Company: BLNE
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011724
Chunk: 98

Company: Beeline Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 98
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 INVENTORIES

    (Dollars in thousands) 
    March 31, 2025  
    December 31, 2024 
  
    Raw materials 
    $706  
    $823 
  
    Finished goods 
     701  
     670 
  
    Total inventories 
    $1,407  
    $1,493 

    18

Beeline
Holdings, Inc.

Notes
to Consolidated Financial Statements

March
31, 2025

(Unaudited)

9.
INTANGIBLE ASSETS

Intangible
assets consisted of the following:

 SCHEDULE OF INTANGIBLE ASSETS

    (Dollars in thousands) 
    March 31, 2025  
    December 31, 2024 
  
    Beeline brand 
    $4,557  
    $4,557 
  
    Azuñia brand 
     822  
     822 
  
    Total intangible assets 
     822  
     822 

    Customer list 
     393  
     393 
  
    Total 
     5,772  
     5,772 
  
    Less accumulated amortization 
     (47) 
     (23)
  
    Intangible assets 
    $5,725  
    $5,749 

The
Beeline and Azuñia brands have been determined to have an indefinite life and are not amortized. The Company, on an annual
basis, tests the indefinite-lived assets for impairment. If the carrying value of an indefinite-lived asset is found to be impaired,
then the Company will record an impairment loss and reduce the carrying value of the asset. As of March 31, 2025, the Company
determined that the Beeline asset was not
impaired. As of December 31, 2024, the Company determined that the Azuñia assets were impaired and recorded an impairment of
$3.3
million resulting in the current balance of $0.8 million.

Customer
data that was acquired in the merger, has a useful life of four
years and amortization expense was $24,562
for the three months ended March 31, 2025.

10.
PROPERTY AND EQUIPMENT

Property
and equipment consisted of the following:

 SCHEDULE OF PROPERTY AND EQUIPMENT

    (Dollars in thousands) 
    March 31