$ATLX
Atlas Lithium Corp

2013 Q2 Form 10-Q Financial Statement

#000114420413044568 Filed on August 12, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q4 2012 Q2
Revenue $145.6K $0.00 $0.00
YoY Change
Cost Of Revenue $82.92K $0.00
YoY Change
Gross Profit $62.70K $0.00
YoY Change
Gross Profit Margin 43.06%
Selling, General & Admin $1.190M $0.00 $0.00
YoY Change
% of Gross Profit 1897.99%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00
YoY Change
% of Gross Profit 0.0%
Operating Expenses $1.226M $0.00 $0.00
YoY Change
Operating Profit -$153.5K $0.00
YoY Change
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00
YoY Change
Pretax Income -$1.163M $0.00 $0.00
YoY Change
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.192M $0.00 -$1.340K
YoY Change 88823.73%
Net Earnings / Revenue -818.28%
Basic Earnings Per Share
Diluted Earnings Per Share -$7.933M $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 70.96M shares 3.880M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q2 2012 Q4 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $360.0K $0.00 $20.00K
YoY Change 1700.0%
Cash & Equivalents $360.0K $0.00 $20.00K
Short-Term Investments
Other Short-Term Assets $0.00
YoY Change
Inventory $512.4K $0.00
Prepaid Expenses
Receivables $5.763K $0.00
Other Receivables $0.00
Total Short-Term Assets $947.6K $863.2K $20.00K
YoY Change 4637.76%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00
YoY Change
Goodwill
YoY Change
Intangibles $149.0K $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets $950.0K
YoY Change
Total Long-Term Assets $1.586M $800.0K $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $947.6K $863.2K $20.00K
Total Long-Term Assets $1.586M $800.0K $0.00
Total Assets $2.534M $1.663M $20.00K
YoY Change 12570.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $0.00 $70.00K $0.00
YoY Change
Accrued Expenses $86.88K $67.36K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $10.00K $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $90.00K $10.00K $0.00
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $90.00K $10.00K $0.00
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $87.81K $67.46K $0.00
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$37.33M -$35.96M
YoY Change
Common Stock $70.96K $69.96K $3.000K
YoY Change 2265.43%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.446M $1.596M $20.00K
YoY Change
Total Liabilities & Shareholders Equity $2.534M $1.663M $20.00K
YoY Change 12570.09%

Cashflow Statement

Concept 2013 Q2 2012 Q4 2012 Q2
OPERATING ACTIVITIES
Net Income -$1.192M $0.00 -$1.340K
YoY Change 88823.73%
Depreciation, Depletion And Amortization $0.00
YoY Change
Cash From Operating Activities -$240.0K $0.00 $0.00
YoY Change
INVESTING ACTIVITIES
Capital Expenditures -$50.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$150.0K -$800.0K
YoY Change
Cash From Investing Activities -$190.0K -$800.0K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 110.0K 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -240.0K 0.000 0.000
Cash From Investing Activities -190.0K -800.0K
Cash From Financing Activities 110.0K 0.000
Net Change In Cash -320.0K -800.0K 0.000
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$240.0K $0.00 $0.00
Capital Expenditures -$50.00K
Free Cash Flow -$190.0K
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Registrant Name
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Brazil Minerals, Inc.
dei Entity Central Index Key
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us-gaap Basis Of Accounting
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<div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <u>Accounting Basis</u></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221; accounting).&#160;&#160;The Company had initially adopted February 28/29 as its fiscal year end, but after the change in control changed the fiscal year end date to December 31, in order to align its year-end with that of its majority shareholder.</div> </div>
CY2013Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
86878 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <u>Use of Estimates</u></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> 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 the financial statements and the reported amount of revenues and expenses during the reporting period.&#160;&#160;Actual results could differ from those estimates.</div> </div>
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
15000000 shares
CY2012Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
67362 USD
CY2013Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 USD
CY2013Q2 us-gaap Development Stage Enterprise Deficit Accumulated During Development Stage
DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage
538178 USD
us-gaap Advertising Expense
AdvertisingExpense
0 USD
us-gaap Advertising Expense
AdvertisingExpense
0 USD
CY2013Q2 us-gaap Due To Other Related Parties Current And Noncurrent
DueToOtherRelatedPartiesCurrentAndNoncurrent
180 USD
CY2012Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
13250 USD
CY2013Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
5850 USD
CY2013Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
15000 USD
CY2012Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
0 USD
CY2013Q2 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
0 USD
CY2012Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
50000 USD
CY2013Q2 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
32684 USD
CY2012Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
4112 USD
CY2013Q2 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
38609 USD
CY2013Q2 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
0 USD
CY2012Q4 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
0 USD
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-462250 USD
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-2057 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2600000 shares
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
1009400 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.8155 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0071 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2012Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
99999000 shares
CY2012Q1 us-gaap Common Stock Value
CommonStockValue
3000 USD
CY2012Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
23999760 USD
CY2012Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
14400 USD
CY2012Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
5333280 USD
CY2012Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4800 USD
CY2012 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
2000047 shares
CY2012 bmix Number Of Warrants Issued
NumberOfWarrantsIssued
200000 pure
CY2013Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000 shares
CY2013Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
59433 USD
CY2013Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Marketable Securities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsMarketableSecurities
452696 USD
CY2013Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
442778 USD
CY2013Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
163918 USD
CY2013Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
29429 USD
CY2013Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
1089396 USD
CY2013Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
1547000 USD
bmix Operating Loss Carryforwards Expiration Period
OperatingLossCarryforwardsExpirationPeriod
2032
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.34 pure
CY2012 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.34 pure
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
462250 USD
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
2057 USD
us-gaap Income Loss From Subsidiaries Tax Expense Benefit
IncomeLossFromSubsidiariesTaxExpenseBenefit
3321 USD
us-gaap Income Loss From Subsidiaries Tax Expense Benefit
IncomeLossFromSubsidiariesTaxExpenseBenefit
0 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3321 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2013Q2 us-gaap Deferred Tax Assets Gross Current
DeferredTaxAssetsGrossCurrent
526000 USD
CY2012Q4 us-gaap Deferred Tax Assets Gross Current
DeferredTaxAssetsGrossCurrent
1602 USD
CY2012Q2 us-gaap Common Stock Value
CommonStockValue
3000 USD
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
0 USD
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
0 USD
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
0 USD
us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
0 USD
us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-6052 USD
us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-26520 USD
us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
-0.00
us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
-0.00
us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
-0.00

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