Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 357

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1B
Chunk 357
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eline Holdings, Inc. (formerly Eastside Distilling, Inc.)

Opinion
on the Financial Statements

We
have audited the accompanying consolidated balance sheet of Beeline Holdings, Inc and subsidiaries (formerly Eastside Distilling, Inc.)
(the Company) as of December 31, 2023, and the related consolidated statements of operations and comprehensive loss, changes in stockholders’
equity (deficit), and cash flows for the year ended December 31, 2023, and the related notes (collectively referred to as the consolidated
financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial
position of the Company as of December 31, 2023, and the results of its operations and its cash flows for the year ended December 31,
2023, in conformity with accounting principles generally accepted in the United States of America.

Going
Concern

The
accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed
in Note 2 to the consolidated financial statements, the Company suffered a net loss from operations and used cash in operations, which
raises substantial doubt about its ability to continue as a going concern. Management’s plans regarding those matters are also
described in Note 2. The consolidated financial statements do not include any adjustments that might result from the outcome of this
uncertainty.

Basis
for Opinion

These
consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion
on the Company’s consolidated financial statements based on our audits. We are a public accounting firm registered with the Public
Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance
with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We
conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud.
The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part
of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing
an opinion on the effectiveness of the Company’s internal control over financial