UNITED
STATES


SECURITIES
AND EXCHANGE COMMISSION


Washington,
D.C. 20549





FORM
10-Q/A
 Amendment
#1


x
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE


SECURITIES EXCHANGE ACT OF
1934





For
the quarterly period ended September 30, 2010





OR





 ̈
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE


SECURITIES
EXCHANGE ACT OF 1934





For The
Transition Period __________ To __________





ATLAS CAPITAL HOLDINGS,
INC.




Nevada
              333-144645
              20-5549779(State
      or Jurisdiction of
              Commission
      File Number
              (I.R.S.
      EmployerIncorporation
      or organization
              
              Identification
      No.)


(Name of
small business issuer in its charter)




2234
N. Federal Highway, Suite 330


Boca
Raton, Florida 33431


561-488-7624





Indicate
by check mark whether the Registrant (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the Registrant was required
to file such reports), and (2) has been subject to such filing requirements for
the past 90 days.   Yes x No  ̈





Indicate
by check mark whether the Registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See
definition of “large accelerated filer,” “accelerated filer” and “smaller
reporting company” in Rule 12b-2 of the Exchange Act.


Large
accelerated filer  ̈
Accelerated file  ̈
Non-accelerated filer o Smaller reporting
company x





Indicate by check mark whether the Registrant is a shell
company (as defined in Rule a12b-2 of the ExchangeYes xNo o





Number of
shares of Atlas Capital Holdings, Inc. common stock, $0.001 as of September 30,
2010: 17,434,000 exclusive of treasury shares.





EXPLANATORY
NOTE


We are
filing this Amendment to our Quarterly Report on Form 10-Q for the quarter ended
September 30, 2010 (the “Original Report”) in order to amend the title page of
the filing, which erroneously stated that the company is not a
shell.
  Other
than the correction to shell status, this Amendment does not affect any other
items in our Original Report. We are also filing as exhibits to this Amendment
the certifications pursuant to section 302 and section 906 of the Sarbanes-Oxley
Act of 2002, which are currently dated.
  Except as
otherwise expressly stated for the item amended in this Amendment, this
Amendment continues to speak as of the date of the Original Report and we have
not updated the disclosure contained herein to reflect events that have occurred
since the filing of the Original Report. Accordingly, this Amendment should be
read in conjunction with our Original Report and our other filings made with the
SEC subsequent to the filing of the Original Report.





TABLE
OF CONTENTS
  PageNumberPART
      1:
                  FINANCIAL
      INFORMATIONItem
      1.
                  Financial
      StatementsBalance
      sheets at September 30, 2010 (unaudited) and June 30, 2010
                  3Statements
      of Operations for the three month periods ended September 30, 2010 and
      2009 and September 13, 2006 (Inception) to September 30, 2010
      (unaudited)
                  4Statement
      of Cash Flows for the three months ended September 30, 2010 and 2009 and
      September 13, 2010 (Inception) to September 30, 2010
      (unaudited)
                  6Notes
      to the Financial Statements
                  7Item
      2.
                  Managements's
      Discussion and Analysis of Financial Condition and Results of
      Opeations
                  19Item
      3.
                  Quantitative
      and Qualitative Disclosures About Market Risk
                  22Item
      4.
                  Controls
      and Procedures
                  22Part
      II:
                  OTHER
      INFORMATIONItem
      1.
                  Legal
      Proceedings
                  22Item
      2.
                  Unregistered
      Sales of Equity Securities and Use of Proceeds
                  22Item
      3.
                  Defaults
      Upon Senior Securities
                  23Item
      4.
                  Submission
      of Matters to a Vote of Security Holders
                  23Item
      5.
                  Other
      Information
                  23Item
      6.
                  Exhibits
      and Reports on Form 8-K
                  23SIGNATURES
                  24
 2




PART 1 - FINANCIAL INFORMATION





ITEM
1.  FINANCIAL STATEMENTS





ATLAS
CAPITAL HOLDINGS, INC.


(A
Development Stage Company)




BALANCE
SHEETS





September
      30,
                
                
                June
      30,2010
                
                
                2010(Unaudited)ASSETSCurrent
      assets:Cash
                
                $
                -
                
                
                $
                -Total
      current assets
                
                
                -
                
                
                
                -Total
      Assets
                
                
                -
                
                
                
                -LIABILITIES
      AND STOCKHOLDERS' EQUITYCurrent
      liabilities:Accrued
      liabilities
                
                $
                -
                
                
                $
                -Customer
      deposits
                
                
                -
                
                
                
                -Loan
      from shareholder
                
                
                800
                
                
                
                800Total
      current liabilities
                
                
                800
                
                
                
                800Stockholders'
      equity:Common
      stock, $.0001 par value, authorized
      100,000,000 shares;  17,434,000 issued and outstanding as
      of September 30, 2010 and June 30, 2010
                
                
                1,743
                
                
                
                1,743Additional
      paid-in capital
                
                
                183,525
                
                
                
                183,525Accumulated
      deficit during development stage
                
                
                (186,068
                )
                
                
                (186,068
                )Total
      stockholders' equity
                
                
                (800
                )
                
                
                (800
                )Total
      liabilities and stockholders' equity
                
                $
                -
                
                
                $
                -





The
accompanying notes are an integral part of the financial
statements.


3


ATLAS CAPTIAL HOLDINGS, INC.


