Insider Marc Fogassa Amends Atlas Lithium Stake on Dec 21

TL;DR

**Insider Marc Fogassa updated his Atlas Lithium ownership, signaling potential shifts in his view of the company.**

AI Summary

Marc Fogassa, a key insider, filed an Amendment No. 3 to his Schedule 13D on December 21, 2023, regarding his ownership in Atlas Lithium Corp. This filing updates his previous disclosures about his holdings of the company's Common Stock, $0.001 par value per share. This matters to investors because changes in insider ownership, especially from significant figures like Fogassa, can signal their confidence (or lack thereof) in the company's future prospects, potentially influencing stock price movements.

Why It Matters

This filing indicates an update to a significant insider's ownership position, which can be a strong signal about the company's future performance and management's alignment with shareholder interests.

Risk Assessment

Risk Level: medium — Changes in insider ownership can introduce uncertainty or signal potential shifts in company strategy, warranting investor attention.

Analyst Insight

Investors should investigate the full content of the Schedule 13D/A to understand the specific changes in Marc Fogassa's ownership, such as share count or voting power, to assess the potential implications for Atlas Lithium Corp's stock.

Key Players & Entities

• Marc Fogassa (person) — Reporting Person and authorized to receive notices
• Atlas Lithium Corp (company) — Name of Issuer
• $0.001 (dollar_amount) — par value per share of Common Stock
• December 21, 2023 (date) — Date of Event which Requires Filing of this Statement

FAQ

Key Financial Figures

• $0.001 — TION (Name of Issuer) Common Stock, $0.001 par value per share (Title of Class o
• $0.0075 — Stock ”) at an exercise price of $0.0075 per share. On December 22, 2023, the Re
• $0.10 — Stock ”) at an exercise price of $0.10 per share of Series D Stock and subsequ
• $21.87 — t prevailing market prices ranging from $21.87 to $27.20 between November 10, 2023 and
• $27.20 b — ng market prices ranging from $21.87 to $27.20 between November 10, 2023 and December 21

Filing Documents

• formsc13da.htm (SC 13D/A) — 45KB
• 0001493152-23-046638.txt ( ) — 46KB

From the Filing

SC 13D/A 1 formsc13da.htm UNITED SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D/A UNDER THE SECURITIES EXCHANGE ACT OF 1934 (Amendment No. 3 )* ATLAS LITHIUM CORPORATION (Name of Issuer) Common Stock, $0.001 par value per share (Title of Class of Securities) 105861207 (CUSIP Number) Marc Fogassa 1200 N Federal Hwy, Suite 200 Boca Raton, FL 33432 (833) 661-7900 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) December 21, 2023 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. * The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be “ filed ” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“ Act ”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP NO. 105861207 Schedule 13D 1. Names of Reporting Persons Marc Fogassa 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) 3. SEC Use Only 4. Source of Funds (See Instructions) OO 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) 6. Citizenship or Place of Organization United Number of Shares Beneficially Owned by Each Reporting Person With 7. Sole Voting Power 4,444,294 (1) 8. Shared Voting Power 105,608(2) 9. Sole Dispositive Power 4,444,294 (1) 10. Shared Dispositive Power 105,608(2) 11. Aggregate Amount Beneficially Owned by Each Reporting Person 4,444,294 (1)(2) 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) 13. Percent of Class Represented by Amount in Row (11) 41.42% (3) 14. Type of Reporting Person (See Instructions) IN (1) This number includes one (1) share of Common Stock which would be issued upon the conversion of the (1) share of Series A Convertible Preferred Stock held by the Reporting Person. (2) The Reporting Person may be considered to have shared voting and dispositive power with respect to the Common Stock held by (i) Lancaster Brazil Fund LP; (ii) Lancaster Gestora de Recursos Ltda; and (iii) Sainte Valiere, LLC. (3) Based on 10,729,260 Common Shares outstanding as of October 20, 2023, and assuming the conversion of all shares held into Common Shares, in accordance with Rule 13d-3 of the Act. EXPLANATORY NOTE This Amendment No. 3 (“ Amendment No. 3 ” ) to Schedule 13D is filed by Marc Fogassa (the “ Reporting Person ”) with respect to shares of common stock (“Common Stock”), originally reported by the Reporting Person on Schedule 13D filed with the United States Securities and Exchange Commission (“SEC”) on July 1, 2022, and subsequently amended or supplemented on May 26, 2023 and June 12, 2023 (collectively, the “ Original Schedule 13D ”). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the Original Schedule 13D. Except as specifically provided herein, this Amendment No. 3 does not modify any of the information previously reported in the Original Schedule 13D . Item 1. Security and Issuer The disclosure in Item 1 is amended to update the address of Atlas Lithium Corporation (the “ Issuer ” or the “ Company ”): The principal executive offices of the Issuer are located at Rua Buenos Aires, 10 – 14 th Floor, Belo Horizonte, Minas Gerais, 30.315-570, Brazil. Item 2. Identity and Background The disclosure in Item 2(b) and 2(c) is amended to update the Reporting Person’s business address. (b) The business address of the Reporting Person is 1200 N. Federal Highway, Suite 200, Boca Raton, Florida 33432. (c) The address of the Reporting Person’s employer is 1200 N. Federal Highway, Suite 200, Boca Raton, Florida 33432. Item 3. Source and Amount of Funds or Other Consideration The disclosure in Item 3 is hereby supplemented by adding the following: On December 21, 2023, the Reporting Person exercised options held since April 2019 to purchase 151,141 shares of common stock of the Issuer (the “ Common Stock ”) at an exercise price of $0.0075 per share. On December 22, 2023, the Reporting Person exercised options to purchase 90,000 shares of Series D Conve

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