Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 289

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 289
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 of the Company’s right, title, and interest in and to each mortgage loan in which the lender has acquired
a warehouse interest. As of December 31, 2024, the warehouse line of credit and accrued interest outstanding balance was $6.1 million.
The lender allowed the draws to exceed the $5.0 million line of credit. Interest expense on the warehouse line of credit was $0.1 million
for the period October 8, 2024 through December 31, 2024.

    F-24

Beeline Holdings, Inc.

Notes to Consolidated Financial Statements

December 31, 2024 and 2023

14. NOTES PAYABLE

Notes payable consisted of the following as of December
31:

SCHEDULE OF NOTES PAYABLE

    (Dollars in thousands) 
    2024 
     
    2023

    Promissory notes 
    $- 
     
    $
    7,990

    Notes payable - 2024 
     3,600 

    -

    Note payable - 2023 
     500 

    -

    Term loan agreement 
     275 

    -

    Total 
     4,375 

    7,990

    Accrued interest 
     269 

    52

    Debt discount 
     (651)

    -

    Notes payable, net 
    $3,993 
     
    $
    8,042

On April 1, 2021, Eastside entered into promissory
notes of $7.8 million with the Investors bearing interest of 6.0%. The notes had an original maturity of April 2024. Accrued interest
was paid in accordance with a monthly amortization schedule. These notes were converted or exchanged as part of the Debt Exchange Agreement
on October 7, 2024, further described above in Note 5 - Debt Exchange Agreement.

During 2024, the Company issued notes payable of $3.6
million maturing September 5, 2025 with payments made in nine equal monthly installments of $0.4 million beginning January 2025. As of
December 31, 2024, the principal balance was $3.6 million, accrued interest was $0.2 million and unamortized debt discount were $0.6 million.

During 2023, the Company issued a
note payable for proceeds of