Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 393

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1B
Chunk 393
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 for the period October 8, 2024 through December 31. The permit and license was fully impaired during
2024.

12. PROPERTY AND EQUIPMENT

Property and equipment consisted of the following
as of December 31:

SCHEDULE OF PROPERTY AND EQUIPMENT

    (Dollars in thousands) 
    2024  
    2023 
  
    Internal-use software 
    $15,225  
    $- 
  
    Furniture and fixtures 
     654  
     625 
  
    Leasehold improvements 
     1,537  
     1,386 
  
    Computers and hardware 
     12  
     - 
  
    Vehicle 
     27  
     27 
  
    Total 
     17,455  
     2,038 
  
    Less accumulated depreciation and amortization 
     (2,680) 
     (1,869)
  
    Total property and equipment, net 
    $14,775  
    $169 

Depreciation expense related to
property and equipment was $0.1
million for both the years ended December 31, 2024 and 2023. Amortization expense related to internal-use software was $0.7
million for the year ended December 31, 2024.

The estimated future amortization expense of internal-use
software as of December 31, 2024 was as follows:

SCHEDULE
OF ESTIMATED FUTURE AMORTIZATION EXPENSE OF INTERNAL-USE SOFTWARE

    (Dollars in thousands) 

    2025 
    $3,045 
  
    2026 
     3,045 
  
    2027 
     3,045 
  
    2028 
     3,045 
  
    2029 
     2,343 
  
    Amortization
    expense of internal use software 
    $14,523 

Beeline’s internal developers created a new
proprietary software, Hive, and launched it in 2024. The most notable feature of the new software is the integration of Bob. The
Company recorded $0.1 million of additional purchases of internal-use software for the period October 8, 2024 through December 31, 2024.

13. WAREHOUSE LINE OF CREDIT

On September 21, 2021, the Company entered into an
agreement with