Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 367

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1B
Chunk 367
---
    Restricted cash 
     791  
     - 
  
    Total cash and cash equivalents and restricted cash 
    $1,182  
    $306 

The accompanying notes are an integral part of these
consolidated financial statements.

F-8

Beeline Holdings, Inc.

Notes to Consolidated Financial Statements

December 31, 2024 and 2023

1. NATURE OF BUSINESS

Eastside Distilling (“Eastside”) was incorporated
under the laws of Nevada in 2004 under the name of Eurocan Holdings, Ltd. In December 2014, Eastside changed its corporate name to Eastside
Distilling, Inc. to reflect the acquisition of Eastside Distilling, LLC.

Merger

On September 4, 2024, Eastside entered into an Agreement
and Plan of Merger and Reorganization (the “Merger”) with Bridgetown Spirits Corp. (“Bridgetown Spirits”) and
Beeline Financial Holdings, Inc. (“Beeline Financial”). The Merger closed on October 7, 2024. On March 12, 2025, Eastside
changed its name to Beeline Holdings, Inc. (the “Company,” and together with its consolidated subsidiaries, “Beeline,”
“we”, “us”, “our”), see Note 4, Merger.

Beeline Financial was incorporated
in Delaware on July 1, 2020 via a merger with Beeline Financial Holdings, Inc., a Rhode Island corporation founded on September 20, 2018.
Beeline is an Artificial Intelligence (“AI”)-driven fintech mortgage lender that develops proprietary software in the
form of major enhancements and new developments in its lending platform, introducing its Chat Application Programming Interface
(“API”) “Bob” in July 2023.

Debt Exchange Agreement

On September 4, 2024, Eastside and its subsidiary,
Craft Canning + Printing (“Craft C+P”), entered into a Debt Exchange Agreement (the “Debt Exchange Agreement”),
which closed on October 7, 2024, resulting in the assignment by Eastside of 720 barrels of spirits to Craft C+P, followed by the merger
of Craft C+P into a limited liability company owned by certain creditors of the Company and the deconsolidation of Craft C+P, see Note
5 - Debt Exchange Agreement and Note 6 - Discontinued Operations.

Subsequent to the execution of the Debt