Company: BLNE
Filing Date: 2025-01-03
Form Type: S-1/A
Source: 0001493152-25-000284
Chunk: 198

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-03
Form: S-1/A
Chunk 198
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Version 3”. This version will allow proprietary technologies to process underwriting conditions and automating major functions of the business. The basics of Beeline’s “Automation Condition Resolution Engine” was substantially completed in this Version.

“Version 4” was released in May 2022. It significantly changed the loan options user interface and experience for customers. It also introduced a dedicated flow for new loan types and channels. Other changes in Version 4 included additional build out of the Automation Condition Resolution Engine. Version 4 was completed by December 31, 2022, with development starting on Version 5 in early 2023. At December 31, 2023 and 2022, capitalized software development costs consisted of the following:

Schedule of Capitalized Software Development Costs

|                                     |     |   |       2023 |   |     |   |       2022 |   |
|:------------------------------------|:----|:--|-----------:|:--|:----|:--|-----------:|:--|
| Software Development Version 1      |     | $ |  1,725,250 |   |     | $ |  1,725,250 |   |
| Software Development Version 2      |     |   |    821,983 |   |     |   |    821,983 |   |
| Software Development Version 3      |     |   |  3,335,136 |   |     |   |  3,335,136 |   |
| Software Development Version 4      |     |   |  1,438,149 |   |     |   |  1,346,424 |   |
| Software Development Version 5      |     |   |    759,303 |   |     |   |          - |   |
| Capitalized Computer Software Gross |     |   |  8,079,821 |   |     |   |  7,228,793 |   |
| Less: Accumulated Depreciation      |     |   | (3,216,731 | ) |     |   | (1,776,596 | ) |
| Software Development, net           |     | $ |  4,863,090 |   |     | $ |  5,452,197 |   |

Amortization expense totaled $ 1,440,135and $ 1,009,718for the years ended December 31