(A
Development Stage Company)





STATEMENTS
OF OPERATIONS


(Unaudited)





For the PeriodThree Months Ended
                    
                    
                    September 13, 2006September30,
                    
                    
                    (Inception) to2010
                    
                    
                    2009
                    
                    
                    September30,2010Revenue
                    
                    $
                    -
                    
                    
                    $
                    3,000
                    
                    
                    $
                    36,000Expenses:General
      and administrative
                    
                    
                    -
                    
                    
                    
                    2,903
                    
                    
                    
                    222,068Total
      expenses
                    
                    
                    -
                    
                    
                    
                    2,903
                    
                    
                    
                    222,068Net
      income (loss)
                    
                    $
                    -
                    
                    
                    $
                    97
                    
                    
                    $
                    (186,068
                    )Weighted
      average number of common shares outstanding, basic and fully
      diluted
                    
                    
                    17,434,000
                    
                    
                    
                    10,034,000Net
      loss per weighted share basic and fully diluted
                    
                    $
                    -
                    
                    
                    $
                    -





The
accompanying notes are an integral part of the financial
statements.


4


ATLAS
CAPITAL HOLDINGS, INC.


(A
Development Stage Company)





STATEMENT
OF CHANGES IN STOCKHOLDERS' EQUITY


(Unaudited)





AccumulatedAdditional
                        
                        
                        Deficit During
                        
                        
                        TotalCommonStock
                        
                        
                        Paid-in
                        
                        
                        Developmental
                        
                        
                        Stockholders'Shares
                        
                        
                        Amount
                        
                        
                        Capital
                        
                        
                        Stage
                        
                        
                        EquityBalance,
      June 30, 2008
                        
                        
                        10,034,000
                        
                        
                        $
                        1,003
                        
                        
                        $
                        176,347
                        
                        
                        $
                        (178,516
                        )
                        
                        $
                        (1,166
                        )Net
      loss for year ended June 30, 2009
                        
                        
                        -
                        
                        
                        
                        -
                        
                        
                        
                        -
                        
                        
                        
                        (6,163
                        )
                        
                        $
                        (6,163
                        )Balance,
      June 30, 2009
                        
                        
                        10,034,000
                        
                        
                        
                        1,003
                        
                        
                        
                        176,347
                        
                        
                        
                        (184,679
                        )
                        
                        
                        (7,329
                        )Shareholder
      contribution
                        
                        
                        
                        
                        
                        
                        
                        
                        
                        
                        5,604
                        
                        
                        
                        
                        
                        
                        
                        5,604Shareholder
      loan converted to paid-in capital
                        
                        
                        
                        
                        
                        
                        
                        
                        
                        
                        2,314
                        
                        
                        
                        
                        
                        
                        
                        2,314Shares
      issued in connection with merger with Atlas Capital Partners,
      LLC
                        
                        
                        7,400,000
                        
                        
                        
                        740
                        
                        
                        
                        (740
                        )
                        
                        
                        
                        
                        
                        
                        -Net
      loss for the year ended June 30, 2010
                        
                        
                        -
                        
                        
                        
                        -
                        
                        
                        
                        -
                        
                        
                        
                        (1,389
                        )
                        
                        
                        (1,389
                        )Balance,
      June 30, 2010
                        
                        
                        17,434,000
                        
                        
                        
                        1,743
                        
                        
                        
                        183,525
                        
                        
                        
                        (186,068
                        )
                        
                        
                        (800
                        )Net
      loss for quarter ended September 30, 2010
                        
                        
                        
                        
                        
                        
                        
                        
                        
                        
                        
                        
                        
                        
                        -
                        
                        
                        
                        -Balance,
      September 30, 2010
                        
                        
                        17,434,000
                        
                        
                        $
                        1,743
                        
                        
                        $
                        183,525
                        
                        
                        $
                        (186,068
                        )
                        
                        $
                        (800
                        )





The
accompanying notes are an integral part of the financial
statements.


5


ATLAS CAPITAL HOLDINGS, INC.


(A
Development Stage Company)


STATEMENTS
OF CASH FLOWS


(Unaudited)





For the PeriodSeptember 30, 2006Three Months Ended
                  
                  
                  (Inception) toSeptember 30,
                  
                  
                  September 30,2010
                  
                  
                  2009
                  
                  
                  2010Cash
      flows from operating activities:Net
      loss
                  
                  $
                  -
                  
                  
                  $
                  97
                  
                  
                  $
                  (186,068
                  )Adjustments
      to reconcile net loss to net cash: used for operating
      activities:Stock
      based compensation
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  170,650Increase
      (decrease) in customer deposits
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -Increase(decrease)
      in accrued liabilities
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -Net
      cash used in operating activities
                  
                  
                  -
                  
                  
                  
                  97
                  
                  
                  
                  (15,418
                  )Cash
      flows from investing activities:Net
      cash used in investing activities
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -Cash
      flows from financing activities:Issuance
      of common stock
                  
                  
                  
                  
                  
                  
                  -
                  
                  
                  
                  6,700Proceeds
      from shareholder loan
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  800Contribution
      to paid in capital
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  7,918Net
      cash provided by financing activities
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  15,418Net
      increase (decrease) in cash
                  
                  
                  -
                  
                  
                  
                  97
                  
                  
                  
                  -Cash,
      beginning of period
                  
                  
                  -
                  
                  
                  
                  485
                  
                  
                  
                  -Cash,
      end of period
                  
                  $
                  -
                  
                  
                  $
                  582
                  
                  
                  $
                  -Supplemental
      disclosures of non-cash investing and financing
activities:Issuance
      of 7,400,000 shares of common stock on basis of two for one shares
      held by shareholders of Atlas Capital Partners, LLC ("Atlas")
      in connection with a merger of the Company and Atlas
                  
                  $
                  -
                  
                  
                  
                  
                  
                  
                  $
                  740Shareholder
      loan converted to paid-in capital
                  
                  $
                  -
                  
                  
                  $
                  -
                  
                  
                  $
                  2,314Issuance
      of 3,400,000 shares of common stock for consulting
services
                  
                  $
                  -
                  
                  
                  $
                  -
                  
                  
                  $
                  170,000Issuance
      of 6,500,000 shares of common stock for compensation to founding
      shareholder
                  
                  $
                  -
                  
                  
                  $
                  -
                  
                  
                  $
                  650





The
accompanying notes are an integral part of the financial
statements.


