Company: ATLN
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001605888-25-000055
Chunk: 48

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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(19,776,767)Settlement claim to be paid in shares— 11,101,671 Shares issued for services836,400 43,000,000 Depreciation and amortization expense3,699,446 3,754,165 Right-of-use asset amortization1,249,288 1,246,078 Share based compensation19,019,485 4,791,549 Changes in operating assets and liabilities:  Accounts receivable16,166,836 9,048,158 Unbilled accounts receivable(3,037,446)(5,264,240)Prepaid expenses and other current assets(859,600)(377,531)Due from related parties(6,492,863)— Other assets26,628 (179,645)Accounts payable3,270,258 585,409 Due to related parties(2,091,035)(117,040)Income taxes payable— 13,913 Accrued expenses and other current liabilities4,935,696 17,672,122 Contingent consideration liability— (6,941,521)Operating lease liability(1,244,669)(1,241,992)Net cash provided by (used in) operating activities3,782,051 (5,558,718)Cash flows from investing activities  Purchase of property and equipment(44,495)(50,372)Net cash (used in) investing activities(44,495)(50,372)Cash flows from financing activities  Borrowings on revolving line of credit355,432,899 316,548,608 Payments on revolving line of credit(359,577,374)(319,191,401)Borrowing on credit agreement— 1,950,000 Deemed capital contribution from recapitalization— 6,666,216 Debt issuance costs payment(188,351)(319,500)Net cash (used in) provided by financing activities(4,332,826)5,653,923 Net increase/(decrease) in cash and cash equivalents(595,270)44,833 Cash and Cash Equivalents – Beginning of period678,676 1,352,927 Cash and Cash Equivalents – End of period$83,406 $1,397,760 Supplemental Disclosures of Cash Flow InformationCash paid during the period for:Interest$3