INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

11. INTANGIBLE ASSETS

Intangible assets consisted of the following as of December 31:

(Dollars in thousands)	2024			2023
Beeline brand	$	4,557		$	-
Azuñia brand		822			4,153
Customer list		393			-
Permit and license		-			25
Total		5,772			4,178
Less accumulated amortization		(23	)		-
Intangible assets	$	5,749		$	4,178

Beeline Holdings, Inc.

Notes to Consolidated Financial Statements

December 31, 2024 and 2023

The Beeline and Azuñia brands have been determined to have an indefinite life and are not amortized. The Company, on an annual basis, tests the indefinite lived assets for impairment. If the carrying value of an indefinite lived asset is found to be impaired, then the Company will record an impairment loss and reduce the carrying value of the asset. As of December 31, 2024, the Company determined that the Beeline asset was not impaired. As of December 31, 2024 and 2023, the Company determined that the Azuñia assets were impaired and recorded an impairment of $3.3 million and $0.4 million, respectively.

Customer data has a useful life of four years and amortization expense was $22,714 for the period October 8, 2024 through December 31. The permit and license was fully impaired during 2024.