Atlas Lithium (ATLX) 10-Q 20 Oct 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2023	Oct. 20, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2023
Document Fiscal Period Focus	Q3
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 Buenos Aires
Entity Address, Address Line Two	10 – 14th floor
Entity Address, City or Town	Belo Horizonte
Entity Address, Country	BR
Entity Address, Postal Zip Code	30.315-570
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		10,729,260

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 22,857,357	$ 280,525
Accounts receivable		91
Taxes recoverable	2,355	17,705
Deposits and advances	68,746	47,093
Total current assets	22,928,458	345,414
Property and equipment, net	285,475	217,550
Intangible assets, net	5,911,516	4,971,267
Equity investments		150,000
Total assets	29,125,449	5,684,231
Current liabilities:
Accounts payable and accrued expenses	2,647,549	2,776,474
Total current liabilities	2,647,549	2,797,967
Deferred consideration from royalties sold	20,000,000
Other noncurrent liabilities	56,630	78,964
Total liabilities	22,704,179	2,876,931
Stockholders’ Equity:
Common stock, $0.001 par value. 200,000,000 and 4,000,000,000 shares authorized as of September 30, 2023 and December 31, 2022, respectively and 10,688,727 and 5,110,014 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively	10,689	5,111
Additional paid-in capital	91,608,657	62,258,116
Accumulated other comprehensive loss	(1,115,798)	(981,040)
Accumulated deficit	(83,958,011)	(59,585,949)
Total Atlas Lithium Co. stockholders’ equity	6,545,538	1,696,453
Non-controlling interest	(124,268)	1,110,847
Total stockholders’ equity	6,421,270	2,807,300
Total liabilities and stockholders’ equity	29,125,449	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		$ 21,493

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 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	10,688,727	5,110,014
Common stock, shares outstanding	10,688,727	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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenue		$ 3,301		$ 6,145
Cost of revenue		27,534		63,732
Gross loss		(24,233)		(57,587)
Operating expenses
Professional fees	212,579	45,978	403,179	189,999
General and administrative	1,058,808	478,899	3,672,552	1,101,290
Compensation and related costs	530,538	172,730	2,055,875	559,319
Stock based compensation	3,699,588	386,287	7,680,742	1,029,476
Exploration	5,941,109	163,800	11,633,434	184,221
Total operating expenses	11,442,622	1,247,694	25,445,782	3,064,305
Loss from operations	(11,442,622)	(1,271,927)	(25,445,782)	(3,121,892)
Other expense (income)
Other expense (income)	295,731	(1,917)	154,820	(3,883)
Total other expense	295,731	(1,917)	154,820	(3,883)
Loss before provision for income taxes	(11,738,353)	(1,270,010)	(25,600,602)	(3,118,009)
Provision for income taxes
Net loss	(11,738,353)	(1,270,010)	(25,600,602)	(3,118,009)
Loss attributable to non-controlling interest	(458,878)	(241,818)	(1,228,540)	(687,311)
Net loss attributable to Atlas Lithium Corporation stockholders	$ (11,279,475)	$ (1,028,192)	$ (24,372,062)	$ (2,430,698)
Basic and diluted loss per share
Net loss per share attributable to Atlas Lithium Corporation common stockholders basic	$ (1.09)	$ (0.22)	$ (2.76)	$ (0.53)
Net loss per share attributable to Atlas Lithium Corporation common stockholders diluted	$ (1.09)	$ (0.22)	$ (2.76)	$ (0.53)
Weighted-average number of common shares outstanding:
Basic	10,363,991	4,579,688	8,818,972	4,579,688
Diluted	10,363,991	4,579,688	8,818,972	4,579,688
Comprehensive loss:
Foreign currency translation adjustment	$ (247,224)	$ (267,594)	$ (141,333)	$ 38,870
Comprehensive loss	(11,985,577)	(1,537,604)	(25,741,935)	(3,079,139)
Comprehensive loss attributable to noncontrolling interests	(466,622)	(472,483)	(1,235,115)	(673,300)
Comprehensive loss attributable to Atlas Lithium Corporation stockholders	$ (11,518,955)	$ (1,065,121)	$ (24,506,820)	$ (2,405,839)

