Atlas Lithium (ATLX) 10-Q 14 Aug 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2023	Aug. 14, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-41552
Entity Registrant Name	ATLAS LITHIUM CORPORATION
Entity Central Index Key	0001540684
Entity Tax Identification Number	39-2078861
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	Rua Bahia
Entity Address, Address Line Two	2463 - Suite 205
Entity Address, City or Town	Belo Horizonte
Entity Address, Country	BR
Entity Address, Postal Zip Code	30.160-012
City Area Code	+55
Local Phone Number	31-3956-1109
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	ATLX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		10,662,060

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 20,165,214	$ 280,525
Accounts receivable	99	91
Taxes recoverable	21,281	17,705
Deposits and advances	65,166	47,093
Total current assets	20,251,760	345,414
Property and equipment, net	365,911	217,550
Intangible assets, net	7,361,149	4,971,267
Equity investments	150,000	150,000
Total assets	28,128,820	5,684,231
Current liabilities:
Accounts payable and accrued expenses	3,589,889	2,776,474
Total current liabilities	3,611,573	2,797,967
Deferred consideration from royalties sold	20,000,000
Other noncurrent liabilities	52,582	78,964
Total liabilities	23,664,155	2,876,931
Stockholders’ Equity:
Common stock, $0.001 par value. 200,000,000 and 4,000,000,000 shares authorized as of June 30, 2023 and December 31, 2022, respectively; 10,033,334 and 5,110,014 shares issued and outstanding as of June, 2023 and December 31, 2022, respectively	10,033	5,111
Additional paid-in capital	77,667,131	62,258,116
Accumulated other comprehensive loss	(876,318)	(981,040)
Accumulated deficit	(72,678,536)	(59,585,949)
Total Atlas Lithium Co. stockholders’ equity	4,122,311	1,696,453
Non-controlling interest	342,354	1,110,847
Total stockholders’ equity	4,464,665	2,807,300
Total liabilities and stockholders’ equity	28,128,820	5,684,231
Series A Preferred Stock [Member]
Stockholders’ Equity:
Preferred stock, value	1	1
Series D Preferred Stock [Member]
Stockholders’ Equity:
Preferred stock, value		214
Related Party [Member]
Current liabilities:
Related party notes and other payables	$ 21,684	$ 21,493

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	4,000,000,000
Common stock, shares issued	10,033,334	5,110,014
Common stock, shares outstanding	10,033,334	5,110,014
Series A Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	1	1
Preferred stock, shares issued	1	1
Preferred stock, shares outstanding	1	1
Series D Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	214,006
Preferred stock, shares outstanding	0	214,006

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenue		$ 2,367		$ 2,844
Cost of revenue		26,343		36,198
Gross loss		(23,976)		(33,354)
Operating expenses
Professional fees	48,700	24,180	190,600	144,021
General and administrative	1,317,781	400,926	2,613,744	622,391
Compensation and related costs	641,502	288,597	1,525,337	386,589
Stock-based compensation	2,852,309	255,170	3,981,154	643,189
Exploration	4,663,500	20,421	5,692,325	20,421
Total operating expenses	9,523,792	989,294	14,003,160	1,816,611
Loss from operations	(9,523,792)	(1,013,270)	(14,003,160)	(1,849,965)
Other expense (income)
Other expense (income)	(126,896)	(14)	(140,911)	(1,966)
Total other expense	(126,896)	(14)	(140,911)	(1,966)
Loss before provision for income taxes	(9,396,896)	(1,013,256)	(13,862,249)	(1,847,999)
Provision for income taxes
Net loss	(9,396,896)	(1,013,256)	(13,862,249)	(1,847,999)
Loss attributable to non-controlling interest	(270,247)	(142,240)	(769,662)	(445,493)
Net loss attributable to Atlas Lithium Corporation stockholders	$ (9,126,649)	$ (871,016)	$ (13,092,587)	$ (1,402,506)
Basic and diluted loss per share
Net loss per share attributable to Atlas Lithium Corporation common stockholders basic	$ (1.02)	$ (0.20)	$ (1.46)	$ (0.32)
Net loss per share attributable to Atlas Lithium Corporation common stockholders diluted	$ (1.02)	$ (0.20)	$ (1.46)	$ (0.32)
Weighted-average number of common shares outstanding:
Basic	8,966,065	4,433,925	8,966,065	4,433,925
Diluted	8,966,065	4,433,925	8,966,065	4,433,925
Comprehensive loss:
Foreign currency translation adjustment	$ 39,586	$ 249,649	$ 105,891	$ 306,464
Comprehensive loss	(9,357,310)	(763,607)	(13,756,358)	(1,541,535)
Comprehensive loss attributable to noncontrolling interests	(269,567)	107,924	(768,493)	(200,817)
Comprehensive loss attributable to Atlas Lithium Corporation stockholders	$ (9,087,743)	$ (871,531)	$ (12,987,865)	$ (1,340,718)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Preferred Stock [Member] Series A Preferred Stock [Member]	Preferred Stock [Member] Series D Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
Beginning balance, value at Dec. 31, 2021	$ 1	$ 214	$ 3,109,179	$ 51,466,376	$ (712,810)	$ (54,957,429)	$ 1,551,335	$ 456,866
Beginning balance, shares at Dec. 31, 2021	1	214,006	3,109,178,852
Issuance of common stock in connection with sales made under private offerings			$ 275,972	1,109,988				1,385,960
Issuance of common stock in connection with sales made under private offerings, shares			275,972,448
Stock-based compensation				643,189			(271,888)	371,301
Change in foreign currency translation					61,788		244,676	306,464
Net loss						(1,402,506)	(445,493)	(1,847,999)
Sale of Apollo Resources common stock in connection with equity offerings							525,000	525,000
Ending balance, value at Jun. 30, 2022	$ 1	$ 214	$ 3,385,151	53,219,553	(651,022)	(56,359,935)	1,603,630	1,197,592
Ending balance, shares at Jun. 30, 2022	1	214,006	3,385,151,300
Beginning balance, value at Dec. 31, 2022	$ 1	$ 214	$ 5,111	62,258,116	(981,040)	(59,585,949)	1,110,847	2,807,300
Beginning balance, shares at Dec. 31, 2022	1	214,006	5,110,014
Issuance of common stock in connection with sales made under private offerings			$ 1,845	10,523,273				$ 10,525,118
Issuance of common stock in connection with sales made under private offerings, shares			1,845,192					15,458
Issuance of common stock in connection with purchase of mining rights			$ 77	749,923				$ 750,000
Issuance of common stock in connection with purchase of mining rights, shares			77,240
Issuance of common stock in exchange for consulting, professional and other services			$ 5	45,000				45,005
Issuance of common stock in exchange for consulting, professional and other services, shares			5,206
Conversion of Convertible Preferred D stock into Common Stock		$ (214)	$ 2,853					2,639
Conversion of Convertible Preferred D stock into Common Stock, shares		(214,006)	2,853,413
Exercise of warrants			$ 121	360,253				360,374
Exercise of warrants, shares			121,014
Stock-based compensation			$ 21	3,580,566				3,580,587
Stock based compensation, shares			21,255
Change in foreign currency translation					104,722		1,169	105,891
Sale of Jupiter Gold common stock in connection with equity offerings				150,000				150,000
Net loss						(13,092,587)	(769,662)	(13,862,249)
Ending balance, value at Jun. 30, 2023	$ 1		$ 10,033	$ 77,667,131	$ (876,318)	$ (72,678,536)	$ 342,354	$ 4,464,665
Ending balance, shares at Jun. 30, 2023	1		10,033,334

