Company: JUPGF
Filing Date: 2025-10-08
Form Type: F-1/A
Source: 0001493152-25-017439
Chunk: 212

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-10-08
Form: F-1/A
Chunk 212
---
 planned to be started in the second half of 2025.                                                                                   |
| ● | Quartzite:                                                                                                                              
 the deposit is also located in Minas Gerais. In 2024, full mining operations were started, producing and selling quartzite blocks       
 and beneficiated slabs to clients in Brazil and abroad.                                                                                 |

Basis of Presentation and Principles of Consolidation

The unaudited interim financial information presented in the financial statements has been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), consistent in all material respects with those applied in our 2024 Form 20-F, and are expressed in United States dollars. The information included in these Condensed Consolidated Financial Statements should be read in conjunction with the consolidated financial statements and accompanying notes included in our 2024 Form 20-F. For the period ended June 30, 2025 the condensed consolidated financial statements include the accounts of the Company, its 99.99% owned subsidiary, Mineração Jupiter Ltda and the 100% owned subsidiaries Mineração Apollo Ltda, Mineração Duas Barras Ltda and RST Recursos Minerais Ltda.

All material intercompany accounts and transactions have been eliminated in consolidation.

Segment reporting

The Company has one reportable segment: mining. The mining segment derives revenue in Brazil by mining, beneficiating and selling material mined from the Company’s several mining rights. Currently the Company generates revenue solely from its operating Quartzite project. The other mining projects are in exploration phase.

The accounting policies of the mining segment are the same as those described in the summary of significant accounting policies.

The chief operating decision maker (CODM) of the mining segment is the Company’s chief executive officer. The CODM regularly reviews the revenue, significant expenses categories, including exploration and evaluation costs, and general and administrative expenses.

| F-34 |

Total segment assets as of June 30, 2025, were $ 2,943,084, primarily consisting of Mineral rights. These mineral rights are used by the CODM in decision-making, including resources allocation, based on the exploration plan for the assets.

The CODM uses the gross profit of the reportable segment, presented on the Company’s consolidated statements of operation, as the only profit and loss measure for the decision-making process for the allocation of resources.

All of the Company’s revenue and long-lived assets are located in Brazil. For the six-month period ended June 30, 2025, the Company had