SECURED CREDIT FACILITIES – RELATED PARTY

12 Months Ended

Dec. 31, 2024

Secured Credit Facilities Related Party

SECURED CREDIT FACILITIES – RELATED PARTY

17. SECURED CREDIT FACILITIES – RELATED PARTY

On October 7, 2022, Eastside entered into a Note Purchase Agreement dated as of October 6, 2022 with Aegis. Pursuant to the Note Purchase Agreement, Aegis purchased from Eastside a secured promissory note in the principal amount of $4.5 million (the “Aegis Note”). Aegis paid for the Aegis Note by paying $3.3 million to TQLA LLC to fully satisfy a secured line of credit promissory note that Eastside issued to TQLA on March 21, 2022; and the remaining $1.2 million was paid in cash to Eastside. The Aegis Note bore interest at 9.25% per annum, payable every three months. The principal amount of the Aegis Note was payable on March 31, 2025. Eastside pledged substantially all of its assets to secure its obligations to Aegis under the Aegis Note.

On September 29, 2023, Eastside entered into a Debt Satisfaction Agreement with Aegis and other creditors, pursuant to which the Aegis Note was amended and restated. Principal and interest of $1.9 million were exchanged for equity issued to the SPV, in which Aegis held a 29% interest. See Note 19 - Stockholders’ Equity: 2023 Debt Satisfaction Agreement. Subsequently in 2024, these notes were further converted or exchanged as part of the Debt Exchange Agreement, further described above in Note 5 - Debt Exchange Agreement.

Beeline Holdings, Inc.

Notes to Consolidated Financial Statements

December 31, 2024 and 2023