Company: BLNE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023462
Chunk: 145

Company: Beeline Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 145
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 Nicholas Liuzza,
by which the company funds the transactions through the sale of a cryptocurrency token which is backed by real property. See Note 19
– Related Party Transactions, in the footnotes to the financial statements contained in this report.

Through
September 30, 2025, the Company has derived $12,377 of revenue from this business. The Company provides title insurance services and
an owner’s title policy to the Company’s partner as the buyer of the fractional equity. Beeline Title does not assume any
unusual liability in favor of the related party. Beeline Title simply transacts in the normal course of business on these purchase transactions,
issuing the owner’s title insurance policy and acting as settlement/escrow agent. In any title transaction, the title agency will
incur liability for potential losses under the title policy if the underlying title work is faulty for any reason or fraud or other errors
exist that could not have been discovered at the time of policy issuance. Beeline Title has Errors and Omissions insurance in addition
to other insurance coverages for any such issues.

Results
of Operations

The
Merger was structured and accounted for as a business combination with the Company as the acquirer of 100% of the controlling equity
interests of Beeline and its subsidiaries. The Company’s consolidated financial statements for the nine months ended September
30, 2024 do not include Beeline’s results of operations. The Company’s consolidated financial statements reflect the final
purchase accounting adjustments in accordance with ASC 805, Business Combinations, whereby the purchase price was allocated to
the assets acquired and liabilities assumed based upon their estimated fair values on the acquisition date. Due to the Merger, management
believes that the consolidated results of operations for 2025 are not directly comparable to those of 2024, as the prior year reflects
the performance of only the corporate segment.

Certain
prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on
the reported results of operations or cash flows. As a result of the merger, the statement of operations for the three and nine months
ended September 30, 2024 represents the new structure and retrospectively reclassifies discontinued operations.

As
a result of the Merger, the Company will amortize $15.2 million over a five-year period ending October 2029 and $0.4
million over a four-year period ending October 2028. This Merger