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RELATED PARTY TRANSACTIONS | 9 Months Ended
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Sep. 30, 2025
Related Party Transactions [Abstract] |
RELATED PARTY TRANSACTIONS | NOTE 7 – RELATED PARTY TRANSACTIONS Related party transactions are recorded at the exchange amount transacted as agreed between the Company and the related party. All the related party transactions have been reviewed and approved by the Board. The Company’s related parties include: SCHEDULE OF RELATED PARTIES
Martin Rowley |  | Martin Rowley was a senior advisor to us; his service terminated on August 16, 2024. In 2023, we entered into a Convertible Note Purchase Agreement with Martin Rowley relating to the issuance to Martin Rowley along with other experienced lithium investors. Martin Rowley is the father of Nicholas Rowley, a former officer.
RTEK International DMCC (“RTEK”) |  | RTEK is a corporation in which Nicholas Rowley and Brian Talbot, a former officer and director, are controlling shareholders.
Mitsui & Co., Ltd. |  | Mitsui & Co., Ltd. is a non-controlling shareholder of the Company.
Technical Services Agreement In July 2023, we entered into a technical service agreement (the “Technical Services Agreement”) with RTEK pursuant to which RTEK agreed to provide us certain mining engineering, planning and business development services. Messrs. Nicholas Rowley and Brian Talbot are the founders and principals of RTEK. The Technical Services Agreement was amended and restated on March 31, 2024 to modify the compensation terms thereunder, and again amended and restated on August 16, 2024 (as further amended and restated, the “Second A&R RTEK Agreement”) in order to, among other things, revise certain budget and service terms and issue additional RSUs to RTEK, subject to achievement of certain milestones and performance criteria. On March 12, 2025, RTEK delivered a letter to the Company purporting to terminate the Second A&R RTEK Agreement due to the Company’s alleged repudiation of its obligations thereunder. The Company firmly disagrees with such allegation and at that time regarded the agreement as in effect. On March 20, 2025, the Company notified RTEK that it was terminating the agreement due to RTEK’s failure and inability to perform several of the services required under the agreement and several breaches to the other terms of the Second A&R RTEK Agreement. The Company does not believe that it will incur any early termination penalties as a result of its termination of the Second A&R RTEK Agreement. ATLAS LITHIUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 7 – RELATED PARTY TRANSACTIONS (CONTINUED) The related parties outstanding amounts and expenses as of September 30, 2025 and December 31, 2024 are shown below: SCHEDULE OF RELATED PARTIES OUTSTANDING AMOUNT AND EXPENSES
|  | September 30, 2025 |  |  | December 31, 2024 |
|  | Accounts Payable / Debt |  |  | Expenses / Payments |  |  | Accounts Payable / Debt |  |  | Expenses / Payments |
RTEK International DMCC |  | $ | - |  |  | $ | 29,294 |  |  | $ | - |  |  | $ | 2,844,549 |
In the course of preparing condensed consolidated financial statements, we eliminate the effects of various transactions conducted between Atlas Lithium and its subsidiaries and among the subsidiaries. Atlas Critical Minerals Corporation During the nine months ended September 30, 2025, Atlas Critical Minerals was party to the following stock-based compensation transactions with related parties of the Company: Pursuant to the amended and restated employment agreement between Atlas Critical Minerals and Mr. Fogassa, dated June 26, 2024, Atlas Critical Minerals issued 1,365,387 shares of its common stock to Mr. Fogassa during the nine months ended September 30, 2025 of Atlas Critical Mineral’s total outstanding common stock as of January 1, 2025. Atlas Critical Minerals issued 515,416 restricted stock units of Atlas Critical Minerals to officers and directors of the Company at a weighted average price of $ 0.83 per share in settlement of $427,832 in salaries and fees owed to such officers and directors due to their services provided to Atlas Critical Minerals.

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