Company: BLNE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024044
Chunk: 17

Company: Beeline Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 17
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 Current portion of lease liabilities 
     192  
     186 
  
    Total current liabilities 
     506  
     492 
  
    Lease liabilities, net of current portion 
     67  
     163 
  
    Total liabilities 
    $573  
    $655 

    16

Beeline Holdings, Inc.

Notes to Consolidated Financial Statements

June 30, 2025

(Unaudited)

Income
and expense related to Bridgetown Spirits and the spirits segment were as follows for the six months ended June 30, 2025 and 2024, respectively:

    2025  
    2024 
  
    (Dollars in thousands) 

    Net sales, spirits 
    $1,036  
    $1,217 
  
    Cost of sales, spirits (inclusive of depreciation) 
     843  
     916 
  
    Salaries and benefits 
     310  
     307 
  
    Marketing and advertising 
     245  
     173 
  
    Total operating expenses 
     1,398  
     1,396 
  
    Loss from operations 
     (362) 
     (179)
  
    Other income 
     -  
     3 
  
    Net loss 
    $(362) 
    $(176)

There
is a 47% non-controlling interests in Bridgetown Spirits. All of the net loss attributable to non-controlling interests in the consolidated
statements of operations is related to Bridgetown Spirits.

5.
BUSINESS SEGMENTS

The
Company’s CODM, the Chief Executive Officer, evaluates how the Company views and measures its performance. ASC 280, Segment
Reporting establishes the standards for reporting information about segments in financial statements. After consideration of this
criteria, the CODM has determined that there are two reportable segments, consisting of Beeline Financial and Corporate.

Beeline
Financial is an AI-driven fintech mortgage lender that develops proprietary software in the form of major enhancements and new
developments in its lending platform, including Beeline Financial’s Chat API “Bob.” Corporate consists of key executive and
accounting personnel and corporate expenses such as public company and board costs, as well as interest on debt.

Corporate
primarily consists of general corporate expenses, including public company costs, executive compensation, legal and regulatory compliance,
and other administrative functions that support the overall business. This segment also