Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 1338

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 1338
---
 multiple level of review over accounting financial reporting process due to the small size of its accounting staff.

    ●
    The Company does not have sufficient written documentation of our internal control policies and procedures.

    ●
    The Company’s human resources, processes and systems are not sufficient to enable the production of timely and accurate financial statements in accordance with GAAP.

We plan to rectify these weaknesses by implementing
written policies and procedures for our internal control of financial reporting, and hiring additional accounting personnel at such time
as we have sufficient financial and human capital resources to do so.

This Report does not include an attestation report
of our independent registered public accounting firm regarding internal control over financial reporting. We were not required to have,
nor have we, engaged our independent registered public accounting firm to perform an audit of internal control over financial reporting
pursuant to the rules of the SEC that permit us to provide only management’s report in this Report.

Changes in Internal Control Over Financial Reporting

No changes in the Company’s internal control
over financial reporting occurred during the quarter ended December 31, 2024 that have materially affected, or are reasonably likely to
materially affect, the Company’s internal control over financial reporting.

58

Item 9B. OTHER INFORMATION

Note Extension

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 paid off on or before April
29, 2025 but are paid on or before May 13, 2025, then an additional payment in an amount equal to 5% of the outstanding principal of the
applicable Notes will be due.

Trading Arrangements

During the quarter ended December 31, 2024, no director
or officer adopted or terminated any Rule 10b