Company: BLNE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024044
Chunk: 16

Company: Beeline Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 16
---
    Cost of sales 
     4,108 
  
    Gross profit 
     38 
  
    Operating expenses: 

    Sales and marketing expenses 
     32 
  
    General and administrative expenses 
     1,543 
  
    Gain on disposal of property and equipment 
     (199)
  
    Total operating expenses 
     1,376 
  
    Loss before income taxes 
     (1,338)
  
    Provision for income taxes 
     3 
  
    Net loss from discontinued operations 
    $(1,335)

Bridgetown
Spirits

The
assets and liabilities of Bridgetown Spirits and the spirits segment have been classified as held for sale as of June 30, 2025 and December
31, 2024, respectively. The operating results of Bridgetown Spirits and the spirits segment have been classified as discontinued operations
during the three and six months ended June 30, 2025 and 2024, respectively. The consolidated financial statements for the prior periods
have been adjusted to reflect comparable information.

Assets
and liabilities related to Bridgetown Spirits and the spirits segment were as follows as of June 30, 2025 and December 31, 2024, respectively:

    (Dollars in thousands) 
    2025  
    2024 
  
    Assets 

    Current assets: 

    Cash and cash equivalents 
    $116  
    $310 
  
    Inventories 
     1,314  
     1,493 
  
    Prepaid expenses and other current assets 
     17  
     75 
  
    Accounts receivables, net 
     165  
     134 
  
    Current assets of discontinued operations held for sale 
     1,612  
     2,012 
  
    Intangible assets, net 
     822  
     822 
  
    Right-of-use assets 
     275  
     372 
  
    Property and equipment, net 
     65  
     95 
  
    Other assets, net 
     74  
     180 
  
    Total Assets 
    $2,848  
    $3,481 

    Liabilities 

    Current liabilities: 

    Accounts payable 
    $192  
    $136 
  
    Accrued liabilities 
     122  
     170