Company: BLNE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023462
Chunk: 35

Company: Beeline Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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 million and accrued interest at 7% per annum and is due on demand. This note was subsequently
repaid in January 2025.

13.
SECURED CREDIT FACILITIES

Secured
credit facilities consisted of the following:

 SCHEDULE OF SECURED CREDIT FACILITIES

    (Dollars
    in thousands) 
    September
    30, 2025  
    December
    31, 2024 
  
    Purchase
    agreement 
    $           -  
    $1,938 
  
    Side
    letter 
     -  
     448 
  
    Senior
    secured debentures 
     -  
     3,600 
  
    Total 
     -  
     5,986 
  
    Accrued
    interest 
     -  
     199 
  
    Debt
    issuance costs 
     -  
     (1,719)
  
    Total
    secured credit facilities, net 
    $-  
    $4,466 

Purchase
Agreement

On
November 14, 2024, the Company sold $1.9 million in aggregate principal amount of Senior Secured Notes (the “Notes”) and
Pre-Funded Warrants to purchase a total of 36,360 shares of common stock for total net proceeds of $1.6 million in a private placement
offering (the “Offering”). As of September 30, 2025, debt issuance costs were fully amortized.

In
March 2025, the Company and certain of the holders agreed to an extension of the maturity date to April 14, 2025 in exchange for an increase
to the principal of the notes by 10%, and two lenders were each paid their principal balance plus 2.5% interest of $0.3 million. On April
14, 2025, the Company and the remaining Note holders entered into an agreement for a second extension to May 14, 2025 for an additional
payment in an amount equal to 5% of the outstanding principal of the applicable Notes.

    22

Beeline
                                            Holdings, Inc.

Notes
to Consolidated Financial Statements

September
30, 2025

(Unaudited)

On
May 12, 2025, the Company entered into an agreement with two Note holders to extend the maturity date to August 14, 202