Company: BLNE
Filing Date: 2025-01-08
Form Type: S-1/A
Source: 0001493152-25-001415
Chunk: 134

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-08
Form: S-1/A
Chunk 134
---
                       
 property and equipment, net |               | $ |    169 |   |     | $ |    255 |   |       |

Purchases of property and equipment totaled $ 0.1million and $ 0for the years ended December 31, 2023 and 2022, respectively. Depreciation expense totaled $ 0.1million for both the years ended December 31, 2023 and 2022.

During the year ended December 31, 2023, the Company disposed of fixed assets for proceeds of $ 0.1million with a net book value of $ 0.1million resulting in a loss of $ 2,962.During the year ended December 31, 2022, the Company disposed of fixed assets with a net book value of $ 6,230resulting in a loss on disposal of fixed assets of $ 6,230. During the year ended December 31, 2022, the Company wrote off obsolete fixed assets with a net book value of $ 5,270.

| F-18 |

Eastside Distilling, Inc. and Subsidiaries

Notes to Consolidated Financial Statements

December 31, 2023

9.Intangible Assets

Intangible assets consisted of the following as of December 31:

Schedule of Intangible Assets

|                      | (Dollars in thousands) |   |  2023 |     |   |  2022 |
|:---------------------|:-----------------------|:--|------:|:----|:--|------:|
| Permits and licenses |                        | $ |    25 |     | $ |    25 |
| Azuñia brand         |                        |   | 4,153 |     |   | 4,492 |
| Intangible assets    |                        | $ | 4,178 |     | $ | 4,517 |

The permits and licenses and the Azuñia brand have all been determined to have an indefinite life and will not be amortized. The Company, on an annual basis, tests the indefinite life assets for impairment. If the carrying value of an indefinite life asset is found to be impaired, then the Company will record an impairment loss and reduce the carrying value of the asset. As of December 31, 2023 and 2022, the Company determined that the Azuñia assets were impaired and recorded an impairment cost of $ 0.4million