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			$ 457,626	2,156,110				2,613,736
Issuance of common stock in connection with sales made under private offerings, shares			457,625,961
Issuance of common stock in connection with purchase of mining rights			$ 87,719	912,281				1,000,000
Issuance of common stock in connection with purchase of mining rights, shares			87,719,300
Stock based compensation				1,029,476				1,029,476
Change in foreign currency translation					24,859		14,011	38,870
Sale of Jupiter Gold common stock in connection with equity offerings				50,000				50,000
Sale of Apollo Resources common stock in connection with equity offerings							525,000	525,000
Net loss						(2,430,698)	(687,311)	(3,118,009)
Ending balance, value at Sep. 30, 2022	$ 1	$ 214	$ 3,654,524	55,614,243	(687,951)	(57,388,127)	1,403,035	2,595,939
Ending balance, shares at Sep. 30, 2022	1	214,006	3,654,524,113
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			$ 2,372	20,522,744				$ 20,525,116
Issuance of common stock in connection with sales made under private offerings, shares			2,371,509					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
Stock based compensation			$ 59	5,399,686				5,399,745
Change in foreign currency translation					(134,758)		(6,575)	(141,333)
Sale of Jupiter Gold common stock in connection with equity offerings				300,000				300,000
Net loss						(24,372,062)	(1,228,540)	(25,600,602)
Issuance of common stock in exchange for consulting, professional and other services			$ 96	2,017,827				2,017,923
Issuance of common stock in exchange for consulting, professional and other services, shares			96,327
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	360,361				360,482
Exercise of warrants, shares			121,014
Stock based compensation, shares			59,210
Ending balance, value at Sep. 30, 2023	$ 1		$ 10,689	$ 91,608,657	$ (1,115,798)	$ (83,958,011)	$ (124,268)	$ 6,421,270
Ending balance, shares at Sep. 30, 2023	1		10,688,727

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities of continuing operations:
Net loss	$ (25,600,602)	$ (3,118,009)
Adjustments to reconcile net loss to cash used in operating activities:
Stock based compensation and services	7,680,742	1,029,476
Issuance of common stock in connection with purchase of mining rights	750,000
Depreciation and amortization	30,116	(16,717)
Other non cash expenses	159,991
Changes in operating assets and liabilities:
Accounts receivable		1,154
Taxes recoverable	5,450	(579)
Deposits and advances	(21,653)	(8,722)
Accounts payable and accrued expenses	333,269	1,938,819
Deferred consideration from royalties sold	20,000,000
Other noncurrent liabilities	(22,334)	(83,715)
Net cash used in operating activities	3,314,979	(258,293)
Cash flows from investing activities:
Acquisition of capital assets	(98,041)	(46,990)
Increase in intangible assets	(1,423,936)	(2,526,836)
Net cash used in investing activities	(1,521,977)	(2,573,826)
Cash flows from financing activities:
Net proceeds from sale of common stock	20,522,531	2,613,736
Proceeds from sale of subsidiary common stock to noncontrolling interests	300,000	575,000
Net cash provided by financing activities	20,822,531	3,188,736
Effect of exchange rates on cash and cash equivalents	(38,701)	38,870
Net increase (decrease) in cash and cash equivalents	22,576,832	395,487
Cash and cash equivalents at beginning of period	280,525	22,776
Cash and cash equivalents at end of period	$ 22,857,357	$ 418,263

ORGANIZATION, BUSINESS AND SUMM

ORGANIZATION, BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 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 “Atlas Lithium.” the “Company”, “the Registrant”, “we”, “us”, or “our”) was incorporated under the laws of the State of Nevada, on December 15, 2011. The Company changed its management and business on December 18, 2012, to focus on mineral exploration in Brazil. 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 99.99 % owned subsidiary, Hercules Resources Corporation (“HRC”), which includes the accounts of HRC’s wholly-owned subsidiary, Hercules Brasil Comercio e Transportes Ltda. (“Hercules Brasil”); 45.11 27.42 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. 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	9 Months Ended
	Sep. 30, 2023
Composition Of Certain Financial Statement Items
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 September 30, 2023 and December 31, 2022: SCHEDULE OF PROPERTY AND EQUIPMENT September 30, 2023 December 31, 2022 Cost Accumulated Net Book Cost Accumulated Net Book Capital assets subject to depreciation: Computers and office equipment $ 595 $ (595 ) $ - $ 571 $ (571 ) $ - Machinery and equipment 435,141 (387,691 ) 47,450 419,498 (362,140 ) 57,358 Vehicles 84,439 (83,562 ) 877 80,139 (79,021 ) 1,118 Land 237,149 - 237,149 159,074 - 159,074 Total fixed assets $ 757,323 $ (471,848 ) $ 285,475 $ 659,282 $ (441,732 ) $ 217,550 For the three and nine months ended September 30, 2023, the Company recorded depreciation expense of $ 22,008 30,116 1,086 16,717 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 September 30, 2023 and at December 31, 2022 was $ 5,911,516 4,971,267 The Company previously reported it was acquiring five mineral rights totaling 1,090.88 45.77 ● Payment of $ 400,000 ● Issuance of $ 750,000 As of September 30 th 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 September 30, 2023 December 31, 2022 Accounts payable and other accruals $ 2,163,863 $ 408,874 Mineral rights payable 483,687 2,367,600 Total $ 2,647,549 $ 2,776,474

