2024 Q2 Form 10-Q Financial Statement

#000149315224019927 Filed on May 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $182.8K $186.7K $0.00
YoY Change
Cost Of Revenue $91.79K $102.1K $0.00
YoY Change
Gross Profit $91.00K $84.64K $0.00
YoY Change
Gross Profit Margin 49.79% 45.33%
Selling, General & Admin $9.538M $10.09M $14.56M
YoY Change 96.25% 192.52% 590.04%
% of Gross Profit 10480.98% 11923.44%
Research & Development $2.444M $3.171M $4.920M
YoY Change -47.56% 207.86%
% of Gross Profit 2685.24% 3746.48%
Depreciation & Amortization $33.11K $31.91K $42.88K
YoY Change 708.94% 694.77% 328.8%
% of Gross Profit 36.38% 37.7%
Operating Expenses $12.08M $13.27M $17.14M
YoY Change 26.85% 196.17% 620.26%
Operating Profit -$11.99M -$13.18M -$17.14M
YoY Change 25.89% 194.28% 620.26%
Interest Expense -$390.9K $202.7K $155.0K
YoY Change
% of Operating Profit
Other Income/Expense, Net -$400.9K -$2.375K -$46.10K
YoY Change 215.95% -83.05% -71.19%
Pretax Income -$12.39M -$13.18M -$17.03M
YoY Change 31.86% 195.26% 570.6%
Income Tax $6.220K
% Of Pretax Income
Net Earnings -$11.61M -$12.96M -$17.02M
YoY Change 27.26% 226.87% 673.7%
Net Earnings / Revenue -6354.31% -6943.21%
Basic Earnings Per Share -$0.85 -$1.29
Diluted Earnings Per Share -$0.85 -$1.29 -$1.23
COMMON SHARES
Basic Shares Outstanding 14.80M shares 12.77M shares 10.73M shares
Diluted Shares Outstanding 13.72M shares 10.07M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $32.27M $17.53M $29.55M
YoY Change 59.98% 251.29% 10453.55%
Cash & Equivalents $32.27M $17.53M $29.55M
Short-Term Investments
Other Short-Term Assets $149.2K $144.7K $113.9K
YoY Change 113.07% 189.34% 127.82%
Inventory $150.7K $21.89K
Prepaid Expenses
Receivables
Other Receivables $11.00K $50.82K
Total Short-Term Assets $32.58M $17.71M $29.71M
YoY Change 60.87% 250.22% 8502.62%
LONG-TERM ASSETS
Property, Plant & Equipment $27.45M $12.08M $6.408M
YoY Change 7401.01% 5407.95% 2845.41%
Goodwill
YoY Change
Intangibles $408.9K $7.499M $7.116M
YoY Change -94.44% 7.72% 43.14%
Long-Term Investments $0.00 $0.00
YoY Change -100.0% -100.0%
Other Assets $46.95K
YoY Change
Total Long-Term Assets $28.28M $19.99M $13.97M
YoY Change 259.06% 172.71% 161.63%
TOTAL ASSETS
Total Short-Term Assets $32.58M $17.71M $29.71M
Total Long-Term Assets $28.28M $19.99M $13.97M
Total Assets $60.86M $37.70M $43.68M
YoY Change 116.37% 204.35% 668.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.968M $1.992M $1.954M
YoY Change -0.13% 216.21% 376.62%
Accrued Expenses $109.0K $125.0K $115.0K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $81.92K $231.1K $67.02K
YoY Change
Total Short-Term Liabilities $5.275M $6.427M $5.670M
YoY Change 46.07% 161.37% 102.64%
LONG-TERM LIABILITIES
Long-Term Debt $9.756M $9.730M $9.704M
YoY Change
Other Long-Term Liabilities $22.89K $27.31K $58.58K
YoY Change -56.47% -64.21% -25.82%
Total Long-Term Liabilities $22.89K $27.31K $58.58K
YoY Change -56.47% -64.21% -25.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.275M $6.427M $5.670M
Total Long-Term Liabilities $22.89K $27.31K $58.58K
Total Liabilities $33.90M $35.10M $34.37M
YoY Change 43.27% 1284.4% 1094.62%
SHAREHOLDERS EQUITY
Retained Earnings -$126.2M -$114.6M -$101.7M
YoY Change 73.7% 80.37% 70.62%
Common Stock $14.83K $12.77K $12.76K
YoY Change 47.76% 89.49% 149.74%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $26.37M $2.205M $8.891M
YoY Change
Total Liabilities & Shareholders Equity $60.86M $37.70M $43.68M
YoY Change 116.37% 204.35% 668.49%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income -$11.61M -$12.96M -$17.02M
YoY Change 27.26% 226.87% 673.7%
Depreciation, Depletion And Amortization $33.11K $31.91K $42.88K
YoY Change 708.94% 694.77% 328.8%
Cash From Operating Activities -$7.654M -$6.103M -$8.344M
YoY Change -149.58% 66.6% 583.96%
INVESTING ACTIVITIES
Capital Expenditures $8.278M $5.673M $5.560M
YoY Change 491.28% 343.17% 1885.89%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$8.278M -$6.056M -$5.560M
YoY Change 491.28% 374.58% 1885.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 30.14M 20.39M
YoY Change 2591.1% 1456.65%
NET CHANGE
Cash From Operating Activities -7.654M -$6.103M -8.344M
Cash From Investing Activities -8.278M -$6.056M -5.560M
Cash From Financing Activities 30.14M 20.39M
Net Change In Cash 14.21M -$12.02M 6.487M
YoY Change -6.28% -355.36% -3514.4%
FREE CASH FLOW
Cash From Operating Activities -$7.654M -$6.103M -$8.344M
Capital Expenditures $8.278M $5.673M $5.560M
Free Cash Flow -$15.93M -$11.78M -$13.90M
YoY Change -213.48% 138.21% 826.99%

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CY2023Q1 us-gaap Other Noncash Expense
OtherNoncashExpense
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CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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CY2024Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
