Atlas Lithium Corp

Listed Company

ATLXCIK 0001540684NasdaqNon-AcceleratedSmaller ReportingMining & Quarrying Of Nonmetallic Minerals (No Fuels)NevadaFY ends Dec 31

Period

FY 2025

Revenue

$92.5K

Net Income

$-28.11M

Total Assets

$87.70M

Equity

$51.95M

Shares Out

27.14M

Op. Cash Flow

$-22.17M

Business

Atlas Lithium Corporation is a mineral exploration and development company focused on advancing hard‑rock lithium projects and other battery‑related minerals. It conducts exploration and development activities and intends to mine and process lithium‑bearing pegmatite ore to produce spodumene (lithium) concentrate, while also holding exploration properties in nickel, copper, rare earths, graphite and titanium and a minority interest in Atlas Critical Minerals. Its primary business units include the Minas Gerais Lithium Project (notably the Neves Project), other exploration portfolios and related‑party investments. The company operates principally in the Eastern Brazilian Pegmatite Province in Minas Gerais, Brazil, leveraging local infrastructure and commercial ports to supply global battery, electric vehicle and energy storage markets.

Summary from filing dated 2025-03-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Gross revenues	121,388	748,654	—	—	—
Sales deductions	−28,897	−81,523	—	—	—
Net revenue	92,491	667,131	—	6,765	10,232
Cost of revenue	−151,922	−401,437	—	63,548	245,810
Gross profit	−59,431	265,694	—	−56,783	−235,578
General and administrative expenses	22	16	10	3	1
Stock-based compensation	9	25	16	2	1
Exploration	—	3	17	—	—
Other operating expenses	—	138,411	90,821	—	—
Total operating expenses	32	44	42	5	3
Loss from operations	−32	−44	−42	−6	−4
Other expense (income)	67,875	1	194,175	155,812	—
Fair value adjustments, net (income)	−59,803	−419,993	174,608	—	—
Finance costs (revenue)	242,089	−382,323	−485,499	—	—
Total other expense	250,161	536,054	−116,716	155,812	509,373
Loss before income taxes	−32	−44	−42	−6	−4
Income taxes	—	18,923	—	—	—
Net loss	−32	−44	−42	−6	−4
Loss attributable to non-controlling interest	−4	−2	−1	−1	−1
Net loss attributable to Atlas Lithium Corporation stockholders	−28	−42	−41	−5	−3
Net loss per share attributable to Atlas Lithium Corporation common stockholders basic	−1.54	−2.91	−4.37	−1	−0.75
Net loss per share attributable to Atlas Lithium Corporation common stockholders diluted	−1.54	−2.91	−4.37	−1	—
Basic	18	15	9	5	4
Diluted	18	15	9	5	—
Foreign currency translation adjustment	668,268	−41,161	−132,193	−277,659	56,815
Comprehensive loss	−31	−44	−42	−6	−4
Comprehensive loss attributable to noncontrolling interests	−4	−2	−1	−1	−1
Comprehensive loss attributable to Atlas Lithium Corporation stockholders	−28	−42	−41	−5	−3

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	36	16	30	280,525	—
Trade receivable	28,539	47,682	—	91	1,401
Inventories	505,307	492,812	—	—	—
Taxes recoverable	1	29,431	50,824	17,705	16,507
Derivative assets	219,556	—	—	—	—
Prepaid and other current assets	146,620	134,983	113,905	47,093	—
Total current assets	38	16	30	345,414	57,930
Taxes recoverable	673,545	2	—	—	—
Property and equipment, net	48	39	13	217,550	53,827
Intangible assets, net	309,258	399,773	45,777	5	1
Right of use assets - operating leases, net	623,104	499,605	335,634	—	—
Other assets	255,208	152,781	—	—	—
Total assets	88	58	44	6	2
Accounts payable and accrued expenses	4	5	5	3	988,238
Derivative liabilities	21,579	462,638	1	—	—
Convertible Debt	10	81,918	67,024	—	—
Operating lease liabilities	286,876	134,300	127,482	—	—
Other current liabilities	8,828	8,084	41,596	—	—
Total current liabilities	15	6	6	3	998,405
Convertible Debt	—	10	10	—	—
Operating lease liabilities	331,425	312,918	231,278	—	—
Deferred consideration from royalties sold	20	20	20	—	—
Other noncurrent liabilities	27,240	33,962	58,579	78,964	108,926
Total liabilities	35	36	36	3	1
Series A preferred stock, $0.001 par value. 1 share authorized; 1 share issued and outstanding as of December 31, 2025 and December 31, 2024	1	1	1	—	—
Common stock, $0.001 par value. 200,000,000 and 200,000,000 shares authorized as of December 31, 2025 and December 31, 2024, respectively and 26,968,501 and 16,014,742 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	26,969	16,015	12,764	5,111	4,144
Additional paid-in capital	223	166	110	62	55
Accumulated other comprehensive loss	−141,940	−179,990	−138,829	−981,040	−712,810
Cumulative Adjustment of the Valuation of Fin. Instruments	224,905	−278,820	—	—	—
Accumulated deficit	−172	−144	−103	−60	−55
Total Atlas Lithium Co. stockholders equity	52	21	7	1	−1
Non-controlling interest	578,765	753,459	427,302	2	2
Total stockholders equity	53	22	8	1	456,866
Total liabilities and stockholders equity	88	58	44	6	2

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation and services	9	25	16	2	2
Depreciation and amortization	119,121	43,865	24,923	13,806	—
Lease expenses	182,812	154,758	—	—	—
Interest expense	650,003	814,646	82,395	—	—
Derivative liabilities	—	2,847	—	—	—
Fair value adjustments	−54,453	−555,780	174,608	—	—
Write off property and equipment	—	1	—	—	—
Other non-cash expenses	−6,727	−75,418	−258,965	—	—
Gain/loss on FOREX transactions	290,164	—	—	—	—
Unwinding of non-current liabilities	136,777	—	—	—	—
Inventories and trade receivable	26,594	−427,184	—	—	—
Taxes recoverable	221,637	−2	−50,602	−1,198	—
Deposits and advances	−9,118	−176,301	22,743	—	—
Accounts payable	−981,630	1	564,716	−568,038	720,717
Other noncurrent liabilities	−95,266	−190,012	−46,070	−29,962	−4,122
Net cash used in operating activities	−22	−19	−6	−1	−1
Acquisition of capital assets	−6	−22	−8	−177,529	—
Capitalized Exploration costs	−3	−4	—	—	—
Increase in intangible assets	—	−405,907	−34,278	−3	−954,506
Net cash used in investing activities	−9	−27	−8	−3	−961,362
Net proceeds from sale of common stock	50	32	33	5	1
Net proceeds from sale of common stock of subsidiaries	3	1	—	—	—
Leases payments	−216,906	−150,953	—	—	—
Cash used in payment of debt	−650,003	−636,823	—	—	—
Net cash provided by financing activities	52	32	43	5	2
Effect of exchange rates on cash and cash equivalents	681	−14,843	45,584	82,279	—
Net increase (decrease) in cash and cash equivalents	20	−14	29	257,749	−230,822

Filings

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