Atlas Lithium Files Q2 2024 10-Q

Ticker: ATLX · Form: 10-Q · Filed: Aug 9, 2024 · CIK: 1540684

Atlas Lithium CORP 10-Q Filing Summary
FieldDetail
CompanyAtlas Lithium CORP (ATLX)
Form Type10-Q
Filed DateAug 9, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$0.001
Sentimentneutral

Sentiment: neutral

Topics: 10-Q, mining, lithium

TL;DR

Atlas Lithium's Q2 2024 10-Q is in. Check financials for mining updates.

AI Summary

Atlas Lithium Corp. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as Brazil Minerals, Inc., is involved in mining nonmetallic minerals. Key financial data and operational details for the second quarter of 2024 are presented in this filing.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for Atlas Lithium, crucial for understanding the company's current standing and future prospects in the mining sector.

Risk Assessment

Risk Level: medium — As a mining company, Atlas Lithium faces inherent risks related to commodity prices, exploration success, and regulatory environments.

Key Numbers

Key Players & Entities

FAQ

What were the primary financial highlights for Atlas Lithium in Q2 2024?

The 10-Q filing for the period ending June 30, 2024, contains the detailed financial statements and management's discussion and analysis for Q2 2024, but specific dollar amounts for revenue, net income, or cash flow are not provided in the header information.

What is Atlas Lithium's main business activity?

Atlas Lithium Corp. is engaged in the mining, quarrying of nonmetallic minerals, as indicated by its Standard Industrial Classification code [1400].

When was Atlas Lithium previously known by another name?

Atlas Lithium Corp. was formerly known as Brazil Minerals, Inc., with a name change effective January 28, 2013.

What is the state of incorporation for Atlas Lithium Corp.?

Atlas Lithium Corp. is incorporated in Nevada (NV).

What is the fiscal year end for Atlas Lithium Corp.?

The fiscal year end for Atlas Lithium Corp. is December 31 (1231).

Filing Stats: 4,580 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-08-09 16:00:57

Key Financial Figures

Filing Documents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 4 Item 1.

Financial Statements

Financial Statements 4 Condensed Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 2023 4 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited) 6 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 (Unaudited) 8 Notes to the Condensed Consolidated Financial Statements (Unaudited) 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 26 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 30 Item 4.

Controls and Procedures

Controls and Procedures. 30

- OTHER INFORMATION

PART II - OTHER INFORMATION 31 Item 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 31 Item 1A.

RISK FACTORS

RISK FACTORS 31 Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 31 Item 3. DEFAULTS UPON SENIOR SECURITIES 31 Item 4. MINE SAFETY DISCLOSURES 31 Item 5. OTHER INFORMATION 31 Item 6. Exhibits 32

Signatures

Signatures 33 2 Table of Contents CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS This Quarterly 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 statements of historical fact contained in this Quarterly Report are forward-looking statements, including without limitation, statements regarding current expectations, as of the date of this Quarterly Report, our future results of operations and financial position, our ability to effectively process our minerals and achieve commercial grade at scale; risks and hazards inherent in the mining business (including risks inherent in exploring, developing, constructing and operating mining projects, environmental hazards, industrial accidents, weather or geologically related conditions); uncertainty about our ability to obtain required capital to execute our business plan; our ability to hire and retain required personnel; changes in the market prices of lithium and lithium products and demand for such products; the uncertainties inherent in exploratory, developmental and production activities, including risks relating to permitting, zoning and regulatory delays related to our projects; uncertainties inherent in the estimation of lithium resources. These statements involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance, or achievements to differ materially from any future results, performance or achievement expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "con

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