ATLANTIC INTERNATIONAL CORP
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 14, 2024
CIRC$0.18-13.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets
| September 30,2024 | December 31,2023 | |
|---|---|---|
| (Unaudited) | ||
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $1,397,760 | $1,352,927 |
| Accounts receivable, net of allowance of $2,726,107 and $1,902,140 | 48,813,643 | 58,818,832 |
| Unbilled accounts receivable | 10,924,993 | 5,660,753 |
| Prepaid expenses and other current assets | 5,343,467 | 4,965,936 |
| Deposits, current | 8,000,000 | 8,000,000 |
| Total current assets | 74,479,863 | 78,798,448 |
| Noncurrent assets | ||
| Property and equipment, net | 323,902 | 432,695 |
| Right-of-use assets | 2,306,152 | 2,368,677 |
| Intangible assets, net | 32,593,889 | 36,188,889 |
| Due from related parties | — | 1,150,000 |
| Deferred tax assets, net | 25,019,377 | 5,242,610 |
| Other assets | 914,935 | 2,485,290 |
| Total non-current assets | 61,158,255 | 47,868,161 |
| Total assets | $135,638,118 | $126,666,609 |
| Liabilities and stockholders’ equity (deficit) | ||
| Current liabilities | ||
| Accounts payable | $1,384,977 | $799,568 |
| Accrued expenses and other current liabilities | 32,026,902 | 16,044,095 |
| Due to related parties | 2,833,169 | 4,384,178 |
| Current operating lease liabilities | 1,425,547 | 1,436,813 |
| Notes payable, current portion | 1,375,000 | 48,680,290 |
| Notes payable, current portion – related parties | 42,778,061 | 5,127,218 |
| Line of credit, current portion | — | 85,092,695 |
| Total current liabilities | 81,823,656 | 161,564,857 |
| Non-current liabilities | ||
| Line of credit, net of current portion | 1,950,000 | — |
| Notes payable, net of current portion – related parties | 34,706,522 | — |
| Noncurrent operating lease liabilities | 933,678 | 980,851 |
| Other liabilities | — | 3,474,954 |
| Total non-current liabilities | 37,590,200 | 4,455,805 |
| Total liabilities | 119,413,856 | 166,020,662 |
| Commitments and contingencies | ||
| Stockholders’ equity (deficit) | ||
| Common stock, $.00001 par value; 300,000,000 shares authorized; 45,324,715 and 25,423,729 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively | 453 | 254 |
| Additional paid-in capital | 83,052,001 | 22,449,809 |
| Accumulated deficit | (66,828,192) | (61,804,116) |
| Total stockholders’ equity (deficit) | 16,224,262 | (39,354,053) |
| Total liabilities and stockholders’ equity (deficit) | $135,638,118 | $126,666,609 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.