Company: BLNE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024044
Chunk: 21

Company: Beeline Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 21
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 was acquired in the merger, has a useful life of four years and amortization expense was $49,125 for the six months ended June
30, 2025.

9.
PROPERTY AND EQUIPMENT

Property
and equipment consisted of the following:

 SCHEDULE OF PROPERTY AND EQUIPMENT

    (Dollars in thousands) 
    June 30, 2025  
    December 31, 2024 
  
    Internal-use software 
    $15,355  
    $15,225 
  
    Furniture and fixtures 
     52  
     28 
  
    Leasehold improvements 
     151  
     151 
  
    Computers and hardware 
     12  
     12 
  
    Total 
     15,570  
     15,416 
  
    Less accumulated depreciation and amortization 
     (2,363) 
     (736)
  
    Total property and equipment, net 
    $13,207  
    $14,680 

Depreciation
expense related to property and equipment was $0.1 million and $0 for the six months ended June 30, 2025 and 2024, respectively. Amortization
expense related to internal-use software was $1.5 million for the six months ended June 30, 2025.

The
estimated future amortization expense of internal-use software as of June 30, 2025 was as follows:

 SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSE OF INTERNAL-USE SOFTWARE

    (Dollars in thousands) 
    - 
  
    2025 
    $1,535 
  
    2026 
     3,071 
  
    2027 
     3,071 
  
    2028 
     3,071 
  
    2029 
     2,374 
  
    Amortization
    expense of internal use software 
    $13,122 

Beeline’s
internal developers created a new proprietary software and launched it in 2024. The most notable feature of the new software is the integration
of Beeline’s Chat API “Bob”. The Company recorded $0.1 million of additional purchases of internal-use software for
the six months ended June 30, 2025.

    19

Beeline Holdings, Inc.

Notes to Consolidated Financial Statements

June 30, 2025

(Un