Company: BLNE
Filing Date: 2025-01-17
Form Type: PRE 14A
Source: 0001493152-25-002779
Chunk: 48

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-17
Form: PRE 14A
Chunk 48
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 LDI. In consideration for those shares, those four lenders surrendered to Eastside a total of 580,899 shares of Eastside common stock.

Upon completion of the transaction contemplated by the Debt Agreement, Eastside was no longer involved in the business of canning, and presently owns 53% of the capital stock of Spirits, which is in the business of manufacturing and marketing spirits.

Amendment to Articles of Incorporation

On October 7, 2024, Eastside filed with the Nevada Secretary of State a Certificate of Designation of 255,474 shares of Series D and a Certificate of Designation of 200,000 shares of Series E and a Certificate of Designation of 70,000,000 shares of Series F and a Certificate of Designation of 1,000,000 shares of Series F-1.

Appointment of Officer and Directors

Pursuant to the terms of the Merger Agreement, in connection with the closing of the Merger the Board voted to increase the number of members of the Board from four to six and appointed to the vacancies two individuals designated by Beeline: Joseph Freedman and Joseph Caltabiano. In addition, the Eastside Board appointed Christopher Moe, the Chief Financial Officer of Beeline, to serve as the Chief Financial Officer of Eastside. Information concerning the three new members of management is provided under “Management After the Merger.”

In addition, it is anticipated that following shareholder approval of the Merger Share Issuance Proposal (Proposal 1), Geoffrey Gwin, Eastside’s current Chief Executive Officer, will resign and Nicholas Liuzza, Beeline’s Chief Executive Officer, will be appointed as his replacement. Mr. Gwin will remain as Chairman as the Board and will be appointed as Executive Vice President or some other senior officer position.

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Employment Agreement: Chief Executive Officer

The Merger Agreement provided that, as a condition to closing of the Merger, the Employment Agreement between Eastside and Geoffrey Gwin, Eastside’s Chief Executive Officer, would be amended in a manner satisfactory to Eastside, Beeline and Mr. Gwin. Accordingly, immediately prior to the closing of the Merger, Eastside’s Employment Agreement with Geoffrey Gwin was amended as follows:

| (a) | The                                                                                         
 performance bonuses in Employment Agreement were replaced by a cash bonus of $90,000. At    
 Mr. Gwin’s election, the bonus was satisfied by issuance of 180,000 shares of the Company’s 
 common