Company: BLNE
Filing Date: 2025-01-08
Form Type: S-1/A
Source: 0001493152-25-001415
Chunk: 81

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-08
Form: S-1/A
Chunk 81
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 non-cash $1.3 million loss on the debt to equity conversion that we implemented on September 29, 2023.

Net loss was $7.5 million and $16.3 million for the years ended December 31, 2023 and 2022, respectively, after recording impairment charges of $0.4 million and $7.5 million on the value of the Azuñia assets for the years ended December 31, 2023 and 2022, respectively. During the year ended December 31, 2023, we recognized a loss on the debt to equity conversion of $1.3 million.

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BeelineResults of Operations

Overview

Beeline is a full service Direct-to-Consumer lender specializing in conventional conforming and non-conforming residential first-lien mortgages and providing title services. Beeline also has an emerging business in anonymized data sales and technology licensing.

Year ended December 31, 2023 Compared to the Year Ended December 31, 2022

Beeline generates revenue through the production and sale of mortgage loans and other product offerings. The revenue and mix of revenue as a percentage of total revenue attributable to Beeline’s sale of mortgage loan production, title and data and tech sales for the years ended December 31, 2023 and 2022 was as follows:

|                               |     | YEARS              
 ENDED DECEMBER 31, 
 2023               
 Amounts            |           |     | Percentages |    |   |     | 2022    
 Amounts |           |     | Percentages |    |   |
|:------------------------------|:----|:-------------------|----------:|:----|:------------|---:|:--|:----|:--------|----------:|:----|:------------|---:|:--|
| Mortgage Loan Production, Net |     | $                  | 3,231,436 |     |             | 85 | % |     | $       | 2,225,041 |     |             | 76 | % |
| Title                         |     |                    |   559,762 |     |             | 15 | % |     |         |   722,703 |     |             | 24 | % |
| Data & Tech                   |     |                    |     2,748 |     |             | -% |   |     |         |         - |     |             |  - | % |
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