NOTES PAYABLE – RELATED PARTIES

12 Months Ended

Dec. 31, 2024

Notes Payable Related Parties

NOTES PAYABLE – RELATED PARTIES

15. NOTES PAYABLE – RELATED PARTIES

Notes payable, related parties consisted of the following as of December 31:

(Dollars in thousands)	2024		2023
Chief Executive Officer	$	737	$	-
LDI promissory note		-		-
Board member		87		92
Total		824		92
Accrued interest		67		-
Total notes payable, related parties	$	891	$	92

Beeline Holdings, Inc.

Notes to Consolidated Financial Statements

December 31, 2024 and 2023

On December 31, 2024, Nicholas Liuzza, the Chief Executive Officer, loaned $0.7 million to Beeline Loans in exchange for a demand promissory note, which accrues interest at the rate of 8% per annum and is payable within 15 days of demand notice made by Mr. Liuzza. The funds were held in a restricted account to permit Beeline Loans to improve its ability to make real estate loans. Subsequent to December 31, 2024, the promissory note was converted to preferred equity, see Note 25 – Subsequent Events.

On October 30, 2024, the Company entered into a promissory note with LDI for $0.3 million. A balloon payment of the entire outstanding principal balance of the indebtedness together with all accrued interest was due and paid in full on November 24, 2024 of $0.5 million.

In July 2023, the Company issued a note to a private company in which Joseph Freedman, a Board member of the Company, has an ownership interest. This note was for $0.1 million and accrued interest at 7% per annum and is due on demand. This note was subsequently repaid in January 2025, see Note 25 – Subsequent Events.

On April 1, 2021, Eastside entered into a promissory note of $0.1 million with Robert Grammen, a former Board member of the Company, bearing interest of 6.0%. The note had an original maturity of April 2024. Accrued interest was paid in accordance with a monthly amortization schedule. This note was converted or exchanged as part of the Debt Exchange Agreement on October 7, 2024, further described above in Note 5 - Debt Exchange Agreement.