Company: BLNE
Filing Date: 2025-01-03
Form Type: S-1/A
Source: 0001493152-25-000284
Chunk: 168

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-03
Form: S-1/A
Chunk 168
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 any dilutive items. Potentially dilutive securities consist of the incremental common stock issuable upon exercise of stock options, convertible notes and warrants. Potentially dilutive securities are excluded from the computation if their effect is anti-dilutive. There were noanti-dilutive common shares included in the calculation of income (loss) per common share as of September 30, 2024 and 2023.

16. Stockholders’ Equity

Debt Satisfaction Agreement

On September 29, 2023, the Company entered into a Debt Satisfaction Agreement (the “DSA”) with the SPV, Aegis, Bigger, District 2, LDI and TQLA, LLC. The SPV is a special purpose vehicle whose equity is shared 50% by Bigger and District 2 and 50% by Aegis and LDI.

Pursuant to the DSA, on September 29, 2023, the Company issued to the SPV 296,722shares of the Company’s common stock and 200,000shares of its Series C Preferred Stock, and executed a Registration Rights Agreement providing that the Company will register for public resale that common stock and the common stock issuable upon conversion of the Series C Preferred Stock. In exchange for that equity, the Company’s debts to the members of the SPV were reduced by a total of $ 6.5million and the Company recognized a loss on the conversion of $ 1.3 million for the year ended December 31, 2023. Specifically, the debt was reduced as follows:

| ● | the                                                                                                                                  
 principal balance of the Secured Promissory Note issued by the Company to Aegis on October 6, 2022 was reduced by $1.9               
 million;                                                                                                                             |
| ● | the                                                                                                                                  
 Company’s debt to LDI of $1.4                                                                                                        
 million arising from advances made by LDI                                                                                            
 to the Company during the past 10 months was eliminated;                                                                             |
| ● | the                                                                                                                                  
 aggregate principal balance of the Secured Convertible Promissory Notes issued by the Company to Bigger in April and May of 2021     
 was reduced by $1.6                                                                                                                  
 million; and                                                                                                                         |
| ● | the                                                                                                                                  
 aggregate principal balance of the Secured Convertible Promissory Notes issued by the Company to District 2 in April and May of 2021 
 was reduced by $1.6                                                                                                                  
 million.                                                                                                                             |

| F