XML 171 R48.htm IDEA: XBRL DOCUMENT
v3.24.4

Restatement of Financials (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Beeline Financial Holdings Inc [Member] |
Schedule of Error Corrections and Prior Period Adjustments | Schedule of Error Corrections and Prior Period Adjustments BEELINE FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS
|  | As previously reported |  |  | Restatement adjustment |  |  | As restated |
|  | As of December 31, 2023 |
|  | As previously reported |  |  | Restatement adjustment |  |  | As restated |
Assets |  |  |  |  |  |  |  |  |
Current Assets |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 190,357 |  |  | $ | (187,006 | ) |  | $ | 3,351 |
Restricted cash |  |  | - |  |  |  | 187,006 |  |  |  | 187,006 |
Accounts Receivable, net |  |  | 57,970 |  |  |  | (57,970 | ) |  |  | - |
Mortgage loans held for sale, at fair value |  |  | 2,243,043 |  |  |  | 57,969 |  |  |  | 2,301,012 |
Interest rate lock derivative |  |  | - |  |  |  | 57,505 |  |  |  | 57,505 |
Prepaid expenses and other current assets |  |  | 82,137 |  |  |  | - |  |  |  | 82,137 |
Total Current Assets |  |  | 2,573,507 |  |  |  | 57,504 |  |  |  | 2,631,011 |
Property and equipment, net |  |  | 308,693 |  |  |  | - |  |  |  | 308,693 |
Software development costs, net |  |  | 4,863,090 |  |  |  | - |  |  |  | 4,863,090 |
Right of use assets |  |  | 1,643,432 |  |  |  | - |  |  |  | 1,643,432 |
Security deposit |  |  | 58,181 |  |  |  | - |  |  |  | 58,181 |
Total Assets |  | $ | 9,446,903 |  |  | $ | 57,504 |  |  | $ | 9,504,407 |
Liabilities & Stockholders’ Deficit |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 1,384,275 |  |  | $ | (35,162 | ) |  | $ | 1,349,112 |
Warehouse lines of credit |  |  | 2,158,099 |  |  |  | (980 | ) |  |  | 2,157,119 |
Lease liability, current portion |  |  | 323,959 |  |  |  | - |  |  |  | 323,959 |
Overdraft liability |  |  | - |  |  |  | 35,162 |  |  |  | 35,162 |
Loan payable |  |  | 91,999 |  |  |  | - |  |  |  | 91,999 |
Loan payable, related party |  |  | 973,173 |  |  |  | 77,006 |  |  |  | 1,050,179 |
Loan payable |  |  | 91,999 |  |  |  | - |  |  |  | 91,999 |
BDCRI loan, current portion |  |  | - |  |  |  | 104,346 |  |  |  | 104,346 |
Accrued payroll |  |  | 300,132 |  |  |  | - |  |  |  | 300,132 |
Escrows held for others |  |  | 4,906 |  |  |  | - |  |  |  | 4,906 |
Accrued expenses and other current liabilities |  |  | 9,404 |  |  |  | 19,925 |  |  |  | 29,329 |
Total Current Liabilities |  |  | 5,245,946 |  |  |  | 200,297 |  |  |  | 5,446,243 |
Long Term Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Convertible notes |  |  | 9,469,018 |  |  |  | (579,757 | ) |  |  | 8,889,261 |
Convertible notes - related party |  |  | 9,440,428 |  |  |  | (453,935 | ) |  |  | 8,986,493 |
Accrued interest on convertible notes |  |  | - |  |  |  | 965,378 |  |  |  | 965,378 |
BDCRI Loan, net |  |  | 291,846 |  |  |  | (104,346 | ) |  |  | 187,500 |
Lease liability, net of current portion |  |  | 1,526,825 |  |  |  | - |  |  |  | 1,526,825 |
Total Long Term Liabilities |  |  | 20,728,117 |  |  |  | (172,660 | ) |  |  | 20,555,457 |
Total Liabilities |  |  | 25,974,063 |  |  |  | 27,636 |  |  |  | 26,001,700 |
Stockholders’ Deficit |  |  |  |  |  |  |  |  |  |  |  |
