Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 1137

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 7
Chunk 1137
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a 120-day promissory note resulted in a gain of $44,833, which is included in gain on extinguishment of debt in the consolidated statements
of operations.

In March 2025, the Company and certain of the holders agreed to an extension
of the maturity date to April 14, 2025 in exchange for an increase to the principal of the notes by 10%, and two lenders were each paid
their principal balance plus 2.5% interest of $0.3 million. On April 14, 2025, the Company and the remaining Note holders entered into
an agreement for a second extension of the maturity dates of the Notes held by such holders to May 14, 2025. The terms of the recent extension
are as follows: (i) if the Notes are paid off on or before April 29, 2025, then there will be no additional principal payment required;
and (ii) if the principal of the applicable Notes are not paid off on or before April 29, 2025 but are paid on or before May 13, 2025,
then an additional payment in an amount equal to 5% of the outstanding principal of the applicable Notes will be due. See Note 25 - Subsequent Events.

    F-26

Beeline Holdings, Inc.

Notes to Consolidated Financial Statements

December 31, 2024 and 2023

2024 Secured Notes

On May 15, 2024, Eastside entered into a Loan Agreement
with the SPV, Aegis, Bigger, District 2, and LDI.

Pursuant to the Loan Agreement, Bigger, District 2
and LDI purchased from Eastside for $1.1 million cash promissory notes in the aggregate principal amount of $1.1 million (the “2024
Secured Notes”). The 2024 Secured Notes may be satisfied by payment of 110% of principal on or before November 29, 2024, by payment
of 130% of principal on or before March 30, 2025 or by payment of 140% of principal on March 31, 2025.

With each 2024 Secured Note, Eastside issued Warrants
to purchase a share of Eastside’s common stock for $50.00 exercisable for five years after December 2, 2024 if on November 29, 2024
the 202