Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 298

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 298
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 branch location and licensing purposes under non-cancelable lease arrangements
that provide for payments on a graduated basis with various expiration dates. Bridgetown Spirits has an operating lease for its warehouse.
Terms of these leases include, in some instances, scheduled rent increases, renewals, purchase options and maintenance costs, and vary
by lease. The Company has leased approximately 27,381 square feet of space in Rhode
Island, Australia and Oregon that expires at various dates through 2030. The Company does not have any financing leases.

As the rate implicit in each lease
is not readily determinable, the Company uses its incremental borrowing rate of 6.1% based on information available at commencement
to determine the present value of the lease payments. Right-of-use assets and lease liabilities are recognized at commencement date
based on the present value of lease payments over the lease term. Leases with an initial term of 12 months or less
(“short-term leases”) are not recorded on the balance sheet and are recognized on a straight-line basis over the lease
term. As of December 31, 2024, the amount of right-of-use assets and lease liabilities were $1.7
million and $1.9
million, respectively. Lease expense for operating leases is recognized on a straight-line basis over the lease term. Aggregate
lease expense for the year ended December 31, 2024 was $0.3
million.

Maturities of lease liabilities as of December 31,
2024 were as follows:

SCHEDULE
OF MATURITIES OF OPERATING LEASE LIABILITIES

    (Dollars in thousands) 
    Operating Leases  
    Weighted-Average Remaining Term in Years 
  
    2025 
    $563  

    2026 
     450  

    2027 
     228  

    2028 
     234  

    2029 
     242  

    Thereafter 
     249  

    Total 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