21889 usd
CY2024Q1 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-39825 usd
CY2023Q1 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
538 usd
CY2024Q1 us-gaap Increase Decrease In Customer Advances And Deposits
IncreaseDecreaseInCustomerAdvancesAndDeposits
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CY2023Q1 us-gaap Increase Decrease In Customer Advances And Deposits
IncreaseDecreaseInCustomerAdvancesAndDeposits
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CY2024Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
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CY2023Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
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CY2024Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
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CY2023Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
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CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2024Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2024Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
382964 usd
CY2023Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1270182 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
9489335 usd
CY2023Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
75000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
9564335 usd
CY2024Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
138337 usd
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
82290 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-12020462 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
4707226 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
29549927 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
280525 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17529465 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4987751 usd
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84A_eus-gaap--UseOfEstimates_zV1ZYgPHbIn9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline"><span id="xdx_864_zpbEIu7SiOQg">Use of Estimates</span></span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 contingencies at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results may differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
12080306 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12080306 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6407735 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6407735 usd
CY2024Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
7498608 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
7115644 usd
CY2023Q1 us-gaap Area Of Land
AreaOfLand
45.77
CY2024Q1 us-gaap Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
4701027 usd
CY2023Q4 us-gaap Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
3406864 usd
CY2024Q1 ATLX Mineral Rights Payable Current And Noncurrent
MineralRightsPayableCurrentAndNoncurrent
49060 usd
CY2023Q4 ATLX Mineral Rights Payable Current And Noncurrent
MineralRightsPayableCurrentAndNoncurrent
1080783 usd
CY2024Q1 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
4750086 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
4487647 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.065 pure
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
451405 usd
CY2024Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
6949 usd
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
24713 usd
CY2024Q1 ATLX Operating Lease Foreign Exchange
OperatingLeaseForeignExchange
5816 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
439457 usd
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
125028 usd
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
314429 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
150687000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
148104000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
128007000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
58172000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
484969000 usd
CY2023Q4 us-gaap Convertible Debt
ConvertibleDebt
9770724 usd
CY2024Q1 us-gaap Convertible Debt
ConvertibleDebt
9960651 usd
CY2024Q1 us-gaap Convertible Debt Current
ConvertibleDebtCurrent
231048 usd
CY2023Q4 us-gaap Convertible Debt Current
ConvertibleDebtCurrent
67024 usd
CY2024Q1 us-gaap Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
9729603 usd
CY2023Q4 us-gaap Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
9703700 usd
CY2024Q1 us-gaap Interest And Debt Expense
InterestAndDebtExpense
164024 usd
CY2024Q1 us-gaap Accretion Expense
AccretionExpense
25903 usd
CY2024Q1 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
1320743 usd
CY2023Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