Preferred stock, $0.00001 par value, 3,282,896 shares authorized |  |  |  |  |  |  |  |  |  |  |  |
Series A preferred stock, 172,260 shares designated, and 247,960 and 472,910 shares issued and outstanding, respectively |  |  | 248 |  |  |  | (246 | ) |  |  | 2 |
Common stock, $0.00001 par value, 27,717,104 shares authorized, 1,644,040 shares issued and outstanding |  |  | 1,644 |  |  |  | (1,628 | ) |  |  | 16 |
Common stock, value |  |  | 1,644 |  |  |  | (1,628 | ) |  |  | 16 |
Additional paid in capital |  |  | 21,772,516 |  |  |  | 501,874 |  |  |  | 22,274,390 |
Accumulated other comprehensive loss |  |  | (95,728 | ) |  |  | - |  |  |  | (95,728 | )
Accumulated deficit |  |  | (38,205,841 | ) |  |  | (163,359 | ) |  |  | (38,369,200 | )
Total Beeline Financial Holdings, Inc. stockholders’ deficit |  |  | (16,527,161 | ) |  |  | 336,641 |  |  |  | (16,190,520 | )
Non-controlling interest |  |  | - |  |  |  | (306,773 | ) |  |  | (306,773 | )
Total Stockholders’ Deficit |  |  | (16,527,161 | ) |  |  | 29,868 |  |  |  | (16,497,293 | )
Total Liabilities & Stockholders’ Deficit |  | $ | 9,446,903 |  |  | $ | 57,504 |  |  | $ | 9,504,407 |
Beeline Financial Holdings, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022
|  | As previously reported |  |  | Restatement adjustment |  |  | As restated |
|  | As of December 31, 2022 |
|  | As previously reported |  |  | Restatement adjustment |  |  | As restated |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Current Assets |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 133,223 |  |  | $ | (100,510 | ) |  | $ | 32,713 |
Restricted cash |  |  | - |  |  |  | 100,510 |  |  |  | 100,510 |
Accounts Receivable, net |  |  | 29,595 |  |  |  | (29,595 | ) |  |  | - |
Mortgage loans held for sale, at fair value |  |  | 2,993,374 |  |  |  | 29,595 |  |  |  | 3,022,969 |
Interest rate lock derivative |  |  | - |  |  |  | 30,757 |  |  |  | 30,757 |
Prepaid expenses and other current assets |  |  | 92,843 |  |  |  | - |  |  |  | 92,843 |
Total Current Assets |  |  | 3,249,035 |  |  |  | 30,757 |  |  |  | 3,279,792 |
Property and equipment, net |  |  | 460,069 |  |  |  | - |  |  |  | 460,069 |
Software development costs, net |  |  | 5,452,197 |  |  |  | - |  |  |  | 5,452,197 |
Right of use assets |  |  | 1,947,804 |  |  |  | - |  |  |  | 1,947,804 |
Security deposit |  |  | 58,430 |  |  |  | 1 |  |  |  | 58,431 |
Total Assets |  | $ | 11,167,536 |  |  | $ | 30,758 |  |  | $ | 11,198,293 |
Liabilities & Stockholders’ Deficit |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 1,236,957 |  |  | $ | 1,412 |  |  | $ | 1,238,369 |
Warehouse lines of credit |  |  | 3,060,923 |  |  |  | - |  |  |  | 3,060,923 |
Lease liability, current portion |  |  | 309,167 |  |  |  | - |  |  |  | 309,167 |
Loan payable |  |  | 100,000 |  |  |  | - |  |  |  | 100,000 |
Promissory note |  |  | 112,500 |  |  |  | - |  |  |  | 112,500 |
BDC loan, current portion |  |  | - |  |  |  | 109,005 |  |  |  | 109,005 |
Accrued payroll |  |  | 412,391 |  |  |  | - |  |  |  | 412,391 |
Escrows held for others |  |  | 22,195 |  |  |  | - |  |  |  | 22,195 |
Accrued expenses and other current liabilities |  |  | 5,767 |  |  |  | 48,386 |  |  |  | 54,153 |
Total Current Liabilities |  |  | 5,259,901 |  |  |  | 158,803 |  |  |  | 5,418,704 |
Long Term Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Convertible notes |  |  | 852,643 |  |  |  | (107,405 | ) |  |  | 745,238 |
Convertible notes - related party |  |  | 2,985,148 |  |  |  | 615,852 |  |  |  | 3,601,000 |
Accrued interest on convertible notes |  |  | - |  |  |  | 77,883 |  |  |  | 77,883 |
BDC Loan, net |  |  | 363,351 |  |  |  | (109,005 | ) |  |  | 254,346 |
Lease liability, net of current portion |  |  | 1,850,784 |  |  |  | - |  |  |  | 1,850,784 |
Total Long Term Liabilities |  |  | 6,051,927 |  |  |  | 477,325 |  |  |  | 6,529,251 |
Total Liabilities |  |  | 11,311,828 |  |  |  | 636,128 |  |  |  | 11,947,955 |
Stockholders’ Deficit |  |  |  |  |  |  |  |  |  |  |  |
Preferred stock, $0.00001 par value |  |  |  |  |  |  |  |  |  |  |  |
Series A preferred stock |  |  | 269 |  |  |  | (264 | ) |  |  | 5 |
Common stock, $0.00001 par value |  |  | 1,644 |  |  |  | - |  |  |  | 16 |
Additional paid in capital |  |  | 27,866,976 |  |  |  | (760,572 | ) |  |  | 27,106,404 |
Accumulated other comprehensive loss |  |  | (79,836 | ) |  |  | - |  |  |  | (79,836 | )
Accumulated deficit |  |  | (27,933,345 | ) |  |  | 304,628 |  |  |  | (27,628,717 | )
Total Beeline Financial Holdings, Inc. stockholders’ deficit |  |  | (144,292 | ) |  |  | (457,836 | ) |  |  | (602,128 | )
Non-controlling interest |  |  | - |  |  |  | (147,534 | ) |  |  | (147,534 | )
Total Stockholders’ Deficit |  |  | (144,292 | ) |  |  | (605,370 | ) |  |  | (749,662 | )
Total Liabilities & Stockholders’ Deficit |  | $ | 11,167,536 |  |  | $ | 30,758 |  |  | $ | 11,198,293 |
Beeline Financial Holdings, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 BEELINE FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/LOSS
Revenues |  | As previously reported |  |  | Restatement adjustment |  |  | As restated |
|  | For the Year Ended December 31, 2023 |
Revenues |  | As previously reported |  |  | Restatement adjustment |  |  | As restated |
Gain on sale of loans, net |  | $ | 2,948,791 |  |  | $ | 25,745 |  |  | $ | 2,974,536 |
Interest income |  |  | (47,588 | ) |  |  | 179,885 |  |  |  | 132,297 |
Interest expense |  |  | - |  |  |  | (179,886 | ) |  |  | (179,886 | )
Loan origination fees |  |  | 304,388 |  |  |  | 100 |  |  |  | 304,488 |
Title fees |  |  | 558,759 |  |  |  | 1,003 |  |  |  | 559,762 |
Data and tech services |  |  | 2,748 |  |  |  | - |  |  |  | 2,748 |
REVENUES, NET |  |  | 3,767,097 |  |  |  | 26,848 |  |  |  | 3,793,946 |
Operating Expenses |  |  |  |  |  |  |  |  |  |  |  |
Selling, general and administrative |  |  | 496,393 |  |  |  | (203,498 | ) |  |  | 292,895 |
Salaries and benefits |  |  | 6,422,175 |  |  |  | (3,186 | ) |  |  | 6,418,989 |
Payroll taxes |  |  | 31,468 |  |  |  | 384,341 |  |  |  | 415,809 |
Professional fees |  |  | 920,656 |  |  |  | - |  |  |  | 920,656 |
Marketing and advertising |  |  | 1,883,622 |  |  |  | 7,506 |  |  |  | 1,891,128 |
Loan originating expenses |  |  | 675,053 |  |  |  | 130,943 |  |  |  | 805,996 |
Depreciation and amortization |  |  | 1,591,511 |  |  |  | - |  |  |  | 1,591,511 |
Rent and utilities |  |  | 369,785 |  |  |  | - |  |  |  | 369,785 |
Computer and software |  |  | 668,733 |  |  |  | (130,844 | ) |  |  | 537,889 |
