Company: JUPGF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001493152-25-008689
Chunk: 78

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-02-28
Form: 20-F
Item: Item 19
Chunk 78
---
 the consolidated financial statements present fairly, in all material respects, the financial position
of the Company as of December 31, 2023, and 2022, and the results of its operations and its cash flows for the period ended December
31, 2023, in conformity with accounting principles generally accepted in the United States of America.

Company’s
Ability to Continue as a Going Concern

The
Company suffered losses from operations in CY 2023, and 2022, and has accumulated a deficit in the period ended December 31, 2023, and
2022, that raises substantial doubt about its ability to continue as a going concern. As discussed in Note 01 to the financial statements,
the accompanying consolidated financial statements have been prepared on a going-concern basis. Management’s plans in regard to these
matters are also described in Note 01. The financial statements do not include any adjustments that might result from the outcome of
this uncertainty.

Basis
for Opinion

These
financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s
financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board
(United States) (“ PCAOB”) and are required to be independent with respect to the Company in accordance with the U. S. federal
securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We
conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company
is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits
we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion
on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our
audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or
fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding
the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant
estimates made by management, as well as evaluating the overall presentation of the