6




ATLAS
CAPITAL HOLDINGS, INC.


(A
DEVELOPMENTAL STAGE COMPANY)


NOTES
TO THE FINANCIAL STATEMENTS




Note
1 – Organization and summary of significant accounting principles





Organization





Atlas
Capital Holdings, Inc. (“Atlas” or the “Company’) was organized September 13,
2006 (Date of Inception) under the laws of the State of Nevada. The Company has
not commenced significant operations and, in accordance with Financial
Accounting Standard Board (“FASB”) Accounting Standards Codification (“ASC”)
Topic 915, “Development Stage Entity,” the Company is considered a development
stage company.





Atlas
assists small to medium-sized enterprises (“SMEs”) with overcoming their
impediments to growth, by providing SMEs high caliber business and financial
expertise as well as the capital to begin their path to growth.





The
Company operated under the name of Micro Mammoth Solutions, Inc. from date of
Inception through January 25, 2010.





Accounting
period





The
Company has adopted an annual accounting period of July through
June.





Use of
estimates




The
preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenue and expenses during the reporting
period.  Actual results could differ significantly from those
estimates.




Cash and cash
equivalents




For the
purpose of the statements of cash flows, all highly liquid investments with a
maturity of three months or less are considered to be cash
equivalents.


7


ATLAS
CAPITAL HOLDINGS, INC.


(A
DEVELOPMENTAL STAGE COMPANY)


NOTES
TO THE FINANCIAL STATEMENTS




Note
1 – Organization and summary of significant accounting principles
(continued)





Revenue
recognition




Revenue is recognized on an accrual
basis after services have been performed under contract terms, the service price
to the client is fixed or determinable, and collectability is reasonably
assured.


Furniture and
equipment




Furniture
and equipment are stated at cost less accumulated depreciation.  It is
the policy of the Company to capitalize items greater than or equal to $1,000.
Depreciation is computed using the straight-line method over the expected useful
lives of the assets.  Upon retirement or other disposition of
depreciable assets, the cost and related accumulated depreciation are eliminated
from the accounts, and any gain or loss on disposal is credited to or charged
against income.





Fair value of financial
instruments




The fair
values of the Company’s assets and liabilities that qualify as financial
instruments under FASB ASC Topic 825, “Financial Instruments,” approximate their
carrying amounts presented in the accompanying balance sheet at September 30,
2010.





Loss per
share




The
Company complies with the accounting and disclosure requirements of FASB ASC
260, “Earnings Per Share.”  Basic loss per common share is computed by
dividing net loss by the weighted average number of common shares outstanding
during the period.  Diluted loss per common share incorporates the
dilutive effect of common stock equivalents on an average basis during the
period.





Income
Taxes





The
Company accounts for income taxes in accordance with FASB ASC Topic 740 “Income
Taxes,” which requires accounting for deferred income taxes under the asset and
liability method.  Deferred income tax asset and liabilities are
computed for difference between the financial statement and tax bases of assets
and liabilities that will result in taxable or deductible amounts in the future
based on the enacted tax laws and rates applicable to the periods in which the
differences are expected to affect taxable income.  Valuation
allowances are established, when necessary, to reduce the deferred income tax
assets to the amount expected to be realized.


8


ATLAS
CAPITAL HOLDINGS, INC.


(A
DEVELOPMENTAL STAGE COMPANY)


NOTES
TO THE FINANCIAL STATEMENTS




Note
1 – Organization and summary of significant accounting principles
(continued)





Income Taxes
(continued)





In
accordance with GAAP, the Company is required to determine whether a tax
position of the Company is more likely than not to be sustained upon examination
by the applicable taxing authority, including resolution of any related appeals
or litigation processes, based on the technical merits of the position. The
Company files an income tax return in the U.S. federal jurisdiction, and may
file income tax returns in various U.S. state and local jurisdictions.  The
tax benefit to be recognized is measured as the largest amount of benefit that
is greater than fifty percent likely of being realized upon ultimate
settlement.  De-recognition of a tax benefit previously recognized
could result in the Company recording a tax liability that would reduce net
assets. This policy also provides guidance on thresholds, measurement,
de-recognition, classification, interest and penalties, accounting in interim
periods, disclosure, and transition that is intended to provide better financial
statement comparability among different entities.  It must be applied
to all existing tax positions upon initial adoption and the cumulative effect,
if any, is to be reported as an adjustment to stockholder’s equity as of July 1,
2009.





Income
Taxes





Based on
its analysis, the Company has determined that the adoption of this policy did
not have a material impact on the Company’s financial statements upon adoption.
However, management’s conclusions regarding this policy may be subject to review
and adjustment at a later date based on factors including, but not limited to,
on-going analyses of and changes to tax laws, regulations and interpretations
thereof.





Interest
and Penalty Recognition on Unrecognized Tax Benefits


The
Company recognizes interest accrued related to unrecognized tax benefits in
interest expense and penalties in operating expenses.





Comprehensive
Income





The
Company complies with FASB ASC Topic 220, “Comprehensive Income,” which
establishes rules for the reporting and display of comprehensive income (loss)
and its components.  FASB ASC Topic 220 requires the Company’ to
reflect as a separate component of stockholders’ equity items of comprehensive
income.


9


ATLAS
CAPITAL HOLDINGS, INC.


