Company: BLNE
Filing Date: 2025-01-17
Form Type: PRE 14A
Source: 0001493152-25-002779
Chunk: 210

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-17
Form: PRE 14A
Chunk 210
---
ualified Financing, at a per share purchase price equal to the lower of (x) 80% of the per share price paid by the investors for the shares issued in such Non-Qualified Financing, and (y) the Valuation Cap PPS.

In 2023, three investors who made an investment of at least $500,000 in the 2022 Convertible Notes were entitled to exchange, for no additional consideration, Beeline Series A Preferred stock held by the investors for 2022 Convertible Notes having the same value as the investor’s existing investment. These three investors exchanged 224,950 shares of Series A Preferred stock for 2022 Convertible Notes having principal amounts totaling $5,206,763. There were no gains or losses on these exchanges.

All Convertible Notes are three-year notes of: $4,436,238 (raised in 2022) maturing in 2025 and $13,439,516 (raised in 2023) maturing in 2026. As of December 31, 2023 and 2022, interest of $965,378 and $77,883, respectively, has accrued on all these notes. At December 31, 2023 and 2022, the balance due on these notes, consisting of related party and non-related party notes, was $17,875,754 and $4,436,238, respectively.

| F-70 |

<div align='center'>Beeline Financial Holdings, Inc.

Notes to Consolidated Financial Statements

December 31, 2023 and 2022</div>

Convertible notes at December 31, were as follows:

Schedule of Convertible Notes

|                                   |     |   |       2023 |     |   |      2022 |
|:----------------------------------|:----|:--|-----------:|:----|:--|----------:|
| Convertible notes                 |     | $ |  8,889,261 |     | $ |   745,238 |
| Convertible notes - related party |     |   |  8,986,493 |     |   | 3,601,000 |
| Total                             |     | $ | 17,875,754 |     | $ | 4,346,238 |

NOTE 9 - RELATED PARTY TRANSACTIONS

Related Party Transactions

Beeline has received, as noted in Note 8 - Loans Payable and Convertible Notes with related parties,