Company: JUPGF
Filing Date: 2025-08-11
Form Type: DRS/A
Source: 0001641172-25-022982
Chunk: 175

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-08-11
Form: DRS/A
Chunk 175
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U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance
with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were
we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an
understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the
Company's internal control over financial reporting. Accordingly, 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: