Company: JUPGF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001493152-25-008689
Chunk: 31

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 31
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18,887                 
  in income taxes arising from its sales revenues, compared to nil in 2023;                              
  Receivables                                                                                            
  from blocks and slabs sales amounted to $62,066 on December 31, 2024, compared to nil in               
  2023;                                                                                                  
  Development                                                                                            
  of our quartzite operation and other activities increased general volume of our transactions.          
  Compared to 2023, 2024 faced an increase of approximately $35,000 in payables net of expenses          
  of the period;                                                                                         
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  Our                                                                                                    

Net
cash used in investing activities was $153,718 for the year ended December 31, 2024, compared to $nil for the year ended December 31,
2023. Cash used in 2024 is predominantly explained by the acquisition of an excavator to be used in our quartzite operation, amounting
to $133,424.

Net
cash provided by financing activities was $1,312,416 for the year ended December 31, 2024, compared to $930,145 for the year ended December
31, 2023. The $382,271 (41.1%) increase derives from:

  In                                                                                            
  2024, issuance and sales of 3,009,162 shares of our common stock generated a $1,595,750       
  inflow, compared to issuance and sales of 506,480 shares generating a $291,600 inflow in      
  2023;                                                                                         
  We received $638,545 of intercompany loans from its affiliate Mineração Apollo Ltda in 2023,  
  compared to the repayment of $283,334 in intercompany loans in 2024.                          
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5. B
Liquidity and Capital Resources

As
of December 31, 2024, we had total current assets of $663,422 and total current liabilities of $1,227,371 for a current ratio of 0.54
to 1.00 and negative working capital of $563,949 (important to highlight that current liabilities include an amount of $872,942 payable
to Atlas Lithium, a related party). As of December 31, 2023 and 2022, we had total current assets of $96