Company: BLNE
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011724
Chunk: 158

Company: Beeline Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 2
Chunk 158
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, 2025 and 2024; and gross margin as a percentage of sales was 13% for
the three months ended March 31, 2025 and 23% for the three months ended March 31, 2024 primarily due to lower sales volume.

Salaries
and benefits. Salaries and benefits were $0.2 million and $0.1 million for the three months ended March 31, 2025 and 2024, respectively.

Marketing and advertising. Marketing
and advertising were $0.1 million for both the three months ended March 31, 2025 and 2024.

Corporate

    Three Months Ended March 31, 
  
    (Dollars in thousands) 
    2025  
    2024 
  
    Salaries and benefits 
    $1,002  
    $203 
  
    Marketing and advertising 
     3  
     - 
  
    Professional fees 
     1,131  
     45 
  
    General and administrative expenses 
     218  
     102 
  
    Depreciation and amortization 
     24  
     14 
  
    Other operating expenses 
     8  
     - 
  
    Total operating expenses 
     2,386  
     364 
  
    Interest income 
     1  
     - 
  
    Interest expense 
     (1,879) 
     (248)
  
    Loss on equity method investment 
     (75) 
     - 
  
    Other income 
     14  
     1 
  
    Other expense 
     (53) 
     - 
  
    Net loss 
    $(4,378) 
    $(611)

Capital
Resources and Liquidity

Financial Policy. We intend to maintain
a disciplined financial policy and improve our credit metrics, which are critical to our lending partners.

Liquidity
Policy. We maintain a strong focus on liquidity and define our liquidity risk tolerance based on sources and uses to maintain
a sufficient liquidity position to meet our business needs and financial obligations under both normal and stressed conditions. We believe
that our consolidated liquidity and availability under our revolving credit facilities will be sufficient to meet our liquidity needs.

38

Liquidity.
Our primary sources of liquidity consist of cash and cash equivalents, cash flow from our operating businesses, proceeds from asset
sales and dispositions, and short-term borrowing