Company: JUPGF
Filing Date: 2025-09-15
Form Type: F-1
Source: 0001493152-25-013292
Chunk: 180

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-09-15
Form: F-1
Chunk 180
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 may be used to measure fair value:

Level 1. Observable inputs such as quoted prices in active markets;

Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and

Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

As of December 31, 2024, the Company did not have any level 2 or 3 assets or liabilities.

the Company’s financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses. The carrying amount of these financial instruments approximates fair value due to either length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these consolidated financial statements.

Cash and Cash Equivalents

The Company considers all highly liquid instruments purchased with a maturity of three months or less to be cash equivalents to the extent that the funds are not being held for investment purposes. Funds held in Brazilian banks are insured up to 250,000Brazilian Real (approximately $ 40,373based on the December 31, 2024 exchange rate).

Trade Receivable

Trade receivables represent amounts to be received
from clients due to the sale of quartzite products. The Company recognizes it following revenue recognition when control of the
product is transferred to customers and the company has an unconditional right to receive payment for it.

Initial recognition is made at fair value, which usually
corresponds to the price of the transaction (invoice), and subsequently assessed to determine the recoverability of the amounts in every
balance sheet date.

Inventories

The Company values its inventories in accordance with ASC 330 - Inventory,
which requires that inventories be valued at the lower of cost or market. The cost of inventories is determined using the weighted average
cost method.

Property and Equipment

Property and equipment are stated at cost. Major improvements and betterments are capitalized. Maintenance and repairs are expensed as incurred. Depreciation is computed using the straight-line method over the estimated useful life. At the time of retirement or other disposition of property and equipment, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the statements of operations as other gain or loss, net.

| F-9 |

The diamond and gold processing plant, facilities and other machinery are depreciated over an estimated useful life of ten years; vehicles are depreciated over an estimated life of five years; and computer and