Company: JUPGF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001493152-25-008689
Chunk: 62

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-02-28
Form: 20-F
Item: Item 19
Chunk 62
---
 $                            -                $                             ( 10,525  
  Cash flows from financing activities:                                                                                                                                                                            
  Related party                                                                $                              ( 283,334      $                            638,545          $                               85,203  
  Net proceeds from sale of common stock                                       $                              1,595,750      $                            291,600          $                              489,875  
  Net cash provided by financing activities                                    $                              1,312,416      $                            930,145          $                              575,078  
  Effect of exchange rates on cash and cash equivalents                        $                                ( 8,347      $                            ( 74             $                              ( 5,891  
  Net increase in cash and cash equivalents                                    $                                303,403      $                            67,375           $                               24,589  
  Cash and cash equivalents at beginning of period                             $                                 92,813      $                            25,438           $                                  849  
  Cash and cash equivalents at end of period                                   $                                396,216      $                            92,813           $                               25,438  

The non-cash impacts of the
merger with Apollo did not impact the cash flow statement. Please refer to note 2 for the details of the balances merged into the Company’s
financial statements.

The
accompanying notes are an integral part of the consolidated financial statements.

  F-5  

ATLAS
CRITICAL MINERALS CORPORATION

NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS

NOTE
1 - ORGANIZATION, BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Organization
and Description of Business

On
July 27, 2016, Atlas Critical Minerals Corporation (“ Atlas Critical Minerals”) was incorporated as Jupiter Gold
Corporation (“ Jupiter Gold”) under the laws of the Republic of the
Marshall Islands. Concurrently, Atlas Lithium Corporation (“ Atlas Lithium”), a Nevada corporation, exchanged its 99.99 4,000,000 32.70

On
November 6, 2024, the Company and Apollo Resources Corporation, a Republic of the Marshall Islands corporation (“ Apollo”),
entered into an Agreement and Plan of Merger, which provided for, among other things, the merger of Apollo with and into the Company
(the “ Merger”), with the Company continuing its corporate existence as the surviving corporation. Prior to the Merger, Apollo
Resources was 44.66