Company: BLNE
Filing Date: 2025-01-17
Form Type: PRE 14A
Source: 0001493152-25-002779
Chunk: 205

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-17
Form: PRE 14A
Chunk 205
---
 user interface and experience for customers. It also introduced a dedicated flow for new loan types and channels. Other changes in Version 4 included additional build out of the Automation Condition Resolution Engine. Version 4 was completed by December 31, 2022, with development starting on Version 5 in early 2023. At December 31, 2023 and 2022, capitalized software development costs consisted of the following:

Schedule of Capitalized Software Development Costs

|                                     |     |   |       2023 |   |     |   |       2022 |   |
|:------------------------------------|:----|:--|-----------:|:--|:----|:--|-----------:|:--|
| Software Development Version 1      |     | $ |  1,725,250 |   |     | $ |  1,725,250 |   |
| Software Development Version 2      |     |   |    821,983 |   |     |   |    821,983 |   |
| Software Development Version 3      |     |   |  3,335,136 |   |     |   |  3,335,136 |   |
| Software Development Version 4      |     |   |  1,438,149 |   |     |   |  1,346,424 |   |
| Software Development Version 5      |     |   |    759,303 |   |     |   |          - |   |
| Capitalized Computer Software Gross |     |   |  8,079,821 |   |     |   |  7,228,793 |   |
| Less: Accumulated Depreciation      |     |   | (3,216,731 | ) |     |   | (1,776,596 | ) |
| Software Development, net           |     | $ |  4,863,090 |   |     | $ |  5,452,197 |   |

Amortization expense totaled $1,440,135 and $1,009,718 for the years ended December 31, 2023 and 2022, respectively.

| F-67 |

<div align='center'>Beeline Financial Holdings, Inc.

Notes to Consolidated Financial Statements

December 31, 2023 and 2022</div>

NOTE 7 - WAREHOUSE LINES OF CREDIT

Warehouse Lines