Company: BLNE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023462
Chunk: 31

Company: Beeline Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 for the nine months ended
September 30, 2025.

9.
PROPERTY AND EQUIPMENT

Property
and equipment consisted of the following:

 SCHEDULE OF PROPERTY AND EQUIPMENT

    (Dollars
    in thousands) 
    September
    30, 2025  
    December
    31, 2024 
  
    Internal-use
    software 
    $15,423  
    $15,225 
  
    Furniture
    and fixtures 
     51  
     28 
  
    Leasehold
    improvements 
     151  
     151 
  
    Computers
    and hardware 
     14  
     12 
  
    Total 
     15,639  
     15,416 
  
    Less
    accumulated depreciation and amortization 
     (3,169) 
     (736)
  
    Total
    property and equipment, net 
    $12,470  
    $14,680 

Depreciation
expense related to property and equipment was $0.1 million and $0 for the nine months ended September 30, 2025 and 2024, respectively.
Amortization expense related to internal-use software was $2.3 million for the nine months ended September 30, 2025.

The
estimated future amortization expense of internal-use software as of September 30, 2025 was as follows:

 SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSE OF INTERNAL-USE SOFTWARE

    (Dollars
    in thousands) 

    2025-Remainder of year 
    $771 
  
    2026 
     3,085 
  
    2027 
     3,085 
  
    2028 
     3,085 
  
    2029 
     2,394 
  
    Amortization
    expense of internal use software 
    $12,420 

Beeline’s
internal developers created a new proprietary software and launched it in 2024. The most notable feature of the new software is the integration
of Beeline’s Chat API “Bob”. The Company recorded $0.2 million of additional purchases of internal-use software for
the nine months ended September 30, 2025.

    20

Beeline
                                            Holdings, Inc.

Notes
to Consolidated Financial Statements

September
30, 2025