Company: BLNE
Filing Date: 2025-01-17
Form Type: PRE 14A
Source: 0001493152-25-002779
Chunk: 166

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-17
Form: PRE 14A
Chunk 166
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4, the Company’s internal management financial reporting consisted of Bridgetown and corporate. The Bridgetown brands span several alcoholic beverage categories, including whiskey, vodka, rum, and tequila and are sold on a wholesale basis to distributors in open states, and to brokers in control states. The Company’s principal area of operation is in the U.S. It has one Bridgetown customer that represents 67% of its revenue. Corporate consists of key executive and accounting personnel and corporate expenses such as public company and board costs, as well as interest on debt.

The measure of profitability reviewed are condensed statements of operations and gross margins. These business segments reflect how operations are managed, operating performance is evaluated and the structure of internal financial reporting. Total asset information by segment is not provided to, or reviewed by, the chief operating decision maker (“CODM”) as it is not used to make strategic decisions, allocate resources or assess performance. The accounting policies of the segments are the same as those described for the Company in the Summary of Significant Accounting Policies in Note 3.

Segment information was as follows for the nine months ended September 30:

Schedule of Segment Information

| (Dollars           
 in thousands)      
 Bridgetown         |     | 2024 |        |   |     | 2023 |        |   |
|:-------------------|:----|:-----|-------:|:--|:----|:-----|-------:|:--|
| Sales              |     | $    |  2,106 |   |     | $    |  3,080 |   |
| Net                
 sales              |     |      |  1,977 |   |     |      |  2,939 |   |
| Cost               
 of sales           |     |      |  1,476 |   |     |      |  1,940 |   |
| Gross              
 profit             |     |      |    501 |   |     |      |    999 |   |
| Total              
 operating expenses |     |      |    698 |   |     |      |  1,183 |   |
| Net                
 loss               |     |      |   (162 | ) |     |      |   (130 | ) |
| Gross              
 margin             |     |      |     25 | % |     |      |     34 | % |
| Depreciation       
 and amortization   |     |      |     99 |