Company: ATLN
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001605888-25-000006
Chunk: 110

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 8
Chunk 110
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 to net cash used in/provided by operating activities:Bad debt expense957,031 1,526,985 Amortization, deferred financing cost594,275 673,322 Loss on debt extinguishment1,213,379 189,951 Interest paid in kind1,239,373 1,990,692 Change in estimated fair value of contingent consideration— (150,093)Deferred income taxes5,242,610 (5,144,846)Settlement claim to be paid in shares11,101,671 — Shares issued for services43,000,000 — Depreciation and amortization expense4,991,864 5,038,218 Share based compensation45,202,329 — Expenses paid by IDC— 1,840,855 Changes in operating assets and liabilities:Accounts receivable(6,212,536)659,233 Unbilled accounts receivable(3,707,812)646,253 Prepaid expenses and other current assets(1,011,999)(3,020,213)Prepaid income taxes79,520 (1,014,262)Due from related parties— (1,689,764)Deposits5,049 7,637 Other assets(230,360)(572,881)Right of use assets300,771 1,472,096 Accounts payable1,228,532 631,857 Due to related parties1,033,969 (549,777)Income taxes payable13,913 (66,317)Accrued expenses and other current liabilities31,685,592 5,162,350 Contingent consideration liability(6,941,521)— Operating lease liability(290,796)(1,461,873)Net cash used in operating activities(5,985,036)(9,082,597)Cash flows from investing activities Purchase of property and equipment, net(73,456)(73,711)Net cash used in investing activities(73,456)(73,711)Cash flows from financing activities Borrowings on revolving line of credit440,079,628 406,301,822 Payments on revolving line of credit(442,992,103)(397,468,748)Borrowings on credit agreement1,950,000 — Deemed capital contribution from recapitalization6,666,216 — De