DEFERRED CONSIDERATION FROM ROY

DEFERRED CONSIDERATION FROM ROYALTIES SOLD	9 Months Ended
	Sep. 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 On the same day, the Company Subsidiary and LRC entered into a Gross Revenue Royalty Agreement (the “Royalty Agreement”) pursuant to which the Company Subsidiary granted LRC the Royalty and undertook to calculate and make royalty payment on a quarterly basis commencing from the first receipt of the sales proceeds with respect to the products from the Property. The Royalty Agreement contains other customary terms, including but not limited to, the scope of the gross revenue, the Company Subsidiary’s right to determine operations, and LRC’s information and audit rights. Under the Royalty Agreement, the Company Subsidiary also granted LRC an option to purchase additional royalty interest with respect to certain additional Brazilian mineral rights and properties on the same terms and conditions as the Royalty, at a total purchase price of $ 5,000,000

OTHER NONCURRENT LIABILITIES

OTHER NONCURRENT LIABILITIES	9 Months Ended
	Sep. 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 September 30, 2023, and December 31, 2022, amounted to $ 56,630 78,964

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	9 Months Ended
	Sep. 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 ATLAS LITHIUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 5 – STOCKHOLDERS’ EQUITY (CONTINUED) 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. 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. Nine Months Ended September 30, 2022, Transactions During the nine months ended September 30, 2022, the Company issued 610,168 2,613,736 116,959 1,000,000 Nine Months Ended September 30, 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 6.00 101,250 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”). ATLAS LITHIUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 5 – STOCKHOLDERS’ EQUITY (CONTINUED) 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 Company previously reported it was acquiring five mineral rights totaling 1,090.88 45.77 ● Payment of $ 400,000 ● issuance of $ 750,000 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 6.25 4,000,000 Additionally, during the nine months ended September 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 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 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 ATLAS LITHIUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 5 – STOCKHOLDERS’ EQUITY (CONTINUED) Common Stock Options Changes in common stock options for the nine months ended September 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, September 30, 2023 162,672 $ 0.0601 0.57 $ 4,969,608 During the nine months ended September 30, 2023, option holders exercised a total 16,000 0.75 542 15,458 Number of Options Outstanding and Vested Weighted Average Exercise Price Remaining Contractual Life (Years) Aggregated Intrinsic Value Outstanding and vested, January 1, 2022 6,546 $ 8.250 2.74 $ 19,675 Issued 174,697 0.1063 Expired (2,571 ) 19.75 Outstanding and vested, September 30, 2022 178,672 $ 0.1219 1.80 $ 1,559,465 The common stock options issued in the nine months ended September 30, 2022 were issued with a grant date fair value of $ 58,685 Series D preferred stock options Options During the nine months ended September 30, 2023 and 2022, the Company granted options to purchase series D stock to directors. The options were valued using the Black-Scholes option pricing model with the following ranges of assumptions: SCHEDULE OF OPTIONS FAIR VALUE ASSUMPTIONS September 30 2023 September 30 2022 Expected volatility 200.03 280.94 % 79.00 206.00 % Risk-free interest rate 3.42 4.19 % 1.51 3.19 % Stock price on date of grant $ 7.0000 38.8900 $ 1.20 7.50 Dividend yield 0.00 % 0.00 % Expected term 5 5 Changes in Series D preferred stock options for the nine months ended September 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 $ 0.10 8.94 $ 6,712,912 Issued 27,000 0.10 Outstanding and vested, September 30, 2023 99,000 $ 0.10 8.57 $ 40,395,300 Number of Options Outstanding and Vested Weighted Average Exercise Price(1) Remaining Contractual Life (Years) Aggregated Intrinsic Value Outstanding, January 1, 2022 36,000 $ 0.10 9.44 $ 2,732,400 Issued 27,000 0.10 Outstanding and vested, September 30, 2022 63,000 $ 0.10 9.07 $ 7,427,700 (1) Represents the exercise price required to purchase one share of Series D Stock, which is convertible into 13 ATLAS LITHIUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 5 – STOCKHOLDERS’ EQUITY (CONTINUED) 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 nine months ended September 30, 2023 were issued with a total grant date fair value of $ 1,736,227 570,670 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 nine months ended September 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 nine months ended September 30, 2023 and 2022 were as follows: SCHEDULE OF WARRANT ACTIVITY Number of Warrants 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) (439,104 ) 7.6609 Outstanding and vested, September 30, 2023 117,390 $ 10.9570 0.73 $ 2,307,065 (1) The warrants issued in the nine months ended September 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 nine months ended September 30, 2023, warrant holders exercised a total 439,104 380,314 5.1085 8.3325 981,541 58,790 380,314 Number of Warrants 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 $ - Warrants issued(1) 96,397 6.7639 Warrants exercised(2) (146,113 ) 8.0767 Outstanding and vested, September 30, 2022 321,770 $ 11.5939 1.79 $ 372,990 NOTE 5 – STOCKHOLDERS’ EQUITY (CONTINUED) Common Stock Awards During the nine months ended September 30, 2023, the Company granted 385,626 i. 204,262 ii. 63,764 iii. 97,600 iv. 20,000 These restricted shares become unrestricted immediately upon vesting and were issued with a total grant date fair value of $ 6,922,121 1,338,015 nil As of September 30, 2023, the Company had 181,364

