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Item 4. Controls and Procedures

2023-08-14 compared with 2023-05-15 · 56 added, 44 removed, 29 unchanged (78% of the section changed)

1 unchanged sentence

Evaluation of Disclosure Controls and Procedures

Our management, with the participation of our Principal Executive Officer and Principal Financial Officer,

has evaluated the design, operation, and effectiveness of our disclosure controls and procedures, as defined in Rules

13a-15(e) and 15d-15(e) of the Exchange Act as of the end of the period covered by this Quarterly Report on Form 10-Q.

that evaluation, our Principal Executive Officer and Principal Financial Officer concluded that as of March 31, 2023, our disclosure

controls and procedures were effective at a reasonable assurance level.

management, with the participation of our Principal Executive Officer and Principal Financial Officer, has evaluated the design,

operation, and effectiveness of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) of the

Securities Exchange Act of 1934, as amended (the “Exchange Act”) as of the end of the period covered by this Quarterly

Report on Form 10-Q.

Based on that evaluation, our Principal Executive Officer and Principal Financial Officer concluded that as of

June 30, 2023, our disclosure controls and procedures were effective at a reasonable assurance level.

Changes in Internal Control over Financial Reporting

were no changes in our internal control over financial reporting that occurred in the quarter ended March 31, 2023, that materially affected,

were no changes in our internal control over financial reporting that occurred in the quarter ended June 30, 2023, that materially affected,

or would be reasonably likely to materially affect, our internal control over financial reporting.

Limitations of the Effectiveness of Controls and Procedures

In designing and evaluating the disclosure controls and procedures and internal control over financial reporting,

management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance

that the information required to be disclosed in reports filed

or submitted pursuant to the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the rules

and forms of the Commission, and that such information is accumulated and communicated to management, including its Principal Executive

Officer and Principal Financial Officer as appropriate, to allow timely decisions regarding required disclosure.

In addition, the design

of disclosure controls and procedures and internal control over financial reporting must reflect the fact that there are resource constrains and

that management is required to apply judgement in evaluating the benefits of possible controls and procedures relative to their

designing and evaluating the disclosure controls and procedures and internal control over financial reporting, management recognizes

that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance that the information

required to be disclosed in reports filed or submitted pursuant to the Exchange Act is recorded, processed, summarized, and reported

within the time periods specified in the rules and forms of the Commission, and that such information is accumulated and communicated

to management, including its Principal Executive Officer and Principal Financial Officer as appropriate, to allow timely decisions regarding

required disclosure.

In addition, the design of disclosure controls and procedures and internal control over financial reporting must

reflect the fact that there are resource constrains and that management is required to apply judgement in evaluating the benefits of

possible controls and procedures relative to their costs.

II OTHER INFORMATION

1 unchanged sentence

Quarterly Report contains forward-looking statements.

We intend such forward-looking statements

to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as

amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

statements other than statements of historical fact contained in this Quarterly Report are forward-looking statements, including without

limitation, statements regarding current expectations, as of the date of this Quarterly Report, our

future results of operations and financial position, our ability to effectively process our minerals and achieve commercial

grade at scale;

risks and hazards inherent in the mining business (including risks inherent

in exploring, developing, constructing and operating mining projects, environmental hazards, industrial accidents, weather or geologically

related conditions);

our ability to derive any financial success from the Memorandum of Understanding entered into with Mitsui &

intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section

27A of the Securities Act and Section 21E of the Exchange Act.

A ll statements other than

statements of historical fact contained in this Quarterly Report are forward-looking statements, including without limitation, statements

regarding current expectations, as of the date of this Quarterly Report, our future results

of operations and financial position, our ability to effectively process our minerals and achieve commercial grade at scale;

and hazards inherent in the mining business (including risks inherent in exploring, developing, constructing and operating mining projects,

environmental hazards, industrial accidents, weather or geologically related conditions);

our ability to derive any financial success

from the Memorandum of Understanding entered into with Mitsui & Co., Ltd.

in December 2022;

uncertainty about our ability to obtain required capital to execute our business plan;

our ability to hire

and retain required personnel;

changes in the market prices of lithium and lithium products and demand for such products;

the uncertainties

inherent in exploratory, developmental and production activities, including risks relating to permitting, zoning and regulatory delays

related to our projects;

uncertainties inherent in the estimation of lithium resources .

statements involve known and unknown risks, uncertainties and other important factors that may cause actual results,

performance, or achievements to differ materially from any future results, performance or achievement expressed or implied by these forward-looking

uncertainty about our ability to obtain

required capital to execute our business plan;

our ability to hire and retain required personnel;

changes in the market prices of lithium

and lithium products and demand for such products;

the uncertainties inherent in exploratory, developmental and production activities,

including risks relating to permitting, zoning and regulatory delays related to our projects;

and uncertainties inherent in the estimation

of lithium resources .

T hese statements involve known and unknown risks, uncertainties and

other important factors that may cause actual results, performance, or achievements to differ materially from any future results,

performance or achievement expressed or implied by these forward-looking statements.

some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,”

10 unchanged sentences

unusual or infrequent weather phenomena, sabotage, government or other

interference in the maintenance or provision of infrastructure as well as general economic conditions.

interference in the maintenance or provision of infrastructure as well as general economic conditions, geopolitical events;

availability of capital;

Atlas Lithium’s ability to maintain its competitive

manipulative attempts by short sellers to drive down our stock price;

and dependence on key management.

forward-looking statements in this Quarterly Report are only predictions.

We have based these forward-looking statements largely on our

current expectations and projections about future events and financial trends that we believe may affect our business, financial condition

and results of operations.

These forward-looking statements speak only as of the date of this Annual Report and are subject to a number

of important factors that could cause actual results to differ materially from those in the forward-looking statements, including the

factors described under the sections in this Quarterly Report titled “Risk Factors” and “Management’s Discussion

and Analysis of Financial Condition and Results of Operations” and other of our filings made with the SEC.

We have based these forward-looking statements largely on

our current expectations and projections about future events and financial trends that we believe may affect our business, financial

condition and results of operations.

These forward-looking statements speak only as of the date of this Quarterly Report and are

subject to a number of important factors that could cause actual results to differ materially from those in the forward-looking

statements, including the factors described under the section in this Quarterly Report titled “Risk Factors” and

“Management’s Discussion and Analysis of Financial Condition and Results of Operations” as well as factors

described under the section titled “Risk Factors” in each of our Quarterly Reports on Form 10-Q for the quarter ended

March 31,2023 and our Form 10-K for the fiscal year ended December 31, 2022 and other filings we make with the Commission.

Therefore, you

should not place undue reliance on these forward-looking statements.

should read this Quarterly Report and the documents that we reference in this Quarterly Report completely and with the understanding

5 unchanged sentences

LEGAL PROCEEDINGS

There have been no material changes to the Risk Factors described in Item

“Risk Factors” in our Quarterly Report in Form 10-Q for the quarter ending March 31, 2023

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 4. Controls and Procedures