(A
DEVELOPMENTAL STAGE COMPANY)


NOTES
TO THE FINANCIAL STATEMENTS




Note
1 – Organization and summary of significant accounting principles
(continued)





Stock-Based
Compensation




The
Company complies with FASB ASC Topic 718 “Compensation – Stock Compensation,”
which establishes standards for the accounting for transactions in which an
entity exchanges its equity instruments for goods or services.  It
also addresses transactions in which an entity incurs liabilities in exchange
for goods or services that are based on the fair value of the entity’s equity
instruments or that may be settled by the issuance of those equity instruments.
FASB ASC Topic 718 focuses primarily on accounting for transactions in which an
entity obtains employee services in share-based payment
transactions.  FASB ASC Topic 718 requires an entity to measure the
cost of employee services received in exchange for an award of equity
instruments based on the grant-date fair value of the award (with limited
exceptions).  That cost will be recognized over the period during
which an employee is required to provide service in exchange for the award the
requisite service period (usually the vesting period).  No
compensation costs are recognized for equity instruments for which employees do
not render the requisite service.  The grant-date fair value of
employee share options and similar instruments will be estimated using
option-pricing models adjusted for the unique characteristics of those
instruments (unless observable market prices for the same or similar instruments
are available).  If an equity award is modified after the grant date,
incremental compensation cost will be recognized in an amount equal to the
excess of the fair value of the modified award over the fair value of the
original award immediately before the modification.





Valuation of Investments in
Securities at Fair Value—Definition and Hierarchy




FASB ASC
Topic 820 “Fair Value Measurements and Disclosures” provides a framework for
measuring fair value under generally accepted accounting principles in the
United States and requires expanded disclosures regarding fair value
measurements.  ASC 820 defines fair value as the exchange price that
would be received for an asset or paid to transfer a liability (i.e., the “exit
price”) in an orderly transaction between market participants at the measurement
date.




In
determining fair value, the Company uses various valuation
approaches.  In accordance with GAAP, a fair value hierarchy for
inputs is used in measuring fair value that maximizes the use of observable
inputs and minimizes the use of unobservable inputs by requiring that the most
observable inputs be used when available.  Observable inputs are those
that market participants would use in pricing the asset or liability based on
market data obtained from sources independent of the
Company.  Unobservable inputs reflect the Company’s assumptions about
the inputs market participants
would use in pricing the asset or liability developed based on the best
information available in the circumstances.  FASB ASC Topic 820
establishes a three-tiered fair value hierarchy that prioritizes inputs to
valuation techniques used in fair value calculations, as
follows:


10


ATLAS
CAPITAL HOLDINGS, INC.


(A
DEVELOPMENTAL STAGE COMPANY)


NOTES
TO THE FINANCIAL STATEMENTS




Note
1 – Organization and summary of significant accounting principles
(continued)





Valuation of Investments in
Securities at Fair Value—Definition and Hierarchy
(continued)




Level 1 - Valuations based on
unadjusted quoted prices in active markets for identical assets or liabilities
that the Company has the ability to access.  Valuation adjustments and
block discounts are not applied to Level 1 securities.  Since
valuations are based on quoted prices that are readily and regularly available
in an active market, valuation of these securities does not entail a
significant degree of judgment.




Level 2 - Valuations based on
quoted prices in markets that are not active or for which all significant inputs
are observable, either directly or indirectly.




Level 3 -Valuations based on
inputs that are unobservable and significant to the overall fair value
measurement.




The
availability of valuation techniques and observable inputs can vary from
security to security and is affected by a wide variety of factors including, the
type of security, whether the security is new and not yet established in the
marketplace, and other characteristics particular to the
transaction.  To the extent that valuation is based on models or
inputs that are less observable or unobservable in the market, the determination
of fair value requires more judgment.  Those estimated values do not
necessarily represent the amounts that may be ultimately realized due to the
occurrence of future circumstances that cannot be reasonably
determined.




Because
of the inherent uncertainty of valuation, those estimated values may be
materially higher or lower than the values that would have been used had a ready
market for the securities existed. Accordingly, the degree of judgment exercised
by the Company in determining fair value is greatest for securities categorized
in Level 3. In certain cases, the inputs used to measure fair value may fall
into different levels of the fair value hierarchy. In such cases, for
disclosure purposes, the level in the fair value hierarchy within which the fair
value measurement in its entirety falls is determined based on the lowest level
input that is significant to the fair value measurement.




11


ATLAS
CAPITAL HOLDINGS, INC.


(A
DEVELOPMENTAL STAGE COMPANY)


NOTES
TO THE FINANCIAL STATEMENTS





Note
1 – Organization and summary of significant accounting principles
(continued)





Valuation of Investments in
Securities at Fair Value—Definition and Hierarchy
(continued)





Fair
value is a market-based measure considered from the perspective of a market
participant rather than an entity-specific measure.  Therefore, even
when market assumptions are not readily available, the





Valuation
Techniques





The
Company values investments in securities that are freely tradable and are listed
on a national securities exchange or reported on the NASDAQ national market at
their last sales price as of the last business day of the year.





Government
Bonds





The fair
value of sovereign government bonds is generally based on quoted prices in
active markets. When quoted prices are not available, fair value is determined
based on a valuation model that uses inputs that include interest-rate yield
curves, cross-currency-basis index spreads, and country credit spreads similar
to the bond in terms of issuer, maturity and seniority.





Certificate
of Deposits





The fair
values of the bank certificate of deposits are based on the face value of the
certificate of deposits





Recently Adopted Accounting
Pronouncements





In
June 2009, the FASB issued the FASB Accounting Standards Codification (the
“Codification”)and
a new Hierarchy of Generally Accepted Accounting Principles which establishes
only two levels of GAAP: authoritative and nonauthoritative. The Codification is
now the source of authoritative U.S. GAAP recognized by the FASB to be applied
by nongovernmental entities in the preparation of financial statements in
conformity with GAAP, except for rules and interpretive releases of the SEC,
which are additional sources of authoritative GAAP for SEC registrants. All
other nongrandfathered, non-SEC accounting literature not included in the
Codification will become nonauthoritative. The Codification is effective for
financial statements for interim or annual reporting periods ending after
September 15, 2009.


