Company: ATLN
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001605888-25-000055
Chunk: 81

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 81
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 loss$(10,820,344)$(7,049,629)$(32,282,698)$(66,828,192)Denominator:Weighted average common shares outstanding, basic and diluted55,119,78144,688,84554,553,94532,774,837Net loss per share, basic and diluted$(0.20)$(0.16)$(0.59)$(2.04)Excluded anti-dilutive shares7,080,0511,077,0915,529,9021,077,091

Note 18: Subsequent EventsThe Company has evaluated subsequent events through November 12, 2025, as detailed below.During October 2025, the Company entered into agreements to sell future receivables which allows for the factoring of $5,055,000 of receivables. The Company received cash proceeds of $4,000,000 less $80,000 in origination fees. On October 31, 2025, the Company’s Bylaws were amended by the Board to allow for a quorum of shareholders to be one-third of the shareholders eligible to vote. On November 7, 2025, the stockholders approved the 2025 Omnibus Equity Incentive Plan (the “2025 Incentive Plan”). The Company initially reserved 10,000,000 shares of our common stock, par value $0.00001, for issuance under the 2025 Incentive Plan. The number of shares of common stock reserved for issuance under the 2025 Incentive Plan shall be adjusted upward to reflect 15% of the number of shares issued and outstanding as of December 31st of each year.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

The following discussion relates to Atlantic International Corp. (Atlantic or the Company) and its consolidated subsidiaries and should be read together with the Company’s Consolidated Financial Statements and accompanying notes included in Part I, Item 1.—Financial Statements of this Quarterly Report on Form 10-Q.

Overview

Atlantic, through its subsidiaries, is a national strategic staffing firm servicing the commercial, professional, finance, direct placement, and managed service provider verticals. Lyneer was formed under the principles of honesty and integrity, and with the view of becoming the preferred outside employer of choice. Since its formation, the Company has grown from a regional operation to a national staffing firm with offices and geographic reach across the