Company: BLNE
Filing Date: 2025-01-08
Form Type: S-1/A
Source: 0001493152-25-001415
Chunk: 165

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-08
Form: S-1/A
Chunk 165
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. As the rate implicit in each lease is not readily determinable, the Company uses its incremental borrowing rate based on information available at commencement to determine the present value of the lease payments. Right-of-use assets and lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Leases with an initial term of 12 months or less (“short-term leases”) are not recorded on the balance sheet and are recognized on a straight-line basis over the lease term. As of September 30, 2024, the amount of right-of-use assets and lease liabilities were each $ 0.4 million. Aggregate lease expense for the nine months ended September 30, 2024 was $ 0.2million, consisting of $ 0.1million in operating lease expense for lease liabilities and $ 0.1 million in short-term lease cost.

Maturities of lease liabilities as of September 30, 2024 were as follows:

Schedule of Maturities of Operating Lease Liabilities

| (Dollars                        
 in thousands)                   |     | Operating 
 Leases    |     |   |     | Weighted- Average Remaining Term 
 in Years                         |      |
|:--------------------------------|:----|:----------|----:|:--|:----|:---------------------------------|-----:|
| 2024                            |     | $         |  58 |   |     |                                  |      |
| 2025                            |     |           | 210 |   |     |                                  |      |
| 2026                            |     |           | 164 |   |     |                                  |      |
| 2027                            |     |           |   - |   |     |                                  |      |
| 2028                            |     |           |   - |   |     |                                  |      |
| Thereafter                      |     |           |   - |   |     |                                  |      |
| Total                           
 lease payments                  |     |           | 432 |   |     |                                  |      |
| Less                            
 imputed interest (based on 6.1% 
 weighted-average discount rate) |     |           | (28 | ) |     |                                  |      |
| Present                         
 value of lease liability        |     | $         | 404 |   |     |                                  | 2.06 |

12. Notes Payable

Notes payable consisted of the following:

Schedule of Notes Payable

| (Dollars