Company: JUPGF
Filing Date: 2025-12-08
Form Type: F-1/A
Source: 0001493152-25-026653
Chunk: 51

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-12-08
Form: F-1/A
Chunk 51
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, which is the midpoint of the estimated public offering price range set forth on the cover page of this prospectus.

The number of shares of our common stock outstanding after the completion of this offering will be 4,272,353, which is based on 3,472,353 shares of our common stock outstanding as of December 8, 2025, plus 800,000 shares of common stock to be issued in the offering. The number of outstanding shares of our common stock excludes the following:

| ● | 84,730 shares of common                                                                                                        
 stock issuable upon the exercise of outstanding options with a weighted average exercise price of $2.59 per share and weighted 
 average time to expiration of 3.48 years;                                                                                      |
| ● | 96,000 shares of common stock                                                                                                  
 reserved for the future issuance of awards under our 2016 Stock Incentive Plan;                                                |
| ● | one share of common stock issuable upon the conversion of our outstanding                                                      
 Series A Preferred.                                                                                                            |

| 34 |

<div align='center'>MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</div>

The following discussion of our financial condition and results of operations should be read in conjunction with our audited consolidated financial statements and the notes to those financial statements appearing elsewhere in this prospectus.

This prospectus contains forward-looking statements. Forward-looking statements for Atlas Critical Minerals reflect current expectations, as of the date of this prospectus, and involve certain risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include, among others: unprofitable efforts resulting not only from the failure to discover mineral deposits, but also from finding mineral deposits that, though present, are insufficient in quantity and quality to return a profit from production; market fluctuations; government regulations, including regulations relating to royalties, allowable production, importing and exporting of minerals, and environmental protection; competition; the loss of services of key personnel; unusual or infrequent weather phenomena, sabotage, government or other interference in the maintenance or provision of infrastructure as well as general economic conditions.

Results of Operations

Except as may be otherwise indicated, all dollar amounts are stated in U.S. dollars, our reporting currency. The following table sets out the exchange rates, based on the data from the website of Brazil’s “Banco Central” (