Company: BLNE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023462
Chunk: 112

Company: Beeline Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 112
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 2025 was as follows:

 SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSE OF INTERNAL-USE SOFTWARE

    (Dollars
    in thousands) 

    2025-Remainder of year 
    $771 
  
    2026 
     3,085 
  
    2027 
     3,085 
  
    2028 
     3,085 
  
    2029 
     2,394 
  
    Amortization
    expense of internal use software 
    $12,420 

Beeline’s
internal developers created a new proprietary software and launched it in 2024. The most notable feature of the new software is the integration
of Beeline’s Chat API “Bob”. The Company recorded $0.2 million of additional purchases of internal-use software for
the nine months ended September 30, 2025.

    20

Beeline
                                            Holdings, Inc.

Notes
to Consolidated Financial Statements

September
30, 2025

(Unaudited)

10.
WAREHOUSE LINE OF CREDIT 

On
September 21, 2021, Beeline Loans entered into an agreement with a lender for a $10.0
million line of credit. The line automatically renews for successive one-year terms, unless terminated by Beeline Loans or the
lender upon 60 days’ notice. The line was renewed on September 30, 2023 with a reduction in available funding from $10.0
million to $5.0
million. The line has further subsequently been renewed with the latest renewal in October 2025, see Note 20 – Subsequent Events. The interest rate is the greater of interest on the underlying loan or 4.25%
- 5.50%,
depending on how many loans Beeline Loans closes per month. Beeline Loans is required to provide the lender with annual audited
financial statements, quarterly unaudited financial statements, and monthly interim unaudited financial statements, if requested.
Beeline Loans is also subject to loan repurchase provisions as defined in the agreement and certain non-financial covenants. Beeline
Loans grants to the lender a security interest in and to all of Beeline Loans’ right, title, and interest in and to each
mortgage loan in which the lender has acquired a warehouse interest. As of September 30, 2025, the warehouse line of credit and