Atlas Lithium Corp Files 2023 10-K
Ticker: ATLX · Form: 10-K · Filed: Mar 27, 2024 · CIK: 1540684
Sentiment: neutral
Topics: Atlas Lithium, 10-K Filing, Financial Report, Mining, Lithium
TL;DR
<b>Atlas Lithium Corp. has filed its 2023 10-K report detailing its financial performance and corporate history.</b>
AI Summary
Atlas Lithium Corp (ATLX) filed a Annual Report (10-K) with the SEC on March 27, 2024. Atlas Lithium Corp. filed its 2023 10-K report on March 27, 2024. The company was formerly known as Brazil Minerals, Inc. and Flux Technologies, Corp. Incorporated in Nevada, the company's fiscal year ends on December 31. Atlas Lithium Corp. operates in the Mining, Quarrying of Nonmetallic Minerals sector. The filing includes detailed financial data for the fiscal years ending December 31, 2023, 2022, and 2021.
Why It Matters
For investors and stakeholders tracking Atlas Lithium Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Atlas Lithium Corp.'s financial health and operational status for the fiscal year 2023, crucial for investors assessing the company's current standing and future prospects. Understanding the company's historical name changes and incorporation details offers context into its evolution and corporate structure, which can be relevant for due diligence and long-term investment analysis.
Risk Assessment
Risk Level: — Atlas Lithium Corp shows moderate risk based on this filing. The company operates in the mining sector, which is subject to significant regulatory, environmental, and market risks, as indicated by its SIC code and the nature of its business.
Analyst Insight
Investors should review the detailed financial statements and risk factors within the 10-K to assess the company's operational viability and potential for growth in the lithium market.
Key Numbers
- 2023-12-31 — Fiscal Year End (Reported fiscal year end date)
- 2024-03-27 — Filing Date (Date the 10-K was filed)
- 1400 — SIC Code (Standard Industrial Classification code)
Key Players & Entities
- Atlas Lithium Corp. (company) — Filer name
- Brazil Minerals, Inc. (company) — Former company name
- Flux Technologies, Corp. (company) — Former company name
- NV (location) — State of incorporation
- 1200 N FEDERAL HWY (address) — Business and mailing street address
- BOCA RATON (location) — Business and mailing city
- FL (location) — Business and mailing state
- 33432 (postal_code) — Business and mailing ZIP code
FAQ
When did Atlas Lithium Corp file this 10-K?
Atlas Lithium Corp filed this Annual Report (10-K) with the SEC on March 27, 2024.
What is a 10-K filing?
A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Atlas Lithium Corp (ATLX).
Where can I read the original 10-K filing from Atlas Lithium Corp?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Atlas Lithium Corp.
What are the key takeaways from Atlas Lithium Corp's 10-K?
Atlas Lithium Corp filed this 10-K on March 27, 2024. Key takeaways: Atlas Lithium Corp. filed its 2023 10-K report on March 27, 2024.. The company was formerly known as Brazil Minerals, Inc. and Flux Technologies, Corp.. Incorporated in Nevada, the company's fiscal year ends on December 31..
Is Atlas Lithium Corp a risky investment based on this filing?
Based on this 10-K, Atlas Lithium Corp presents a moderate-risk profile. The company operates in the mining sector, which is subject to significant regulatory, environmental, and market risks, as indicated by its SIC code and the nature of its business.
What should investors do after reading Atlas Lithium Corp's 10-K?
Investors should review the detailed financial statements and risk factors within the 10-K to assess the company's operational viability and potential for growth in the lithium market. The overall sentiment from this filing is neutral.
Risk Factors
- Regulatory Compliance [medium — regulatory]: The company must comply with various mining, environmental, and safety regulations in the jurisdictions where it operates.
- Commodity Price Volatility [high — market]: The market prices for lithium and other minerals are subject to significant fluctuations, impacting revenue and profitability.
- Exploration and Development Risks [high — operational]: The success of mining operations depends on successful exploration, development, and extraction of mineral resources, which involve inherent uncertainties.
Key Dates
- 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
- 2024-03-27: 10-K Filing Date — Date Atlas Lithium Corp. submitted its annual report.
Glossary
- 10-K
- An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This filing provides the official annual financial and operational overview of Atlas Lithium Corp.)
- SIC Code
- Standard Industrial Classification code used to classify industries and industrial activities. (Indicates Atlas Lithium Corp. operates in the 'Mining, Quarrying of Nonmetallic Minerals' sector.)
