Company: BLNE
Filing Date: 2025-01-08
Form Type: S-1/A
Source: 0001493152-25-001415
Chunk: 203

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-08
Form: S-1/A
Chunk 203
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| Software Development Version 3      |     |   |  3,335,136 |   |     |   |  3,335,136 |   |
| Software Development Version 4      |     |   |  1,438,149 |   |     |   |  1,346,424 |   |
| Software Development Version 5      |     |   |    759,303 |   |     |   |          - |   |
| Capitalized Computer Software Gross |     |   |  8,079,821 |   |     |   |  7,228,793 |   |
| Less: Accumulated Depreciation      |     |   | (3,216,731 | ) |     |   | (1,776,596 | ) |
| Software Development, net           |     | $ |  4,863,090 |   |     | $ |  5,452,197 |   |

Amortization expense totaled $ 1,440,135and $ 1,009,718for the years ended December 31, 2023 and 2022, respectively.

| F-67 |

Beeline Financial Holdings, Inc.

Notes to Consolidated Financial Statements

December 31, 2023 and 2022

NOTE 7 - WAREHOUSE LINES OF CREDIT

Warehouse Lines of Credit

FIRSTFUNDING, INC.

At December 31, 2023, Beeline was engaged with one bank for a secured line of credit to fund originated loans in the normal course of business. The agreement contains specific financial covenants and requirements that Beeline must analyze on a quarterly basis in order to be compliant with the agreement and contains default provisions as defined. The aggregate potential borrowing capacity under the warehouse line of credit is $ 5,000,000at December 31, 2023 .

On September 21, 2021, Beeline entered into an agreement with FirstFunding, Inc. (lender) for a $ 10,000,000line. The line automatically renews for successive one-year terms, unless terminated by Beeline or FirstFunding, Inc upon 60 days notice. The line was renewed on September 30, 2023 with a reduction in available funding from $ 10,000,000to $ 5,000,000. The interest rate is the greater of 1.) interest on the underlying loan or