Company: JUPGF
Filing Date: 2025-08-27
Form Type: DRS/A
Source: 0001493152-25-012379
Chunk: 168

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-08-27
Form: DRS/A
Chunk 168
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 we express no such opinion.

Our audits included performing procedures to assess the
risks of material misstatement of the financial statements, whether due to error or fraud and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Critical Audit Matters

The critical audit matters communicated below are matters arising from the current period audit of the financial statements that were communicated or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matters below, providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate.

Determination of accounting in an assets acquisition
transaction.

As discussed in note 2 to the consolidated financial
statement, On November 19, 2024, Jupiter Gold Corporation acquired the assets of Apollo Resource Corporation. Following the acquisition,
Jupiter

Gold Corporation was renamed Atlas Critical
Mineral Corporation. The transaction was accounted for as an asset acquisition between entities under common control in accordance with
ASC 805.

We identified the company’s determination
of the asset acquisition as a Critical Audit Matter due to the significant judgment and estimation involved in valuing the acquired assets
and liabilities and assessing whether the transaction qualified as a common control transaction.

The primary procedures we performed to address this critical audit matter included:

| 1. | Our                                                                                            
 audit procedures for this Critical Audit Matter included reviewing the relevant clauses of     
 the agreement to evaluate the accounting treatment of the transaction under US GAAP, assessing 
 the fair value of acquired assets estimated by management’s third-party valuation specialist   
 to determine the appropriateness of asset acquisition accounting, verifying the voting rights  
 held by management to confirm the transaction qualified as a common control transaction,       
 and reviewing the transfer of assets to ensure they were properly recorded at their historical 
 value in accordance with ASC 805-50                                                            |
| 2. | Evaluating                                                                                     
 the appropriateness of disclosures in the financial statements is in accordance with ASC       
 805-50 for Acquisition of