Company: JUPGF
Filing Date: 2025-07-25
Form Type: DRS/A
Source: 0001641172-25-021053
Chunk: 172

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-07-25
Form: DRS/A
Chunk 172
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 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 Assets in Note 2 to the consolidated financial statement.            |

/s/ Pipara & Co LLP

For, Pipara & Co LLP (6841)

We have served as the Company’s auditor since 2024

Place: Mumbai, India

Date:

| F-2 |

<div align='center'>ATLAS CRITICAL MINERALS CORPORATION

CONSOLIDATED BALANCE SHEETS</div>

| ASSETS                                                                                                                             
 Current assets:                                                                                                                    |     | December 31, 
 2024         |            |   |     | December 31, 
 2023         |            |   |     | December 31, 
 2022         |            |   |
|:-----------------------------------------------------------------------------------------------------------------------------------|:----|:-------------|-----------:|:--|:----|:-------------|-----------:|:--|:----|:-------------|-----------:|:--|
| Cash and cash equivalents                                                                                                          |     | $            |    396,216 |   |     | $            |     92,813 |   |     | $            |     25,438 |   |
| Related parties transactions                                                                                                       |     |              |          - |   |     |              |          - |   |     |              |          - |   |
| Trade Receivable                                                                                                                   |     | $            |     47,682