Company: BLNE
Filing Date: 2025-01-08
Form Type: S-1/A
Source: 0001493152-25-001415
Chunk: 201

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-08
Form: S-1/A
Chunk 201
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 SALE

Mortgage Loans held for Sale

Beeline sells substantially all of its originated mortgage loans to investors. At December 31, 2023 and 2022, Beeline adjusted its loan balance to estimated fair value based on the eventual sales of loans.

Schedule of Estimated Fair Value Based On Eventual Sale of Loans

|                                             |     |   |      2023 |     |   |      2022 |   |
|:--------------------------------------------|:----|:--|----------:|:----|:--|----------:|:--|
| Mortgage loans held for sale                |     | $ | 2,267,596 |     | $ | 3,104,591 |   |
| Fair value adjustment                       |     |   |    33,416 |     |   |   (81,622 | ) |
| Mortgage loans held for sale, at fair value |     | $ | 2,301,012 |     | $ | 3,022,969 |   |

NOTE 5 - PROPERTY AND EQUIPMENT

Property and Equipment

Property and equipment as of December 31, 2023 and 2022, consisted of the following:

Schedule of Property and Equipment

|                                |     |   |     2023 |   |     |   |     2022 |   |
|:-------------------------------|:----|:--|---------:|:--|:----|:--|---------:|:--|
| Leasehold improvements         |     | $ |  696,894 |   |     | $ |  696,894 |   |
| Furniture and fixtures         |     |   |  129,962 |   |     |   |  129,962 |   |
| Computers and hardware         |     |   |   81,779 |   |     |   |   81,779 |   |
| Property and equipment gross   |     |   |  908,635 |   |     |   |  908,635 |   |
| Less: accumulated depreciation |     |   | (599,942 | ) |     |   | (448,566 | ) |
| Property and equipment, net    |     | $ |  308,693 |   |     | $ |  460,069 |   |

Depreciation expense totaled $ 151,376for the year ended December 31, 2023 and $ 151