Company: JUPGF
Filing Date: 2025-11-12
Form Type: F-1/A
Source: 0001493152-25-021911
Chunk: 197

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-11-12
Form: F-1/A
Chunk 197
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 of period                        |     | $                                      |      5,973 |   |
| Cash and cash equivalents at end of period                              |     | $                                      |      2,857 |   |

| F-18 |

<div align='center'>APOLLO RESOURCES CORPORATION

FINANCIAL STATEMENTS

December 31, 2023 and 2022

Report of Independent Registered Public Accounting Firm</div>

To the Shareholders and the Board of Directors of Apollo Resources Corporation (Apollo)

Opinion on the Financial Statements

We have audited the accompanying consolidated balance
sheets of Apollo Resources Corporation (“Apollo”) (“the Company”) as of December 31, 2023, and 2022, the related
statements of income, changes in stockholders’ equity, and cash flows for the period ended December 31, 2023 and December 31, 2022
and the related notes (collectively referred to as the “Consolidated financial statements”). In our opinion, based on our
audit, 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 each of the two years in the period ended December 31, 2023
and December 31, 2022, 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 CY 2022 and has an accumulated deficiency 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 1 to the financial statements, the accompanying financial statements
have been prepared on a going-concern basis. Management’s plans in regard to these matters are also described in Note 1. 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