Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 300

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 300
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 by Eastside to District 2 in April and May of 2021 was reduced by $1.6 million.

    F-29

Beeline Holdings, Inc.

Notes to Consolidated Financial Statements

December 31, 2024 and 2023

Further pursuant to the DSA:

    ●
    the maturity date of the secured debt listed above as well as unsecured notes issued by Eastside and held by Bigger and District 2 in the aggregate amount of $7.4 million was deferred to March 31, 2025 and the interest rate on all such debt was increased to 8% per annum;

    ●
    Eastside, Aegis, Bigger and District 2 entered into an Intercreditor Agreement, pursuant to which the remaining secured debt obligations of Eastside to Aegis, Bigger and District 2 were made pari passu;

    ●
    the Common Stock Purchase Warrant issued by Eastside to TQLA LLC on March 21, 2022, which permits TQLA LLC to purchase up to 14,583 shares of Eastside’s common stock, was amended to prevent any exercise of the Warrant that would result in the portion of the cumulative voting power in Eastside that the holder and its affiliates may own after the conversion to 9.99%. The Beneficial Ownership Limitation may be increased to 19.99% by the holder upon 61 days advance notice to Eastside.

Issuance of Common Stock

During the year ended December 31, 2024, Eastside
issued 176 shares of common stock to a director to settle $5,379 of accrued compensation. The shares were issued at a contractually agreed
upon price of $30.50 per share. For accounting purposes, the shares were valued at $11.60 per share based upon the closing price on the
date of grant for stock-based compensation of $2,046. During the year ended December 31, 2024, Eastside issued 5,574 shares of common
stock to employees and a consultant for stock-based compensation of $0.1 million at $12.10 per share.

During November 2024, Eastside entered into Securities
Purchase Agreements for the sale of securities consisting of 68,621 shares of common stock for gross proceeds of $0.4 million before deducting
the expenses of the offering.

On October 15, 2024, Eastside issued 18,000 shares