Company: JUPGF
Filing Date: 2025-09-25
Form Type: F-1/A
Source: 0001493152-25-014979
Chunk: 49

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-09-25
Form: F-1/A
Chunk 49
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 the six-month    
 period ended on June 30, 2025 compared to the same period in 2024;                                                                      |
| ● | The                                                                                                                                     
 increase explained above was off-set by a $299,327 reduction in the need of working working capital arising from inventories: reduction 
 of $137,879 on inventories in the six-month period ended on June 30, 2024 compared to an increase on inventories of $161,448 in the     
 six-month period ended on June 30, 2024.                                                                                                |

Net cash provided by financing activities was $1,275,753 for the six-month period ended on June 30, 2025, compared to $327,174 for the six-month period ended on June 30, 2024. The $948,579 (189.9%) increase derives mainly from the issuance and sale of 189,356 shares of our common stock generating a $1,411,901 inflow in the six-month period ended June 30, 2025, compared to the issuance and sales of 47,889 shares generating a $444,500 inflow in the six-month period ended June 30, 2024 (shares of common stock issued were adjusted to reflect the impacts of the Reverse Stock Split);

Year Ended December 31, 2024 compared to the Year ended December 31, 2023

Our quartzite operation is our sole property currently
generating revenues. After a trial mining period in the second half of 2023, we commenced ongoing operations at our quartzite quarry
in 2024. Our gross margin of $265,694 was generated from the sales of 551 m of unprocessed blocks of quartzite and 905
mof processed slabs produced by our quartzite operation. By comparison, there was no gross margin generation in the
year ended December 31, 2023. Although we are currently generating revenues from the sale of blocks of quartzite and processed
slabs, our production of quartzite blocks and slabs paused in April 2025 while we undergo modifications to our operations to address
certain identified issues. The primary issue to be resolved is the adoption of an updated drainage plan for the quarry. We have retained an engineering firm to prepare an updated drainage plan for a cost of approximately $2,320, and expect to resume operationsby year end 2025. Implementing the drainage plan is expected to cost between $25,000 and $50,000.