12




ATLAS
CAPITAL HOLDINGS, INC.


(A
DEVELOPMENTAL STAGE COMPANY)


NOTES
TO THE FINANCIAL STATEMENTS





Note
1 – Organization and summary of significant accounting principles
(continued)





Recently Adopted Accounting
Pronouncements (continued)





The
Company adopted the new guidelines and numbering system prescribed by the
Codification when referring to GAAP on October 1, 2009. The application of the
Codification did not have an impact on the Company’s financial statements;
however, all references to authoritative accounting literature will now be
references in accordance with the Codification.





On
October 1, 2009, The Company adopted FASB ASC Topic 805 (ASC 805), “Business
Combinations,” which generally requires an acquirer to recognize the
identifiable assets acquired, liabilities assumed, contingent purchase
consideration and any noncontrolling interest in the acquiree at fair value on
the date of acquisition. It also requires an acquirer to recognize as expense
most transaction and restructuring costs as incurred, rather than include such
items in the cost of the acquired entity. For the Company, ASC 805 applies
prospectively to business combinations for which the acquisition date is on or
after October 1, 2009. The adoption of ASC 805 did not have a material impact on
the Company’s financial statements.





On
October 1, 2009, the Company adopted FASB ASC Topic 820-10 (ASC 820-10), “Fair
Value Measurements and Disclosures,” for nonfinancial assets
and liabilities that are not recognized or disclosed at fair value in the
financial statements on a recurring basis. The adoption of ASC 820-10 did not
have a material impact on the Company’s financial statements.





In August
2009, the FASB issued Accounting Standards Update 2009-05 (ASU 2009-05), “Fair
Value Measurements and Disclosures (Topic 820) – Measuring Liabilities at Fair
Value,” to amend FASB ASC Topic 820, “Fair Value Measurements and Disclosures,”
to provide guidance on the measurement of liabilities at fair value.  The
guidance provides clarification that in circumstances in which a quoted market
price in an active market for an identical liability is not available, an entity
is required to measure fair value using a valuation technique that uses the
quoted price of an identical liability when traded as an asset or, if
unavailable, quoted prices for similar liabilities or similar assets when traded
as assets.  If none of this information is available, an entity should use
a valuation technique in accordance with existing fair valuation
principles.  The Company adopted the guidance effective October 1, 2009,
and there was no material impact on the Company’s financial statements or
related footnotes.





In May
2009, the FASB issued authoritative guidance for subsequent events, now codified
as FASB ASC Topic 855, “Subsequent Events,” which establishes general standards
of accounting for and disclosures of events that occur after the balance sheet
date but before the financial statements are issued or are available to be
issued.  The guidance sets forth the circumstances under which an entity
should recognize events or transactions occurring after the balance sheet date
in its financial statements.  The guidance also requires the disclosure of
the date through which an entity has evaluated subsequent events and whether
this date represents the date the financial statements were issued or were
available to be issued.  The Company adopted this guidance effective July
1, 2009 with no significant impact on the Company’s financial statements or
related footnotes.


13


ATLAS
CAPITAL HOLDINGS, INC.


(A
DEVELOPMENTAL STAGE COMPANY)


NOTES
TO THE FINANCIAL STATEMENTS





Note
1 – Organization and summary of significant accounting principles
(continued)





Recently Adopted Accounting
Pronouncements (continued)





In April
2009, the FASBprovided additional
guidance for estimating fair value in accordance with FASB ASC Topic 820, “Fair
Value Measurements and Disclosures,” when the volume and level
of activity for the asset or liability have significantly decreased.  This
additional guidance re-emphasizes that regardless of market conditions the fair
value measurement is an exit price concept and clarifies and includes additional
factors to consider in determining whether there has been a significant decrease
in market activity for an asset or liability. This guidance also provides
additional clarification on estimating fair value when the market activity for
an asset or liability has declined significantly.  The scope of this
guidance does not include assets and liabilities measured under quoted prices in
active markets.  This guidance is applied prospectively to all fair value
measurements where appropriate and will be effective for interim and annual
periods ending after June 15, 2009.  The adoption of the provisions of this
guidance did not have any material impact on the Company’s financial
statements.





In April
2009, FASB issued FSP FAS 107-1 and APB 28-1, now codified in FASB ASC Topic
825-10-65, “Interim Disclosures about Fair Value of Financial Instruments,”
which amends U.S. GAAP to require entities to disclose the fair value of
financial instruments in all interim financial statements.  The additional
requirements of this guidance also require disclosure of the method(s) and
significant assumptions used to estimate the fair value of those financial
instruments.  Previously, these disclosures were required only in annual
financial statements.  The additional requirements of this guidance are
effective for interim reporting periods ending after June 15, 2009.  The
adoption of the additional requirements did not have any financial impact on the
Company’s financial statements.





In April,
2009, the FASB issued ASC Topic 320-10 (ASC 320-10), “Recognition and
Presentation of Other-Than-Temporary Impairments,” which provides additional
guidance designed to create greater clarity and consistency in accounting for
and presenting impairment losses on securities. ASC Topic 320-10 provides
greater clarity to investors about the credit and noncredit components of
impaired debt securities that are not expected to be sold. The measure of
impairment in comprehensive income remains fair value. This statement also
requires more timely disclosures and an increase in disclosures regarding
expected cash flows, credit losses, and an aging of securities with unrealized
losses. The adoption of the additional requirements did not have any financial
impact on the Company’s financial statements.


14


ATLAS
CAPITAL HOLDINGS, INC.


