Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 251

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 251
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 the projected revenues attributable to
the brand, royalty rate and discount rate applied to those future cash flows required management to make significant estimates and assumptions.
Changes in these assumptions could have a significant impact on the fair value of the intangible asset and the resulting impairment charge.

We
identified the Azuñia brand intangible impairment assessment as a critical audit matter. Auditing management’s judgments
regarding the assumptions and estimates discussed above involved a high degree of subjectivity.

The
primary procedures we performed to address these critical audit matters included (a) gained an understanding of management’s process
for developing its estimates, (b) assessed the reasonableness of management’s selection of the valuation method, (c) evaluated
the reasonableness of management’s revenue projections by comparing them to historical information and other supporting contracts
or information, (d) evaluated the reasonableness of the royalty rate selected, (e) evaluated the reasonableness of the discount rate,
and (f) recomputed the value. We agreed with management’s impairment assessment in fiscal year 2024.

/s/
Salberg & Company, P.A.

SALBERG
& COMPANY, P.A.

We
have served as the Company’s auditor since 2024.

Boca
Raton, Florida

April
15, 2025

F-3

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM

To
the Board of Directors and

Stockholders
of Beeline Holdings, Inc. (formerly Eastside Distilling, Inc.)

Opinion
on the Financial Statements

We
have audited the accompanying consolidated balance sheet of Beeline Holdings, Inc and subsidiaries (formerly Eastside Distilling, Inc.)
(the Company) as of December 31, 2023, and the related consolidated statements of operations and comprehensive loss, changes in stockholders’
equity (deficit), and cash flows for the year ended December 31, 2023, and the related notes (collectively referred to as the consolidated
financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial
position of the Company as of December 31, 2023, and the results of its operations and its cash flows for the year ended December 31,
2023, in conformity with accounting principles generally accepted in the United States of America.

Going
Concern

The
accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed