Company: ATLN
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001605888-25-000019
Chunk: 42

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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332 Commitments and contingencies Stockholders’ (deficit) Preferred stock, $0.00001 par value; 20,000,000 shares authorized and none issued at March 31, 2025 and December 31, 2024, respectively— — Common stock, $.00001 par value; 300,000,000 shares authorized; 54,553,801 and 53,130,946 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 546 531 Additional paid-in capital 132,188,332 123,462,703 Accumulated deficit (146,224,075)(135,479,890)Total stockholders’ (deficit) (14,035,197)(12,016,656)Total liabilities and stockholders’ (deficit) $106,474,493 $122,751,676 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

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ATLANTIC INTERNATIONAL CORP. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

Three Months EndedMarch 31,20252024Service revenue, net$102,808,807 $100,623,212 Cost of revenue91,622,685 90,157,830 Gross profit11,186,122 10,465,382 Selling, general and administrative19,399,479 10,341,037 Depreciation and amortization1,236,389 1,259,554 (Loss) income from operations(9,449,746)(1,135,209)Interest expense1,284,822 5,022,230 Net loss before provision for income taxes(10,734,568)(6,157,439)Income tax (expense)/benefit(9,617)1,290,595 Net loss$(10,744,185)$(4,866,844)Net loss per share, basic and diluted$(0.20)$(0.19)Weighted-average shares outstanding, basic and diluted53,975,57525,423,729

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

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Table of Contents    

ATLANTIC INTERNATIONAL CORP AND SUBSIDIARIES

CONDENSED