline Holdings, Inc.

Notes to Consolidated Financial Statements

December 31, 2024 and 2023

The Beeline and Azuñia brands have been determined
to have an indefinite life and are not amortized. The Company, on an annual basis, tests the indefinite lived assets for impairment. If
the carrying value of an indefinite lived asset is found to be impaired, then the Company will record an impairment loss and reduce the
carrying value of the asset. As of December 31, 2024, the Company determined that the Beeline asset was not impaired. As of December 31,
2024 and 2023, the Company determined that the Azuñia assets were impaired and recorded an impairment of $3.3 million and $0.4
million, respectively.

Customer data has a useful life of four years and
amortization expense was $22,714 for the period October 8, 2024 through December