Company: ATLN
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001605888-25-000031
Chunk: 48

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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 activities5,037,229 (4,217,266)Cash flows from investing activities  Purchase of property and equipment(30,073)(35,306)Net cash (used in) investing activities(30,073)(35,306)Cash flows from financing activities  Borrowings on revolving line of credit248,342,112 208,497,657 Payments on revolving line of credit(253,464,848)(213,755,250)Borrowing on credit agreement— 1,950,000 Deemed capital contribution from recapitalization— 6,666,216 Debt issuance costs payment(188,351)(19,500)Net cash (used in) provided by financing activities(5,311,087)3,339,123 Net decrease in cash and cash equivalents(303,931)(913,449)Cash and Cash Equivalents – Beginning of period678,676 1,352,927 Cash and Cash Equivalents – End of period$374,745 $439,478 Supplemental Disclosures of Cash Flow InformationCash paid during the period for:Interest$2,306,780 $4,051,095 Federal Income Taxes, net of refunds received$(201,384)$— State Income Taxes, net of refunds received$154,237 $17,100 Non-cash investing and financing activities:Settlement shares issued to legacy stockholders$2,378,471 $— Derecognition of debt, net related to debt deconsolidation$— $(68,946,155)Accretion of redeemable units to redemption value$— $133,162 Unpaid debt issuance costs added to Term Note$— $600,000 Notes payable issued for amounts due under contingent consideration arrangements$— $6,941,521 Deemed capital contribution$— $1,033,969 Change in related parties$— $(6,338,027)Deemed capital contribution from merger$— $8,617,962 Liabilities assumed in merger$— $1,703,193 Recapitalization of equity as a result of the Merger$— $73,580,989 

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

4

ATLANTIC INTERNATIONAL CORP AND SUBSIDIARIES

Notes to Condensed Consolidated