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities of continuing operations:
Net loss	$ (13,862,249)	$ (1,847,999)
Adjustments to reconcile net loss to cash used in operating activities:
Stock-based compensation and services	3,981,154	643,189
Issuance of common stock in connection with purchase of mining rights	750,000
Depreciation and amortization	8,108	27,323
Other non cash expenses	140,911
Changes in operating assets and liabilities:
Accounts receivable	(8)	991
Taxes recoverable	(3,576)	(1,079)
Deposits and advances	(18,073)	(5,008)
Accounts payable and accrued expenses	813,606	(151,213)
Deferred consideration from royalties sold	20,000,000
Other noncurrent liabilities	(26,382)	6,495
Net cash provided (used) by operating activities	11,783,491	(1,327,301)
Cash flows from investing activities:
Acquisition of capital assets	(156,469)	(40,802)
Increase in intangible assets	(2,523,343)	(206,361)
Net cash used in investing activities	(2,679,812)	(247,163)
Cash flows from financing activities:
Net proceeds from sale of common stock	10,525,118	1,385,960
Proceeds from sale of subsidiary common stock to noncontrolling interests	150,000	525,000
Net cash provided by financing activities	10,675,118	1,910,960
Effect of exchange rates on cash and cash equivalents	105,891	34,592
Net increase (decrease) in cash and cash equivalents	19,884,689	31,454
Cash and cash equivalents at beginning of period	280,525	22,776
Cash and cash equivalents at end of period	$ 20,165,214	$ 54,230

ORGANIZATION, BUSINESS AND SUMM

ORGANIZATION, BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION, BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 – ORGANIZATION, BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization and Description of Business Atlas Lithium Corporation ( together with its subsidiaries . , “the Registrant”, “we”, “us”, or “our” Basis of Presentation and Principles of Consolidation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and are expressed in United States dollars. For the years ended December 31, 2022 and 2021, the consolidated financial statements include the accounts of the Company; its 99.99 50 99.99 45.11 28.00 All material intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingencies at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results may differ from those estimates. ATLAS LITHIUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 1 – ORGANIZATION, BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new pronouncements that have been issued that might have a material impact on its financial position or results of operations. ATLAS LITHIUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

COMPOSITION OF CERTAIN FINANCIA

COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS	NOTE 2 – COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS Property and Equipment The following table sets forth the components of the Company’s property and equipment as of SCHEDULE OF PROPERTY AND EQUIPMENT June 30, 2023 December 31, 2022 Cost Accumulated Net Book Cost Accumulated Net Book Capital assets subject to depreciation: Computers and office equipment $ 571 $ (571 ) $ - $ 571 $ (571 ) $ - Machinery and equipment 426,406 (374,262 ) 52,144 419,498 (362,140 ) 57,358 Vehicles 80,139 (80,139 ) - 80,139 (79,021 ) 1,118 Land 313,767 - 313,767 159,074 - 159,074 Total fixed assets $ 820,883 $ (454,972 ) $ 365,911 $ 659,282 $ (441,732 ) $ 217,550 For the three and six months ended June 30, 2023, the Company recorded depreciation expense of $ 4,093 8,108 13,661 27,323 Intangible Assets Intangible assets consist of mining rights which are not amortized as the mining rights are perpetual. The carrying value of these mineral rights as of 7,361,149 4,971,267 On January 19, 2023, the Company consummated a transaction in which it acquired five mineral rights (the “Mineral Rights”) totaling 1,090.88 hectares (~ 2,696 The Company’s obligations under the Acquisition Agreement are: 1) Payment of $ 400,000 750,000 2) Payment of $ 100,000 3) For each of the five areas comprising the Mineral Rights, 30 days after the payment described in item 2 above, the initiation of ten monthly payments of $ 22,000 4) If the Mineral Rights eventually yield at least five million tons of spodumene (a lithium-bearing mineral) containing at least an average of 1.3% Li 2 5) If the Mineral Rights eventually yield at least 10 million tons of spodumene containing at least an average of 1.3% Li 2 6) If the Mineral Rights eventually yield more than 10 million tons of spodumene containing at least an average of 1.3% Li 2 ATLAS LITHIUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 2 – COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS (CONTINUED) Accounts Payable and Accrued Liabilities SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED LIABILITIES June 30, 2023 December 31, 2022 Accounts payable and other accruals $ 1,974,686 $ 408,874 Mineral rights payable 1,615,203 2,367,600 Total $ 3,589,889 $ 2,776,474

DEFERRED CONSIDERATION FROM ROY

DEFERRED CONSIDERATION FROM ROYALTIES SOLD	6 Months Ended
	Jun. 30, 2023
Deferred Consideration From Royalties Sold
DEFERRED CONSIDERATION FROM ROYALTIES SOLD	NOTE 3 – DEFERRED CONSIDERATION FROM ROYALTIES SOLD On May 2, 2023, the Company and Atlas Litio Brasil Ltda. (the “Company Subsidiary”), entered into a Royalty Purchase Agreement (the “Purchase Agreement”) with Lithium Royalty Corp., a Canadian company listed on the Toronto Stock Exchange (“LRC”). The transaction contemplated under the Purchase Agreement closed simultaneously on May 2, 2023, whereby the Company Subsidiary sold to LRC in consideration for $ 20,000,000 3 (the “Royalty”) to be On the same day, the Company Subsidiary and LRC entered into a Gross Revenue Royalty Agreement (the “Royalty Agreement”) granted ed 5,000,000

