Atlas Lithium (ATLX) insider files Form 144 to sell 50,000 shares

Rhea-AI Filing Summary

Atlas Lithium Corp (ATLX) filed a Form 144 disclosing a proposed sale of common stock by an insider. The notice lists a broker, Wilson Davis in Salt Lake City, and reports 50,000 shares to be sold on or about 09/24/2025 with an aggregate market value of $238,000 against 21,041,095 shares outstanding. The securities were acquired on 12/22/2022 as payment for director services from Atlas Lithium, with 330,201 shares received at that time. The filer certifies no undisclosed material information and reports no sales in the past three months.

Positive

• Timely regulatory disclosure of an insider's proposed sale under Rule 144
• Clear acquisition history showing shares were issued as director compensation on 12/22/2022
• No sales in the past three months reported for the selling person

Negative

• Insider intends to sell 50,000 common shares (aggregate value $238,000), which could increase available float
• Director-issued shares are being liquidated rather than held, which some investors may view as a negative signal

Insights

Securities Analyst

TL;DR: Routine insider sale notice of 50,000 shares valued at $238,000; no recent sales reported.

The Form 144 provides a straightforward notice of a proposed Rule 144 sale by a person who received 330,201 common shares as director compensation on 12/22/2022. The planned disposition of 50,000 shares represents a small percentage of the 21,041,095 shares outstanding (~0.24%). The filing identifies the executing broker and an approximate sale date of 09/24/2025. There are no disclosures of prior sales in the past three months and the signer affirms no undisclosed material information. This is a routine compliance filing that allows public markets to track potential insider liquidity events.

Corporate Governance Expert

TL;DR: Governance disclosure completed; sale stems from director compensation rather than market purchase.

The document shows the shares to be sold were originally issued as director compensation, which is material for governance context because it ties insider holdings to service-based issuance. The filer follows Rule 144 notification requirements by stating acquisition details, payment nature, and planned sale timing. The absence of reported sales in the prior three months reduces concerns about a pattern of recent insider dispositions. The filing itself neither signals wrongdoing nor provides additional corporate-level governance changes.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Wilson Davis 236 South Main Street SALT LAKE CITY, UT 84101	50000	238000.00	21041095	09/24/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	12/22/2022	Payment For Services As A Director	Atlas Lithium			330201	12/22/2022	Service As A Director

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Atlas Lithium Corp's (ATLX) Form 144 disclose?

The Form 144 discloses a proposed sale of 50,000 common shares valued at $238,000, to be sold around 09/24/2025 via broker Wilson Davis.

Who acquired the shares being sold and how were they acquired?

The shares were acquired on 12/22/2022 as payment for services as a director from Atlas Lithium; the filer received 330,201 shares on that date.

How many Atlas Lithium shares are outstanding according to the filing?

The filing reports 21,041,095 shares outstanding.

Were there any sales by this person in the past three months?

The filing states Nothing to Report for securities sold during the past three months.

Which broker is listed to execute the proposed sale?

The broker named is Wilson Davis, with an address in Salt Lake City, UT.