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

Company: Beeline Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 spirits segment have been classified
as discontinued operations during the three and nine months ended September 30, 2025 and 2024, respectively, See Note 4 – Discontinued
Operations. As a result of the merger, the statement of operations for the nine months ended September 30, 2024 represents the new
structure and retrospectively reclassifies discontinued operations. In addition, the senior secured debentures were reclassed from notes
payable to secured credit facilities and stock to be issued related to common stock and Series G preferred stock was presented separately
as of December 31, 2024.

4.
DISCONTINUED OPERATIONS

The
Company reports discontinued operations by applying the following criteria in accordance with ASC 205-20, Presentation of Financial
Statements – Discontinued Operations: (1) Component of an entity; (2) Held for sale criteria; and (3) Strategic shift.

Craft
C+P

The
operating results of Craft C+P have been classified as discontinued operations during the nine months ended September 30, 2024. The consolidated
financial statements for the prior periods have been adjusted to reflect comparable information.

Income
and expense related to Craft C+P were as follows for the nine months ended September 30, 2024:

 SCHEDULE OF DISPOSAL GROUPS, INCLUDING DISCONTINUED OPERATIONS

    (Dollars
    in thousands) 
    2024 
  
    Sales 
    $6,775 
  
    Less
    customer programs and excise taxes 
     117 
  
    Net
    sales 
     6,658 
  
    Cost
    of sales 
     6,322 
  
    Gross
    profit 
     336 
  
    Operating
    expenses: 

    Sales
    and marketing expenses 
     45 
  
    General
    and administrative expenses 
     2,355 
  
    Gain
    on disposal of property and equipment 
     (195)
  
    Total
    operating expenses 
     2,205 
  
    Loss
    from operations 
     (1,869)
  
    Other
    income 
     3 
  
    Net
    loss 
    $(1,866)

    16

Beeline
                                            Holdings, Inc.

Notes
to Consolidated Financial Statements

September
30, 2025

(Unaudited)

Bridgetown
Spirits

On