Company: ATLCL
Filing Date: 2025-03-19
Form Type: CORRESP
Source: 0001437749-25-008467
Chunk: 9

Company: Atlanticus Holdings Corp
Filing Date: 2025-03-19
Form: CORRESP
Chunk 9
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 Appendix A (Financial Analysis), the Company is able to conclude that there is not a substantial likelihood that the identified misstatements in prior periods when considered in conjunction with the surrounding facts and circumstances would have been viewed by a reasonable investor as having significantly altered the 'total mix' of information made available by the Company. To summarize the detailed analysis, the following are some of the primary considerations for both the 2023 annual and 2024 quarterly assessments of materiality:

| ● | Quantitatively, the misstatements identified in prior period financials appear to be immaterial to all periods. |

| ● | The change in methodology would have no significant changes to earnings or net income as a result of the correction of the error. |

| ● | Furthermore, an analysis of the quarterly and annual impact on financial statements indicates that there is not a significant impact on the financial statements that would alter an investor’s decision. |

| ● | Qualitatively, the misstatements had no significant impact to key metrics that are important to investors and analysts. |

| ● | The previously reported financial statements were not more favorable comparisons to consensus than would have been reported if corrected. The rollover impact for Q1 2024 would have been an inconsequential decrease in quarterly income amounts, but all other periods would have increased income, as supported by the period over period financial analysis performed. |

| ● | Executive compensation and performance would not have been impacted by any of the misstatements. |

| ● | None of the Companies covenants for debt or other financial instruments would have impacted by the misstatements in any period. |

In summary, management’s valuation methodology was established previously in good faith with the intent of providing investors with accurate valuation and presentation of financial information. While inconsistent with GAAP, the intent of management inputs in the fair value measurement was centrally for the benefit of financial statement users to have a consistent market view of the fair value of the assets. This intent, while inconsistent with GAAP, was central to management’s mission in generating financial statements to provide information that best represents the financial position of the Company for investors to make decisions.

8

Confidential Treatment Requested by Atlanticus Holdings Corporation

AHC2 - 008

IV. Conclusion

Based on the analysis by management, a restatement of prior periods is not required, and management’s current period adjustments will not materially misstate the current period, so no revision to prior period amounts (a little “r” restatement) is necessary. All known misstatements have been corrected as of