Company: BLNE
Filing Date: 2025-01-14
Form Type: 424B3
Source: 0001493152-25-002137
Chunk: 237

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-14
Form: 424B3
Chunk 237
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 |     |   |            129,962 |   |     |   |           129,962 |   |
| Computers and hardware        |     |   |             81,779 |   |     |   |            81,779 |   |
| Property and equipment gross  |     |   |            908,635 |   |     |   |           908,635 |   |
| Less accumulated depreciation |     |   |           (713,474 | ) |     |   |          (599,942 | ) |
| Property and equipment, net   |     | $ |            195,161 |   |     | $ |           308,693 |   |

Depreciation expense totaled $113,532 and $113,532 for the nine months ended September 30, 2024 and 2023, respectively.

NOTE 6 - CAPITALIZED SOFTWARE DEVELOPMENT COSTS

Capitalized Software Development Costs

Beeline released its proprietary software “Hexagon” in May 2020.

Beeline continues to use the “Hexagon” software for processing mortgages of commercial and residential properties and intends on licensing this software to other mortgage loan originators in the future.

In January 2023, Beeline’s internal developers began the initial development of a new proprietary software, “Hive”. The new software is an entirely new platform and code built by Beeline. The most notable feature of the new software is the integration of Beeline’s Chat API “Bob.” The official launch of Hive was January 2024 and Beeline is currently implementing the new software in its residential mortgage origination process.

A major upgrade to the system “Version 2” was immediately started after the initial launch of the system and went into use starting November 2020. This upgrade gave the consumer access to a user portal and the ability to process some conditions on their own through uploading documents and accessing key information of their loan.

Additional functionality was added to the system in “Version 3”. This version will allow proprietary technologies to process underwriting conditions and automating major functions of the business. The basics of Beeline’s “Automation Condition Resolution Engine” was substantially completed in this Version.

“Version 4” was released in May 2022. It significantly changed the loan options user interface and experience for customers. It also introduced a dedicated flow for new loan types and channels. Other changes in Version 4 included additional build out of the Automation Condition Resolution Engine. Version 4 was completed by