$ATLX

Brazil Minerals, Inc.

CIK:0001540684|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Gross revenues		$ 42,991	$ 84,797	$ 79,416
Sales deductions		(11,186)	(10,411)	(22,436)
Net revenue		31,805	74,386	56,980
Cost of revenue		(50,028)	(2,343)	(137,878)
Gross profit (loss)		(18,223)	72,043	(80,898)
Operating expenses
General and administrative expenses	9,525,974	4,522,404	20,331,109	9,438,662
Stock-based compensation	2,050,055	1,577,716	8,113,212	6,407,886
Exploration	244,637		244,637
Other operating expenses	8,187	4,113	4,378	18,567
Total operating expenses	11,828,853	6,104,233	28,693,336	15,865,115
Loss from operations	(11,828,853)	(6,122,456)	(28,621,293)	(15,946,013)
Other (expense) income
Other (expense) income	4,849	(495)	5,695	(468)
Fair value adjustments, net	1,721	17,607	6,364	59,240
Finance (costs) income	323,943	(175,326)	570,838	(606,026)
Total other (expense) income	330,513	(157,224)	582,897	(547,254)
Loss before provision for income taxes	(11,498,340)	(6,279,680)	(28,038,396)	(16,493,267)
Income taxes
Net loss	(11,498,340)	(6,279,680)	(28,038,396)	(16,493,267)
Loss attributable to noncontrolling interest	(1,275,330)	(720,447)	(4,257,978)	(1,917,077)
Net loss attributable to Atlas Lithium Corporation stockholders	$ (10,223,010)	$ (5,559,233)	$ (23,780,418)	$ (14,576,190)
Basic and diluted loss per share
Net loss per share attributable to Atlas Lithium Corporation common stockholders basic	$ (0.35)	$ (0.31)	$ (0.84)	$ (0.84)
Net loss per share attributable to Atlas Lithium Corporation common stockholders diluted	$ (0.35)	$ (0.31)	$ (0.84)	$ (0.84)
Weighted-average number of common shares outstanding:
Basic	29,361,881	18,004,362	28,305,556	17,257,239
Diluted	29,361,881	18,004,362	28,305,556	17,257,239
Comprehensive loss:
Net loss	$ (11,498,340)	$ (6,279,680)	$ (28,038,396)	$ (16,493,267)
Other comprehensive results	(20,845)	392,850	180,218	877,798
Comprehensive loss	(11,519,185)	(5,886,830)	(27,858,178)	(15,615,469)
Comprehensive results attributable to noncontrolling interests	22,143	(677,779)	7,290	(1,776,541)
Comprehensive loss attributable to Atlas Lithium Corporation stockholders	$ (11,541,328)	$ (5,209,051)	$ (27,865,468)	$ (13,838,928)

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities of continuing operations:
Net loss	$ (28,038,396)	$ (16,493,267)
Adjustments to reconcile net loss to cash used in operating activities:
Stock-based compensation and services	8,113,212	6,407,886
Depreciation and amortization	66,921	58,772
Lease expenses	169,692	87,748
Interest expense	322,330	322,330
Unwinding of non-current liabilities	51,521	66,658
Fair value adjustments	(6,364)	(59,035)
Other non cash expenses		(11,318)
Gain/loss on FOREX transactions	64,392	350,481
Changes in operating assets and liabilities:
Inventories and accounts receivable	14,941	115,468
Taxes recoverable	798,943	(214,572)
Prepaid and other current assets	108,142	50,832
Accounts payable and accrued expenses	314,924	1,024,768
Other noncurrent assets and liabilities	(194,557)	(13,744)
Net cash used by operating activities	(18,214,299)	(8,306,993)
Cash flows from investing activities:
Acquisition of capital assets	(1,815,412)	(4,727,445)
Capitalized exploration costs	(231,447)	(1,562,917)
Net cash used in investing activities	(2,046,859)	(6,290,362)
Cash flows from financing activities:
Net proceeds from sale of common stock	11,317,743	11,917,596
Proceeds from sale of subsidiary common stock to noncontrolling interests	9,590,800	1,411,899
Cash used in payment of debt	(322,330)	(322,330)
Leases payments	(169,692)	(84,033)
Net cash provided by financing activities	20,416,521	12,923,132
Effect of exchange rates on cash and cash equivalents	2,146	1,710
Net increase (decrease) in cash and cash equivalents	157,509	(1,672,513)
Cash and cash equivalents at beginning of period	35,935,104	15,537,476
Cash and cash equivalents at end of period	$ 36,092,613	$ 13,864,963

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 36,092,613	$ 35,935,104
Accounts receivable		28,539
Inventories	518,905	505,307
Taxes recoverable	361,741	1,041,306
Derivative assets	405,600	219,556
Prepaid and other current assets	38,479	146,620
Total current assets	37,417,338	37,876,432
Taxes recoverable	669,942	673,545
Property and equipment, net	49,985,099	47,959,905
Intangible assets, net	264,001	309,258
Right of use assets - operating leases, net	548,418	623,104
Other assets	463,639	255,208
Total assets	89,348,437	87,697,452
Current liabilities:
Accounts payable and accrued expenses	4,976,464	4,498,525
Derivative liabilities	314	21,579
Convertible debt	10,045,219	9,993,699
Operating lease liabilities	349,885	286,876
Other current liabilities	9,857	8,828
Total current liabilities	15,381,739	14,809,507
Operating lease liabilities	234,211	331,425
Deferred consideration from royalties sold	20,000,000	20,000,000
Other noncurrent liabilities	24,729	27,240
Total liabilities	35,640,679	35,168,172
Stockholders’ equity:
Series A preferred stock, $0.001 par value. 1 shares authorized; 1 share issued and outstanding as of June 30, 2026 and December 31, 2025	1	1
Common stock, $0.001 par value. 200,000,000 and 200,000,000 shares authorized as of June 30, 2026 and December 31, 2025, respectively and 30,062,617 and 26,968,501 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	30,063	26,969
Additional paid-in capital	240,486,076	223,411,482
Accumulated other comprehensive loss	(102,125)	(141,940)
Cumulative adjustment of the valuation of fin. instruments	358,018	224,905
Accumulated deficit	(193,335,227)	(171,570,902)
Total Atlas Lithium Co. stockholders’ equity	47,436,806	51,950,515
Noncontrolling interest	6,270,952	578,765
Total stockholders’ equity	53,707,758	52,529,280
Total liabilities and stockholders’ equity	$ 89,348,437	$ 87,697,452