Company: BLNE
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011724
Chunk: 94

Company: Beeline Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 94
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. As a result of the merger, the statement of operations for the three months ended March 31,
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 preferred stock Series G 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. The
operating results of Craft C+P have been classified as discontinued operations during the three months ended March 31, 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 three months ended March 31:

 SCHEDULE OF DISPOSAL GROUPS, INCLUDING DISCONTINUED OPERATIONS

    (Dollars in thousands) 
    2024 
  
    Sales 
    $1,849 
  
    Less customer programs and excise taxes 
     35 
  
    Net sales 
     1,814 
  
    Cost of sales 
     1,766 
  
    Gross profit 
     48 
  
    Operating expenses: 

    Sales and marketing expenses 
     17 
  
    General and administrative expenses 
     741 
  
    Gain on disposal of property and equipment 
     (120)
  
    Total operating expenses 
     638 
  
    Loss before income taxes 
     (590)
  
    Provision for income taxes 
     - 
  
    Net loss from discontinued operations 
    $(590)

    16

Beeline
Holdings, Inc.

Notes
to Consolidated Financial Statements

March
31, 2025

(Unaudited)

5.
BUSINESS SEGMENTS

The
Company’s CODM, the Chief Executive Officer, evaluates how the Company views and measures its performance. ASC 280, Segment
Reporting establishes the standards for reporting information about segments in financial statements. After consideration of this
criteria, the CODM has determined that there are three reportable segments, consisting of Beeline, Bridgetown Spirits and Corporate.

Beeline
is an AI-driven fintech mortgage lender