(A
DEVELOPMENTAL STAGE COMPANY)


NOTES
TO THE FINANCIAL STATEMENTS





Note
1 – Organization and summary of significant accounting principles
(continued)





Recently Adopted Accounting
Pronouncements (continued)





In
January 2010, the FASB issued Accounting Standards Update 2010-06,“Fair Value
Measurements and Disclosures (Topic 820) - Improving Disclosures about Fair
Value Measurements” (ASU 2010-06), to require new disclosures related to
transfers into and out of Levels 1 and 2 of the fair value hierarchy and
additional disclosure requirements related to Level 3 measurements.  The
guidance also clarifies existing fair value measurement disclosures about the
level of disaggregation and about inputs and valuation techniques used to
measure fair value.  The additional disclosure requirements are effective
for the first reporting period beginning after December 15, 2009, except for the
additional disclosure requirements related to Level 3 measurements, which are
effective for fiscal years beginning after December 15, 2010.  The adoption
of the additional requirements is not expected to have any financial impact on
the Company’s financial statements.





In
December 2009, the FASB issued Accounting Standards Update (ASU) 2009-17,
“Consolidations (FASB ASC Topic 810) - Improvements to Financial Reporting by
Enterprises Involved with Variable Interest Entities,” which codifies FASB
Statement No. 167, Amendments to FASB Interpretation No. 46(R). ASU 2009-17
represents a revision to former FASB Interpretation No. 46 (Revised December
2003), “Consolidation of Variable Interest Entities,” and changes how a
reporting entity determines when an entity that is insufficiently capitalized or
is not controlled through voting (or similar rights) should be consolidated. The
determination of whether a reporting entity is required to consolidate another
entity is based on, among other things, the other entity’s purpose and design
and the reporting entity’s ability to direct the activities of the other entity
that most significantly impact the other entity’s economic performance. 
ASU 2009-17 also requires a reporting entity to provide additional disclosures
about its involvement with variable interest entities and any significant
changes in risk exposure due to that involvement. A reporting entity will be
required to disclose how its involvement with a variable interest entity affects
the reporting entity’s financial statements.  ASU 2009-17 is effective at
the start of a reporting entity’s first fiscal year beginning after November 15,
2009, or the Company’s fiscal year beginning January 1, 2010. Early application
is not permitted. We have not yet determined the impact, if any, which of the
provisions of ASU 2009-15 may have on the Company’s financial
statements





Concentration of Credit
Risk





The
Company maintains its cash and cash equivalents in bank deposit accounts, which,
at times may exceed federally insured limits.  The Company has not
experienced any losses in such accounts.  Management believes the Company
is not exposed to any significant credit risk related to cash and cash
equivalents.


15


ATLAS
CAPITAL HOLDINGS, INC.


(A
DEVELOPMENTAL STAGE COMPANY)


NOTES
TO THE FINANCIAL STATEMENTS





Note
2 –Going Concern





The
accompanying financial statements have been prepared assuming that the Company
will continue as a going concern, which contemplates the recoverability of
assets and the satisfaction of liabilities in the normal course of
business.  As noted above, the Company is in the development stage and,
accordingly, has not yet generated significant revenues from operations. 
As a development stage Company, it has generated revenues totaling $36,000 and
incurred accumulated net losses of approximately $186,068 from September 13,
2006 (inception) through the period ended September 30, 2010.





The
ability of the Company to continue as a going concern is dependent upon its
ability to raise additional capital from the sale of common stock and,
ultimately, the achievement of significant operating revenues.  The
accompanying financial statements do not include any adjustments that might be
required should the Company be unable to recover the value of its assets or
satisfy its liabilities.





Note
3 –Income Taxes





At
September 30, 2010, the Company had approximately $186,000 of net operating
losses (“NOL”) carry-forwards for federal and state income purposes.  These
losses are available for future years and expire through 2030.  Utilization
of these losses may be severely or completely limited if the Company undergoes
an ownership change pursuant to Internal Revenue Code Section
382.


The
deferred tax asset is summarized as follows:





September
      30,2010Deferred
      tax asset:Net
      operating loss carryforwards
                    
                    $
                    71,000Deferred
      tax asset
                    
                    
                    71,000Less:
      Valuation Allowance
                    
                    
                    (71,000
                    )Net
      deferred tax asset
                    
                    $
                    -





A
reconciliation of income tax expense computed at the U.S. federal, state, and
local statutory rates and the Company’s effective tax rate is as
follows:


16


ATLAS
CAPITAL HOLDINGS, INC.


(A
DEVELOPMENTAL STAGE COMPANY)


NOTES
TO THE FINANCIAL STATEMENTS





Note
3 –Income Taxes (continued)





September
      30,2010Statutory
      federal income tax expense
                        
                        
                        (34
                        )%State
      and local income tax (net of federal benefits)
                        
                        
                        (4
                        )Valuation
      allowance
                        
                        
                        38-
                        %





The
Company has taken a 100% valuation allowance against the deferred tax asset
attributable to the NOL carryforward of $186,000 at September 30, 2010, due to
the uncertainty of realizing the future tax benefits.





Note
4 – Stockholders’ equity





In
September 2006, the Company issued 6,500,000 shares of its $0.001 par value
common stock as founder's shares.  In connection with the issuance of these
6,500,000 shares, the Company recorded compensation expense in the amount of
$650. The shares were deemed to have been issued pursuant to an exemption
provided by Section 4(2) of the Act, which exempts from registration
"transactions by an issuer not involving any public offering."





In
January 2007, the Company issued 3,400,000 shares of its $0.001 par value common
stock for consulting services.  In connection with the issuance of these
3,400,000 shares, the Company recorded compensation expense in the amount of
$170,000. The shares were deemed to have been issued pursuant to an exemption
provided by Section 4(2) of the Act, which exempts from registration
"transactions by an issuer not involving any public offering."





In June
2007, the Company issued 134,000 shares of its $0.001 par value common stock for
$6,700 cash. The shares were deemed to have been issued pursuant to an exemption
provided by Section 4(2) of the Act, which exempts from registration
"transactions by an issuer not involving any public offering."


17


ATLAS
CAPITAL HOLDINGS, INC.


