Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 445

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1C
Chunk 445
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eline (October
    8, 2024 through December 31, 2024) 
    $1,195  
    $- 
  
    Bridgetown Spirits 
     2,577  
     3,787 
  
    Total Revenues 
    $3,772  
    $3,787 

48

    (Dollars
                                            in thousands) 
    2024  
    2023 
  
    Net Loss and Loss per Share 

    Net loss 
    $(13,076) 
    $(7,535)
  
    Net loss from continuing operations 
     (6,238) 
     (4,786)
  
    Basic and diluted net loss per common share available to common stockholders 
    $(46.63) 
    $(70.42)

For
the year ended December 31, 2024, net loss from continuing operations increased to $6.2 million from $4.8 million for the year ended
December 31, 2023, reflecting the inclusion of Beeline’s results of operations from the period October 8, 2024 through December
31, 2024, as well as an impairment loss related to spirits and increased professional fees.

Interest
Expense. Interest expense, exclusive of the warehouse line of credit, was $2.2 million and $1.1 million for the years ended December
31, 2024 and 2023, respectively, primarily related to debt and warrant related expenses.

Gain
on extinguishment of debt. Gain on extinguishment of debt was $0.6 million for the year ended December 31, 2024 related to prior
invoiced amounts billed for services, late fees and adjustments from a legal firm that provided the Company services under an engagement
letter predating 2021.

Gain on troubled debt restructuring. Gain on troubled debt restructuring was $4.5 million for the year ended December
31, 2024 related to the Debt Exchange Agreement.

Loss on debt to equity
conversion. During the year ended December 31, 2023, the Company recognized a loss on the debt to equity conversion of $1.3 million
that occurred on September 29, 2023.

Impairment
loss. Impairment loss was $3.4 million and $0.4 million for the years ended December 31, 2024 and 2023, respectively,
related to the write down