Company: BLNE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023462
Chunk: 106

Company: Beeline Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 106
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 consolidated
balance sheet as of September 30, 2025.

The
assets and liabilities of Bridgetown Spirits have been classified as held for sale as of December 31, 2024. The operating results of
Bridgetown Spirits and the spirits segment have been classified as discontinued operations during the three and nine months ended September
30, 2025 and 2024, respectively. The consolidated financial statements for the prior periods have been adjusted to reflect comparable
information.

Assets
and liabilities related to Bridgetown Spirits were as follows as of December 31, 2024:

    (Dollars
    in thousands) 
    2024 
  
    Assets 

    Current
    assets: 

    Cash
    and cash equivalents 
    $310 
  
    Inventories 
     1,493 
  
    Prepaid
    expenses and other current assets 
     75 
  
    Accounts
    receivables, net 
     134 
  
    Current
    assets of discontinued operations held for sale 
     2,012 
  
    Intangible
    assets, net 
     822 
  
    Right-of-use
    assets 
     372 
  
    Property
    and equipment, net 
     95 
  
    Other
    assets, net 
     180 
  
    Total
    Assets 
    $3,481 

    Liabilities 

    Current
    liabilities: 

    Accounts
    payable 
    $136 
  
    Accrued
    liabilities 
     170 
  
    Current
    portion of lease liabilities 
     186 
  
    Total
    current liabilities 
     492 
  
    Lease
    liabilities, net of current portion 
     163 
  
    Total
    liabilities 
    $655 

Income
and expense related to Bridgetown Spirits and the spirits segment were as follows for the nine months ended September 30, 2025 and 2024:

    (Dollars
    in thousands) 
    2025  
    2024 

    Net
    sales, spirits 
    $1,143  
    $1,977 
  
    Cost
    of sales, spirits (inclusive of depreciation) 
     956  
     1,476 
  
    Salaries
    and benefits 
     348  
     444 
  
    Marketing
    and advertising