Atlas Lithium restates 2022, 2023, Q1/Q2 2024 financials; prior auditor barred by SEC

Atlas Lithium Corp

Restatement covers FY2022, FY2023, Q1 2024, and Q2 2024; prior auditor BF Borgers permanently barred by SEC in May 2024.
FY2022 restatement includes excluding two entities controlled by controlling stockholder and derecognizing equity method investments with no future benefit.
FY2023 corrections: reclassifying mining rights from intangibles, adjusting stock-based compensation timing, and correcting operating lease accounting.
Q1 2024 restatement includes correction of weighted-average shares outstanding and net loss per share.
Material weakness identified in internal control over financial reporting; disclosure controls ineffective for all affected periods.

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