Company: BLNE
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011724
Chunk: 106

Company: Beeline Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 106
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 be issued on the consolidated balance sheets as of March 31, 2025.

In
February 2025, the Company issued 13,115
shares of common stock related to a legal settlement agreed upon in October 2024 where $0.1 million was recorded as stock to be issued at December 31, 2024.

The Company issued a cumulative 6,247,126 shares
of common stock as a result of various preferred stock conversions as noted below.

During
the three months ended March 31, 2024, the Company 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.

ELOC
Agreement

On
December 31, 2024, the Company entered into entered into a Common Stock Purchase Agreement and related Registration Rights Agreement
(collectively, the “ELOC Agreement”) with an institutional investor (the “Purchaser”) pursuant to which the Company
agreed to sell, and the Purchaser agreed to purchase, up to $35 million of the Company’s common stock, subject to a sale limit
of 19.99% of the outstanding shares of the Company’s common stock.

On
March 7, 2025, the
Company entered into an Amended ELOC Agreement to reduce the maximum amount under the ELOC Agreement from $35 million to $10
million. During the three months ended March 31, 2025, the Company sold and issued a total of 1,090,622
shares of common stock for an aggregate purchase price of $2.1
million to the Purchaser. The Company recorded offering costs related to the ELOC of $0.1
million as of March 31, 2025.

    23

Beeline
Holdings, Inc.

Notes
to Consolidated Financial Statements

March
31, 2025

(Unaudited)

Preferred
Stock

The
Company has 100 million shares of preferred stock authorized.

Issuance
of Series B Preferred Stock

On
October 19, 2021, the Company entered into a securities purchase agreement (“Purchase Agreement”) with an accredited investor
for its purchase of