Company: JUPGF
Filing Date: 2025-05-02
Form Type: DRS
Source: 0001641172-25-008279
Chunk: 179

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-05-02
Form: DRS
Chunk 179
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 are currently evaluating the impact of this update on our consolidated financial statements and disclosures.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvement to Income Tax Disclosures, amending income tax disclosure requirements for the effective tax rate reconciliation and income taxes paid. The amendments in ASU 2023-09 are effective for fiscal years beginning after December 15, 2024 and are applied prospectively. Early adoption and retrospective application of the amendments are permitted. We do not expect adoption of the new guidance to have a material impact on our consolidated financial statements and disclosures.

| F-27 |

NOTE 2 – COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS

Proper, Plant and equipment

The following table sets forth the components of the Company’s Property Plant and Equipment as at December 31, 2023 and 2022:

SCHEDULE OF PROPERTY AND EQUIPMENT

|                                    |     | December 31, 2023 |           |     |              |   |     |          |           |
|:-----------------------------------|:----|:------------------|----------:|:----|:-------------|:--|:----|:---------|----------:|
|                                    |     | Cost              |           |     | Accumulated  
 Amortization |   |     | Net Book 
 Value    |           |
| Machinery and equipment            |     | $                 |         - |     |              | - |     | $        |         - |
| Mining rights                      |     | $                 | 1,059,862 |     |              | - |     | $        | 1,059,862 |
| Total Property Plant and Equipment |     | $                 | 1,059,862 |     |              | - |     | $        | 1,059,862 |

|                                    |     | December 31, 2022 |           |     |              |       |     |          |           |
|:-----------------------------------|:----|:------------------|----------:|:----|:-------------|------:|:----|:---------|----------:|
|                                    |     | Cost              |           |     | Accumulated  
 Amortization |       |     | Net Book 
 Value    |           |
| Machinery and equipment            |     | $                 |     4,063 |     | $            | 2,589 |     | $        |     1,