Title operation expense |  |  | 199,202 |  |  |  | - |  |  |  | 199,202 |
Travel and entertainment |  |  | 71,976 |  |  |  | - |  |  |  | 71,976 |
Insurance expense |  |  | 212,546 |  |  |  | - |  |  |  | 212,546 |
Other expenses |  |  | 215,240 |  |  |  | (215,240 | ) |  |  | - |
Total Operating Expenses |  |  | 13,758,360 |  |  |  | (29,978 | ) |  |  | 13,728,382 |
Operating Loss |  |  | (9,991,263 | ) |  |  | 56,826 |  |  |  | (9,934,436 | )
Other (Income)/Expenses |  |  |  |  |  |  |  |  |  |  |  |
Other (income)/expense |  |  | (295,946 | ) |  |  | (607 | ) |  |  | (296,553 | )
Interest expense |  |  | 569,069 |  |  |  | 684,659 |  |  |  | 1,253,728 |
Other taxes |  |  | 8,110 |  |  |  | - |  |  |  | 8,110 |
Total Other Income/Expenses |  |  | 281,233 |  |  |  | 684,052 |  |  |  | 965,285 |
NET LOSS |  | $ | (10,272,496 | ) |  | $ | (627,227 | ) |  | $ | (10,899,722 | )
Net loss of subsidiary attributable to noncontrolling interest |  |  | - |  |  |  | (159,239 | ) |  |  | (159,239 | )
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS |  |  | (10,272,496 | ) |  |  | (467,988 | ) |  |  | (10,740,483 | )
Unrealized foreign currency translation gain (loss) |  |  | - |  |  |  | (15,892 | ) |  |  | (15,892 | )
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) |  |  | - |  |  |  | (15,892 | ) |  |  | (15,892 | )
TOTAL COMPREHENSIVE LOSS |  | $ | (10,272,496 | ) |  | $ | (483,880 | ) |  | $ | (10,756,375 | )
|  | As previously reported |  |  | Restatement adjustment |  |  | As restated |
|  | For the Year Ended December 31, 2022 |
|  | As previously reported |  |  | Restatement adjustment |  |  | As restated |
Revenues |  |  |  |  |  |  |  |  |  |  |  |
Gain on sale of loans, net |  | $ | 1,854,910 |  |  | $ | (19,132 | ) |  | $ | 1,835,778 |
Interest income |  |  | (23,946 | ) |  |  | 249,794 |  |  |  | 225,848 |
Interest expense |  |  | - |  |  |  | (249,794 | ) |  |  | (249,794 | )
Loan origination fees |  |  | 413,209 |  |  |  | - |  |  |  | 413,209 |
Title fees |  |  | 672,813 |  |  |  | 49,890 |  |  |  | 722,703 |
REVENUES, NET |  |  | 2,916,987 |  |  |  | 30,758 |  |  |  | 2,947,744 |
Operating Expenses |  |  |  |  |  |  |  |  |  |  |  |
Selling, general and administrative |  |  | - |  |  |  | 267,563 |  |  |  | 267,563 |
Salaries and benefits |  |  | 5,812,860 |  |  |  | 240,014 |  |  |  | 6,052,874 |
Payroll taxes |  |  | 405,065 |  |  |  | - |  |  |  | 405,065 |
Professional fees |  |  | 920,578 |  |  |  | - |  |  |  | 920,578 |
Marketing and advertising |  |  | 1,776,042 |  |  |  | 12,416 |  |  |  | 1,788,458 |
Loan originating expenses |  |  | 1,047,241 |  |  |  | (129,275 | ) |  |  | 917,966 |
Depreciation and amortization |  |  | 1,161,094 |  |  |  | - |  |  |  | 1,161,094 |
Rent and utilities |  |  | 620,779 |  |  |  | - |  |  |  | 620,779 |
Computer and software |  |  | 922,527 |  |  |  | (79,729 | ) |  |  | 842,798 |
Title operation expense |  |  | 140,951 |  |  |  | - |  |  |  | 140,951 |
Travel and entertainment |  |  | 71,655 |  |  |  | (1 | ) |  |  | 71,654 |
Insurance expense |  |  | 202,649 |  |  |  | - |  |  |  | 202,649 |
Other expenses |  |  | 260,991 |  |  |  | (260,991 | ) |  |  | - |
Total Operating Expenses |  |  | 13,342,430 |  |  |  | 49,997 |  |  |  | 13,392,429 |
Operating Loss |  |  | (10,425,443 | ) |  |  | (19,239 | ) |  |  | (10,444,685 | )
