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Atlas Lithium Corp

For the period ended Mar 31, 2024. Filed May 15, 2024.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 15, 2024

ATLX$1.64-2.4%Stored close · as of Nov 6, 2026

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

☒QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the quarterly period endedMarch 31,2024

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the transition period from ____________ to ____________

Commission File Number001-41552

(Exact name of registrant as specified in its charter)

Nevada39-2078861
(State or other jurisdiction of(IRS Employer
incorporation or organization)Identification No.)

Rua Buenos Aires,10 – 14th Floor

Belo Horizonte, Minas Gerais, Brazil,30.315-570

(Address of principal executive offices, including zip code)

(833) 661-7900

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.001 par valueATLXThe Nasdaq Capital Market

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark whether the issuer (1) 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 ☒ No ☐

Indicate by check mark whether the registrant has submitted every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

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

Large accelerated filer☐Accelerated filer☐
Non-accelerated filer☒Smaller reporting company☒
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No☒

As of May 14, 2024, there were outstanding 14,802,025 shares of the registrant’s common stock.

DOCUMENTS INCORPORATED BY REFERENCE: None.

TABLE OF CONTENTS

Page
Cautionary Note Regarding Forward-Looking Statements
PART I - FINANCIAL INFORMATION
Item 1. · Financial Statements · F-1
Condensed Consolidated Balance Sheets as of March 31, 2024 (Unaudited) and December 31, 2023 · F-1
Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Months Ended March 31, 2023 and 2022 (Unaudited) · F-2
Condensed Consolidated Statements of Changes in Stockholders’ Equity for the Three Months Ended March 31, 2023 and 2022 (Unaudited) · F-3
Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2023 and 2022 (Unaudited) · F-4
Notes to the Condensed Consolidated Financial Statements (Unaudited) · F-5
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations.3
Item 3.Quantitative and Qualitative Disclosures About Market Risk16
Item 4.Controls and Procedures.16
PART II - OTHER INFORMATION17
Item 1.LEGAL PROCEEDINGS17
Item 1A.RISK FACTORS17
Item 2.UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS17
Item 3.DEFAULTS UPON SENIOR SECURITIES17
Item 4.MINE SAFETY DISCLOSURES17
Item 5.OTHER INFORMATION17
Item 6.Exhibits18
Signatures19
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.