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 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 $ 4,598 on a month-to-month basis. The Company also rents office space in Brazil. Such costs are immaterial to the consolidated financial statements. ATLAS LITHIUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 7 – RELATED PARTY TRANSACTIONS Jupiter Gold Corporation During the nine months ended September 30, 2023, Jupiter Gold granted options to purchase an aggregate of 315,000 shares of its common stock to Marc Fogassa at prices ranging between $ 0.01 to $ 1.00 per share. The options were valued at $ 96,097 0.85 to $ 2.10 , an illiquidity discount of 75% 0 %, historical volatility calculated ranging from 298 % to 371 %, risk-free interest rate between a range of 3.42 % to 4.19 %, and an expected term between five and ten years . During the nine months ended September 30, 2023, Marc Fogassa exercised a total 1,115,000 options at a $ 0.98 weighted average exercise price. These exercises were paid for with 386,420 options conceded in cashless exercises. As a result of the options exercised, the Company issued 728,580 shares of the Jupiter Gold’s common stock to Marc Fogassa. On June 13, 2023, the Company purchased 320,700 1.00 During the nine months ended September 30, 2022, Jupiter Gold granted options to purchase an aggregate of 420,000 shares of its common stock to Marc Fogassa at prices ranging between $ 0.01 to $ 1.00 per share. The options were valued at $ 77,982 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 $ 0.2525 to $ 0.275 expected dividend yield of 0 %, historical volatility calculated at 227 %, risk-free interest rate between a range of 1.51 % to 3.19 %, and an expected term between five and ten years . Apollo Resources Corporation During the nine months ended September 30, 2023, Apollo Resources granted options to purchase an aggregate of 135,000 0.01 167,822 5.00 75 0 44.0 58.0 3.42 4.19 ten years During the nine months ended September 30, 2022, Apollo Resources granted options to purchase an aggregate of 225,000 shares of its common stock to Marc Fogassa at a price of $ 1.22 per share. The options were valued at $ 275,858 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 $ 1.00 to $ 1.25 , expected dividend yield of 0 %, historical volatility calculated at 71 %, risk-free interest rate between a range of 1.51 % to 3.19 %, and an expected term between five and ten ATLAS LITHIUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

RISKS AND UNCERTAINTIES

RISKS AND UNCERTAINTIES	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
RISKS AND UNCERTAINTIES	NOTE 8 – 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	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9 – SUBSEQUENT EVENTS None.

