Company: JUPGF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001493152-25-008689
Chunk: 74

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-02-28
Form: 20-F
Item: Item 19
Chunk 74
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,626 489,875

Preferred
A Stock

In
2016, the Company issued to Marc Fogassa, its
Founder, Chief Executive Officer, and Chairman, one share of a Series A Convertible Preferred Stock (“ Preferred A Stock”).
The Certificate of Designations, Preferences and Rights of Preferred A Stock provides that for so long as it is issued and outstanding,
its holders shall vote together as a single class with the holders of the Company’s common stock, with the
holders of Preferred A Stock being entitled to 51% of the total votes on all such matters regardless of the actual number of shares of
Preferred A Stock then outstanding, and the holders of common stock are entitled to their proportional share of the remaining 49% of
the total votes based on their respective voting power.

Stock
Options

During
the year ended December 31, 2024, the Company granted Mr. Fogassa as contractual compensation options to purchase an aggregate
of 210,000 shares of its common stock. Such options corresponded
to the period between January 1, 2024 to June 30, 2024. The options issued in 2024 were valued at $ 41,938 in total. The options were valued using the Black-Scholes
option pricing model with the following average assumptions: our stock price on date of grant $ 0.74 to $ 1.00,
a strike price of $ 0.01 to $ 1.00,
illiquidity discount of 75%,
expected dividend yield of 0%,
annualized volatility of 241%
to 312%,
risk-free interest rate of 3.88%
to 4.64%,
and an expected term of five to ten
years.

During
the year ended December 31, 2023, the Company granted Mr. Fogassa as contractual compensation options to purchase an aggregate
of 420,000 shares of its common stock. Such awards corresponded
to the period between January 1, 2023, to December 31, 2023. The options issued in 2023 were valued at $ 115,038 in total. The options were valued using the Black-Scholes
option pricing model with the following average assumptions: our stock price on date of grant $ 0.65 to $ 2.10,
a strike price of $ 0.01 to $ 1.00,
illiquidity discount of 75%,
expected dividend