Company: JUPGF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001493152-25-008689
Chunk: 0

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-02-28
Form: 20-F
Item: Item 3
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Item
3. Key Information.

3. A. [Reserved].

3. B. Capitalization and Indebtedness.

Not
applicable.

3. C. Reasons for the Offer and Use of Proceeds.

Not
applicable.

3. D. Risk Factors.

You
should carefully consider the following risk factors and all other information contained in this Annual Report before purchasing
our securities. If any of the following risks occur, our business, financial condition or results of operations could be materially
and adversely affected, in which case, the value of our shares could decline, and you may lose some or all of your investment.

   2  

  Table of Contents  

Business
Risks

Our
future performance is difficult to evaluate because we have a limited operating history.

Although
we were incorporated in 2016, we only began to implement our current business strategy in 2024. Our current business strategy is
focused on the exploration of critical minerals, and, through legacy operations, the exploration of iron and gold as well as
quartzite production and sales. While we have had a small amount of revenue from the sale of quartzite mined by us, we have not
realized any revenues to date from the sale of other minerals within our portfolio. Our operating cash flow needs
have been financed primarily through debt or equity and not through cash flows derived from our operations. As a result, we have
little historical financial and operating information available to help you evaluate and predict our future performance. There can
be no assurance that our efforts will be successful or that we will ultimately be able to attain profitability.

There
is substantial doubt about our ability to continue as a going concern.

We
have received an unqualified opinion that included an explanatory paragraph on “going concern” from our independent
registered public accounting firm, reflecting substantial doubt about our ability to continue as a going concern. Since we have been
in business, we have not been profitable and such condition raises substantial doubt about our ability to continue as a going
concern. There is uncertainty regarding our ability to implement our business plan and to grow our business to a greater extent than
we can with our existing financial resources without additional financing. Our long-term future growth and success is dependent upon
our ability to raise additional capital and implement our business plan. There is no assurance that we will be successful in
implementing our business plan or that we will be able to generate sufficient cash from operations, the sale of securities, or the
borrowing of