Other (Income)/Expenses |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | 283,187 |  |  |  | (176,338 | ) |  |  | 106,849 |
Other taxes |  |  | 701 |  |  |  | 1 |  |  |  | 702 |
Total Other Income/Expenses |  |  | 283,888 |  |  |  | (176,337 | ) |  |  | 107,551 |
NET LOSS |  | $ | (10,709,332 | ) |  | $ | 157,098 |  |  | $ | (10,552,236 | )
Net loss of subsidiary attributable to noncontrolling interest |  |  | - |  |  |  | (147,534 | ) |  |  | (147,534 | )
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS |  |  | (10,709,332 | ) |  |  | 304,632 |  |  |  | (10,404,702 | )
Unrealized foreign currency translation gain (loss) |  |  | - |  |  |  | (70,298 | ) |  |  | (70,298 | )
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) |  |  | - |  |  |  | (70,298 | ) |  |  | (70,298 | )
TOTAL COMPREHENSIVE LOSS |  | $ | (10,709,332 | ) |  | $ | 234,334 |  |  | $ | (10,475,000 | )
Beeline Financial Holdings, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 BEELINE FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS
|  | As previously reported |  |  | Restatement adjustment |  |  | As restated |
|  | For the Year Ended December 31, 2023 |
|  | As previously reported |  |  | Restatement adjustment |  |  | As restated |
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |
Net Loss |  | $ | (10,272,496 | ) |  | $ | (627,227 | ) |  | $ | (10,899,722 | )
Adjustments to reconcile net loss to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | 1,591,511 |  |  |  | - |  |  |  | 1,591,511 |
Allowance for change in fair market value |  |  | 24,552 |  |  |  | (24,552 | ) |  |  | - |
Gain on sale mortgage loans held for sale, net of direct costs |  |  | - |  |  |  | (2,974,536 | ) |  |  | (2,974,536 | )
Stock-based compensation |  |  | 374,746 |  |  |  | - |  |  |  | 374,746 |
Noncash lease expense |  |  | - |  |  |  | (4,795 | ) |  |  | (4,795 | )
Changes in operating assets and liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from principal payments and sales of loans held for sale |  |  | - |  |  |  | 59,831,839 |  |  |  | 59,831,839 |
Originations and purchases of mortgage loans held for sale |  |  | - |  |  |  | (56,135,346 | ) |  |  | (56,135,346 | )
Derivative asset |  |  | - |  |  |  | (26,748 | ) |  |  | (26,748 | )
Accounts receivable |  |  | (28,375 | ) |  |  | 28,375 |  |  |  | - |
Loans held for sale |  |  | 725,779 |  |  |  | (725,779 | ) |  |  | - |
Prepaid expenses and other current assets |  |  | 10,706 |  |  |  | - |  |  |  | 10,706 |
Deposits |  |  | 250 |  |  |  | - |  |  |  | 250 |
Accounts payable |  |  | 147,317 |  |  |  | 809,593 |  |  |  | 956,910 |
Accrued payroll |  |  | (112,259 | ) |  |  | 112,259 |  |  |  | - |
Right of use asset |  |  | 304,371 |  |  |  | (304,371 | ) |  |  | - |
Escrows held |  |  | (17,289 | ) |  |  | 17,289 |  |  |  | - |
Warehouse lines of credit, net |  |  | (902,824 | ) |  |  | 902,824 |  |  |  | - |
Lease liability |  |  | (309,170 | ) |  |  | 309,170 |  |  |  | - |
Promissory note |  |  | (112,500 | ) |  |  | 112,500 |  |  |  | - |
Accrued expenses and other liabilities |  |  | 3,640 |  |  |  | (3,640 | ) |  |  | - |
Net Cash Used in Operating Activities |  | $ | (8,572,041 | ) |  | $ | 1,296,857 |  |  | $ | (7,275,185 | )
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |
Purchases of software and property and equipment |  | $ | (851,028 | ) |  | $ | - |  |  | $ | (851,028 | )
Net Cash Used in Investing Activities |  | $ | (851,028 | ) |  | $ | - |  |  | $ | (851,028 | )
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |
Payments from BDCRI loan |  | $ | (71,505 | ) |  | $ | 71,505 |  |  | $ | - |
Net borrowings under warehouse line of credit |  |  | - |  |  |  | (903,804 | ) |  |  | (903,804 | )
Repayments under notes and convertible notes payable |  |  | - |  |  |  | (222,500 | ) |  |  | (222,500 | )
Proceeds from convertible notes issued |  |  | 3,940,403 |  |  |  | 1,189,069 |  |  |  | 5,129,472 |
Proceeds from convertible notes issued - related party |  |  | 4,662,026 |  |  |  | (465,955 | ) |  |  | 4,196,071 |
Proceeds from demand notes |  |  | 153,454 |  |  |  | (153,454 | ) |  |  | - |
Proceeds from demand notes - related party |  |  | 811,718 |  |  |  | (811,718 | ) |  |  | - |
Net Cash Provided by Financing Activities |  | $ | 9,496,096 |  |  | $ | (1,296,857 | ) |  | $ | 8,199,239 |
Effect of exchange rate changes on cash |  | $ | (15,892 | ) |  | $ | - |  |  | $ | (15,892 | )
Net increase (decrease) in cash |  |  | 57,134 |  |  |  | - |  |  |  | 57,134 |
Cash and cash equivalents - beginning of year |  |  | 133,223 |  |  |  | - |  |  |  | 133,223 |
Cash and cash equivalents - end of year |  | $ | 190,357 |  |  | $ | - |  |  | $ | 190,357 |
CASH FLOWS FROM OPERATING ACTIVITIES |  | As previously reported |  |  | Restatement adjustment |  |  | As restated |
|  | For the Year Ended December 31, 2022 |
CASH FLOWS FROM OPERATING ACTIVITIES |  | As previously reported |  |  | Restatement adjustment |  |  | As restated |
Net Loss |  | $ | (10,709,332 | ) |  | $ | 157,098 |  |  | $ | (10,552,236 | )
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Allowance for gain/loss on loans held for sale |  |  | 111,216 |  |  |  | 111,216 |  |  |  | - |
Depreciation and amortization |  |  | 1,161,094 |  |  |  | - |  |  |  | 1,161,094 |
Gain on sale mortgage loans held for sale, net of direct costs |  |  | - |  |  |  | (1,835,778 | ) |  |  | (1,835,778 | )
Stock-based compensation |  |  | 364,191 |  |  |  | - |  |  |  | 364,191 |
Noncash lease expense |  |  | - |  |  |  | (276,113 | ) |  |  | (276,113 | )
Changes in operating assets and liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from principal payments and sales of loans held for sale |  |  | - |  |  |  | 132,474,641 |  |  |  | 132,474,641 |
Originations and purchases of mortgage loans held for sale |  |  | - |  |  |  | (122,263,204 | ) |  |  | (122,263,204 | )
Accounts receivable |  |  | 200,452 |  |  |  | 79,833 |  |  |  | 280,285 |
Derivative asset |  |  | - |  |  |  | (30,757 | ) |  |  | (30,757 | )
Loans held for sale |  |  | 8,294,039 |  |  |  | (8,294,039 | ) |  |  | - |
Prepaid expenses and other current assets |  |  | 266,443 |  |  |  | (57,335 | ) |  |  | 209,108 |
Deposits |  |  | 254,276 |  |  |  | 1,132 |  |  |  | 255,408 |
Accounts payable |  |  | 330,123 |  |  |  | (52,727 | ) |  |  | (277,396 | )
Promissory note issued for lease cancellation |  |  | - |  |  |  | 225,000 |  |  |  | 225,000 |
Accrued payroll |  |  | (96,159 | ) |  |  | 96,159 |  |  |  | - |