OTHER NONCURRENT LIABILITIES

OTHER NONCURRENT LIABILITIES	6 Months Ended
	Jun. 30, 2023
Other Liabilities Disclosure [Abstract]
OTHER NONCURRENT LIABILITIES	NOTE 4 – OTHER NONCURRENT LIABILITIES Other noncurrent liabilities are comprised solely of social contributions and other employee-related costs at our operating subsidiaries located in Brazil. The balance of these employee related costs as of June 30, 2023, and December 31, 2022, amounted to $ 52,582 78,964

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 5 – STOCKHOLDERS’ EQUITY Authorized Stock and Amendments On July 18, 2022, the board of directors of the Company (the “Board of Directors” or “Board”) adopted resolutions to effect a reverse stock split of the Company’s issued and outstanding shares of common stock at a ratio of 1-for-750 without affecting the number of shares of authorized common stock (the “Originally Intended Reverse Stock Split”). The holder of the majority voting power of our voting stock (the “Majority Stockholder”) approved the Originally Intended Reverse Stock Split by written consent on July 18, 2022, in lieu of a meeting of stockholders as permitted under the Nevada Revised Statute (“NRS”) Section 78.320(2) and the company’s bylaws, as then amended (the “Bylaws”). For additional information on the Originally Intended Reverse Stock Split, refer to the Definitive Information Statement filed by the Company with the U.S. Securities and Exchange Commission (the “SEC” or the “Commission”) on July 29, 2022 (the “2022 Information Statement”) and the Form 8-K filed by the Company with the Commission on December 22, 2022, both available on EDGAR at www.sec.gov. On December 20, 2022, the Company filed a Certificate of Amendment to its Articles of Incorporation with the Secretary of State of the State of Nevada (“SOS”) that was intended to effect the Originally Intended Reverse Stock Split (the “Original Articles Amendment”). In April 2023, the Board of Directors determined (i) that the Original Articles Amendment inaccurately stated that the Originally Intended Reverse Stock Split was obtained by a stockholder vote under NRS 78.390, while approval of the stockholders was required under NRS 78.2055, with the holders of common stock voting as a separate class; and (ii) that the Original Articles Amendment was a nullity in that, under Nevada law, filing an amendment to articles of incorporation is not necessary to effectuate a reverse stock split. As a result, the Board of Directors determined that it would be in the best interest of the Company to take corrective action to remedy the inaccuracy and to file the documents that would have been necessary to effectuate a 1-for-750 Pursuant to the action of the Company’s board of directors by unanimous written consent on April 21, 2023, the board of directors authorized and approved (i) the Certificate of Correction to correct the Original Articles Amendment (the “Certificate of Correction”), and (ii) the Certificate of Change Pursuant to NRS 78.209 (the “Certificate of Change”) including the Certificate of Validation of the Certificate of Change (the “Change Validation Certificate”) in order to decrease the number of shares of the Company’s issued and outstanding shares of common stock and correspondingly decrease the number of authorized shares of common stock, each at a ratio of 1-for-750 To carry out the original intent of the Originally Intended Reverse Stock Split and in light of the correction, ratification and validation of the Rectified Reverse Stock Split as described above, the Company’s Board of Directors and the Majority Stockholder approved on April 21, 2023 the Authorized Capital Increase Amendment to increase the authorized number of shares of common stock from 5,333,334 4,000,000,000 Further, the Board of Directors determined that it was advisable and in the best interests of the Company to amend and restate the Company’s articles of incorporation (as amended to date, the “Current Articles”) to decrease the number of shares of authorized common stock to two hundred million ( 200,000,000 The foregoing corporate actions were disclosed in the Definitive Information Statement on Schedule 14C (the “Information Statement”) filed by the Company with the Commission on May 2, 2023. As also contemplated in the Information Statement, on May 25, 2023, the Company also filed with the SOS a Certificate of Withdrawal of Designation of the Series B Convertible Preferred Stock and the Certificate of Withdrawal of Designation of the Series C Convertible Preferred (collectively, the “Certificates of Withdrawal”). The filings of the Certificates of Withdrawals were effective as of May 25, 2023. As of December 31, 2022, the Company had 4,000,000,000 0.001 the Company’s Majority Stockholder, entitled to 51% of the voting power of the Company’s issued and outstanding voting stock 200,000,000 200,000,000 0.001 Reverse Stock Split In connection with the Originally Intended Reverse Stock Split, as corrected by the Rectified Reverse Stock Split, the Company effectuated as of December 20, 2022 a reverse stock split of our issued and outstanding shares of common stock at a ratio of 1-for-750 (the “Reverse Stock Split”). Following the Reverse Stock Split, each 750 shares of our issued and outstanding shares of common stock were automatically converted into one issued and outstanding share of common stock, without any change in par value per share. No fractional shares were issued as a result of the Reverse Stock Split and no cash or other consideration was paid. Instead, we issued one whole share of the post-split common stock to any stockholder who otherwise would have received a fractional share as a result of the Reverse Stock Split. As rectified, the Reverse Stock Split did not affect the number of shares of authorized stock. All share, equity award, and per share amounts contained in these Condensed Interim Consolidated Financial Statements have been adjusted to reflect the Reverse Stock Split for all prior periods presented. Series A Preferred Stock On December 18, 2012, the Company filed with the Nevada Secretary of State a Certificate of Designations, Preferences and Rights of Series A Convertible Preferred Stock (“Series A Stock”) to designate one share of a new series of preferred stock. The Certificate of Designations, Preferences and Rights of Series A Convertible Preferred Stock provides that for so long as Series A Stock is issued and outstanding, the holders of Series A Stock shall vote together as a single class with the holders of the Company’s common stock, with the holders of Series A Stock being entitled to 51% of the total votes on all such matters regardless of the actual number of shares of Series A Stock then outstanding, and the holders of common stock are entitled to their proportional share of the remaining 49% of the total votes based on their respective voting power Series D Preferred Stock On September 16, 2021, the Company filed with the Nevada Secretary of State a Certificate of Designations, Preferences and Rights of Series D Convertible Preferred Stock (“Series D Stock”) to designate 1,000,000 10,000 Giving effect to the Reverse Stock Split discussed above, each share of Series D Stock is effectively convertible into 13 and 1/3 shares of common stock Holders of the Series D Stock are not entitled to any liquidation preference over the holders of common stock and are entitled to any dividends or distributions declared by the Company on a pro rata basis. Six