Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 326

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 326
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 The balance at December 30, 2023 is $ 5,000. Lease Obligations The Company is party to multiple lease agreements for office space. The agreements require monthly rental payments through September 2029. Total minimum obligations are approximately $ 1,358, $ 1,126, $ 1,021, $ 1,035, $ 1,072and $ 663for the years ending fiscal 2024, 2025, 2026, 2027, 2028 and beyond, respectively. For Fiscal 2023 and Fiscal 2022, rent expense amounted to $ 680and $ 1,388, respectively. Legal Proceedings Whitaker v. Monroe Staffing Services, LLC & Staffing 360 Solutions, Inc. On March 9, 2024, a Settlement and Release Agreement was entered into by both parties. Under this agreement, which was entered into to avoid costly court fees, the Company agreed to make a payment, in full and final settlement, of $ 2million plus interest across the following dates and amounts: $ 115on May 1, 2024, $ 114, on June 1 2024, $ 114on July 1 2024, $ 113on August 1 2024, $ 112on September 1 2024, and a final payment of $ 1,511on October 1, 2024. There is a five -daycure period for each payment and there is a Confession of Judgement in favor of the defendant for the full amount of the original Earnout plus interest, in the event of non -compliance. As of the date of this filing, we are not aware of any other material legal proceedings to which we or any of our subsidiaries is a party or to which any of our property is subject, other than as disclosed above.

NOTE 15 —SEGMENT INFORMATION

|                                                                 |     | Twelve Months Ended | December 30, 
         2023 |   |     |   | December 31, 
         2022 |   |
|:----------------------------------------------------------------|:----|:--------------------|-------------:|:--|:----|:--|-------------:|:--|
| Commercial Staffing – US                                        |     | $                   |       91,874 |   |     | $ |      108,205 |   |
| Professional Staffing – US                                      |     |                     |       99