Filing Stats: 4,530 words · 18 min read · ~15 pages · Grade level 14.7 · Accepted 2024-03-27 17:01:16
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value ATLX The Nasdaq Capital M
- $21.42 — iliates, based upon the market price of $21.42 per share on June 30, 2023, was approxi
Filing Documents
- form10-k.htm (10-K) — 2092KB
- ex4-1.htm (EX-4.1) — 41KB
- ex10-6.htm (EX-10.6) — 70KB
- ex21.htm (EX-21) — 9KB
- ex23-1.htm (EX-23.1) — 1KB
- ex31-1.htm (EX-31.1) — 15KB
- ex31-2.htm (EX-31.2) — 15KB
- ex32-1.htm (EX-32.1) — 6KB
- ex32-2.htm (EX-32.2) — 5KB
- ex97.htm (EX-97.1) — 27KB
- form10-k_001.jpg (GRAPHIC) — 101KB
- form10-k_014.jpg (GRAPHIC) — 100KB
- form10-k_015.jpg (GRAPHIC) — 440KB
- form10-k_016.jpg (GRAPHIC) — 20KB
- form10-k_017.jpg (GRAPHIC) — 442KB
- form10-k_018.jpg (GRAPHIC) — 39KB
- form10-k_019.jpg (GRAPHIC) — 15KB
- form10-k_020.jpg (GRAPHIC) — 61KB
- form10-k_021.jpg (GRAPHIC) — 37KB
- form10-k_022.jpg (GRAPHIC) — 44KB
- form10-k_023.jpg (GRAPHIC) — 43KB
- form10-k_024.jpg (GRAPHIC) — 47KB
- form10-k_025.jpg (GRAPHIC) — 45KB
- ex23-1_001.jpg (GRAPHIC) — 67KB
- 0001493152-24-011539.txt ( ) — 12843KB
- atlx-20231231.xsd (EX-101.SCH) — 46KB
- atlx-20231231_cal.xml (EX-101.CAL) — 55KB
- atlx-20231231_def.xml (EX-101.DEF) — 299KB
- atlx-20231231_lab.xml (EX-101.LAB) — 465KB
- atlx-20231231_pre.xml (EX-101.PRE) — 410KB
- form10-k_htm.xml (XML) — 1380KB
Business
Business 4 Item 1A.
Risk Factors
Risk Factors 11 Item 1B. Unresolved Staff Comments 23 Item 1C. Cybersecurity 23 Item 2.
Properties
Properties 24 Item 3.
Legal Proceedings
Legal Proceedings 25 Item 4. Mine Safety Disclosures 25 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 26 Item 6. [Reserved] 27 Item 7.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 7A.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 46 Item 8.
Financial Statements and Supplementary Data
Financial Statements and Supplementary Data 46 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 46 Item 9A.
Controls and Procedures
Controls and Procedures 46 Item 9B. Other Information 47 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 47 PART III Item 10. Directors, Executive Officers and Corporate Governance 48 Item 11.
Executive Compensation
Executive Compensation 53 Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 58 Item 13. Certain Relationships and Related Transactions, and Director Independence 60 Item 14. Principal Accounting Fees and Services 61 PART IV Item 15. Exhibits, Financial Statement Schedules 62 Item 16. Form 10-K Summary 64
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS F-1 2 Table of Contents MARKET INFORMATION This Annual Report contains certain industry and market data that were obtained from third-party sources, such as industry surveys and industry publications, including, but not limited to, publications by Benchmark Mineral Intelligence, Bloomberg LP, and the U.S. Department of the Interior. This Annual Report also contains other industry and market data, including market sizing estimates, growth and other projections and information regarding our competitive position, prepared by our management on the basis of such industry sources and our management's knowledge of and experience in the industry and markets in which we operate (including management's estimates and assumptions relating to such industry and markets based on that knowledge). Our management has developed its knowledge of such industry and markets through its experience and participation in these markets. In addition, industry surveys and industry publications generally state that the information they contain has been obtained from sources believed to be reliable but that the accuracy and completeness of such information is not guaranteed and that any projections they contain are based on a number of significant assumptions. Forecasts, projections and other forward-looking information obtained from these sources involve risks and uncertainties and are subject to change based on various factors, including those discussed in the section "Forward-Looking FORWARD LOOKING STATEMENTS This Annual Report contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than sta