Company: ATLN
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001605888-25-000031
Chunk: 11

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 3
Chunk 11
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 Any sales by the lender of IDC’s common stock of our Company, may have an adverse effect on the market price of our common stock resulting in a diminution in the value of disputes or other developments related to proprietary rights, including patents, litigation matters or our ability to obtain intellectual property protection for our technologies.  

In April 2025, IDC’s secured debt holders, BMO and SPP, foreclosed on the IDC portion of the joint and several debt owed to BMO and SPP.   IDC’s shares of the Company were divided between BMO and SPP resulting in SPP owning 21,983,926  shares of the Company and BMO owning another 3,439,803.  These shares have not been transferred yet and the transfers are still pending at the company’s transfer agent. 

42

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

None