v3.24.4
Condensed Consolidated Statements of Cash Flows (Unaudited) - Staffing 360 Solutions, Inc. - USD ($)
$ in Thousands
 9 Months Ended 12 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Dec. 30, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net Loss $ (7,370) $ (9,989) $ (26,041) $ (16,994)
Adjustments to reconcile net loss income to net cash used in operating activities:        
Depreciation and amortization 1,427 1,388 1,901 1,959
Amortization of debt discount and deferred financing costs 347 320 452 603
Bad debt expense 21    
Right of use assets depreciation 826 973    
Stock based compensation 545 1,167    
Changes in operating assets and liabilities:        
Accounts receivable (1,744) 178    
Prepaid expenses and other current assets (655) 88    
Other assets 831 7,403    
Accounts payable and accrued expenses (1,552) (31)    
Accrued Payroll Taxes 6,049    
Accounts payable, related party 555    
Other current liabilities (243) (247)    
Other long-term liabilities 435 (599)    
NET CASH (USED IN) PROVIDED BY CONTINUING OPERATING ACTIVITIES (549) 672    
Net cash used in discontinued operating activities: (3,007) (11,397)    
NET CASH USED IN OPERATING ACTIVITIES (3,556) (10,725)    
CASH FLOWS FROM INVESTING ACTIVITIES:        
Purchase of property and equipment (53) (138)    
NET (USED IN) CASH PROVIDED BY CONTINUING INVESTING ACTIVITIES (53) (138)    
Net cash used in discontinued investing activities 2,046 4,856    
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES 1,993 4,718    
CASH FLOWS FROM FINANCING ACTIVITIES:        
Third party financing costs, related party (653)    
Proceeds from related party note 2,000    
Repayment of term loans (900)    
Payment in kind 700    
Financing (repayments) on accounts receivable financing, net 2,140 (2,239)    
Warrant inducement, net 2,292    
Proceeds from sale of common stock 4,433    
Payments made on earnouts (500)    
NET CASH PROVIDED BY CONTINUING FINANCING ACTIVITIES 2,340 4,933    
Net cash provided by discontinued financing activities (256)    
NET CASH PROVIDED BY FINANCING ACTIVITIES 2,340 4,677    
NET INCREASE TO (DECREASE IN) CASH 777 (1,330)    
Effect of exchange rates on cash 19    
Cash – Beginning of period 721 1,992 1,992  
Cash – End of period $ 1,498 681   1,992
Previously Reported        
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net Loss     (26,041) (16,994)
Adjustments to reconcile net loss income to net cash used in operating activities:        
Depreciation and amortization     1,901 1,959
Amortization of debt discount and deferred financing costs     452 603
Bad debt expense     96 (284)
Right of use assets depreciation     1,317 1,390
Stock based compensation     1,393 623
Changes in operating assets and liabilities:        
Accounts receivable     3,431 3,414
Prepaid expenses and other current assets     457 (1,768)
Other assets     3,157 (2,178)
Accounts payable and accrued expenses     4,508 (712)
Accounts payable, related party     218
Other current liabilities     (152) (439)
Other long-term liabilities     (4,313) (4,009)
NET CASH (USED IN) PROVIDED BY CONTINUING OPERATING ACTIVITIES     (13,794) (18,177)
Net cash used in discontinued operating activities:     2,127 8,844
NET CASH USED IN OPERATING ACTIVITIES     (11,667) (9,333)
CASH FLOWS FROM INVESTING ACTIVITIES:        
Purchase of property and equipment     (320) (215)
Acquisition of business, net of cash acquired     2,498
NET (USED IN) CASH PROVIDED BY CONTINUING INVESTING ACTIVITIES     (320) 2,283
Net cash used in discontinued investing activities     (1,708) (581)
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES     (2,028) 1,702
CASH FLOWS FROM FINANCING ACTIVITIES:        
Third party financing costs, related party     (1,223) (619)
Repayment of term loans     (738) (14)
Proceeds from term loan     2,000 67
Financing (repayments) on accounts receivable financing, net     (3,510) (2,624)
Warrant inducement, net     2,292
Proceeds from sale of common stock     4,993 4,013
Payments made on earnouts     (160)
NET CASH PROVIDED BY CONTINUING FINANCING ACTIVITIES     3,814 663
Net cash provided by discontinued financing activities     6,897 6,698
NET CASH PROVIDED BY FINANCING ACTIVITIES     10,711 7,361
NET INCREASE TO (DECREASE IN) CASH     (2,984) (270)
Effect of exchange rates on cash     2,250 (2,381)
Cash – Beginning of period   $ 1,455 1,455 4,106
Cash – End of period     $ 721 $ 1,455