Company: BLNE
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011724
Chunk: 31

Company: Beeline Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 Beeline Financial made interest-only payments during 2024.
As of March 31, 2025, the principal balance was $0.3
million and unamortized debt discount was $3,786.
Beeline Financial is in current discussions with the lender to extend this term loan agreement. 

    20

Beeline
Holdings, Inc.

Notes
to Consolidated Financial Statements

March
31, 2025

(Unaudited)

13.
NOTES PAYABLE – RELATED PARTIES

Notes
payable, related parties consisted of the following:

 SCHEDULE OF NOTES PAYABLE RELATED PARTIES

    (Dollars in thousands) 
    March 31, 2025  
    December 31, 2024 
  
    Chief Executive Officer 
    $122  
    $737 
  
    Board member 
     -  
     87 
  
    Total 
     122  
     824 
  
    Accrued interest 
     -  
     67 
  
    Total notes payable, related parties 
    $122  
    $891 

In
February and March of 2025, Mr. Liuzza advanced the Company a total of $122,241
which the Company used for working capital and general corporate purposes. In exchange for these advances, on April 25, 2025, the
Board of Directors approved the advances as loans, and the Company issued Mr. Liuzza a promissory note which bears interest at a
rate of 8%
per annum and is payable on demand. On December 31, 2024, Nicholas Liuzza, the Company’s Chief Executive Officer, loaned
$0.7
million to Beeline Loans in exchange for a demand promissory note, which accrues interest at the rate of 8%
per annum and is payable within 15 days of a demand notice made by Mr. Liuzza. The funds were held in a restricted account to permit
Beeline Loans to improve its ability to make real estate loans. On February 17, 2025, he converted the $0.7
million bridge loan into $0.7
million of units comprised of 1,372,549
shares of Series G Preferred Stock and five-year Warrants to purchase a total of 68,628
shares.

In
July 2023, Beeline Financial issued a note to a private company in which Joseph