Company: BLNE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024044
Chunk: 3

Company: Beeline Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 3
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 accordance with GAAP have been condensed or eliminated as permitted under the SEC’s rules
and regulations. In management’s opinion, the unaudited consolidated financial statements include all material adjustments,
all of which are of a normal and recurring nature, necessary to present fairly the Company’s financial position as of June 30,
2025, its operating results for the three and six months ended June 30, 2025 and 2024 and its cash flows for the six months ended
June 30, 2025 and 2024. The unaudited consolidated financial statements should be read in conjunction with the audited consolidated
financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. Interim
results are not necessarily indicative of the results that may be expected for an entire fiscal year. All intercompany balances and
transactions have been eliminated on consolidation.

PRINCIPLES
OF CONSOLIDATION

The
consolidated financial statements include the consolidated accounts of the Company and its wholly-owned subsidiaries, Beeline Financial
Holdings, Inc., Beeline Title Holdings, Inc. (“Beeline Title Holdings”), Beeline Mortgage Holdings, Inc. (“Beeline
Mortgage”), Beeline Labs, Inc., and Beeline Loans Pty Ltd. (“Australian Subsidiary”). Intercompany transactions and
balances have been eliminated.

Beeline
Title Holdings has four subsidiaries, Beeline Title, LLC (“Beeline Title”), Beeline Texas Title, LLC (“Beeline Texas
Title”), Beeline Settlement Services, LLC (“Beeline Settlement Services”), and Beeline Title Agency, LLC (“Beeline
Title Agency”). Beeline Mortgage Holdings has one subsidiary, Beeline Loans, Inc. (“Beeline Loans”).

As
of June 30, 2025, the Company had two majority-owned subsidiaries, Nimble Title Holdings, Inc. (“Nimble Title Holdings”)
and Bridgetown Spirits. Nimble Title Holdings is 50.1% owned by the Company and 49.9% owned by a former non-controlling shareholder of
Beeline Financial. Bridgetown Spirits was 53% owned by the Company as of June 30, 2025. On July 25, 2025, the Company disposed
of its 53% interest in Bridgetown Spirits in exchange for the satisfaction of debt and as a result Bridgetown Spirits is no longer a
subsidiary of the Company, see Note