Company: JUPGF
Filing Date: 2025-09-15
Form Type: F-1
Source: 0001493152-25-013292
Chunk: 203

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-09-15
Form: F-1
Chunk 203
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 1,051,746 |

For the years ended December 31, 2023 and 2022, the Company recorded amortization expense of niland $ 1,630, respectively.

In 2023 and 2022, the Company proceeded to an impairment analysis on its property and equipment and intangibles and concluded that, other than mineral rights, there was no expectation of future economic benefits being generated from the assets use or disposal, affecting the main condition for an asset to be recognized. As a result, an impairment loss of $ 1,474in 2023 ($ 6,101in 2022) was recognized in profit and loss of the period as Other expenses.

Related Party Receivables/Payables

Related party payables relate to loans granted to (received from) entities belonging to the same economic group of the Company to enable Group entities to execute their operating activities.

As of December 31, 2023, there are $ 674,461of related party outstanding balances, represented by amounts owed from Jupiter Gold Corporation.

As of December 31, 2022, there are $ 881,558of related party outstanding balances, mainly represented by amounts owed to Atlas Litio Brasil Ltda.

| F-28 |

NOTE 3 – STOCKHOLDERS’ EQUITY

Issued and Authorized

As of December 31, 2023, The Company had 2,122,175 shares of its common stock and one share of its preferred stock issued and outstanding. As of December 31, 2023, The Company had 49,999,000 shares of common stock authorized.

Common Stock

During the year ended December 31, 2023, The Company issued and sold 525,750shares of common stock for proceeds of $ 3,154,500, paid through the conversion of an intercompany loan from Atlas Lithium Corporation into share capital.

Preferred A Stock

In 2016,Company issued to Marc Fogassa, its Founder, Chief Executive Officer, and Chairman, one share of 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