Company: BLNE
Filing Date: 2025-01-17
Form Type: PRE 14A
Source: 0001493152-25-002779
Chunk: 171

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-17
Form: PRE 14A
Chunk 171
---
aries

Notes to Consolidated Financial Statements

September 30, 2024

(Unaudited)</div>

The Company paid $11,588and $1.1million in interest on notes for the nine months ended September 30, 2024 and 2023, respectively.

Maturities on notes payable as of September 30, 2024 were as follows:

Schedule of Maturities on Notes payable

| (Dollars in thousands) 
 2024                   
 2025                   
 2026                   
 2027                   
 2028                   
 Thereafter             |     |   |   486 
 7,669 
     - 
     - 
     - 
     - |
|:-----------------------|:----|:--|------:|
| Total                  |     | $ | 8,155 |

13. Secured Credit Facilities

Note Purchase Agreement

On October 7, 2022, the Company entered into a Note Purchase Agreement dated as of October 6, 2022 with Aegis. Pursuant to the Note Purchase Agreement, Aegis purchased from the Company a secured promissory note in the principal amount of $4.5million (the “Aegis Note”). Aegis paid for the Aegis Note by paying $3.3million to TQLA to fully satisfy a secured line of credit promissory note that the Company issued to TQLA on March 21, 2022; and the remaining $1.2million was paid in cash to the Company. The Aegis Note bears interest at 9.25% per annum, payable every three months. The principal amount of the Aegis Note will be payable on March 31, 2025. The Company pledged substantially all of its assets to secure its obligations to Aegis under the Aegis Note.

On September 29, 2023, the Company entered into a Debt Satisfaction Agreement with Aegis and other creditors, pursuant to which the Aegis Note was amended and restated. See: Note 16, Stockholders Equity – Debt Satisfaction Agreement.Principal and interest of $1.9million were exchanged for equity issued to a special purpose vehicle, The B.A.D. Company, LLC (the “SPV ”), in which Aegis holds a 29% interest. As of September 30, 2024, the principal balance of the Aegis Note was $2.6million and interest expense accrued was $0.1million.

6% Secured