ORGANIZATION, BUSINESS AND SU_2

ORGANIZATION, BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 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 “Atlas Lithium.” the “Company”, “the Registrant”, “we”, “us”, or “our”) was incorporated under the laws of the State of Nevada, on December 15, 2011. The Company changed its management and business on December 18, 2012, to focus on mineral exploration in Brazil.
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 99.99 % owned subsidiary, Hercules Resources Corporation (“HRC”), which includes the accounts of HRC’s wholly-owned subsidiary, Hercules Brasil Comercio e Transportes Ltda. (“Hercules Brasil”); 45.11 27.42 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.
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)	9 Months Ended
	Sep. 30, 2023
Composition Of Certain Financial Statement Items
SCHEDULE OF PROPERTY AND EQUIPMENT	The following table sets forth the components of the Company’s property and equipment as of September 30, 2023 and December 31, 2022: SCHEDULE OF PROPERTY AND EQUIPMENT September 30, 2023 December 31, 2022 Cost Accumulated Net Book Cost Accumulated Net Book Capital assets subject to depreciation: Computers and office equipment $ 595 $ (595 ) $ - $ 571 $ (571 ) $ - Machinery and equipment 435,141 (387,691 ) 47,450 419,498 (362,140 ) 57,358 Vehicles 84,439 (83,562 ) 877 80,139 (79,021 ) 1,118 Land 237,149 - 237,149 159,074 - 159,074 Total fixed assets $ 757,323 $ (471,848 ) $ 285,475 $ 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 September 30, 2023 December 31, 2022 Accounts payable and other accruals $ 2,163,863 $ 408,874 Mineral rights payable 483,687 2,367,600 Total $ 2,647,549 $ 2,776,474

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
SCHEDULE OF OPTIONS FAIR VALUE ASSUMPTIONS	Changes in common stock options for the nine months ended September 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, September 30, 2023 162,672 $ 0.0601 0.57 $ 4,969,608 During the nine months ended September 30, 2023, option holders exercised a total 16,000 0.75 542 15,458 Number of Options Outstanding and Vested Weighted Average Exercise Price Remaining Contractual Life (Years) Aggregated Intrinsic Value Outstanding and vested, January 1, 2022 6,546 $ 8.250 2.74 $ 19,675 Issued 174,697 0.1063 Expired (2,571 ) 19.75 Outstanding and vested, September 30, 2022 178,672 $ 0.1219 1.80 $ 1,559,465 The common stock options issued in the nine months ended September 30, 2022 were issued with a grant date fair value of $ 58,685 Series D preferred stock options Options During the nine months ended September 30, 2023 and 2022, the Company granted options to purchase series D stock to directors. The options were valued using the Black-Scholes option pricing model with the following ranges of assumptions: SCHEDULE OF OPTIONS FAIR VALUE ASSUMPTIONS September 30 2023 September 30 2022 Expected volatility 200.03 280.94 % 79.00 206.00 % Risk-free interest rate 3.42 4.19 % 1.51 3.19 % Stock price on date of grant $ 7.0000 38.8900 $ 1.20 7.50 Dividend yield 0.00 % 0.00 % Expected term 5 5 Changes in Series D preferred stock options for the nine months ended September 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 $ 0.10 8.94 $ 6,712,912 Issued 27,000 0.10 Outstanding and vested, September 30, 2023 99,000 $ 0.10 8.57 $ 40,395,300 Number of Options Outstanding and Vested Weighted Average Exercise Price(1) Remaining Contractual Life (Years) Aggregated Intrinsic Value Outstanding, January 1, 2022 36,000 $ 0.10 9.44 $ 2,732,400 Issued 27,000 0.10 Outstanding and vested, September 30, 2022 63,000 $ 0.10 9.07 $ 7,427,700 (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 nine months ended September 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 nine months ended September 30, 2023 and 2022 were as follows: SCHEDULE OF WARRANT ACTIVITY Number of Warrants 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) (439,104 ) 7.6609 Outstanding and vested, September 30, 2023 117,390 $ 10.9570 0.73 $ 2,307,065 (1) The warrants issued in the nine months ended September 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 nine months ended September 30, 2023, warrant holders exercised a total 439,104 380,314 5.1085 8.3325 981,541 58,790 380,314 Number of Warrants 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 $ - Warrants issued(1) 96,397 6.7639 Warrants exercised(2) (146,113 ) 8.0767 Outstanding and vested, September 30, 2022 321,770 $ 11.5939 1.79 $ 372,990

ORGANIZATION, BUSINESS AND SU_3

ORGANIZATION, BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	Dec. 31, 2022	Dec. 31, 2021
Atlas Litio Brasil Ltda. [Member]
Equity method investment ownership percentage	99.99%	99.99%
Apollo Resources Corporation [Member]
Equity method investment ownership percentage	45.11%	45.11%
Jupiter Gold Corporation [Member]
Equity method investment ownership percentage	27.42%	27.42%

