Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 611

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 611
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 equal to 50% of their investment amount, or $0.1 million each, using the
stated value of the Series F Preferred Stock, which is $0.50 per share, to determine the number of shares of Series F Preferred Stock.
As of December 31, 2024, debt issuance costs related to the side letters were $0.4 million. The exchange of Series F Preferred Stock for
a 120-day promissory note resulted in a gain of $44,833, which is included in gain on extinguishment of debt in the consolidated statements
of operations.

In March 2025, the Company and certain of the holders agreed to an extension
of the maturity date to April 14, 2025 in exchange for an increase to the principal of the notes by 10%, and two lenders were each paid
their principal balance plus 2.5% interest of $0.3 million. On April 14, 2025, the Company and the remaining Note holders entered into
an agreement for a second extension of the maturity dates of the Notes held by such holders to May 14, 2025. The terms of the recent extension
are as follows: (i) if the Notes are paid off on or before April 29, 2025, then there will be no additional principal payment required;
and (ii) if the principal of the applicable Notes are not paid off on or before April 29, 2025 but are paid on or before May 13, 2025,
then an additional payment in an amount equal to 5% of the outstanding principal of the applicable Notes will be due. See Note 25 - Subsequent Events.

    F-26

Beeline Holdings, Inc.

Notes to Consolidated Financial Statements

December 31, 2024 and 2023

2024 Secured Notes

On May 15, 2024, Eastside entered into a Loan Agreement
with the SPV, Aegis, Bigger, District 2, and LDI.

Pursuant to the Loan Agreement, Bigger, District 2
and LDI purchased from Eastside for $1.1 million cash promissory notes in the aggregate principal amount of $1.1 million (the “2024
Secured Notes”). The 2024 Secured Notes may be satisfied by payment of 110% of principal on or before November 29, 2024, by payment
of 130% of