Company: BLNE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023462
Chunk: 115

Company: Beeline Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 115
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 2024, Nicholas Liuzza, the Company’s Chief Executive Officer, loaned $0.7
million to Beeline Loans in exchange for a demand promissory note, which accrues interest at the rate of 8% per annum and is payable
within 15 days of a demand notice made by Mr. Liuzza. The funds were held in a restricted account to permit Beeline Loans to improve
its ability to make real estate loans. On February 17, 2025, he converted the $0.7 million bridge loan into $0.7 million of units comprised
of 1,372,549 shares of Series G Preferred Stock and five-year Warrants to purchase a total of 68,628 shares. During September 2025, the
principal balance and accrued interest was fully repaid.

In
July 2023, Beeline Financial issued a note to a private company in which Joseph Freedman, a Board member of the Company and Beeline Financial,
has an ownership interest. This note was for $0.1 million and accrued interest at 7% per annum and is due on demand. This note was subsequently
repaid in January 2025.

13.
SECURED CREDIT FACILITIES

Secured
credit facilities consisted of the following:

 SCHEDULE OF SECURED CREDIT FACILITIES

    (Dollars
    in thousands) 
    September
    30, 2025  
    December
    31, 2024 
  
    Purchase
    agreement 
    $           -  
    $1,938 
  
    Side
    letter 
     -  
     448 
  
    Senior
    secured debentures 
     -  
     3,600 
  
    Total 
     -  
     5,986 
  
    Accrued
    interest 
     -  
     199 
  
    Debt
    issuance costs 
     -  
     (1,719)
  
    Total
    secured credit facilities, net 
    $-  
    $4,466 

Purchase
Agreement

On
November 14, 2024, the Company sold $1.9 million in aggregate principal amount of Senior Secured Notes (the “Notes”) and
Pre-Funded Warrants to purchase a total of 36,360 shares of common stock for total net proceeds of $1.6 million