Months Ended June, 2023, Transactions On January 9, 2023, the Company, entered into an underwriting agreement (the “Underwriting Agreement”) with EF Hutton, division of Benchmark Investments, LLC, as representative of the underwriters named therein (the “Representative”), pursuant to which the Company agreed to sell an aggregate of 675,000 shares of the Company’s common stock, to the Representative, at a public offering price of $ 6.00 per share (the “Offering Price”) in a firm commitment public offering (the “Offering”). The Company also granted the Representative a 45-day option to purchase up to 101,250 additional shares of the Company’s common stock upon the same terms and conditions for the purpose of covering any over-allotments in connection with the Offering (the “Over-Allotment Option”). On January 11, 2023, the Representative delivered its notice to exercise the Over-Allotment Option in full. The shares of common stock were offered by the Company pursuant to a registration statement on Form S-1, as amended (File No. 333-262399) filed with the Commission and declared effective on January 9, 2023 (the “Registration Statement”). The consummation of the Offering took place on January 12, 2023 (the “Closing”). In connection with the Closing, the Company issued to the Representative, and/or its permitted designees, as a portion of the underwriting compensation payable to the Representative, warrants to purchase an aggregate of 33,750 5 7.50 125 4,657,500 The “ Intangible Assets On January 30, 2023, the company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with two investors (the “Investors”), pursuant to which the Company agreed to issue and sell to the Investors in a Regulation S private placement (the “Private Placement”) an aggregate of 640,000 restricted shares of the Company’s common stock (the “Shares”). The purchase price for the Shares was $ 6.25 per share, for total gross proceeds of $ 4,000,000 . The Private Placement transaction closed on February 1, 2023. Additionally, during the six months ended June 30, 2023, the Company sold an aggregate of 192,817 1,675,797 On May 26, 2023, our CEO and Chairman, Mr. Marc Fogassa, elected to convert 214,006 2,853,413 new shares of common stock. Lastly, during the six months ended June 30, 2023, the Company issued 5,206 Six Months Ended June 30, 2022 Transactions During the six months ended June 30, 2022, the Company issued 3 17,291 1,385,960 2023 Stock Incentive Plan On May 25, 2023, the Board approved the 2023 Stock Incentive Plan (the “Plan”) which enables the grant of stock options, stock appreciation rights, restricted stock, performance shares, stock unit awards, other stock-based awards, and performance-based cash awards, each of which may be granted separately or in tandem with other awards. The number of shares of Company’s common stock issuable pursuant to Plan will be equal to 2,000,000 For a description of the , please refer to the Company’s Revised Definitive Information Statement on Schedule 14C filed Common Stock Options During the six months ended June 30, 2023 and 2022, the Company granted options to purchase common stock to officers and non-management directors. The options were valued using the Black-Scholes option pricing model with the following ranges of assumptions: SCHEDULE OF OPTIONS FAIR VALUE ASSUMPTIONS June 30 2023 June 30 2022 Expected volatility 200.84 280.94 79.00 210.00 Risk-free interest rate 3.42 3.99 0.9 2.85 Stock price on date of grant $ 7.0000 38.8900 $ 7.50 37.50 Dividend yield 0.00 % 0.00 % Expected term 10 10 Changes in common stock options for the six months ended June 30, 2023 and 2022 were as follows: SCHEDULE OF OUTSTANDING AND EXERCISABLE OPTIONS Number of Options Outstanding and Vested Weighted Average Exercise Price Remaining Contractual Life (Years) Aggregated Intrinsic Value Outstanding and vested, January 1, 2023 178,672 $ 0.012 1.55 $ 1,228,972 Exercised (16,000 ) 0.75 Outstanding and vested, June 30, 2023 162,672 $ 0.0601 0.82 $ 3,474,652 During the six months ended June 30, 2023, option holders exercised a total 16,000 0.75 542 15,458 Number of Options Outstanding and Vested Weighted Average Exercise Price(1) Remaining Contractual Life (Years) Aggregated Intrinsic Value Outstanding and vested, January 1, 2022 6,546 $ 8.250 2.74 $ 19,675 Expired (2,571 ) 19.754 Outstanding and vested, June 30, 2022 3,975 $ 0.8092 2.05 $ 27,428 Changes in Series D preferred stock options for the six months ended June 30, 2023 and 2022 were as follows: Number of Options Outstanding and Vested Weighted Average Exercise Price(1) Remaining Contractual Life (Years) Aggregated Intrinsic Value Outstanding, January 1, 2023 72,000 $ 75.00 8.94 $ 6,712,912 Issued 18,000 75.00 Outstanding and vested, June 30, 2023 90,000 $ 75.00 8.69 $ 25,695,428 Number of Options Outstanding and Vested Weighted Average Exercise Price(1) Remaining Contractual Life (Years) Aggregated Intrinsic Value Outstanding, January 1, 2022 36,000 $ 75.00 9.44 $ 2,732,400 Issued 18,000 75.00 Outstanding and vested, June 30, 2022 54,000 $ 75.00 9.23 $ 5,502,692 (1) Represents the exercise price required to purchase one share of Series D Stock, which is convertible into 13 All Series D preferred stock options vested immediately upon issuance and are exercisable for a period of ten years from the date of issuance. The Series D preferred stock options issued in the six months ended June 30, 2023 were issued with a total grant date fair value of $ 1,003,783 322,135 Stock Purchase Warrants Stock purchase warrants are accounted for as equity in accordance with ASC 480, Accounting for Derivative Financial Instruments Indexed to, and Potentially Settled in, a Company’s Own Stock, Distinguishing Liabilities from Equity During the six months ended June 30, 2023 and 2022, the Company issued common stock purchase warrants to brokers in connection with the private placement financing. All warrants vest within 180 days from issuance and are exercisable for a period of two to five years from the date of issuance. Changes in stock purchase warrants for the six months ended June 30, 2023 and 2022 were as follows: SCHEDULE OF WARRANT ACTIVITY Number of Options Outstanding and Vested Weighted Average Exercise Price Weighted Average Contractual Life (Years) Aggregated Intrinsic Value Outstanding and vested, January 1, 2023 321,759 $ 12.8634 1.30 $ - Warrants issued(1) 234,735 8.1336 Warrants exercised(2) (388,676 ) 7.6496 Outstanding and vested, June 30, 2023 167,807 $ 9.9929 1.65 $ 1,917,556 (1) The warrants issued in the six months ended June 30, 2023 had a total grant date fair value of $ 2,156,793 8.10 18.00 0.0 196.40 3.43 3.54 5 (2) During the six months ended June 30, 2023, warrant holders exercised a total 388,676 342,114 5.1085 8.3325 844,039 46,573 342,114 Number of Options Outstanding and Vested Weighted Average Exercise Price Weighted Average Contractual Life (Years) Aggregated Intrinsic Value Outstanding and vested, January 1, 2022 406,270 $ 11.4750 1.97 $ - Outstanding and vested, June 30, 2022 406,270 $ 11.4750 1.48 $ - Common Stock Awards During the six months ended June 30, 2023, the Company awarded a total of 138,697 5 These common stock awards included (i) 50,933 common shares which vested immediately, (ii) 63,764 restricted shares of common stock which vest in equal annual installments over three years, and (iii) 24,000 restricted shares of common stock which vest in equal annual installments over four years 1,175,129 649,062 nil 87,764

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 6 – COMMITMENTS AND CONTINGENCIES Rental Commitment The Company rents office space in the U.S. for approximately $ 5,750

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 7 – RELATED PARTY TRANSACTIONS Jupiter Gold Corporation During the six months ended June 30, 2023, Jupiter Gold granted options to purchase an aggregate of 210,000 shares of its common stock to Marc Fogassa at prices ranging between $ 0.01 to $ 1.00 per share. The options were valued at $ 71,841 and recorded to stock-based compensation. The options were valued using the Black-Scholes option pricing model with the following average assumptions: the Company’s stock price on the date of the grant which ranged from $ 1.10 to $ 2.10 , expected dividend yield of 0 %, historical volatility calculated ranging from 298 371 %, risk-free interest rate between a range of 3.42 % to 3.99 %, and an expected term between five and ten years 1,115,000 0.98 386,420 728,580 On June 13, 2023, the Company purchased 320,700 1.00 During the six months ended June 30, 2022, Jupiter Gold granted options to purchase an aggregate of 210,000 0.01 1.00 51,967 0.8 1.00 0 225 1.59 2.85 five ten years Apollo Resources Corporation During the six months ended June 30, 2023, Apollo Resources granted options to purchase an aggregate of 90,000 0.01 111,874 5.00 75 0 53.2 58.0 3.42 3.99 ten years During the six months ended June 30, 2022, Apollo Resources granted options to purchase an aggregate of 180,000 1.22 219,921 1.25 5.00 0 71 1.59 2.85 five ten years

RISKS AND UNCERTAINTIES

RISKS AND UNCERTAINTIES	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
RISKS AND UNCERTAINTIES	NOTE 7 – RISKS AND UNCERTAINTIES Currency Risk We operate primarily in Brazil which exposes us to currency risks. Our business activities may generate intercompany receivables or payables that are in a currency other than the functional currency of the entity. Changes in exchange rates from the time the activity occurs to the time payments are made may result in it receiving either more or less in local currency than the local currency equivalent at the time of the original activity. Our consolidated financial statements are denominated in U.S. dollars. Accordingly, changes in exchange rates between the applicable foreign currency and the U.S. dollar affect the translation of each foreign subsidiary’s financial results into U.S. dollars for purposes of reporting in the consolidated financial statements. Our foreign subsidiaries translate their financial results from the local currency into U.S. dollars in the following manner: (a) income statement accounts are translated at average exchange rates for the period; (b) balance sheet asset and liability accounts are translated at end of period exchange rates; and (c) equity accounts are translated at historical exchange rates. Translation in this manner affects the shareholders’ equity account referred to as the foreign currency translation adjustment account. This account exists only in the foreign subsidiaries’ U.S. dollar balance sheets and is necessary to keep the foreign subsidiaries’ balance sheets in agreement.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8 – SUBSEQUENT EVENTS Private Placement On July 18, 2023, the Company consummated a transaction with four investors, pursuant to which the Company agreed to issue and sell to the Investors in a Regulation S private placement an aggregate of 526,317 0.001 19.00 10,000,023

ORGANIZATION, BUSINESS AND SU_2

ORGANIZATION, BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business Atlas Lithium Corporation ( together with its subsidiaries . , “the Registrant”, “we”, “us”, or “our”
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and are expressed in United States dollars. For the years ended December 31, 2022 and 2021, the consolidated financial statements include the accounts of the Company; its 99.99 50 99.99 45.11 28.00 All material intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingencies at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results may differ from those estimates. ATLAS LITHIUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 1 – ORGANIZATION, BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new pronouncements that have been issued that might have a material impact on its financial position or results of operations.

COMPOSITION OF CERTAIN FINANC_2

COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS (Tables)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SCHEDULE OF PROPERTY AND EQUIPMENT	The following table sets forth the components of the Company’s property and equipment as of SCHEDULE OF PROPERTY AND EQUIPMENT June 30, 2023 December 31, 2022 Cost Accumulated Net Book Cost Accumulated Net Book Capital assets subject to depreciation: Computers and office equipment $ 571 $ (571 ) $ - $ 571 $ (571 ) $ - Machinery and equipment 426,406 (374,262 ) 52,144 419,498 (362,140 ) 57,358 Vehicles 80,139 (80,139 ) - 80,139 (79,021 ) 1,118 Land 313,767 - 313,767 159,074 - 159,074 Total fixed assets $ 820,883 $ (454,972 ) $ 365,911 $ 659,282 $ (441,732 ) $ 217,550
SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	Accounts Payable and Accrued Liabilities SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED LIABILITIES June 30, 2023 December 31, 2022 Accounts payable and other accruals $ 1,974,686 $ 408,874 Mineral rights payable 1,615,203 2,367,600 Total $ 3,589,889 $ 2,776,474

