Company: ATLN
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006537
Chunk: 324

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-24
Form: 424B3
Chunk 324
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 |      (23,383 | ) |
| Deferred tax assets, net of valuation allowance     |     |   |        3,406 |   |     |   |        4,167 |   |
| Deferred tax liabilities:                           |     |   |              |   |     |   |              |   |
| Deprecation                                         |     |   |       (1,178 | ) |     |   |       (1,507 | ) |
| Basis differences in acquired intangibles           |     |   |       (1,064 | ) |     |   |       (1,347 | ) |
| Debt Issuance Cost                                  |     |   |            — |   |     |   |           (9 | ) |
| Operating lease – Right-of-use assets               |     |   |       (1,392 | ) |     |   |       (1,482 | ) |
| Total deferred tax liabilities                      |     |   |       (3,634 | ) |     |   |       (4,345 | ) |
| Deferred tax liability                              |     | $ |         (228 | ) |     | $ |         (178 | ) |

F-43

STAFFING 360 SOLUTIONS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FISCAL YEARS ENDED DECEMBER 30, 2023 AND DECEMBER 31, 2022 (All amounts in thousands) NOTE 18 — INCOME TAXES (cont.) During Fiscal 2023 and Fiscal 2022, the Company has federal net operating losses (“NOLs”) of $28,010 and $29,635. Of the $28,010 in federal NOL carryforwards, $24,505 will begin to expire in 2029 and $13,565 can be carried forward indefinitely, subject to an 80% taxable income limitation in the year of utilization and $10,060 that will expire due to the previous Section 382 limitations and Uncertain Tax Position taken in 2016. As of November 15, 2018, the Company had a change in ownership under Section 382. As such, the Company reduced the Federal NOLs available by $7,220. In 2021, the Company had two additional changes in ownership on February 12, 2021 and November 1, 2021, the Company had a change in