1000060 usd
CY2023 us-gaap Debt Instrument Convertible Beneficial Conversion Feature
DebtInstrumentConvertibleBeneficialConversionFeature
486304 usd
CY2024Q1 us-gaap Debt Instrument Convertible Beneficial Conversion Feature
DebtInstrumentConvertibleBeneficialConversionFeature
298815 usd
CY2024Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-187489 usd
CY2024Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
27306 usd
CY2023Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
58579 usd
CY2024Q1 us-gaap Excess Stock Shares Authorized
ExcessStockSharesAuthorized
200000000 shares
CY2023Q4 us-gaap Excess Stock Shares Authorized
ExcessStockSharesAuthorized
200000000 shares
CY2023Q1 us-gaap Area Of Land
AreaOfLand
45.77
CY2023Q1 us-gaap Payments For Purchase Of Other Assets1
PaymentsForPurchaseOfOtherAssets1
1150000 usd
CY2023Q1 us-gaap Asset Retirement Obligation Cash Paid To Settle
AssetRetirementObligationCashPaidToSettle
400000 usd
CY2023Q1 us-gaap Restricted Investments
RestrictedInvestments
750000 usd
CY2024Q1 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
6000 shares
CY2023Q1 ATLX Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Illiquidity Discount
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedIlliquidityDiscount
0.75 pure
CY2023Q1 us-gaap Proceeds From Other Equity
ProceedsFromOtherEquity
147848 usd
CY2024Q1 ATLX Issuscne Of Other Stock Incentives
IssuscneOfOtherStockIncentives
127695 shares
CY2024Q1 ATLX Derivative Instrument Liability
DerivativeInstrumentLiability
1021929 usd
CY2023Q4 ATLX Issuscne Of Other Stock Incentives
IssuscneOfOtherStockIncentives
127635 shares
CY2023Q4 ATLX Derivative Instrument Liability
DerivativeInstrumentLiability
513757 usd
CY2024Q1 us-gaap Contractual Obligation
ContractualObligation
5281365 usd
CY2024Q1 ATLX Contractual Obligation Due In Less Twelve Months
ContractualObligationDueInLessTwelveMonths
5281365 usd
CY2024Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
1992130 usd
CY2024Q1 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
756995 usd
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1954145 usd
CY2023 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
1462405 usd
CY2024Q1 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p id="xdx_80C_eus-gaap--LossContingencyDisclosures_zU4pI1mms3Gg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 8 – <span id="xdx_821_zVNw8PRSPqtb">RISKS AND UNCERTAINTIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span style="text-decoration: underline">Currency Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company operates primarily in Brazil which exposes it to currency risks. The Company’s business activities may generate intercompany receivables or payables that are in a currency other than the functional currency of the company. Changes in exchange rates from the time the activity occurs to the time payments are made may result in the Company receiving either more or less in local currency than the local currency equivalent at the time of the original activity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s consolidated financial statements are denominated in U.S. dollars. Accordingly, changes in exchange rates between the applicable foreign currency and the U.S. dollar affect the translation of each foreign subsidiary’s financial results into U.S. dollars for purposes of reporting in the consolidated financial statements. The Company’s foreign subsidiaries translate their financial results from the local currency into U.S. dollars in the following manner: (a) income statement accounts are translated at average exchange rates for the period; (b) balance sheet asset and liability accounts are translated at end of period exchange rates; and (c) equity accounts are translated at historical exchange rates. Translation in this manner affects the shareholders’ equity account referred to as the foreign currency translation adjustment account. This account exists only in the foreign subsidiaries’ U.S. dollar balance sheets and is necessary to keep the foreign subsidiaries’ balance sheets in agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ATLAS LITHIUM CORPORATION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q1 ATLX Gross Proceeds Before Deducting Offering Expenses
GrossProceedsBeforeDeductingOfferingExpenses
30000000.0 usd
CY2024Q1 us-gaap Intercompany Agreements Description
IntercompanyAgreementsDescription
(i) the spot quantity of fifteen thousand (15,000) dry metric tons of Atlas Brazil’s product, and, subject to the fulfillment of certain conditions precedent, (ii) up to sixty thousand (60,000) dry metric tons of Atlas Brazil’s product for each year, up to a total of three hundred thousand (300,000) dry metric tons.

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