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
SCHEDULE OF OPTIONS FAIR VALUE ASSUMPTIONS	During the six months ended June 30, 2023 and 2022, the Company granted options to purchase common stock to officers and non-management directors. The options were valued using the Black-Scholes option pricing model with the following ranges of assumptions: SCHEDULE OF OPTIONS FAIR VALUE ASSUMPTIONS June 30 2023 June 30 2022 Expected volatility 200.84 280.94 79.00 210.00 Risk-free interest rate 3.42 3.99 0.9 2.85 Stock price on date of grant $ 7.0000 38.8900 $ 7.50 37.50 Dividend yield 0.00 % 0.00 % Expected term 10 10
SCHEDULE OF OUTSTANDING AND EXERCISABLE OPTIONS	Changes in common stock options for the six months ended June 30, 2023 and 2022 were as follows: SCHEDULE OF OUTSTANDING AND EXERCISABLE OPTIONS Number of Options Outstanding and Vested Weighted Average Exercise Price Remaining Contractual Life (Years) Aggregated Intrinsic Value Outstanding and vested, January 1, 2023 178,672 $ 0.012 1.55 $ 1,228,972 Exercised (16,000 ) 0.75 Outstanding and vested, June 30, 2023 162,672 $ 0.0601 0.82 $ 3,474,652 During the six months ended June 30, 2023, option holders exercised a total 16,000 0.75 542 15,458 Number of Options Outstanding and Vested Weighted Average Exercise Price(1) Remaining Contractual Life (Years) Aggregated Intrinsic Value Outstanding and vested, January 1, 2022 6,546 $ 8.250 2.74 $ 19,675 Expired (2,571 ) 19.754 Outstanding and vested, June 30, 2022 3,975 $ 0.8092 2.05 $ 27,428 Changes in Series D preferred stock options for the six months ended June 30, 2023 and 2022 were as follows: Number of Options Outstanding and Vested Weighted Average Exercise Price(1) Remaining Contractual Life (Years) Aggregated Intrinsic Value Outstanding, January 1, 2023 72,000 $ 75.00 8.94 $ 6,712,912 Issued 18,000 75.00 Outstanding and vested, June 30, 2023 90,000 $ 75.00 8.69 $ 25,695,428 Number of Options Outstanding and Vested Weighted Average Exercise Price(1) Remaining Contractual Life (Years) Aggregated Intrinsic Value Outstanding, January 1, 2022 36,000 $ 75.00 9.44 $ 2,732,400 Issued 18,000 75.00 Outstanding and vested, June 30, 2022 54,000 $ 75.00 9.23 $ 5,502,692 (1) Represents the exercise price required to purchase one share of Series D Stock, which is convertible into 13
SCHEDULE OF WARRANT ACTIVITY	During the six months ended June 30, 2023 and 2022, the Company issued common stock purchase warrants to brokers in connection with the private placement financing. All warrants vest within 180 days from issuance and are exercisable for a period of two to five years from the date of issuance. Changes in stock purchase warrants for the six months ended June 30, 2023 and 2022 were as follows: SCHEDULE OF WARRANT ACTIVITY Number of Options Outstanding and Vested Weighted Average Exercise Price Weighted Average Contractual Life (Years) Aggregated Intrinsic Value Outstanding and vested, January 1, 2023 321,759 $ 12.8634 1.30 $ - Warrants issued(1) 234,735 8.1336 Warrants exercised(2) (388,676 ) 7.6496 Outstanding and vested, June 30, 2023 167,807 $ 9.9929 1.65 $ 1,917,556 (1) The warrants issued in the six months ended June 30, 2023 had a total grant date fair value of $ 2,156,793 8.10 18.00 0.0 196.40 3.43 3.54 5 (2) During the six months ended June 30, 2023, warrant holders exercised a total 388,676 342,114 5.1085 8.3325 844,039 46,573 342,114 Number of Options Outstanding and Vested Weighted Average Exercise Price Weighted Average Contractual Life (Years) Aggregated Intrinsic Value Outstanding and vested, January 1, 2022 406,270 $ 11.4750 1.97 $ - Outstanding and vested, June 30, 2022 406,270 $ 11.4750 1.48 $ -

SCHEDULE OF PROPERTY AND EQUIPM

SCHEDULE OF PROPERTY AND EQUIPMENT (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Cost	$ 820,883	$ 659,282
Accumulated Depreciation	(454,972)	(441,732)
Net Book Value	365,911	217,550
Computers and Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Cost	571	571
Accumulated Depreciation	(571)	(571)
Net Book Value
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Cost	426,406	419,498
Accumulated Depreciation	(374,262)	(362,140)
Net Book Value	52,144	57,358
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Cost	80,139	80,139
Accumulated Depreciation	(80,139)	(79,021)
Net Book Value		1,118
Land [Member]
Property, Plant and Equipment [Line Items]
Cost	313,767	159,074
Accumulated Depreciation
Net Book Value	$ 313,767	$ 159,074

ORGANIZATION, BUSINESS AND SU_3

ORGANIZATION, BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	Jun. 30, 2023
Atlas Litio Brasil Ltda. [Member]
Equity method investment ownership percentage	99.99%
Recursos Minerais Ltda [Member]
Equity method investment ownership percentage	50%
Hercules Brasil Comercioe Transportes Ltda [Member]
Equity method investment ownership percentage	99.99%
Apollo Resources Corporation [Member]
Equity method investment ownership percentage	45.11%
Jupiter Gold Corporation [Member]
Equity method investment ownership percentage	28%

SCHEDULE OF ACCOUNTS PAYABLE AN

SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts payable and other accruals	$ 1,974,686	$ 408,874
Mineral rights payable	1,615,203	2,367,600
Total	$ 3,589,889	$ 2,776,474

COMPOSITION OF CERTAIN FINANC_3

COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS (Details Narrative)		3 Months Ended		6 Months Ended
	Jan. 19, 2023 USD ($) a	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Depreciation		$ 4,093	$ 13,661	$ 8,108	$ 27,323
Carrying value of intangible assets		$ 7,361,149		$ 7,361,149		$ 4,971,267
Acquisition Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Area of land | a	2,696
Payments to acquire mineral rights	$ 400,000
Value of stock issued for acquisition	750,000
Payments to acquire five areas	100,000
Monthly payments	$ 22,000
Mineral Rights Acquisition Agreement [Member] | Atleast 5 Million Tons of Spodumene [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Acquisition agreement, description	If the Mineral Rights eventually yield at least five million tons of spodumene (a lithium-bearing mineral) containing at least an average of 1.3% Li2O, as determined by a technical report prepared by an independent consulting firm pursuant to the requirements of Item 1300 through Item 1305 of Regulation S-K (“SK1300 Report”), then an additional payment of 10 monthly installments of $10,000 and an additional issuance of $500,000 worth of restricted shares of common stock of the Company are to be made;
Mineral Rights Acquisition Agreement [Member] | Atleast 10 Million Tons of Spodumene [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Acquisition agreement, description	If the Mineral Rights eventually yield at least 10 million tons of spodumene containing at least an average of 1.3% Li2O, as determined by an SK1300 Report, then an additional payment of 10 monthly installments of $10,000 and an additional issuance of $500,000 worth of restricted shares of common stock of the Company are to be made; and
Mineral Rights Acquisition Agreement [Member] | More Than 10 Million Tons of Spodumene [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Acquisition agreement, description	If the Mineral Rights eventually yield more than 10 million tons of spodumene containing at least an average of 1.3% Li2O, as determined by an SK1300 Report, then a payment of $0.20 per each ton above 10 million tons is to be made.

