Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 375

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 375
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 |         3,805 |
| Income taxes                                 |     |                   |             — |     |   |             — |
| Non-Cash Investing and Financing Activities: |     |                   |               |     |   |               |
| Redeemable Series H preferred stock, net     |     | $                 |           700 |     |   |             — |
| Modification of Series H                     |     |                   |               |     | $ |         1,900 |
| Debt discount – Series H                     |     | $                 |            72 |     | $ |           111 |
| Debt discount – Related party note           |     | $                 |           275 |     | $ |            91 |

F-75 STAFFING 360 SOLUTIONS, INC. AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(All amounts in thousands, except share, per share and stated value per share)
(UNAUDITED) NOTE 14 — DISCONTINUED OPERATIONS In December 2023, given the recurring losses of Professional Staffing UK, management committed to a plan to sell the assets of Professional Staffing UK. On January 6, 2024 Staffing 360 Solutions Limited, a UK Subsidiary, filed a Notice of Intent with the High Court of Justice in the UK, stating the Company’s intention to appoint administrators to save the business from liquidation. Administrators were appointed on January 18, 2024, and the business was transferred to new owners on February 12, 2024. A gain on the transfer of the UK entity of $ 901was recognized in the Statement of Operations for the period ended September 28, 2024. NOTE 15 — SUBSEQUENT EVENTS Nasdaq Compliance On June 20, 2024, the Company received a letter from the Staff (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”) pertaining to its non -compliancewith Nasdaq Listing Rule 5550(b)(1), the requirement to maintain a minimum stockholders’ equity of $ 2.5million. On June 14, 2024 and August 5, 2024, the Company submitted its plan to Nasdaq to regain compliance with the minimum stockholders’ equity requirement and on August 13, 2024, the Company received a letter from the Staff indicating the Staff determined to deny the Company’s request for continued