(A
DEVELOPMENTAL STAGE COMPANY)


NOTES
TO THE FINANCIAL STATEMENTS




Note
4 – Stockholders’ equity (continued)





On
January 26, 2010, the Board of Directors of the Company approved a Stock
Purchase Agreement (the “Agreement”) between the Company and all of the
shareholders of Atlas Capital Partners, LLC (the “Shareholders”).  Pursuant
to the Agreement, the Company issued two shares of the Company’s common stock
for every one share of Atlas Capital Partners held by the Shareholders.  No
other consideration was paid for the shares held by the Shareholders.
Subsequently, the Company merged Atlas Capital Partners with and into the
Company and filed the appropriate merger documents with the required state
authorities. The Company issued 7,400,000 shares of its $0.001 par value common
stock in connection the merger.




There
have been no other issuances of common stock.





Note 5 – Warrants and
options





There are
no warrants or options outstanding to acquire any additional shares of common
stock.





Note
6 – Related party transactions





During
the three month period ended December 31, 2009, the Company’s former chief
executive officer converted a $2,314 loan due him for startup expenses by making
a contribution of this amount to additional paid-in capital.  Also, during
the same quarterly period, he made a $5,604 cash contribution to additional
paid-in capital.





During
the three month period ended March 31, 2010, the Company’s current chief
executive officer and principal shareholder advanced the company $800 for the
payment of operating expenses.





Note
7 – Commitments and contingent liabilities





Legal matters - The
Company is occasionally party to litigation or threat of litigation arising in
the normal course of business.  Management, after consultation with legal
counsel, does not believe that the resolution of any such matters will have a
material effect on the Company’s financial position or results of
operations.


18




Item
      2.
            Management
      ‘s Discussion and Analysis of Financial Condition and Results of
      Operations





Forward
Looking Statements





This
document contains “forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements other than statements
of historical fact are “forward-looking statements” for purposes of federal and
state securities laws, including, but not limited to, any projections of
earnings, revenue or other financial items; any statements of the plans,
strategies and objections of management for future operations; any statements
concerning proposed new services or developments; any statements regarding
future economic conditions or performance; any statements of belief; and any
statements of assumptions underlying any of the foregoing.





Forward-looking
statements may include the words “may,” “could,” “estimate,” “intend,”
“continue,” “believe,” “expect,”  “anticipate” or other similar words.
These forward-looking statements present our estimates and assumptions only as
of the date of this report. Except for our ongoing securities laws, we do not
intend, and undertake no obligation, to update any forward-looking
statement.





Although
we believe that the expectations reflected in any of our forward-looking
statements are reasonable, actual results could differ materially from those
projected or assumed in any of our forward-looking statements. Our future
financial condition and results of operations, as well as any forward-looking
statements, are subject to change and inherent risks and uncertainties. The
factors impacting these risks and uncertainties include, but are not limited
to:





·
            our
      ability to successfully compete in the professional services
      industry;





·
            difficulties
      developing a new line of business in the professional services
      industry;





·
            failure
      to identify, develop or profitably manage additional
      businesses;





·
            failure
      to obtain new customers or retain existing
  customers;





·
            inability
      to efficiently manage our
operations;





·
            inability
      to achieve future operating
results;





·
            inability
      to obtain capital for future
growth;





·
            loss
      of key executives; and





·
            general
      economic and business
conditions.


19


For a
detailed description of these and other factors that could cause actual results
to differ materially from those expressed in any forward-looking statement,
please see “Factors That May Affect Our Plan of Operation” in this document and
in our Annual Report on Form 10-K for the year ended June 30, 2010, available at
the SEC’s website at www.sec.gov.





Business
Overview





Atlas
Capital Holdings, Inc. is a development stage company, originally incorporated
in the State of Nevada on September 13, 2006 under the name Micro Mammoth
Solutions, Inc.  The Company was originally formed to serve as a mortgage
consulting firm and provide specialized consulting services to small and medium
sized mortgage brokers and mortgage lenders. That business plan was unsuccessful
and on December 9, 2009, the Board of Directors of the Company appointed Mr.
Christopher K. Davies as the Company’s new President and Chief Executive
Officer. Pursuant to the terms of Mr. Davies’ employment, the Company’s sole
Director and Chief Executive Officer, Mr. James Watson issued Mr. Davies 6.0
million shares of his common stock.  Mr. Davies succeeded Mr. James
Watson, who served as the Company’s President and Chief Executive Officer since
March, 2008.  Mr. Watson resigned his position contemporaneously with Mr.
Davies’ appointment.




Recent
Developments






On
January 26, 2010, the Board of Directors of the Company approved a Stock
Purchase Agreement (the “Agreement”) between the Company and all of the
shareholders of Atlas Capital Partners, LLC (the “Shareholders”).  Pursuant
to the Agreement, the Company issued two shares of the Company’s common stock
for every one share of Atlas Capital Partners held by the Shareholders.  No
other consideration was paid for the shares held by the Shareholders.
Subsequently, the Company merged Atlas Capital Partners with and into the
Company and filed the appropriate merger documents with the required state
authorities.





Pursuant
to the Company’s Plan of Merger the Company’s shareholders have approved an
amendment to the Company’s Articles of Incorporation changing the Company’s name
from Micro Mammoth Solutions, Inc. to Atlas Capital Holdings, Inc. This
amendment was effective upon filing with the Nevada Secretary of State’s office
on January 26, 2010.





Atlas Capital Holdings will continue to
provide mortgage consulting services as well as business and financial
consulting services as a result of the merger.




Satisfaction
of our cash obligations for the next twelve months




The
Company has been determined by our auditor to be an ongoing concern. The company
is not generating sufficient revenue to cover all of its expenses.




We plan
on satisfying our cash obligations over the next twelve months through
additional equity and/or third party financing and by generating revenues,
unless we successfully complete a merger or acquisition with a company
generating revenues from operations.