DEFERRED CONSIDERATION FROM R_2

DEFERRED CONSIDERATION FROM ROYALTIES SOLD (Details Narrative) - Royalty Purchase Agreement [Member]	May 02, 2023 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Consideration and sale of subsidiary	$ 20,000,000
Percentage of royalty interest	3%
Royalty expense	$ 5,000,000

OTHER NONCURRENT LIABILITIES (D

OTHER NONCURRENT LIABILITIES (Details Narrative) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Employee related costs	$ 52,582	$ 78,964

SCHEDULE OF OPTIONS FAIR VALUE

SCHEDULE OF OPTIONS FAIR VALUE ASSUMPTIONS (Details) - $ / shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Expected volatility, minimum	200.84%	79%
Expected volatility, maximum	280.94%	210%
Risk-free interest rate, minimum	3.42%	0.90%
Risk-free interest rate, maximum	3.99%	2.85%
Dividend yield	0%	0%
Expected term	10 years	10 years
Minimum [Member]
Stock price grant, maximum	$ 7	$ 7.50
Maximum [Member]
Stock price grant, maximum	$ 38.8900	$ 37.50

SCHEDULE OF OUTSTANDING AND EXE

SCHEDULE OF OUTSTANDING AND EXERCISABLE OPTIONS (Details) - USD ($)		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022
Series D Preferred Stock [Member]
Class of Stock [Line Items]
Number of options outstanding and vested, beginning balance		72,000	36,000
Weighted average exercise price, outstanding, beginning	[1]	$ 75	$ 75
Remaining contractual life (years), beginning		8 years 11 months 8 days	9 years 5 months 8 days
Aggregated intrinsic value, beginning		$ 6,712,912	$ 2,732,400
Number of options outstanding and vested, ending balance		90,000	54,000
Weighted average exercise price, outstanding ending	[1]	$ 75	$ 75
Remaining contractual life (years), ending		8 years 8 months 8 days	9 years 2 months 23 days
Aggregated intrinsic value, ending		$ 25,695,428	$ 5,502,692
Number of options outstanding and vested, issued		18,000	18,000
Weighted average exercise price, issued	[1]	$ 75	$ 75
Share-Based Payment Arrangement, Option [Member]
Class of Stock [Line Items]
Number of options outstanding and vested, beginning balance		178,672	6,546
Weighted average exercise price, outstanding, beginning		$ 0.012	$ 8.250	[1]
Remaining contractual life (years), beginning		1 year 6 months 18 days	2 years 8 months 26 days
Aggregated intrinsic value, beginning		$ 1,228,972	$ 19,675
Number of options outstanding and vested, exercised		(16,000)
Weighted average exercise price, exercised		$ 0.75
Number of options outstanding and vested, ending balance		162,672	3,975
Weighted average exercise price, outstanding ending		$ 0.0601	$ 0.8092	[1]
Remaining contractual life (years), ending		9 months 25 days	2 years 18 days
Aggregated intrinsic value, ending		$ 3,474,652	$ 27,428
Number of options outstanding and vested, expired			(2,571)
Weighted average exercise price, expired	[1]		$ 19.754
[1]Represents the exercise price required to purchase one share of Series D Stock, which is convertible into 13

SCHEDULE OF OUTSTANDING AND E_2

SCHEDULE OF OUTSTANDING AND EXERCISABLE OPTIONS (Details) (Parenthetical)	6 Months Ended
	Jun. 30, 2023 shares
Series D Preferred Stock [Member]
Class of Stock [Line Items]
Conversion of stock	13

SCHEDULE OF WARRANT ACTIVITY (D

SCHEDULE OF WARRANT ACTIVITY (Details) - USD ($)		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of warrants, outstanding, beginning balance		321,759	406,270
Weighted average exercise price, outstanding, beginning balance		$ 12.8634	$ 11.4750
Remaining contractual life (years), beginning		1 year 3 months 18 days	1 year 11 months 19 days
Aggregated intrinsic value, outstanding, beginning balance
Number of warrants, issued	[1]	234,735
Weighted average exercise price, issued	[1]	$ 8.1336
Number of warrants, exercised		(388,676)
Weighted average exercise price, exercised		$ 7.6496
Number of warrants, outstanding, ending balance		167,807	406,270
Weighted average exercise price, outstanding, ending balance		$ 9.9929	$ 11.4750
Remaining contractual life (years), ending		1 year 7 months 24 days	1 year 5 months 23 days
Aggregated intrinsic value, outstanding, ending balance		$ 1,917,556
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of warrants, exercised		(16,000)
Aggregated intrinsic value, beginning
Aggregated intrinsic value, ending
[1]The warrants issued in the six months ended June 30, 2023 had a total grant date fair value of $ 2,156,793 8.10 18.00 0.0 196.40 3.43 3.54 5

SCHEDULE OF WARRANT ACTIVITY _2

SCHEDULE OF WARRANT ACTIVITY (Details) (Parenthetical)	6 Months Ended
	Jun. 30, 2023 USD ($) Integer $ / shares shares
Accumulated Other Comprehensive Income (Loss) [Line Items]
Grant date fair value, issued | $	$ 2,156,793
Common share issue	15,458
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of warrants, exercised	388,676
Common share issue	342,114
Cash proceeds | $	$ 844,039
Warrants conceded in cashless exercise	46,573
Minimum [Member] | Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exercise price | $ / shares	$ 5.1085
Maximum [Member] | Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exercise price | $ / shares	$ 8.3325
Measurement Input, Share Price [Member] | Minimum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Risk free interest rate, maximum | Integer	8.10
Measurement Input, Share Price [Member] | Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Risk free interest rate, maximum | Integer	18
Measurement Input, Expected Dividend Rate [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Risk free interest rate, maximum	0
Measurement Input, Option Volatility [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Risk free interest rate, maximum	196.40
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Risk free interest rate, maximum	3.43
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Risk free interest rate, maximum	0.0354
Measurement Input, Expected Term [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Expected term	5 years

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)

6 Months Ended

May 26, 2023

Apr. 21, 2023

Jan. 30, 2023

Jan. 12, 2023

Jan. 09, 2023

Dec. 20, 2022

Sep. 16, 2021

Jun. 30, 2023

Jun. 30, 2022

May 25, 2023

Dec. 31, 2022

Dec. 19, 2022

Dec. 31, 2021

Accumulated Other Comprehensive Income (Loss) [Line Items]

Stockholders equity reverse stock split

reverse stock split of our issued and outstanding shares of common stock at a ratio of 1-for-750 (the “Reverse Stock Split”). Following the Reverse Stock Split, each 750 shares of our issued and outstanding shares of common stock were automatically converted into one issued and outstanding share of common stock, without any change in par value per share.

