Company: BLNE
Filing Date: 2025-01-03
Form Type: S-1/A
Source: 0001493152-25-000284
Chunk: 221

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-03
Form: S-1/A
Chunk 221
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December 31, 2023 and 2022

NOTE 15 – RESTATEMENT OF FINANCIALS

Restatement of Financials

The Company has restated its consolidated financial statements for certain errors. In addition, a 10 for 1 forward stock split was retrospectively applied to the restated consolidated financial statements. This retrospective application is not considered a restatement. Below is a reconciliation from the previously reported consolidated financial statements to the restated amounts in the accompanying consolidated financial statements.

The previously reported amounts were included in a Form 8-K filed on November 21, 2024 of Eastside Distilling, Inc., who acquired the Company on October 7, 2024.

Schedule of Error Corrections and Prior Period Adjustments

BEELINE FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

|                                                                  |     | As                   
 previously reported  
 As                   
 of December 31, 2023 |             |   |     | Restatement 
 adjustment  |          |   |     | As       
 restated |             |   |
|:-----------------------------------------------------------------|:----|:---------------------|------------:|:--|:----|:------------|---------:|:--|:----|:---------|------------:|:--|
|                                                                  |     | As                   
 previously reported  |             |   |     | Restatement 
 adjustment  |          |   |     | As       
 restated |             |   |
| Assets                                                           |     |                      |             |   |     |             |          |   |     |          |             |   |
| Current Assets                                                   |     |                      |             |   |     |             |          |   |     |          |             |   |
| Cash and cash equivalents                                        |     | $                    |     190,357 |   |     | $           | (187,006 | ) |     | $        |       3,351 |   |
| Restricted cash                                                  |     |                      |           - |   |     |             |  187,006 |   |     |          |     187,006 |   |
| Accounts Receivable, net                                         |     |                      |      57,970 |   |     |             |  (57,970 | ) |     |          |           - |   |
| Mortgage loans held for sale, at fair value                      |     |                      |   2,243,043 |