Beeline Holdings, Inc. — Director's Dealing 2016

Nov 29, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Eastside Distilling, Inc. (ESDI)
CIK: 0001534708
Period of Report: 2016-11-25

Reporting Person: GLENBROOK CAPITAL LP (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-11-25	Common Stock	X	203846	$1.3	Acquired	855092	Direct
2016-11-25	Common Stock	X	96154	$1.3	Acquired	951246	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-11-25	Common Stock Purchase Warrants (right to buy)	$1.3	X	300000	Disposed	2019-06-04	Common Stock (300000)	Direct

Footnotes

F1: On November 25, 2016, the Issuer temporarily reduced the exercise price of its outstanding warrants from $2.00 ($0.10 prior to the October 18, 2016 reverse stock split) to $1.30, and the warrants were exercised at the reduced exercise price.

F2: The exercise price was paid by forgiveness of indebtedness of $125,000.20 owed by the Issuer to the reporting person pursuant to promissory notes.

F3: Reflects the 20-for-1 reverse stock split effective October 18, 2016.

F4: The warrants contain a blocker than prohibits the reporting person from exercising the warrants if such exercise will result in beneficial ownership by the reporting person and its affiliates of more than 9.99% of the Issuer's outstanding shares. The blocker may only be amended by written consent of both the Issuer and the reporting person. Since the reporting person's beneficial ownership percentage is over 9.99%, the warrants are currently not exercisable, absent a waiver. The blocker was waived by mutual consent of the Issuer and the reporting person as of November 25, 2016.

F5: The warrants were issued for any additional consideration in connection with the purchase by the reporting person of promissory notes.