Company: BLNE
Filing Date: 2025-01-08
Form Type: S-1/A
Source: 0001493152-25-001415
Chunk: 244

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-08
Form: S-1/A
Chunk 244
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 Note when the agreement was signed in March 2024.

LOANS PAYABLE – RELATED PARTY

In July 2023, Beeline received $ 75,000from Fluid Capital in the form of a loan payable. Interest accrues at 12.25%. per annum. This note is due April 2024. As of September 30, 2024 and December 31, 2023, the balance due is $ 78,826and $ 78,826, respectively.

In September 2023, Beeline received $ 310,000and in December 2023, Beeline received $ 130,500Manta Reef (Gulp Data), in the form of loans payable. Interest accrues at 18% per annum. Interest-only payments are made monthly. These loans are due December 2024, As of September 30, 2024 and December 31, 2023, the balance due on these loans is $ 511,502and $ 511,502, respectively.

In November 2023, Beeline received $ 157,500from American Heritage Lending in the form of a loan payable. Interest accrues at 12% per annum. This loan was paid in March 2024. At December 31, 2023, the balance due is $ 161,280.

An officer, director, and shareholder lends money to Beeline throughout the year in the form of loans payable. Interest accrues at 7% per annum. As of September 30, 2024 and December 31, 2023, the balance due is $ 318,104and $ 221,565, respectively.

2022 SUBORDINATED CONVERTIBLE PROMISSORY NOTES ISSUED

In June 2022, the Board of Directors authorized the issuance of three-year, 7%, 2022 Subordinated Convertible Promissory Notes (the “Convertible Notes”) and related Preferred Stock Warrants, up to a total of $ 20,000,000, to investors through March 31, 2024.

Beeline raised total proceeds of $ 17,875,754with Convertible Notes, $ 4,436,238in 2022 and $ 13,439,516in 2023.

In 2023, three investors who made an investment of at least $ 500,000in the 2022 Convertible Notes were entitled to exchange, for no additional consideration, Beeline securities held by