Company: JUPGF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001493152-25-008689
Chunk: 36

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 36
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models require the input of highly complex and subjective variables including the expected life of options granted and the expected volatility
of our stock price over a period equal to or greater than the expected life of the options. Because changes in the subjective assumptions
can materially affect the estimated value of our employee stock options, it is management’s opinion that the Black-Scholes option-pricing
model may not provide an accurate measure of the fair value of our employee stock options. Although the fair value of employee stock
options is determined in accordance with ASC Topic 718 using an option-pricing model, that value may not be indicative of the fair value
observed in a willing buyer/willing seller market transaction.

On
June 20, 2018, the FASB issued ASU 2018-07 which simplifies the accounting for share-based payments granted to non-employees for goods
and services. Under the ASU, most of the guidance on such payments to non-employees would be aligned with the requirements for share-based
payments granted to employees.

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  Table of Contents  

Equity
classified share-based payments for employees are fixed at the time of grant. Equity-classified non-employee share-based payment awards
are measured at the grant date of the award which is the same as share-based payments for employees. We adopted the requirements
of the new rule as of January 1, 2019, the effective date of the new guidance.

Foreign
Currency

Our subsidiaries, MJL, MAL, MDB and RST, use their local currency (Brazilian Real) as their functional currency. Resulting
translation gains or losses are recognized as a component of accumulated other comprehensive income. Transaction gains or losses related
to balances denominated in a currency other than the functional currency are recognized in the consolidated statements of operations.

Item
6. Directors, Senior Management and Employees.