SCHEDULE OF PROPERTY AND EQUIPM

SCHEDULE OF PROPERTY AND EQUIPMENT (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Cost	$ 757,323	$ 659,282
Accumulated Depreciation	(471,848)	(441,732)
Net Book Value	285,475	217,550
Computers and Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Cost	595	571
Accumulated Depreciation	(595)	(571)
Net Book Value
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Cost	435,141	419,498
Accumulated Depreciation	(387,691)	(362,140)
Net Book Value	47,450	57,358
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Cost	84,439	80,139
Accumulated Depreciation	(83,562)	(79,021)
Net Book Value	877	1,118
Land [Member]
Property, Plant and Equipment [Line Items]
Cost	237,149	159,074
Accumulated Depreciation
Net Book Value	$ 237,149	$ 159,074

SCHEDULE OF ACCOUNTS PAYABLE AN

SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Composition Of Certain Financial Statement Items
Accounts payable and other accruals	$ 2,163,863	$ 408,874
Mineral rights payable	483,687	2,367,600
Total	$ 2,647,549	$ 2,776,474

COMPOSITION OF CERTAIN FINANC_3

COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS (Details Narrative)			3 Months Ended		9 Months Ended
	Feb. 01, 2023 USD ($)	Jan. 19, 2023 USD ($) ha	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Depreciation			$ 22,008	$ 1,086	$ 30,116	$ 16,717
Carrying value of intangible assets			$ 5,911,516		$ 5,911,516		$ 4,971,267
Mineral rights, hectares | ha		45.77
Acquisition Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Mineral rights, hectares | ha		1,090.88
Payments to acquire mineral rights		$ 400,000
Value of stock issued for acquisition	$ 750,000

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 ($)	Sep. 30, 2023	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Employee related costs	$ 56,630	$ 78,964

SCHEDULE OF OPTIONS FAIR VALUE

SCHEDULE OF OPTIONS FAIR VALUE ASSUMPTIONS (Details) - USD ($)		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022
Class of Stock [Line Items]
Number of Options Outstanding and Vested, Issued		174,697
Weighted Average Exercise Price, Issued	[1]	$ 0.1063
Series D Preferred Stock [Member]
Class of Stock [Line Items]
Number of Options Outstanding and Vested, Outstanding, Balance		72,000	36,000
Weighted Average Exercise Price, Outstanding, Balance	[1]	$ 0.10	$ 0.10
Remaining Contractual Life (Years)		8 years 11 months 8 days	9 years 5 months 8 days
Aggregated Intrinsic Value, Balance		$ 6,712,912	$ 2,732,400
Number of Options Outstanding and Vested, Outstanding, Balance		99,000	63,000
Weighted Average Exercise Price, Outstanding, Balance	[1]	$ 0.10	$ 0.10
Remaining Contractual Life (Years)		8 years 6 months 25 days	9 years 25 days
Aggregated Intrinsic Value, Balance		$ 40,395,300	$ 7,427,700
Number of Options Outstanding and Vested, Issued		27,000	27,000
Weighted Average Exercise Price, Issued	[1]	$ 0.10	$ 0.10
Expected volatility, minimum		200.03%	79%
Expected volatility, maximum		280.94%	206%
Risk-free interest rate, minimum		3.42%	1.51%
Risk-free interest rate, maximum		4.19%	3.19%
Dividend yield		0%	0%
Expected term		5 years	5 years
Series D Preferred Stock [Member] | Minimum [Member]
Class of Stock [Line Items]
Stock price grant, maximum		$ 7	$ 1.20
Series D Preferred Stock [Member] | Maximum [Member]
Class of Stock [Line Items]
Stock price grant, maximum		$ 38.8900	$ 7.50
Share-Based Payment Arrangement, Option [Member]
Class of Stock [Line Items]
Number of Options Outstanding and Vested, Outstanding, Balance		178,672	6,546
Weighted Average Exercise Price, Outstanding, Balance		$ 0.012	$ 8.250	[1]
Remaining Contractual Life (Years)		1 year 6 months 18 days	2 years 8 months 26 days
Aggregated Intrinsic Value, Balance		$ 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, Outstanding, Balance		162,672	178,672
Weighted Average Exercise Price, Outstanding, Balance		$ 0.0601	$ 0.1219	[1]
Remaining Contractual Life (Years)		6 months 25 days	1 year 9 months 18 days
Aggregated Intrinsic Value, Balance		$ 4,969,608	$ 1,559,465
Number of Options Outstanding and Vested, Expired			(2,571)
Weighted Average Exercise Price, Exercised	[1]		$ 19.75
[1]Represents the exercise price required to purchase one share of Series D Stock, which is convertible into 13

