Company: JUPGF
Filing Date: 2025-08-11
Form Type: DRS/A
Source: 0001641172-25-022982
Chunk: 183

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-08-11
Form: DRS/A
Chunk 183
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 is transferred to customers and the company has an unconditional right to receive payment for it.

Initial recognition is made at fair value, which usually
corresponds to the price of the transaction (invoice), and subsequently assessed to determine the recoverability of the amounts in every
balance sheet date.

Inventories

The Company values its inventories in accordance with ASC 330 - Inventory,
which requires that inventories be valued at the lower of cost or market. The cost of inventories is determined using the weighted average
cost method.

Property and Equipment

Property and equipment are stated at cost. Major improvements and betterments are capitalized. Maintenance and repairs are expensed as incurred. Depreciation is computed using the straight-line method over the estimated useful life. At the time of retirement or other disposition of property and equipment, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the statements of operations as other gain or loss, net.

| F-9 |

The diamond and gold processing plant, facilities and other machinery are depreciated over an estimated useful life of ten years; vehicles are depreciated over an estimated life of five years; and computer and other office equipment over an estimated useful life of three years.

Mineral Properties

Costs of exploration, carrying and retaining unproven mineral lease properties are expensed as incurred. Mineral property acquisition costs, including licenses and lease payments, are capitalized. Impairment losses are recorded on mineral properties used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets’ carrying amount. The Company did not recognize any impairment losses related to mineral properties held during the years ended December 31, 2024, 2023 and 2022.

For intangible assets purchased in a business combination, the estimated fair values of the assets received are used to establish their recorded values. For intangible assets acquired in a non-monetary exchange, the estimated fair values of the assets transferred (or the estimated fair values of the assets received, if more clearly evident) are used to establish their recorded values, unless the values of neither the assets received nor the assets transferred are determinable within reasonable limits, in which case the assets received are measured based on the carrying values of the assets transferred. Valuation techniques consistent with the market approach, income approach and/or cost approach are used to measure fair value. These rights are held in perpetuity provided the Company remains in compliance with various government regulations and industry requirements