Company: BLNE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024044
Chunk: 15

Company: Beeline Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 15
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 beginning after December 15, 2026, and interim periods within fiscal years beginning
after December 15, 2027, with early adoption permitted. The Company does not expect the adoption of this new guidance to have a material
impact on the financial statements.

RECLASSIFICATION
OF PRIOR YEAR PRESENTATION

Certain
prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on
the reported results of operations or cash flows. The assets and liabilities of Bridgetown Spirits and the spirits segment have been
classified as held for sale as of June 30, 2025 and December 31, 2024, respectively. The operating results of Bridgetown Spirits and
the spirits segment have been classified as discontinued operations during the three and six months ended June 30, 2025 and 2024, respectively,
See Note 4 – Discontinued Operations. As a result of the merger, the statement of operations for the six months ended June
30, 2024 represents the new structure and retrospectively reclassifies discontinued operations. In addition, the senior secured debentures
were reclassed from notes payable to secured credit facilities and stock to be issued related to common stock and preferred stock Series
G was presented separately as of December 31, 2024.

4.
DISCONTINUED OPERATIONS

The
Company reports discontinued operations by applying the following criteria in accordance with ASC 205-20, Presentation of Financial
Statements – Discontinued Operations: (1) Component of an entity; (2) Held for sale criteria; and (3) Strategic shift.

Craft
C+P

The
operating results of Craft C+P have been classified as discontinued operations during the six months ended June 30, 2024. The consolidated
financial statements for the prior periods have been adjusted to reflect comparable information.

    15

Beeline Holdings, Inc.

Notes to Consolidated Financial Statements

June 30, 2025

(Unaudited)

Income
and expense related to Craft C+P were as follows for the six months ended June 30, 2024:

 SCHEDULE OF DISPOSAL GROUPS, INCLUDING DISCONTINUED OPERATIONS

    (Dollars in thousands) 
    2024 
  
    Sales 
    $4,225 
  
    Less customer programs and excise taxes 
     79 
  
    Net sales 
     4,146