Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 1131

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 7
Chunk 1131
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 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 December 31, 2024, the Company determined that the Beeline asset was not impaired. As of December 31,
2024 and 2023, the Company determined that the Azuñia assets were impaired and recorded an impairment of $3.3 million and $0.4
million, respectively.

Customer data has a useful life of four years and
amortization expense was $22,714 for the period October 8, 2024 through December 31. The permit and license was fully impaired during
2024.

12. PROPERTY AND EQUIPMENT

Property and equipment consisted of the following
as of December 31:

SCHEDULE OF PROPERTY AND EQUIPMENT

    (Dollars in thousands) 
    2024  
    2023 
  
    Internal-use software 
    $15,225  
    $- 
  
    Furniture and fixtures 
     654  
     625 
  
    Leasehold improvements 
     1,537  
     1,386 
  
    Computers and hardware 
     12  
     - 
  
    Vehicle 
     27  
     27 
  
    Total 
     17,455  
     2,038 
  
    Less accumulated depreciation and amortization 
     (2,680) 
     (1,869)
  
    Total property and equipment, net 
    $14,775  
    $169 

Depreciation expense related to
property and equipment was $0.1
million for both the years ended December 31, 2024 and 2023. Amortization expense related to internal-use software was $0.7
million for the year ended December 31, 2024.

The estimated future amortization expense of internal-use
software as of December 31, 2024 was as follows:

SCHEDULE
OF ESTIMATED FUTURE AMORTIZATION EXPENSE OF INTERNAL-USE SOFTWARE

    (Dollars in thousands) 

    2025 
    $3,045 
  
    2026 
     3,045 
  
    2027 
     3,045 
  
    2028 
     3,045 
  
    2029 
     2,343 
  
    Amortization