Company: BLNE
Filing Date: 2025-01-03
Form Type: S-1/A
Source: 0001493152-25-000284
Chunk: 9

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-03
Form: S-1/A
Chunk 9
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’s Common Stock is delisted it would negatively impact the Company’s ability to raise capital, and negatively impact our stockholders’ ability to trade their Common Stock.

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If we fail to obtain the vote to amend our Articles of Incorporation to increase our authorized Common Stock, we will not be able to raise equity capital to fund our ongoing operations, which will impair our ability to remain operational.

We have a very limited number of authorized and unissued shares of our Common Stock, which has impeded our ability to raise capital. Because of our need to raise capital to fund our operations and growth objectives, we will need to seek stockholder approval to amend our Articles of Incorporation to increase our authorized Common Stock to 100 million shares to enable us to conduct capital raising transactions. We plan to seek that approval in a Proxy Statement we will send to our stockholders after we clear that Proxy Statement with the Securities and Exchange Commission (the “SEC”). Amendment of our Articles of Incorporation will require stockholders holding 50.1% of the voting power as of the record date for the meeting to approve the proposal at a special meeting. Because many clearing broker-dealers will not vote the shares of “street name” stockholders, it has been increasingly harder to get stockholder approvals to amend charters. Any delays in having the special meeting or getting the necessary majority vote could make it difficult to raise the necessary capital we need. Ultimately, if we fail to obtain the vote in favor, we will very likely be unable to remain operational, unless our Common Stock no longer trades on Nasdaq.

If we fail to obtain further stockholder approval in order to permit our Series F to convert and vote and permit the Warrants to be exercised, we may face significant challenges including the loss of attention from former Beeline stockholders which could result in a decline in Beeline’s business.

At another stockholders meeting to be held next year, we will also seek stockholder approval for former Beeline stockholders to be able to convert and vote their preferred stock issued in the Merger and also approve the exercise of the Warrants issued to the Selling Stockholders as well as exercises and conversions of other Warrants and shares of the Series G issued in a subsequent private placement offering. The Proxy Statement we use for that meeting will need to comply with the SEC’s merger and acquisitions Proxy Statement rules. These rules require comprehensive and lengthy disclosure about the Beeline Merger including a summary of all telephone calls, emails, texts and written communications between us and Beeline