Common stock, shares authorized

200,000,000

4,000,000,000

Common stock, par value

$ 0.001

$ 0.001

Gross proceeds from offering

$ 10,525,118

$ 1,385,960

Common shares issued

15,458

Gross from common stock

$ 10,525,118

1,385,960

Stock options conceded in cashless exercises

542

Share based compensation expense

$ 3,981,154

$ 643,189

2023 Stock Incentive Plan [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Number of shares common stock issuable pursuant to awards granted

2,000,000

Underwriting Agreement [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Sale of Stock, Number of Shares Issued in Transaction

675,000

Sale of Stock, Price Per Share

$ 6

Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross

101,250

Security Purchase Agreement [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures

640,000

Shares Issued, Price Per Share

$ 6.25

Proceeds from Issuance of Private Placement

$ 4,000,000

Series A Preferred Stock [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Preferred Stock, Voting Rights

Series A Stock being entitled to 51% of the total votes on all such matters regardless of the actual number of shares of Series A Stock then outstanding, and the holders of common stock are entitled to their proportional share of the remaining 49% of the total votes based on their respective voting power

Preferred stock, shares authorized

1

1

Series D Convertible Preferred Stock [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Stockholders equity reverse stock split

Giving effect to the Reverse Stock Split discussed above, each share of Series D Stock is effectively convertible into 13 and 1/3 shares of common stock Holders of the Series D Stock are not entitled to any liquidation preference over the holders of common stock and are entitled to any dividends or distributions declared by the Company on a pro rata basis.

Preferred stock, shares authorized

1,000,000

Conversion of stock

10,000

Series D Preferred Stock [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Preferred stock, shares authorized

1,000,000

1,000,000

Conversion of stock

13

Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross

18,000

18,000

Exercise price

[1]

$ 75

$ 75

$ 75

$ 75

Conversion of convertible preferred D stock into common stock, shares

214,006

Grant date fair value, issued

$ 1,003,783

$ 322,135

Accredited Investors [Member] | Subscription Agreements [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Common shares issued

192,817

3

Gross from common stock

$ 1,675,797

$ 1,385,960

Marc Fogassa [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Common shares issued

2,853,413

Officer and Consultants [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Common shares issued

5,206

Officer [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Purchase price

$ 5

Common Stock [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Stockholders equity reverse stock split

1-for-750

Common stock, shares authorized

4,000,000,000

200,000,000

200,000,000

5,333,334

Common stock voting rights

the Company’s Majority Stockholder, entitled to 51% of the voting power of the Company’s issued and outstanding voting stock

Common shares issued

1,845,192

275,972,448

Gross from common stock

$ 1,845

$ 275,972

Conversion of convertible preferred D stock into common stock, shares

2,853,413

Number of options, exercised

16,000

Weighted average exercise price, exercised

$ 0.75

Common Stock [Member] | Director [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Common stock, shares authorized

200,000,000

Common Stock [Member] | Officer [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Grant date fair value, issued

$ 1,175,129

Total number of shares issued

138,697

Share based compensation arrangement by share based payment award award vesting rights

These common stock awards included (i) 50,933 common shares which vested immediately, (ii) 63,764 restricted shares of common stock which vest in equal annual installments over three years, and (iii) 24,000 restricted shares of common stock which vest in equal annual installments over four years

Share based compensation expense

$ 649,062

Unvested common stock awards outstanding

87,764

Representative Warrants [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Warrants to purchase shares

33,750

Percentage of common stock sold

5%

Exercise price

$ 7.50

Percentage of offering price

125%

Gross proceeds from offering

$ 4,657,500

[1]Represents the exercise price required to purchase one share of Series D Stock, which is convertible into 13

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative)	6 Months Ended
	Jun. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Operating rental lease	$ 5,750

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)			6 Months Ended
	Jun. 13, 2023	May 26, 2023	Jun. 30, 2023	Jun. 30, 2022
Stock-based compensation			$ 3,580,587	$ 371,301
Dividend yield			0%	0%
Historical volatility			280.94%	210%
Risk free interest, minimum			3.42%	0.90%
Risk free interest, maximum			3.99%	2.85%
Expected term			10 years	10 years
Issuance of common stock in connection with sales made under private offerings, shares			15,458
Risk free interest, minimum			200.84%	79%
Minimum [Member]
Stock price grant, maximum			$ 7	$ 7.50
Maximum [Member]
Stock price grant, maximum			$ 38.8900	$ 37.50
Marc Fogassa [Member]
Issuance of common stock in connection with sales made under private offerings, shares		2,853,413
Jupiter Gold Corporation [Member]
Issuance of common stock in connection with sales made under private offerings, shares	320,700
Shares issued price per share	$ 1
Jupiter Gold Corporation [Member] | Marc Fogassa [Member]
Options to purchase shares			210,000	210,000
Exercise price minimum			$ 0.01	$ 0.01
Exercise price maximum			$ 1	$ 1
Stock-based compensation			$ 71,841	$ 51,967
Dividend yield			0%	0%
Historical volatility				225%
Risk free interest, minimum			3.42%	1.59%
Risk free interest, maximum			3.99%	2.85%
Stock issued during period shares stock options exercised			1,115,000
Weighted average exercise price			$ 0.98
Number of shares conceded in cashless exercises			386,420
Issuance of common stock in connection with sales made under private offerings, shares			728,580
Jupiter Gold Corporation [Member] | Marc Fogassa [Member] | Minimum [Member]
Stock price grant, maximum			$ 1.10	$ 0.8
Historical volatility			298%
Expected term			5 years	5 years
Jupiter Gold Corporation [Member] | Marc Fogassa [Member] | Maximum [Member]
Stock price grant, maximum			$ 2.10	$ 1
Historical volatility			371%
Expected term			10 years	10 years
Apollo Resource Corporation [Member] | Marc Fogassa [Member]
Options to purchase shares			90,000	180,000
Stock-based compensation			$ 111,874	$ 219,921
Dividend yield			0%	0%
Historical volatility			58%	7,100%
Risk free interest, minimum			3.42%
Risk free interest, maximum			3.99%	2.85%
Exercise price			$ 0.01	$ 1.22
Illiquidity discount			75%
Risk free interest, minimum			53.20%	1.59%
Apollo Resource Corporation [Member] | Marc Fogassa [Member] | Minimum [Member]
Stock price grant, maximum				$ 1.25
Expected term				5 years
Apollo Resource Corporation [Member] | Marc Fogassa [Member] | Maximum [Member]
Stock price grant, maximum			$ 5	$ 5
Expected term			10 years	10 years

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Jul. 18, 2023	Jun. 30, 2023	Dec. 31, 2022
Subsequent Event [Line Items]
Common stock, par value		$ 0.001	$ 0.001
Private Placement [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Number of shares sold to investors	526,317
Common stock, par value	$ 0.001
Sale of stock, price per share	$ 19
Total gross proceeds	$ 10,000,023