SCHEDULE OF OUTSTANDING AND EXE

SCHEDULE OF OUTSTANDING AND EXERCISABLE OPTIONS (Details) (Parenthetical)	9 Months Ended
	Sep. 30, 2022 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) - Warrant [Member] - USD ($)	9 Months Ended
	Sep. 30, 2023		Sep. 30, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of Options Outstanding and Vested, Balance	321,759		406,270
Weighted Average Exercise Price, Outstanding and vested, Balance	$ 12.8634		$ 11.4750
Weighted Average Contractual Life (Years)	1 year 3 months 18 days		1 year 11 months 19 days
Aggregated Intrinsic Value, Balance
Number of Options Outstanding and Vested, Warrants issued	234,735	[1]	96,397
Weighted Average Exercise Price, Warrants issued	$ 8.1336	[1]	$ 6.7639
Number of Options Outstanding and Vested, Warrants exercised	(439,104)	[2]	(146,113)
Weighted Average Exercise Price, Warrants exercised	$ 7.6609	[2]	$ 8.0767
Number of Options Outstanding and Vested, Balance	117,390		321,770
Weighted Average Exercise Price, Outstanding and vested, Balance	$ 10.9570		$ 11.5939
Weighted Average Contractual Life (Years)	8 months 23 days		1 year 9 months 14 days
Aggregated Intrinsic Value, Balance	$ 2,307,065		$ 372,990
[1]The warrants issued in the nine months ended September 30, 2023 had a total grant date fair value of $ 2,156,793 8.10 18.00 0.0 196.40 3.43 3.54 439,104 380,314 5.1085 8.3325 981,541 58,790 380,314

SCHEDULE OF WARRANT ACTIVITY _2

SCHEDULE OF WARRANT ACTIVITY (Details) (Parenthetical)	9 Months Ended
	Sep. 30, 2023 USD ($) Integer $ / shares shares		Sep. 30, 2022 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	439,104	[1]	146,113
Common share issue	380,314
Cash proceeds | $	$ 981,541
Warrants conceded in cashless exercise	58,790
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, minimum | Integer	8.10
Measurement Input, Share Price [Member] | Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Risk free interest rate, minimum | Integer	18
Measurement Input, Expected Dividend Rate [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Risk free interest rate, minimum	0
Measurement Input, Option Volatility [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Risk free interest rate, minimum	196.40
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Risk free interest rate, minimum	3.43
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Risk free interest rate, minimum	3.54
Measurement Input, Expected Term [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Expected term	5 years
[1]During the nine months ended September 30, 2023, warrant holders exercised a total 439,104 380,314 5.1085 8.3325 981,541 58,790 380,314

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative)

3 Months Ended

9 Months Ended

Jul. 18, 2023 USD ($) $ / shares shares

May 26, 2023 shares

Apr. 21, 2023

Feb. 01, 2023 USD ($)

Jan. 30, 2023 USD ($) $ / shares shares

Jan. 19, 2023 USD ($) ha

Jan. 12, 2023 USD ($) $ / shares shares

Jan. 09, 2023 $ / shares shares

Dec. 20, 2022 shares

Sep. 16, 2021 shares

Sep. 30, 2023 USD ($) $ / shares shares

Sep. 30, 2022 USD ($) $ / shares

Sep. 30, 2023 USD ($) $ / shares shares

Sep. 30, 2022 USD ($) $ / shares shares

Jun. 30, 2023 $ / shares shares

May 25, 2023 shares

Dec. 31, 2022 $ / shares shares

Dec. 19, 2022 shares

Dec. 31, 2021 $ / shares

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

200,000,000

4,000,000,000

Common stock, par value | $ / shares

$ 0.001

$ 0.001

$ 0.001

Gross from common stock | $

$ 20,525,116

$ 2,613,736

Stock Issued During Period, Value, Conversion of Convertible Securities | $

$ 2,639

Additional shares of the common stock

174,697

Gross proceeds from offering | $

$ 20,522,531

2,613,736

Mineral rights, hectares | ha

45.77

Common shares issued

15,458

Stock options conceded in cashless exercises

542

Grant date fair value, issued | $

$ 58,685

Common stock awards

385,626

Grant date fair value of vesting | $

$ 6,922,121

Stock based compensation | $

$ 3,699,588

$ 386,287

$ 7,680,742

1,029,476

Unvested common stock awards

181,364

181,364

Services Rendered Signing Bonuses And Retention Incentives [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Common stock awards

