Company: ATLN
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001605888-25-000055
Chunk: 47

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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813,072 Net loss- - - - - -- - (54,911,719)(54,911,719)Stock based compensation- - - - - -- 4,506,066 - 4,506,066 Recapitalization of legacy company- - - - - 380,6484 (1,703,193)- (1,703,189)Deemed contribution of debt deconsolidation from related party- - - - - -- 15,284,178 - 15,284,178 Advisory fees paid in merger- - - - - 18,220,338182 42,999,818 - 43,000,000 Balance - June 30, 2024$- $- $- $- $- 44,024,715$440 $82,766,531 $(59,778,563)$22,988,408 Net loss- - - - - -- - (7,049,629)$(7,049,629)Stock based compensation- - - - - -- 285,483 - 285,483 Stock issued for RSUs- - - - - 1,300,00013 (13)- - Balance - September 30, 2024$- $- $- $- $- 45,324,715$453 $83,052,001 $(66,828,192)$16,224,262 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

4

ATLANTIC INTERNATIONAL CORP AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited) 

Nine Months EndedSeptember 30,20252024Net loss$(32,282,698)$(66,828,192)Adjustments to reconcile net loss to net cash provided by operating activities:Bad debt expense456,054 957,031 Amortization, deferred financing cost130,271 545,362 Interest paid in kind— 1,239,373 Loss on debt extinguishment— 1,213,379 Deferred income taxes—