Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 1301

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 1301
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 financial statements,
quarterly unaudited financial statements, and monthly interim unaudited financial statements if requested. The Company is also subject
to loan repurchase provisions as defined in the agreement and certain non-financial covenants. The Company grants to the lender a security
interest in and to all of the Company’s right, title, and interest in and to each mortgage loan in which the lender has acquired
a warehouse interest. As of December 31, 2024, the warehouse line of credit and accrued interest outstanding balance was $6.1 million.
The lender allowed the draws to exceed the $5.0 million line of credit. Interest expense on the warehouse line of credit was $0.1 million
for the period October 8, 2024 through December 31, 2024.

    F-24

Beeline Holdings, Inc.

Notes to Consolidated Financial Statements

December 31, 2024 and 2023

14. NOTES PAYABLE

Notes payable consisted of the following as of December
31:

SCHEDULE OF NOTES PAYABLE

    (Dollars in thousands) 
    2024 
     
    2023

    Promissory notes 
    $- 
     
    $
    7,990

    Notes payable - 2024 
     3,600 

    -

    Note payable - 2023 
     500 

    -

    Term loan agreement 
     275 

    -

    Total 
     4,375 

    7,990

    Accrued interest 
     269 

    52

    Debt discount 
     (651)

    -

    Notes payable, net 
    $3,993 
     
    $
    8,042

On April 1, 2021, Eastside entered into promissory
notes of $7.8 million with the Investors bearing interest of 6.0%. The notes had an original maturity of April 2024. Accrued interest
was paid in accordance with a monthly amortization schedule. These notes were converted or exchanged as part of the Debt Exchange Agreement
on October 7, 2024, further described above in Note 5 - Debt Exchange Agreement.

During 2024, the Company issued notes payable of $3.6
million maturing September 5, 2025 with payments made in nine equal monthly installments of $0.4 million beginning January