20


A critical component of our operating
plan impacting our continued existence is the ability to obtain additional
capital through additional equity and/or debt financing. In the event we cannot
obtain the necessary capital to pursue our strategic plan, we may have to cease
or significantly curtail our operations. This would materially impact our
ability to continue operations.






Liquidity
and Capital Resources






Over the
next twelve months we believe that existing capital and anticipated funds from
operations will not be sufficient to sustain our operations. As a result, we
will be required to seek additional capital to fund our operations through
additional equity or debt financing or credit facilities. No assurance can be
made that such financing would be available, and if available it may take either
the form of debt or equity. In either case, the financing could have a negative
impact on our financial condition and our Stockholders.




Going
Concern






The
consolidated financial statements included in this filing have been prepared in
conformity with generally accepted accounting principles that contemplate the
continuance of the Company as a going concern. The Company’s cash position is
inadequate to pay all of the costs associated with its intended business plan.
Management intends to use borrowings and security sales to mitigate the effects
of its cash position, however no assurance can be given that debt or equity
financing, if and when required will be available. The financial statements do
not include any adjustments relating to the recoverability and classification of
recorded assets and classification of liabilities that might be necessary should
the Company be unable to continue existence.





We do not
anticipate performing any significant product research and development under our
plan of operation until such time as we complete an acquisition. We do not
anticipate the purchase or sale of any plant or significant equipment; as such
items are not required by us at this time or anticipated to be needed in the
next twelve months. As of March 31, 2010 we had 1 full-time and one part-time
employee.




Results
of Operations




For the
three months ended September 30, 2010 and 2009, we generated revenues of $0 and
$3,000, respectively, and incurred a net loss of $0 and $97,
respectively.




For
complete financial information, please see the enclosed financial statements and
the accompanying notes.




Off-Balance
Sheet Arrangements






We do not have any off-balance sheet
arrangements that have or are reasonably likely to have a current or future
effect on our financial condition, changes in financial condition, revenues or
expenses, results of operations, liquidity, capital expenditures or capital
resources that is material to investors.


21


ITEM 3.Quantitative
And Qualitative Disclosures About Market Risk






As a
smaller reporting company, as defined by Rule 229,10(f)(1), the Company is not
required to provide Quantitative and Qualitative disclosures about market
risk.






ITEM
4 . Controls
and Procedures




Evaluation
of Disclosure Controls and Procedures Over Financial Reporting




Based on
evaluations on September 30, 2010, our principal executive and financial
officer, has concluded that the disclosure controls and procedures (as defined
in Rule 13a-15(e) and 15d-15(e) under the Securities Exchange Act) are effective
to ensure that information required to be disclosed by the company in reports
that we file or submit under the Securities Exchange Act is recorded, processed,
summarized and reported within the time periods specified in the rules and forms
of the SEC, and that material information relating to the Company is accumulated
and communicated to management, including our principal executive and financial
officer, as appropriate to allow timely decisions regarding required
disclosures.




Changes
in Internal Controls




During
the period covered by this quarterly report on Form 10-Q, the Company has not
made any changes to its internal control over financial reporting (as referred
to in Paragraph 4(b) of the Certifications of the Company’s principal executive
and financial officer included as exhibits to his report) that have materially
affected, or are reasonably likely to affect the Company’s internal control over
financial reporting.




PART
II - OTHER INFORMATION




ITEM
1.Legal
Proceedings






We are
not currently involved in any legal proceedings and we are not aware of any
pending or potential legal actions.






ITEM
1A.Risk
Factors






Smaller
reporting companies are not required to provide the information required by this
item.






ITEM
2.Unregistered
Sales of Equity Securities and Use of Proceeds






There
were no unregistered sales of equity securities for the period.


22


ITEM
3.Defaults
Upon Senior Securities




There
were no defaults upon senior securities during the period covered by this
report.




ITEM
4.Submission
of Matters To a Vote of Security Holders




There
were no matters submitted to a vote of security holders during the period
covered by this report.




ITEM
5.Other
Information




None




ITEM 6.  Exhibits




The
following exhibits are included with this quarterly filing. Those marked with an
asterisk and required to be filed hereunder





Incorporated by referenceExhibit
                                    
                                    Exhibit Description
                                    
                                    Filed
                                      herewith
                                    
                                    Form
                                    
                                    Period
                                      ending
                                    
                                    Exhibit
                                    
                                    Filing
                                      date3.1(i)
                                    
                                    Amended
      Articles of Incorporation filed as an Exhibit to the Company’s 10Q filed
      on May 24, 2010
                                    
                                    
                                    
                                    SB-2
                                    
                                    
                                    
                                    3.1(i)
                                    
                                    07/17/073.1(ii)
                                    
                                    Bylaws
      of Atlas Capital Holdings, Inc. filed as an Exhibit to the Company’s 10Q
      filed on May 24, 2010
                                    
                                    
                                    
                                    SB-2
                                    
                                    
                                    
                                    3.1(ii)
                                    
                                    07/17/0710.1
                                    
                                    Merger
      Agreement filed as an Exhibit to the Company’s 10Q filed on May 24,
      201031*
                                    
                                    Certification
      of James Watson pursuant to Section 302 of the Sarbanes-Oxley
      Act
                                    
                                    X32*
                                    
                                    Certification
      of James Watson pursuant to Section 906 of the Sarbanes-Oxley
      Act
                                    
                                    X


23


SIGNATURES




Pursuant
to the requirements of Section 13 or Section 15(d) of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned, thereuntoduly
authorized, on February
3, 2011.


ATLAS
      CAPITAL HOLDINGS, INC.REGISTRANT/s/  Christopher
      K. DaviesChristopher
      K. DaviesChief
      Executive Officer andPrincipal
      Accounting Officer


24