Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 1142

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 7
Chunk 1142
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12 months or less
(“short-term leases”) are not recorded on the balance sheet and are recognized on a straight-line basis over the lease
term. As of December 31, 2024, the amount of right-of-use assets and lease liabilities were $1.7
million and $1.9
million, respectively. Lease expense for operating leases is recognized on a straight-line basis over the lease term. Aggregate
lease expense for the year ended December 31, 2024 was $0.3
million.

Maturities of lease liabilities as of December 31,
2024 were as follows:

SCHEDULE
OF MATURITIES OF OPERATING LEASE LIABILITIES

    (Dollars in thousands) 
    Operating Leases  
    Weighted-Average Remaining Term in Years 
  
    2025 
    $563  

    2026 
     450  

    2027 
     228  

    2028 
     234  

    2029 
     242  

    Thereafter 
     249  

    Total lease payments 
     1,966  

    Less imputed interest (based on 1.3% weighted-average discount rate) 
     (90) 

    Present value of lease liability 
    $1,876  
     4.48 

19. STOCKHOLDERS’ EQUITY

Reverse Stock Split

All shares and per
share information in these consolidated financial statements were adjusted to give effect to the 1-for-20
reverse stock split of the Company’s common stock effected on May 12, 2023 and has also been retrospectively adjusted to give
effect to the one-for-ten reverse stock split of the Company’s common stock effected on March 12, 2025.

Increase in Authorized Shares 

On January 27, 2025, a Special Meeting of the Stockholders
of the Company was held and stockholders approved an amendment to the Company’s Articles of Incorporation to increase the number
of authorized shares of the Company’s common stock, par value $0.0001 per share, to 100,000,000 from 6,000,000.

2023 Debt Satisfaction Agreement

On September 29, 2023, Eastside entered into a Debt
Satisfaction Agreement (the “DSA”) with the SPV, Aegis, Bigger, District 2, LDI and TQL