204,262

Vest In Equal Annual Installments Over Three Years [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Common stock awards

63,764

Vest In Equal Annual Installments Over Four Years [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Common stock awards

97,600

Vest Two Years After Award Date [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Common stock awards

20,000

Common Stock Awards [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Stock based compensation | $

$ 1,338,015

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

Private Placement [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Common stock, par value | $ / shares

$ 0.001

Number of shares sold to investors

526,317

Sale of stock, price per share | $ / shares

$ 19

Total gross proceeds | $

$ 10,000,023

Underwriting Agreement [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Number of shares sold to investors

675,000

Sale of stock, price per share | $ / shares

$ 6

Additional shares of the common stock

101,250

Acquisition Agreement [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Mineral rights, hectares | ha

1,090.88

Payments to acquire mineral rights | $

$ 400,000

Value of stock issued for acquisition | $

$ 750,000

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 | $ / shares

$ 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

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

1,000,000

Conversion of stock

13

Conversion of convertible preferred D stock into common stock, shares

214,006

Additional shares of the common stock

27,000

27,000

Exercise price | $ / shares

[1]

$ 0.10

$ 0.10

$ 0.10

$ 0.10

$ 0.10

$ 0.10

Grant date fair value, issued | $

$ 570,670

Grant date fair value, issued | $

$ 1,736,227

Accredited Investors [Member] | Subscription Agreements [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Number of shares sold to investors

610,168

Gross from common stock | $

$ 1,675,797

$ 2,613,736

Conversion of convertible preferred D stock into common stock, shares

116,959

Stock Issued During Period, Value, Conversion of Convertible Securities | $

$ 1,000,000

Common shares issued

192,817

Marc Fogassa [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Common shares issued

2,853,413

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, par value | $ / shares

$ 0.001

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

Gross from common stock | $

$ 2,372

$ 457,626

Conversion of convertible preferred D stock into common stock, shares

2,853,413

Stock Issued During Period, Value, Conversion of Convertible Securities | $

$ 2,853

Common shares issued

2,371,509

457,625,961

Number of options, exercised

16,000

Weighted average exercise price, exercised | $ / shares

$ 0.75

Common Stock [Member] | Director [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Common stock, shares authorized

200,000,000

Representative Warrants [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Warrants to purchase shares

33,750

Percentage of common stock sold

5%

Exercise price | $ / shares

$ 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)	9 Months Ended
	Sep. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Payments for Rent	$ 4,598

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)			9 Months Ended
	Jun. 13, 2023	May 26, 2023	Sep. 30, 2023	Sep. 30, 2022
Options to purchase shares			174,697
Stock-based compensation			$ 5,399,745	$ 1,029,476
Issuance of common stock in connection with sales made under private offerings, shares			15,458
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			315,000	420,000
Exercise price minimum			$ 0.01	$ 0.01
Exercise price maximum			$ 1	$ 1
Stock-based compensation			$ 96,097	$ 77,982
Illiquidity discount			75%
Dividend yield			0%	0%
Historical volatility				227%
Risk free interest, minimum			3.42%	1.51%
Risk free interest, maximum			4.19%	3.19%
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]
Share price			$ 0.85	$ 0.2525
Historical volatility			298%
Expected term			5 years	5 years
Jupiter Gold Corporation [Member] | Marc Fogassa [Member] | Maximum [Member]
Share price			$ 2.10	$ 0.275
Historical volatility			371%
Expected term			10 years	10 years
Apollo Resource Corporation [Member] | Marc Fogassa [Member]
Options to purchase shares			135,000	225,000
Stock-based compensation			$ 167,822	$ 275,858
Illiquidity discount			75%
Dividend yield			0%	0%
Historical volatility			58%	71%
Risk free interest, minimum			3.42%	1.51%
Risk free interest, maximum			4.19%	3.19%
Exercise price			$ 0.01	$ 1.22
Historical volatility			44%
Apollo Resource Corporation [Member] | Marc Fogassa [Member] | Minimum [Member]
Share price				1
Apollo Resource Corporation [Member] | Marc Fogassa [Member] | Maximum [Member]
Share price			$ 5	$ 1.25
Expected term			10 years