Company: BLNE
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011724
Chunk: 32

Company: Beeline Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 Freedman, a Board member of the Company and Beeline Financial,
has an ownership interest. This note was for $0.1 million and accrued interest at 7% per annum and is due on demand. This note was subsequently
repaid in January 2025.

14.
SECURED CREDIT FACILIITES

Secured
credit facilities consisted of the following:

 SCHEDULE OF SECURED CREDIT FACILITIES

    (Dollars in thousands) 
    March 31, 2025  
    December 31, 2024 
  
    Purchase agreement 
    $1,472  
    $1,938 
  
    Side letter 
     493  
     448 
  
    Senior secured debentures 
     2,567  
     3,600 
  
    Total 
     4,532  
     5,986 
  
    Accrued interest 
     -  
     199 
  
    Debt issuance costs 
     (259) 
     (1,719)
  
    Total secured credit facilities, net 
    $4,273  
    $4,466 

Purchase
Agreement

On
November 14, 2024, the Company sold $1.9 million in aggregate principal amount of Senior Secured Notes (the “Notes”) and
Pre-Funded Warrants to purchase a total of 36,360 shares of common stock for total net proceeds of $1.6 million in a private placement
offering (the “Offering”). As of March 31, 2025, debt issuance costs were fully amortized. In March 2025, the Company and
certain of the holders agreed to an extension of the maturity date to April 14, 2025 in exchange for an increase to the principal of
the notes by 10%, and two lenders were each paid their principal balance plus 2.5% interest of $0.3 million.

On
April 14, 2025, the Company and the remaining Note holders entered into an agreement for a second extension of the maturity dates of
the Notes held by such holders to May 14, 2025. The
terms of the recent extension are as follows: (i) if the Notes are paid off on or before April 29, 2025, then there will be no
additional principal payment required; and (ii) if the principal of the applicable Notes are not