ATLAS CRITICAL MINERALS Corp
ATCX · Gold and Silver Ores · EDGAR filings ↗
Grade
F40Pre-revenue Brazilian critical-minerals explorer with no reserves, negative gross margin and a chronically negative working-capital position.
Strengths
- Raised ~$9.7M net in a Jan 2026 Nasdaq offering, easing near-term liquidity
- No funded debt beyond operational payables and related-party loans
Risks
- Exploration-stage with zero reserves, ROE -6.7% (1st pct), gross margin -64% (2.8 pct), cash runway ~0 quarters
- Current ratio 0.39 with negative working capital; revenue fell 86% as quartzite production paused
- Accumulated deficit ~$14.5M, going-concern-adjacent reliance on equity issuance
Notable findings
- No interest coverageInterest coverage -114.36 (cannot cover interest)
- Net lossNet loss (net margin -5860.2%)
- Cash burnNegative free cash flow (-3.1M)
- Weak liquidityCurrent ratio 0.39 (<1)
- Revenue declineRevenue -86.1% YoY
Key metrics
Gross margin
-64.3%
Operating margin
-5787.6%
Net margin
-5860.2%
Return on equity
-673.8%
Return on assets
-204.5%
Revenue growth (QoQ)
-86.1%
Interest coverage
-114.4×
Current ratio
0.4×
Free cash flow
-$3M
EBITDA
-$5M
Tangible book value
$804K
Cash & investments
$30K
Cash runway
0q
Stock comp / revenue
2079.4%
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-02-20 | 2025-12-31 | 0001493152-26-007592 ↗ |
| 20-F | 2025-02-28 | 2024-12-31 | 0001493152-25-008689 ↗ |
| 20-F | 2024-03-12 | 2023-12-31 | 0001493152-24-009676 ↗ |
| 20-F | 2023-04-28 | 2022-12-31 | 0001493152-23-014676 ↗ |
| 20-F | 2022-04-29 | 2021-12-31 | 0001493152-22-011483 ↗ |
| 20-F | 2021-04-30 | 2020-12-31 | 0001520138-21-000235 ↗ |
| 20-F | 2020-04-30 | 2019-12-31 | 0001520138-20-000190 ↗ |
| 20-F | 2019-05-15 | 2018-12-31 | 0001079974-19-000252 ↗ |
| 20-F | 2018-05-15 | 2017-12-31 | 0001079974-18-000263 ↗ |
| 20-F | 2017-05-15 | 2016-12-31 | 0001079974-17-000233 ↗ |