Company: JUPGF
Filing Date: 2025-11-12
Form Type: F-1/A
Source: 0001493152-25-021911
Chunk: 220

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-11-12
Form: F-1/A
Chunk 220
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 activities may generate intercompany receivables or payables that are in a currency other than the functional currency of the Company. Changes in exchange rates from the time the activity occurs to the time payments are made may result in the Company receiving either more or less in local currency than the local currency equivalent at the time of the original activity.

The Company’s condensed consolidated financial statements are denominated in U.S. dollars. Accordingly, changes in exchange rates between the applicable foreign currency and the U.S. dollar affect the translation of each foreign subsidiary’s financial results into U.S. dollars for purposes of reporting in the condensed consolidated financial statements. The Company’s foreign subsidiaries translate their financial results from the local currency into U.S. dollars in the following manner: (a) income statement accounts are translated at average exchange rates for the period; (b) balance sheet asset and liability accounts are translated at end of period exchange rates; and (c) equity accounts are translated at historical exchange rates. Translation in this manner affects the shareholders’ equity account referred to as the foreign currency translation adjustment account. This account exists only in the foreign subsidiaries’ U.S. dollar balance sheets and is necessary to keep the foreign subsidiaries’ balance sheets in agreement.

NOTE 6 – SUBSEQUENT EVENTS

In accordance with FASB ASC 855-10 Subsequent Events, the Company has analyzed its operations subsequent to June 30, 2025 to the date these consolidated financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these consolidated financial statements, except for the described below:

Reverse Stock Split

On October 8, 2025, the Company’s board of directors authorized a reverse stock split of its outstanding common stock at a ratio of 1-for-5. Prior to the consummation of the initial public offering, the reverse stock split will be effected such that (i) each 5 shares of outstanding common stock will be reduced to one share of common stock; (ii) the number of shares of common stock into which outstanding warrants or options to purchase common stock is exercisable will be proportionately reduced; and (iii) the exercise price of each outstanding warrant or option to purchase common stock will be proportionately increased. The consolidated financial statements of The Company give retroactive effect as though the 1-for-5 reverse stock split occurred for all periods presented, without any change in the par value per share or in the authorized number of common shares. Fractional shares resulting from the reverse stock split have been rounded up