Company: BLNE
Filing Date: 2025-01-03
Form Type: S-1/A
Source: 0001493152-25-000284
Chunk: 239

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-03
Form: S-1/A
Chunk 239
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 It significantly changed the loan options user interface and experience for customers. It also introduced a dedicated flow for new loan types and channels. Other changes in Version 4 included additional build out of the Automation Condition Resolution Engine. Version 4 was completed by December 31, 2022, with development starting on Version 5 in early 2023.

As of September 30, 2024 and December 31, 2023, capitalized software development costs consisted of the following:

Schedule of Capitalized Software Development Costs

|                                        |     |   | September 30, 2024 |   |     |   | December 31, 2023 |   |
|:---------------------------------------|:----|:--|-------------------:|:--|:----|:--|------------------:|:--|
| Software development costs capitalized |     | $ |          8,459,328 |   |     | $ |         8,079,821 |   |
| Less accumulated amortization          |     |   |         (4,428,704 | ) |     |   |        (3,216,731 | ) |
| Software development costs, net        |     | $ |          4,030,624 |   |     | $ |         4,863,090 |   |

Amortization expense totaled $ 1,211,973 and $ 1,074,109for the nine months ended September 30, 2024 and 2023, respectively.

| F-97 |

BEELINE FINANCIAL HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENT

September 30, 2024

(Unaudited)

NOTE 7 - WAREHOUSE LINES OF CREDIT

Warehouse Lines of Credit

Beeline engaged with one bank for a line of credit to fund originated loans in the normal course of business. The agreement contains specific financial covenants and requirements that Beeline must analyze on a quarterly basis in order to be compliant with the agreement. The aggregate potential borrowing capacity under the warehouse line of credit is $ 5,000,000as of September 30, 2024.

FIRSTFUNDING, INC.

On October 1, 2022, Beeline entered into an agreement with FirstFunding, Inc. for a $ 5,000,000line. The line automatically renews for successive one-year terms, unless terminated by Beeline or FirstFunding, Inc. The