Company: ATLN
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001605888-25-000055
Chunk: 117

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 117
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olver.The Company recognized $456,054 and $957,031 bad debt expense during the periods ended September 30, 2025 and September 30, 2024, respectively

None of the Company’s customers accounted for more than 10% of the Company’s accounts receivable as of September 30, 2025 and December 31, 2024. 

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Note 5: Property and EquipmentProperty and equipment consisted of the following: September 30,2025December 31,2024Estimated Useful LifeComputer equipment and software$848,412 $803,917 3 yearsOffice equipment94,876 94,876 5 yearsFurniture and fixtures169,258 169,258 7 yearsLeasehold improvements18,420 18,420 Lesser of lease term or asset lifeTotal$1,130,966 $1,086,471 Less: accumulated depreciation and amortization(883,297)(778,851)Property and equipment, net$247,669 $307,620 Total depreciation expense of $31,974 and $47,223 was recorded during the three months ended September 30, 2025 and 2024, respectively and $104,446 and $159,165 was recorded during the nine months ended September 30, 2025 and 2024, respectively and is included in “depreciation and amortization” in the accompanying consolidated condensed statements of operations.

Note 6: Intangible AssetsIntangible assets consisted of the following:September 30, 2025December 31, 2024Gross Carrying AmountAccumulated Amortization Net Carrying AmountGross Carrying AmountAccumulated Amortization Net Carrying AmountCustomer Relationships$35,000,000 $(9,534,444)$25,465,556 $35,000,000 $(7,784,444)$27,215,556 Trade Name12,400,000 (10,065,000)2,335,000 12,400,000 (8,220,000)4,180,000 Total intangible assets$47,400,000 $(19,599,444)$27,800,556 $47,400,000 $(16,004,444)$31,395,556 Total amortization expense of $1,198,334 was recorded during each of the three months ended September 30,