Company: JUPGF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001493152-25-008689
Chunk: 69

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-02-28
Form: 20-F
Item: Item 19
Chunk 69
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 formation date on or after January 1, 2025. Early adoption and retrospective
application of the amendments are permitted. We do not expect adoption of the new guidance to have a material impact on our consolidated
financial statements and disclosures.

In
November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, amending reportable
segment disclosure requirements to include disclosure of incremental segment information on an annual and interim basis. Among the disclosure
enhancements are new disclosures regarding significant segment expenses that are regularly provided to the chief operating decision-maker
and included within each reported measure of segment profit or loss, as well as other segment items bridging segment revenue to each
reported measure of segment profit or loss. The amendments in ASU 2023-07 are effective for fiscal years beginning after December 15,
2023, and for interim periods within fiscal years beginning after December 15, 2024, and are applied retrospectively. Early adoption
is permitted. Management does not expect this new guidance to have any impacts on the Company’s consolidated financial statements.

In
December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvement to Income Tax Disclosures, amending income tax disclosure
requirements for the effective tax rate reconciliation and income taxes paid. The amendments in ASU 2023-09 are effective for fiscal
years beginning after December 15, 2024 and are applied prospectively. Early adoption and retrospective application of the amendments
are permitted. We do not expect adoption of the new guidance to have a material impact on our consolidated financial statements and disclosures.

In November 2024, the FASB issued ASU 2024-03, Income
Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement
Expenses. The amendments in this Update require disclosure, in the notes to financial statements, of specified information about certain
costs and expenses. The amendments in this Update are effective for annual reporting periods beginning after December 15, 2026, and interim
reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company will analyse the impacts of this Update
in the upcoming years and anticipate that it will not adopt the Update early.

In November 2024, the FASB issued ASU 2024