v3.25.4
COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]      
SCHEDULE OF INVENTORIES

Inventories as of June 30, 2025, and December 31, 2024, are comprised of the following:

 

   2025   2024 
   June 30,   December 31, 
   2025   2024 
Quartzite unprocessed blocks   -    116,143 
Quartzite processed slabs   49,805    55,583 
Total   49,805    171,726 

Inventories are composed of quartzite blocks and slabs generated by the cut and polishing process of the blocks. Both products are actively sold in the market, therefore considered finished products:

 

SCHEDULE OF INVENTORIES

   2024   2023   2022 
   December 31 
   2024   2023   2022 
Quartzite unprocessed blocks   116,143    -    - 
Quartzite processed slabs   55,583    -    - 
Total   171,726    -    - 
  
SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES

The following table sets forth the components of the Company’s property and equipment as of June 30, 2025 and December 31, 2024:

 

   June 30, 2025   December 31, 2024 
       Accumulated   Net Book       Accumulated   Net Book 
   Cost   Depreciation   Value   Cost   Depreciation   Value 
Capital assets subject to depreciation:                              
Computers and office equipment   6,505    (651)   5,854    5,733    -    5,733 
Machinery and equipment   469,922    (7,507)   462,415    452,205    (41)   452,165 
Mineral Rights   1,413,042    -    1,413,042    1,245,274    -    1,245,274 
Land   20,418    -    20,418                
Facilities   16,463    (1,040)   15,423    14,508    (191)   14,316 
Vehicles   -    -    -    -    -    - 
Total fixed assets  $1,926,350    (9,198)   1,917,152    1,717,720    (232)   1,717,488 

 

 

Related Party Receivables/Payables

 

As of June 30, 2025, there are $762,679 ($872,942 as of December 31, 2024) of relating parties outstanding balances, represented by $751,015 ($851,678 in 2024) of intercompany loans received from Atlas Lithium (which include the impact of interest accrued for of $22,837 and $10,918 as of December 31, 2024) and $11,665 payable to Atlas Lítio do Brasil Ltda (“ALB”) as a result of a cost sharing agreement through which the Company borrows resources from ALB mainly for Geology-related work ($21,264 as of December 31, 2024).

 

Additionally, the Company advanced an amount of $12,800 to its CEO, which will be offset against amounts receivable by the CEO in 2025. The amounts are classified as Other current assets in the balance sheet.

 

Accounts Payable and Accrued Expenses

 

 

   June 30, 2025   December 31, 2024 
Trade payables  $323,386    305,638 
Payroll and social charges  $44,200    26,220 
Taxes payable  $7,085    14,488 
Total  $374,671   $346,346 

The following table sets forth the components of the Company’s property and equipment as at December 31, 2024, 23 and 2022:

 

   December 31, 2024 
   Cost   Accumulated
Depreciation		   Net Book
Value		 
             
Computers and office equipment  $5,733    -   $5,733 
Machinery and equipment (1)  $452,205    (41)  $452,165 
Mineral rights (2)  $1,245,274    -   $1,245,274 
Facilities  $14,508    (191)  $14,316 
Vehicles  $-    -   $- 
Total fixed assets  $1,717,720    (232)  $1,717,488 

 

   December 31, 2023 
   Cost   Accumulated
Depreciation		   Net Book
Value		 
Computers and office equipment  $-          -   $- 
Machinery and equipment   320,700    -    320,700 
Vehicles   -    -    - 
Total fixed assets  $320,700    -    320,700 

 

   December 31, 2022 
   Cost   Accumulated
Depreciation		   Net Book
Value		 
             
Computers and office equipment  $2,192    (2,192)  $- 
Machinery and equipment   118,855    (76,926)   41,929 
Vehicles   42,507    (42,507)   - 
Total fixed assets  $163,554   $(121,625)  $41,929 

 

For the years ended December 31, 2024, 2023 and 2022, the Company recorded depreciation expense of $206, $nil and $12,997, respectively.

 

(1)In 2024, the Company acquired an excavator to be used in our quartzite operations for a total consideration of R$810,000 ($133,424 at the date of the transaction). In 2023, the Company acquired a gold processing plant from Atlas Lithium at a total price of $320,700. Total paid for the plant acquisition was composed of 26,725 shares issued by the Company at $12.00 each.
(2)The mineral rights addition in 2024 correspond to the impacts of the merger of the Company and Apollo. Mineral rights are held by the new subsidiary MAL.
  
SCHEDULE OF OTHER EXPENSES  

SCHEDULE OF OTHER EXPENSES 

   December 31,   Foreign currency   Impairment   December 31, 
   2022   translation   losses   2023 
Property and equipment, net   41,929    2,358    (44,287)   - 
Intangibles, net   11,499    750    (12,249)   - 
    53,428    3,108    (56,536)   - 
  
SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES

 

   June 30, 2025   December 31, 2024 
Trade payables  $323,386    305,638 
Payroll and social charges  $44,200    26,220 
Taxes payable  $7,085    14,488 
Total  $374,671   $346,346 
    
Apollo Resources Corporation [Member]      
Restructuring Cost and Reserve [Line Items]      
SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES    

The following table sets forth the components of the Company’s Property Plant and Equipment as at December 31, 2023 and 2022:

SCHEDULE OF PROPERTY AND EQUIPMENT 

   December 31, 2023 
   Cost   Accumulated
Amortization		   Net Book
Value		 
Machinery and equipment  $-    -   $- 
Mineral rights  $1,059,862    -   $1,059,862 
Total Property Plant and Equipment  $1,059,862           -   $1,059,862 

 

 

   December 31, 2022 
   Cost   Accumulated
Amortization		   Net Book
Value		 
Machinery and equipment  $4,063   $2,589   $1,474 
Mineral rights  $1,050,272    -   $1,050,272 
Total Property Plant and Equipment  $1,054,335   $2,589   $1,051,746