Right of use asset |  |  | (1,947,804 | ) |  |  | 1,947,804 |  |  |  | - |
Escrows held |  |  | (30,524 | ) |  |  | 30,524 |  |  |  | - |
Warehouse lines of credit, net |  |  | (8,237,999 | ) |  |  | 8,237,999 |  |  |  | - |
Deferred rent |  |  | (641,627 | ) |  |  | 641,627 |  |  |  | - |
Lease liability |  |  | 2,159,951 |  |  |  | (2,159,951 | ) |  |  | - |
Other changes |  |  | 145,691 |  |  |  | (145,691 | ) |  |  | - |
Accrued expenses and other liabilities |  |  | (60,908 | ) |  |  | 60,908 |  |  |  | - |
Net Cash Provided by (Used in) Operating Activities |  | $ | (8,436,877 | ) |  | $ | 8,948,344 |  |  | $ | 289,035 |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |
Purchase of property and equipment |  |  | (26 | ) |  |  | 26 |  |  |  | - |
Purchases of software and property and equipment |  |  | (1,914,772 | ) |  |  | (1 | ) |  |  | (1,914,773 | )
Net Cash Used in Investing Activities |  | $ | (1,914,798 | ) |  | $ | 25 |  |  | $ | (1,914,773 | )
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |
Payments from BDCRI loan |  |  | (71,575 | ) |  |  | 71,575 |  |  |  | - |
Net borrowings under warehouse line of credit |  |  | - |  |  |  | (8,237,999 | ) |  |  | (8,237,999 | )
Net borrowings under operating lines of credit |  |  | - |  |  |  | (1,025 | ) |  |  | (1,025 | )
Repayments under notes and convertible notes payable |  |  | - |  |  |  | (225,000 | ) |  |  | (225,000 | )
Proceeds from promissory note |  |  | 225,000 |  |  |  | (225,000 | ) |  |  | - |
Repayment of promissory note |  |  | (112,500 | ) |  |  | 112,500 |  |  |  | - |
Series A warrants exercised |  |  | 4,711,476 |  |  |  | (4,711,476 | ) |  |  | - |
Proceeds from convertible notes issued |  |  | 852,642 |  |  |  | (120,030 | ) |  |  | 732,612 |
Proceeds from convertible notes issued - related party |  |  | 2,985,148 |  |  |  | 615,852 |  |  |  | 3,601,000 |
Proceeds from the issuance of preferred stock upon warrant exercises |  |  | - |  |  |  | 4,711,476 |  |  |  | 4,711,476 |
Amortization of debt discount |  |  | 254,223 |  |  |  | (254,223 | ) |  |  | - |
2022 warrants issued |  |  | 169,442 |  |  |  | (169,442 | ) |  |  | - |
2022 warrants issued - related party |  |  | 593,226 |  |  |  | (593,226 | ) |  |  | - |
Repayments of demand notes - related party |  |  | (700,000 | ) |  |  | - |  |  |  | (700,000 | )
Proceeds from corporation note |  |  | 100,000 |  |  |  | (100,000 | ) |  |  | - |
Net Cash Provided by (Used in) Financing Activities |  | $ | 9,007,082 |  |  | $ | (9,126,018 | ) |  | $ | (118,936 | )
Effect of exchange rate changes on cash |  | $ | 70,298 |  |  | $ | (140,596 | ) |  |  | (70,298 | )
Net decrease in cash |  |  | (1,274,295 | ) |  |  | (540,675 | ) |  |  | (1,814,972 | )
Cash and cash equivalents - beginning of year |  |  | 1,407,520 |  |  |  | 540,675 |  |  | $ | 1,948,195 |
Cash and cash equivalents - end of year |  | $ | 133,223 |  |  | $ | - |  |  | $ | 133,223 |

X
- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-8 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-7 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-9 + Details
Name: | us-gaap_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | srt_ConsolidatedEntitiesAxis=EAST_BeelineFinancialHoldingsIncMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |