UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended ~~March 31~~September 30, 2011

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

For The Transition Period __________ To __________

ATLAS CAPITAL HOLDINGS, INC.

Nevada	333-144645	20-5549779
(State or Jurisdiction of	Commission File Number	(I.R.S. Employer
Incorporation or organization		Identification No.)
Incorporation or organization)		Identification No.)

(Name of small business issuer in its charter)

2234 N. Federal Highway, Suite 330

Boca Raton, Florida 33431

561-488-7624

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definition of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ¨ Accelerated file ¨ Non-accelerated filer ¨ Smaller reporting company x

Indicate by check mark whether the Registrant is a shell company (as defined in Rule a12b-2 of the Exchange Yes ¨ No x

Number of shares of Atlas Capital Holdings, Inc. common stock, $0.001 as of ~~March~~September 3130, 2011: 2741,~~974~~895,~~000~~ 883 exclusive of treasury shares.

TABLE OF CONTENTS

		~~Page~~	Page
		~~Number~~	Number
PART 1:	~~FINANCIAL INFORMATION~~	FINANCIAL INFORMATION
Item 1.	~~Financial Statements~~	Financial Statements	3
	Balance sheets at March 31, 2011 (unaudited) and June 30, 2010	3
		Balance sheets at September 30, 2011 (unaudited) and September 30, 2010	3
	Statements of Operations for the three and nine month periods ended March 31, 2011 and 2010 and September 13, 2006 (Inception) to March 31, 2011 (unaudited)	4
		Statements of Operations for the three and nine month periods ended September 30, 2011 and 2010 and September 13, 2006 (Inception) to September 30, 2011 (unaudited)	4
	Statement of Changes in Stockholders' Equity from September 13, 2006 (Inception) to March 31, 2011	5
		Statement of Changes in Stockholders' Equity from September 13, 2006 (Inception) to September 30, 2011	5
	Statement of Cash Flows for the month periods ended March 31, 2011 and 2010 and September 13, 2010 (Inception) to March 31, 2011 (unaudited)	6
		Statement of Cash Flows for the month periods ended September 30, 2011 and 2010 and September 13, 2010 (Inception) to September 30, 2011 (unaudited)	6
	~~Notes to the Financial Statements~~	7Notes to the Financial Statements	7
Item 2.	~~Managements's Discussion and Analysis of Financial Condition and Results of Opeations~~	18Managements's Discussion and Analysis of Financial Condition and Results of Opeations	19
Item 3.	~~Quantitative and Qualitative Disclosures About Market Risk~~	23Quantitative and Qualitative Disclosures About Market Risk	22
Item 4.	~~Controls and Procedures~~	23Controls and Procedures	22
Part II:	~~OTHER INFORMATION~~	OTHER INFORMATION
Item 1.	~~Legal Proceedings~~	23Legal Proceedings	22
Item 2.	~~Unregistered Sales of Equity Securities and Use of Proceeds~~	24Unregistered Sales of Equity Securities and Use of Proceeds	23
Item 3.	~~Defaults Upon Senior Securities~~	25Defaults Upon Senior Securities	24
Item 4.	~~Submission of Matters to a Vote of Security Holders~~	25Submission of Matters to a Vote of Security Holders	24
Item 5.	~~Other Information~~	25Other Information	24
Item 6.	~~Exhibits and Reports on Form 8-K~~	25Exhibits and Reports on Form 8-K	24
SIGNATURES			25

PART 1 - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

ATLAS CAPITAL HOLDINGS, INC.

(A Development Stage Company)

CONSOLIDATED BALANCE SHEETS

	March 31,			June 30,
	September 30,			June 30,
	2011			2010
	(Unaudited)
ASSETS
Current assets:
Cash	$	~~313,~~250		$	-250
Total current assets		313,250			-
Cash - restricted		313,250			313,250
Total Assets		313,250			-
Total current assets		313,500			313,500
Total Assets		313,500			313,500
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Deferred revenue	$	100,000		$	-100,000
Loan from shareholder		1,800			800
Accrued expenses		3,500
Total current liabilities		101,800			800
Loan from shareholder		1,800			1,800
Total current liabilities		105,300			101,800
Stockholders' equity:
Common stock, $.0001 par value, authorized 100,000,000
Common stock, $.0001 par value, authorized 100,000,000 shares; 21,724,000 and 17,434,000 issued and outstanding as of June 30, 2011 and June 30, 2010, respectively		2,172			2,172
shares; 21,724,000 and 17,434,000 issued and outstanding as of
Additional paid-in capital		403,938			(194,410	)
March 31, 2011 and September 30, 2010 and June 30, 2010, respectively		2,172			1,743
Accumulated deficit during development stage		(197,910	)		-
Additional paid-in capital		397,596			183,525
Total stockholders' equity		208,200			(192,238	)
Accumulated deficit during development stage		(188,318	)		(186,068	)
Total liabilities and stockholders' equity	$	313,500		$	(90,438	)
Total stockholders' equity		211,450			(800	)
Total liabilities and stockholders' equity	$	313,250		$	-

The accompanying ~~footnotes~~notes are an ~~integral~~integal part of these financial statements.

ATLAS CAPTIAL HOLDINGS, INC.

(A Development Stage Company)

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

						For the Period
	For the Three Months Ended					September 13, 2006
	September 30,					(Inception) to
	2011			2010		September 30, 2011
	(Unaudited)			(Unaudited)

Revenue	$	-		$	-	$	36,000

Expenses:

General and administrative		3,500			-		233,910

Total expenses		(3,500	)		-		233,910

Net income (loss)	$	(3,500	)	$	-	$	(197,910	)

Weighted average number of common shares outstanding, basic and fully diluted		21,724,000			17,434,000

Net loss per weighted share basic and fully diluted	$	(0.00	)	$	-

													For the Period
	Three Months Ended						Nine Months Ended						September 13, 2006
	March 31,						March 31,						(Inception) to
	2011			2010			2011			2010			March 31, 2011
Revenue	$	-		$	-		$	-		$	4,000		$	36,000
Expenses:
General and administrative		1,250			800			2,250			5,389			224,318
Total expenses		1,250			800			(2,250	)		(1,389	)		224,318
Net income (loss)	$	(1,250	)	$	(800	)	$	(2,250	)	$	(1,389	)	$	(188,318	)
Weighted average number of common shares outstanding, basic and fully diluted		18,864,000			15,296,222			17,903,708			11,762,467
Net loss per weighted share basic and fully diluted	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)

The accompanying notes are an integral part of the financial statements.

~~The accompanying footnotes are an integral part of these financial statements.~~4

4ATLAS CAPITAL HOLDINGS, INC. (A Development Stage Company) CONSOLIDATED STATEMENTS OF CASH FLOWS

ATLAS CAPITAL HOLDINGS, INC.

						For the Period
						September 30, 2006
	Three Month Ended					(Inception) to
	September 30,					September 30,
	2011			2010		2011
	(Unaudited)			(Unaudited)
Cash flows from operating activities:

Net loss	$	(3,500	)	$	-	$	-197,910

Adjustments to reconcile net loss to net cash: used for operating activities:
Stock based compensation		-			-		170,650
Increase (decrease) in customer deposits		-			-		-
Increase(decrease) in accrued liabilities		3,500			-		4,500
Increase (decrease) in deferred revenue		-			-		100,000
							-
Net cash used in operating activities		-			-		77,240

Cash flows from investing activities:

(Increase) decrease in restricted cash		-			-		-313,250
Net cash used in investing activities		-			-		-313,250

Cash flows from financing activities:

Issuance of common stock		-			-		221,200
Proceeds from shareholder loan		-			-		800
Contribution to paid in capital		-			-		14,260

Net cash provided by financing activities		-			-		236,260

Net increase (decrease) in cash		-			-		250
Cash, beginning of period		250			-		-

Cash, end of period	$	250		$	-	$	250

Supplemental disclosures of non-cash investing and financing activities:

Issuance of 7,400,000 shares of common stock on basis of two for one shares held by shareholders of Atlas Capital Partners, LLC ("Atlas") in connection with a merger of the Company and Atlas	$	-		$	-	$	740

Shareholder loan converted to paid-in capital	$	-		$	-	$	2,314

Issuance of 3,400,000 shares of common stock for consulting services	$	-		$	-	$	170,000

Issuance of 6,500,000 shares of common stock for compensation to founding shareholder	$	-		$	-	$	650

(AThe ~~Development~~accompanying ~~Stage~~notes ~~Company)~~are an integral part of the financial statements.

~~STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY~~5

ATLAS CAPITAL HOLDINGS, INC. (A Development Stage Company) CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited)

								Accumulated
					Additional			Deficit During			Total
	Common Stock				Paid-in			Developmental			Stockholders'
	Shares		Amount		Capital			Stage			Equity
Balance, June 30, 2008		10,034,000	$	1,003	$	176,347		$	(178,516	)	$	(1,166)	)
Net loss for year ended June 30, 2009		-		-		-			(6,163	)	$	(6,163)	)
		-		-		-
Balance, June 30, 2009		10,034,000		1,003		176,347			(184,679	)		(7,329)
Balance, June 30, 2009		10,034,000		1,003		176,347			(184,679	)		(7,329	)
Shareholder contribution						5,604						5,604
Shareholder contribution						5,604						5,604
Shareholder loan converted to paid-in capital						2,314						2,314
Shareholder loan converted to paid-in capital						2,314						2,314
Shares issued in connection with merger with Atlas Capital Partners, LLC		7,400,000		740		(740	)					-
Shares issued in connection with merger with Atlas Capital Partners, LLC		7,400,000		740		(740	)					-
Net loss for the year ended June 30, 2010		-		-		-			(1,389	)		(1,389)
Net loss for the year ended June 30, 2010		-		-		-			(1,389	)		(1,389	)
Balance, June 30, 2010		17,434,000		1,743		183,525			(186,068	)		(800)
Balance, June 30, 2010		17,434,000		1,743		183,525			(186,068	)		(800	)
Shares sold for cash		4,290,000		429		214,071						214,500
Shares sold for cash		4,290,000		429		214,071						214,500
Shareholder contribution						6,342						6,342
Net loss for nine months ended March 31, 2011									(2,250	)		(2,250	)
Net loss for the year ended June 30, 2011									(8,342	)		(8,342)
Balance, March 31, 2011		21,724,000	$	2,172	$	397,596		$	(188,318	)	$	211,450
Balance, June 30, 2011		21,724,000	$	2,172	$	403,938		$	(194,410	)	$	211,700
Net loss									(3,500	)		(3,500)
Balance, September 30, 2011		21,724,000	$	2,172	$	403,938		$	(197,910	)	$	208,200

~~The accompanying footnotes are an integral part of these financial statements.~~6

5The accompanying notes are an integral part of the financial statements.

ATLAS CAPITAL HOLDINGS, INC.

(A ~~Development~~DEVELOPMENTAL ~~Stage~~STAGE ~~Company~~COMPANY)

~~STATEMENTS~~ NOTES OFTO ~~CASH~~CONSOLITATED ~~FLOWS~~FINANCIAL STATEMENTS

~~(Unaudited)~~Note 1 – Organization and summary of significant accounting principles

							For the Period
							September 30, 2006
	Nine Months Ended						(Inception) to
	March 31,						March 31
	2011			2010			2011
Cash flows from operating activities:
Net loss	$	(2,250	)	$	(1,389	)	$	(188,318	)
Adjustments to reconcile net loss to net cash:
used for operating activities:
Stock based compensation		-			-			170,650
Increase (decrease) in customer deposits		-			(1,000	)		-
Increase(decrease) in accrued liabilities		1,000			(4,500	)		1,000
Increase (decrease) in deferred revenue		100,000						100,000
								-
Net cash used in operating activities		98,750			(6,889	)		83,332
Cash flows from financing activities:
Issuance of common stock		214,500			-			221,200
Proceeds from shareholder loan		-			800			800
Contribution to paid in capital		-			5,604			7,918
Net cash provided by financing activities		214,500			6,404			229,918
Net increase (decrease) in cash		313,250			(485	)		313,250
Cash, beginning of period		-			485			-
Cash, end of period	$	313,250		$	-		$	313,250
Supplemental disclosures of non-cash investing
and financing activities:
Issuance of 7,400,000 shares of common stock on
basis of two for one shares held by shareholders
of Atlas Capital Partners, LLC ("Atlas") in
connection with a merger of the Company and Atlas	$	-					$	740
Shareholder loan converted to paid-in capital	$	-		$	2,314		$	2,314
Issuance of 3,400,000 shares of common stock for consulting services	$	-		$	-		$	170,000
Issuance of 6,500,000 shares of common stock for
compensation to founding shareholder	$	-		$	-		$	650

Basis of Presentation

We are providing herein the interim statements of financial condition of Atlas Capital Holdings, Inc. and its subsidiary AlgaeTek Systems, Inc. (collectively the “Company”) as of September 30, 2011, and the related interim statements of operations and cash flows for the three months ended September 30, 2011 and 2010, and the interim statements of changes in stockholders equity for the three months ended September 30, 2011 and 2010. The interim ~~accompanying~~financial ~~footnotes~~statements ~~are~~presented anherein ~~integral~~have ~~part~~been prepared pursuant to the rules and regulations of ~~these~~the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in the financial statements prepared in accordance with account principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. The interim financial statements should be read in conjunction with the Company’s financial statements and related notes contained in the Company’s Annual Report on Form 10-K for the year ended June 30, 2011 and filed with the SEC on October 12, 2012.

6The information furnished in this report reflects all adjustments consisting of only normal recurring adjustments, which are in the opinion of management necessary for a fair presentation of results for the interim periods. The results of operations for the three months ended September 30, 2011 are not necessarily indicative of results that may be expected for the fiscal year ending June 30, 2012.

~~ATLAS CAPITAL HOLDINGS, INC.~~ Organization

Atlas Capital Holdings, Inc. (A“Atlas” ~~DEVELOPMENTAL~~or ~~STAGE~~the ~~COMPANY~~“Company’) was organized September 13, 2006 (Date of Inception) under the laws of the State of Nevada. The Company has not commenced significant operations and, in accordance with Financial Accounting Standard Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 915, “Development Stage Entity,” the Company is considered a development stage company.

~~NOTES~~Atlas TOassists ~~THE~~small ~~FINANCIAL~~to ~~STATEMENTS~~medium-sized enterprises (“SMEs”) with overcoming their impediments to growth, by providing SMEs high caliber business and financial expertise as well as the capital to begin their path to growth.

~~Note~~The 1Company –operated ~~Organization~~under ~~and~~the ~~summary~~name of ~~significant~~Micro ~~accounting~~Mammoth ~~principles~~Solutions, Inc. from date of Inception through January 25, 2010.

~~Organization~~On March 1, 2011 the Company entered into a Joint Venture Agreement (“JVA”) with Clean Energy Pathways, Inc. (“CEP”). Under the JVA, the Company agreed to become the marketing and financing operation for CEP and CEP agreed to pay $100,000 to the Company as an engagement fee under the JVA. On May 10, 2011, the Company entered into an Agreement and Plan of Merger (“Merger Agreement”) with CEP. The Company terminated the Merger Agreement with CEP on July 15, 2011 and the JVA on October 7, 2011.

Atlas Capital Holdings, Inc. (“Atlas” or the “Company’) was organized September 13, 2006 (Date of Inception) under the laws of the State of Nevada. The Company has not commenced significant operations and, in accordance with Financial Accounting Standard Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 915, “Development Stage Entity,” the Company is considered a development stage company.7

~~Atlas~~ATLAS ~~assists~~CAPITAL ~~small to medium-sized enterprises (“SMEs”) with overcoming their impediments to growth~~HOLDINGS, ~~by providing SMEs high caliber business and financial expertise as well as the capital to begin their path to growth~~INC.

~~The~~(A ~~Company~~DEVELOPMENTAL ~~operated~~STAGE ~~under the name of Micro Mammoth Solutions, Inc. from date of Inception through January 25, 2010.~~ COMPANY)

OnNOTES ~~March~~TO 1,CONSOLIDATED ~~2011~~FINANCIAL the Company entered into a Joint Venture Agreement (“JVA”) with Clean Energy Pathways, Inc. (“CEP”). Under the JVA, the Company agreed to become the marketing and financing operation for CEP and CEP agreed to pay $100,000 to the Company as an engagement fee under the JVA. STATEMENTS

AsNote ~~of March~~ 1, ~~2011~~– ~~the~~Organization ~~Company’s main business involves working closely with CEP to market~~ and ~~develop~~summary ~~financial~~of ~~interest~~significant ~~for~~accounting principles ~~solar project developments that are sponsored by CEP. The Company serves as the marketing and interest building and investment arm for each project.~~(continued)

~~Accounting period~~Organization

~~The~~On September 14, 2011, the Company ~~has~~formed ~~adopted~~AlgaeTek anSystems, ~~annual~~Inc. The entity ~~accounting~~was ~~period~~incorporated in the State of ~~July~~Florida ~~through~~and ~~June~~is a wholly-owned subsidiary of Atlas Capital Holdings, Inc. AlgaeTek Systems, Inc. was formed for the purpose of producing and selling algae and algae by-products.

~~Use~~On September 15, 2011 our wholly-owned subsidiary, AlgaeTek Systems, Inc. signed a License and Commercialization agreement with Algae Farm, Inc. The agreement gives AlgaeTek Systems the right to use Algae Farm's intellectual property surrounding algae production for the entire life of ~~estimates~~its patents and trademarks. In addition, AlgaeTek will have the exclusive use of the intellectual property in six states including Florida, Alabama, Mississippi, South Carolina, North Carolina and Georgia. Algae Farm will also assist with the development of the production facility and with the commercialization of the algae produced.

~~The~~Accounting preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period~~. Actual results could differ significantly from those estimates.~~

7The Company has adopted an annual accounting period of July through June.

~~ATLAS~~ Use ~~CAPITAL~~of ~~HOLDINGS, INC.~~estimates

(AThe ~~DEVELOPMENTAL~~preparation ~~STAGE~~of ~~COMPANY)~~financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ significantly from those estimates.

~~NOTES~~Cash TOand ~~THE~~cash ~~FINANCIAL STATEMENTS~~equivalents

~~Note~~For 1the –purpose ~~Organization~~of ~~and~~the ~~summary~~statements of ~~significant~~cash ~~accounting~~flows, ~~principles~~all ~~(continued)~~highly liquid investments with a maturity of three months or less are considered to be cash equivalents.

~~Cash~~Revenue ~~and cash equivalents~~recognition

~~For~~Revenue ~~the~~is ~~purpose~~recognized ofon ~~the~~an ~~statements~~accrual basis ofafter ~~cash~~services ~~flows,~~have ~~all~~been ~~highly~~performed ~~liquid~~under ~~investments~~contract ~~with~~terms, athe ~~maturity~~service ofprice ~~three~~to ~~months~~the orclient ~~less~~is ~~are~~fixed ~~considered~~or todeterminable, beand ~~cash~~collectability is ~~equivalents~~reasonably assured.

~~Revenue recognition~~8

~~Revenue~~ATLAS isCAPITAL ~~recognized on an accrual basis after services have been performed under contract terms~~HOLDINGS, ~~the service price to the client is fixed or determinable, and collectability is reasonably assured~~INC.

~~Furniture~~(A ~~and~~DEVELOPMENTAL ~~equipment~~STAGE COMPANY)

~~Furniture~~NOTES ~~and~~TO ~~equipment~~CONSOLIDATED ~~are~~FINANCIAL stated at cost less accumulated depreciation. It is the policy of the Company to capitalize items greater than or equal to $1,000. Depreciation is computed using the straight-line method over the expected useful lives of the assets. Upon retirement or other disposition of depreciable assets, the cost and related accumulated depreciation are eliminated from the accounts, and any gain or loss on disposal is credited to or charged against income.STATEMENTS

~~Fair~~Note ~~value~~1 – Organization and summary of ~~financial~~significant ~~instruments~~accounting principles (continued)

~~The~~Furniture ~~fair values of the Company’s assets~~ and liabilities that qualify as financial instruments under FASB ASC Topic 825, “Financial Instruments,” approximate their carrying amounts presented in the accompanying balance sheet at March 31, 2011 and June 30, 2010. equipment

~~Loss~~Furniture ~~per~~and ~~share~~equipment are stated at cost less accumulated depreciation. It is the policy of the Company to capitalize items greater than or equal to $1,000. Depreciation is computed using the straight-line method over the expected useful lives of the assets. Upon retirement or other disposition of depreciable assets, the cost and related accumulated depreciation are eliminated from the accounts, and any gain or loss on disposal is credited to or charged against income.

~~The~~Fair ~~Company~~value ~~complies with the accounting and disclosure requirements~~ of ~~FASB~~financial ASC 260, “Earnings Per Share.” Basic loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted loss per common share incorporates the dilutive effect of common stock equivalents on an average basis during the period. instruments

8The fair values of the Company’s assets and liabilities that qualify as financial instruments under FASB ASC Topic 825, “Financial Instruments,” approximate their carrying amounts presented in the accompanying balance sheet at September 30, 2011.

~~ATLAS~~Loss ~~CAPITAL~~per ~~HOLDINGS, INC.~~share

(AThe ~~DEVELOPMENTAL~~Company ~~STAGE~~complies ~~COMPANY)~~with the accounting and disclosure requirements of FASB ASC 260, “Earnings Per Share.” Basic loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted loss per common share incorporates the dilutive effect of common stock equivalents on an average basis during the period.

~~NOTES~~Income ~~TO THE FINANCIAL STATEMENTS~~Taxes

~~Note~~The 1Company –accounts ~~Organization~~for income taxes in accordance with FASB ASC Topic 740 “Income Taxes,” which requires accounting for deferred income taxes under the asset and ~~summary~~liability method. Deferred income tax asset and liabilities are computed for difference between the financial statement and tax bases of ~~significant~~assets ~~accounting~~and ~~principles~~liabilities that ~~(continued)~~will result in taxable or deductible amounts in the future based on the enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce the deferred income tax assets to the amount expected to be realized.

~~Income Taxes~~9

~~The~~ATLAS ~~Company~~CAPITAL ~~accounts for income taxes in accordance with FASB ASC Topic 740 “Income Taxes~~HOLDINGS,” ~~which requires accounting for deferred income taxes under the asset and liability method~~INC. Deferred income tax asset and liabilities are computed for difference between the financial statement and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future based on the enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce the deferred income tax assets to the amount expected to be realized.

In(A ~~accordance~~DEVELOPMENTAL ~~with~~STAGE GAAP, the Company is required to determine whether a tax position of the Company is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any related appeals or litigation processes, based on the technical merits of the position. The Company files an income tax return in the U.S. federal jurisdiction, and may file income tax returns in various U.S. state and local jurisdictions. The tax benefit to be recognized is measured as the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. De-recognition of a tax benefit previously recognized could result in the Company recording a tax liability that would reduce net assets. This policy also provides guidance on thresholds, measurement, de-recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition that is intended to provide better financial statement comparability among different entities. It must be applied to all existing tax positions upon initial adoption and the cumulative effect, if any, is to be reported as an adjustment to stockholder’s equity as of July 1, 2009.COMPANY)

~~Based~~NOTES onTO ~~its~~CONSOLIDATED ~~analysis,~~FINANCIAL the Company has determined that the adoption of this policy did not have a material impact on the Company’s financial statements upon adoption. However, management’s conclusions regarding this policy may be subject to review and adjustment at a later date based on factors including, but not limited to, on-going analyses of and changes to tax laws, regulations and interpretations thereof.STATEMENTS

~~Interest~~Note ~~and~~1 ~~Penalty~~– ~~Recognition~~Organization onand ~~Unrecognized~~summary ~~Tax~~of ~~Benefits~~significant accounting principles (continued)

~~The~~Income ~~Company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses.~~Taxes

9In accordance with GAAP, the Company is required to determine whether a tax position of the Company is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any related appeals or litigation processes, based on the technical merits of the position. The Company files an income tax return in the U.S. federal jurisdiction, and may file income tax returns in various U.S. state and local jurisdictions. The tax benefit to be recognized is measured as the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. De-recognition of a tax benefit previously recognized could result in the Company recording a tax liability that would reduce net assets. This policy also provides guidance on thresholds, measurement, de-recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition that is intended to provide better financial statement comparability among different entities. It must be applied to all existing tax positions upon initial adoption and the cumulative effect, if any, is to be reported as an adjustment to stockholder’s equity as of July 1, 2009.

~~ATLAS~~Based ~~CAPITAL~~on ~~HOLDINGS~~its analysis, ~~INC~~the Company has determined that the adoption of this policy did not have a material impact on the Company’s financial statements upon adoption. However, management’s conclusions regarding this policy may be subject to review and adjustment at a later date based on factors including, but not limited to, on-going analyses of and changes to tax laws, regulations and interpretations thereof.

(AInterest ~~DEVELOPMENTAL~~and ~~STAGE~~Penalty ~~COMPANY)~~Recognition on Unrecognized Tax Benefits

~~NOTES~~The TOCompany ~~THE~~recognizes ~~FINANCIAL~~interest ~~STATEMENTS~~accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses.

~~Note~~Comprehensive ~~1 – Organization and summary of significant accounting principles (continued)~~Income

~~Comprehensive~~The Company complies with FASB ASC Topic 220, “Comprehensive Income,” which establishes rules for the reporting and display of comprehensive income (loss) and its components. FASB ASC Topic 220 requires the Company’ to reflect as a separate component of stockholders’ equity items of comprehensive income.

~~The~~Stock-Based Company complies with FASB ASC Topic 220, “Comprehensive Income,” which establishes rules for the reporting and display of comprehensive income (loss) and its components. FASB ASC Topic 220 requires the Company’ to reflect as a separate component of stockholders’ equity items of comprehensive income.Compensation

The Company complies with FASB ASC Topic 718 “Compensation – Stock~~-Based~~ Compensation,” which establishes standards for the accounting for transactions in which an entity exchanges its equity instruments for goods or services. It also addresses transactions in which an entity incurs liabilities in exchange for goods or services that are based on the fair value of the entity’s equity instruments or that may be settled by the issuance of those equity instruments. FASB ASC Topic 718 focuses primarily on accounting for transactions in which an entity obtains employee services in share-based payment transactions. FASB ASC Topic 718 requires an entity to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). That cost will be recognized over the period during which an employee is required to provide service in exchange for the award the requisite service period (usually the vesting period). No compensation costs are recognized for equity instruments for which employees do not render the requisite service. The grant-date fair value of employee share options and similar instruments will be estimated using option-pricing models adjusted for the unique characteristics of those instruments (unless observable market prices for the same or similar instruments are available). If an equity award is modified after the grant date, incremental compensation cost will be recognized in an amount equal to the excess of the fair value of the modified award over the fair value of the original award immediately before the modification.

The Company complies with FASB ASC Topic 718 “Compensation – Stock Compensation,” which establishes standards for the accounting for transactions in which an entity exchanges its equity instruments for goods or services. It also addresses transactions in which an entity incurs liabilities in exchange for goods or services that are based on the fair value of the entity’s equity instruments or that may be settled by the issuance of those equity instruments. FASB ASC Topic 718 focuses primarily on accounting for transactions in which an entity obtains employee services in share-based payment transactions. FASB ASC Topic 718 requires an entity to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). That cost will be recognized over the period during which an employee is required to provide service in exchange for the award the requisite service period (usually the vesting period). No compensation costs are recognized for equity instruments for which employees do not render the requisite service. The grant-date fair value of employee share options and similar instruments will be estimated using option-pricing models adjusted for the unique characteristics of those instruments (unless observable market prices for the same or similar instruments are available). If an equity award is modified after the grant date, incremental compensation cost will be recognized in an amount equal to the excess of the fair value of the modified award over the fair value of the original award immediately before the modification.10

~~Valuation~~ATLAS ofCAPITAL ~~Investments~~HOLDINGS, ~~in Securities at Fair Value—Definition and Hierarchy~~INC.

FASB ASC Topic 820 “Fair Value Measurements and Disclosures” provides a framework for measuring fair value under generally accepted accounting principles in the United States and requires expanded disclosures regarding fair value measurements. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (~~i.e.,~~A ~~the~~DEVELOPMENTAL ~~“exit~~STAGE ~~price”~~COMPANY) in an orderly transaction between market participants at the measurement date. In determining fair value, the Company uses various valuation approaches. In accordance with GAAP, a fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs reflect the Company’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. FASB ASC Topic 820 establishes a three-tiered fair value hierarchy that prioritizes inputs to valuation techniques used in fair value calculations, as follows:

10NOTES TO CONSOLIDAGTED FINANCIAL STATEMENTS

~~ATLAS~~Note ~~CAPITAL~~1 ~~HOLDINGS,~~– ~~INC.~~Organization and summary of significant accounting principles (continued)

(AValuation ~~DEVELOPMENTAL~~of ~~STAGE~~Investments ~~COMPANY)~~in Securities at Fair Value—Definition and Hierarchy

~~NOTES~~FASB TOASC ~~THE~~Topic ~~FINANCIAL~~820 ~~STATEMENTS~~“Fair Value Measurements and Disclosures” provides a framework for measuring fair value under generally accepted accounting principles in the United States and requires expanded disclosures regarding fair value measurements. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date.

~~Note~~In 1determining –fair ~~Organization~~value, the Company uses various valuation approaches. In accordance with GAAP, a fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and ~~summary~~minimizes the use of ~~significant~~unobservable ~~accounting~~inputs ~~principles~~by ~~(continued)~~requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs reflect the Company’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. FASB ASC Topic 820 establishes a three-tiered fair value hierarchy that prioritizes inputs to valuation techniques used in fair value calculations, as follows:

~~Valuation of Investments in Securities at Fair Value—Definition and Hierarchy (continued)~~11

~~Level~~ATLAS 1CAPITAL - Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not applied to Level 1 securities. Since valuations are based on quoted prices that are readily and regularly available in an active marketHOLDINGS, ~~valuation of these securities does not entail a significant degree of judgment~~INC.

~~Level~~(A 2DEVELOPMENTAL -STAGE ~~Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.~~COMPANY)

~~Level~~NOTES 3TO -CONSOLIDAGTED ~~Valuations~~FINANCIAL ~~based on inputs that are unobservable and significant to the overall fair value measurement.~~STATEMENTS

~~The~~Note ~~availability~~1 of– ~~valuation~~Organization ~~techniques~~ and ~~observable~~summary ~~inputs can vary from security to security and is affected by a wide variety~~ of ~~factors~~significant ~~including,~~accounting principles the type of security, whether the security is new and not yet established in the marketplace, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Those estimated values do not necessarily represent the amounts that may be ultimately realized due to the occurrence of future circumstances that cannot be reasonably determined.(continued)

~~Because~~Valuation of ~~the~~Investments inherent uncertainty of valuation, those estimated values may be materially higher or lower than the values that would have been used had a ready market for the securities existed. Accordingly, the degree of judgment exercised by the Company in ~~determining~~Securities ~~fair~~at ~~value~~Fair isValue—Definition and ~~greatest~~Hierarchy for securities categorized in Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement.(continued)

11Level 1 - Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not applied to Level 1 securities. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these securities does not entail a significant degree of judgment.

~~ATLAS~~Level ~~CAPITAL~~2 ~~HOLDINGS~~- Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, ~~INC~~either directly or indirectly.

(ALevel ~~DEVELOPMENTAL~~3 ~~STAGE~~- ~~COMPANY)~~Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

~~NOTES~~The TOavailability ~~THE~~of ~~FINANCIAL~~valuation ~~STATEMENTS~~techniques and observable inputs can vary from security to security and is affected by a wide variety of factors including, the type of security, whether the security is new and not yet established in the marketplace, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Those estimated values do not necessarily represent the amounts that may be ultimately realized due to the occurrence of future circumstances that cannot be reasonably determined.

~~Note~~Because 1of –the ~~Organization~~inherent ~~and~~uncertainty ~~summary~~of valuation, those estimated values may be materially higher or lower than the values that would have been used had a ready market for the securities existed. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for securities categorized in Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant ~~accounting~~to ~~principles~~the ~~(continued)~~fair value measurement.

~~Valuation of Investments in Securities at Fair Value—Definition and Hierarchy (continued)~~12

~~Fair~~ATLAS ~~value~~CAPITAL ~~is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore~~HOLDINGS, even when market assumptions are not readily available, the Company’s own assumptions are set to reflect those that market participants would use in pricing the asset or liability at the measurement dateINC. The Company uses prices and inputs that are current as of the measurement date, including periods of market dislocation. In periods of market dislocation, the observability of prices and inputs may be reduced for many securities. This condition could cause a security to be reclassified to a lower level within the fair value hierarchy.

~~Valuation~~(A ~~Techniques~~DEVELOPMENTAL STAGE COMPANY)

~~The~~NOTES ~~Company~~TO ~~values~~CONSOLIDATED ~~investments~~FINANCIAL ~~in securities that are freely tradable and are listed on a national securities exchange or reported on the NASDAQ national market at their last sales price as of the last business day of the year.~~STATEMENTS

~~Government~~Note ~~Bonds~~1 – Organization and summary of significant accounting principles (continued)

~~The~~Valuation ~~fair value~~ of ~~sovereign~~Investments ~~government bonds is generally based on quoted prices~~ in ~~active~~Securities ~~markets.~~at ~~When~~Fair ~~quoted prices are not available, fair value is determined based on a valuation model that uses inputs that include interest-rate yield curves, cross-currency-basis index spreads,~~ Value—Definition and ~~country~~Hierarchy ~~credit spreads similar to the bond in terms of issuer, maturity and seniority.~~(continued)

~~Certificate~~Fair value is a market-based measure considered from the perspective of ~~Deposits~~a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, the Company’s own assumptions are set to reflect those that market participants would use in pricing the asset or liability at the measurement date. The Company uses prices and inputs that are current as of the measurement date, including periods of market dislocation. In periods of market dislocation, the observability of prices and inputs may be reduced for many securities. This condition could cause a security to be reclassified to a lower level within the fair value hierarchy.

~~The~~Valuation ~~fair values of the bank certificate of deposits are based on the face value of the certificate of deposits.~~Techniques

~~Recently~~The ~~Adopted~~Company ~~Accounting~~values ~~Pronouncements~~investments in securities that are freely tradable and are listed on a national securities exchange or reported on the NASDAQ national market at their last sales price as of the last business day of the year.

InGovernment January 2010, the FASB issued Accounting Standards Update 2010-06, “Fair Value Measurements and Disclosures (Topic 820) - Improving Disclosures about Fair Value Measurements” (ASU 2010-06), to require new disclosures related to transfers into and out of Levels 1 and 2 of the fair value hierarchy and additional disclosure requirements related to Level 3 measurements. The guidance also clarifies existing fair value measurement disclosures about the level of disaggregation and about inputs and valuation techniques used to measure fair value. The additional disclosure requirements are effective for the first reporting period beginning after December 15, 2009, except for the additional disclosure requirements related to Level 3 measurements, which are effective for fiscal years beginning after December 15, 2010. The adoption of the additional requirements is not expected to have any financial impact on the Company’s consolidated financial statements.Bonds

12The fair value of sovereign government bonds is generally based on quoted prices in active markets. When quoted prices are not available, fair value is determined based on a valuation model that uses inputs that include interest-rate yield curves, cross-currency-basis index spreads, and country credit spreads similar to the bond in terms of issuer, maturity and seniority.

~~ATLAS~~Certificate ~~CAPITAL~~of ~~HOLDINGS, INC.~~Deposits

(AThe ~~DEVELOPMENTAL~~fair ~~STAGE~~values ~~COMPANY)~~of the bank certificate of deposits are based on the face value of the certificate of deposits

~~NOTES~~Recently TOAdopted ~~THE~~Accounting ~~FINANCIAL STATEMENTS~~Pronouncements

~~Note~~On 1June –16, ~~Organization~~2011, ~~and~~the ~~summary~~FASB ofissued ~~significant~~ASU ~~accounting~~No. ~~principles~~2011-05, “Presentation of Comprehensive Income (~~continued~~Topic 220),” which requires companies to report total net income, each component of comprehensive income, and total comprehensive income on the face of the income statement, or as two consecutive statements. The components of comprehensive income will not be changed, nor does the ASU affect how earnings per share is calculated or reported. These amendments will be reported retrospectively upon adoption. The adoption of the ASU will be required for the Company’s March 31, 2012 Form 10-Q filing, and is not expected to have a material impact on the Company.

~~Recently~~In ~~Adopted~~April ~~Accounting~~2010, ~~Pronouncements~~the FASB issued ASU No. 2010-13, “Compensation - Stock Compensation (~~continued~~Topic 718): Effect of Denominating the Exercise Price of a Share-Based Payment Award in the Currency of the Market in Which the Underlying Equity Security Trades ,” which addresses the classification of a share-based payment award with an exercise price denominated in the currency of a market in which the underlying equity security trades. Topic 718 is amended to clarify that a share-based payment award with an exercise price denominated in the currency of a market in which a substantial portion of the entity’s equity securities trades shall not be considered to contain a market, performance, or service condition. Therefore, such an award is not to be classified as a liability if it otherwise qualifies as equity classification. The amendments in this update should be applied by recording a cumulative-effect adjustment to the opening balance of retained earnings. The cumulative-effect adjustment should be calculated for all awards outstanding as of the beginning of the fiscal year in which the amendments are initially applied, as if the amendments had been applied consistently since the inception of the award. ASU No. 2010-13 is effective for interim and annual periods beginning on or after December 15, 2010 and is not expected to have a material impact on the Company’s consolidated financial position or results of operations. The Company adopted the pronouncement on January 1, 2011 resulting in no impact to the Company’s consolidated financial statements

~~In April 2010, the FASB issued ASU No. 2010-~~13, “Compensation - Stock Compensation (Topic 718): Effect of Denominating the Exercise Price of a Share-Based Payment Award in the Currency of the Market in Which the Underlying Equity Security Trades ,” which addresses the classification of a share-based payment award with an exercise price denominated in the currency of a market in which the underlying equity security trades. Topic 718 is amended to clarify that a share-based payment award with an exercise price denominated in the currency of a market in which a substantial portion of the entity’s equity securities trades shall not be considered to contain a market, performance, or service condition. Therefore, such an award is not to be classified as a liability if it otherwise qualifies as equity classification. The amendments in this update should be applied by recording a cumulative-effect adjustment to the opening balance of retained earnings. The cumulative-effect adjustment should be calculated for all awards outstanding as of the beginning of the fiscal year in which the amendments are initially applied, as if the amendments had been applied consistently since the inception of the award. ASU No. 2010-13 is effective for interim and annual periods beginning on or after December 15, 2010 and is not expected to have a material impact on the Company’s consolidated financial position or results of operations. The Company adopted the pronouncement on January 1, 2011 resulting in no impact to the Company’s consolidated financial statements.

InATLAS ~~December~~CAPITAL ~~2010~~HOLDINGS, ~~FASB issued ASC ASU 2010-28, “When to Perform Step 2 of the Goodwill Impairment Test for Reporting Units with Zero or Negative Carrying Amounts (Topic 350) — Intangibles — Goodwill and Other~~INC.” ASU 2010-28 amends the criteria for performing Step 2 of the goodwill impairment test for reporting units with zero or negative carrying amounts and requires performing Step 2, if qualitative factors indicate that it is more likely than not that goodwill impairment exists. The amendments to this update are effective for us in the first quarter of 2011. Any impairment to be recorded upon adoption will be recognized as an adjustment to our beginning retained earnings. The Company adopted the pronouncement on January 1, 2011 resulting in no impact to the Company’s consolidated financial statements.

~~In August 2009, the FASB issued Accounting Standards Update 2009-05~~ (~~ASU~~A ~~2009-05),~~DEVELOPMENTAL ~~“Fair~~STAGE ~~Value Measurements and Disclosures (Topic 820~~COMPANY) – Measuring Liabilities at Fair Value,” to amend FASB ASC Topic 820, “Fair Value Measurements and Disclosures,” to provide guidance on the measurement of liabilities at fair value. The guidance provides clarification that in circumstances in which a quoted market price in an active market for an identical liability is not available, an entity is required to measure fair value using a valuation technique that uses the quoted price of an identical

13NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

~~ATLAS~~Note ~~CAPITAL~~1 ~~HOLDINGS,~~– ~~INC.~~Organization and summary of significant accounting principles (continued)

(ARecently ~~DEVELOPMENTAL~~Adopted ~~STAGE~~Accounting ~~COMPANY~~Pronouncements (continued)

~~NOTES~~In TOJanuary ~~THE~~2010, ~~FINANCIAL~~the ~~STATEMENTS~~FASB issued Accounting Standards Update 2010-06, “Fair Value Measurements and Disclosures (Topic 820) - Improving Disclosures about Fair Value Measurements” (ASU 2010-06), to require new disclosures related to transfers into and out of Levels 1 and 2 of the fair value hierarchy and additional disclosure requirements related to Level 3 measurements. The guidance also clarifies existing

~~Note~~Fair 1value –measurement ~~Organization~~disclosures about the level of disaggregation and ~~summary~~about inputs and valuation techniques used to measure fair value. The additional disclosure requirements are effective for the first reporting period beginning after December 15, 2009, except for the additional disclosure requirements related to Level 3 measurements, which are effective for fiscal years beginning after December 15, 2010. The adoption of ~~significant~~the ~~accounting~~additional requirements ~~principles~~is ~~(continued)~~not expected to have any financial impact on the Company’s financial statements.

~~Recently~~In ~~Adopted~~December ~~Accounting~~2010, ~~Pronouncements~~FASB issued ASC ASU 2010-28, “When to Perform Step 2 of the Goodwill Impairment Test for Reporting Units with Zero or Negative Carrying Amounts (~~continued~~Topic 350) — Intangibles — Goodwill and Other.” ASU 2010-28 amends the criteria for performing Step 2 of the goodwill impairment test for reporting units with zero or negative carrying amounts and requires performing Step 2, if qualitative factors indicate that it is more likely than not that goodwill impairment exists. The amendments to this update are effective for us in the first quarter of 2011. Any impairment to be recorded upon adoption will be recognized as an adjustment to our beginning retained earnings. The Company adopted the pronouncement on January 1, 2011 resulting in no impact to the Company’s consolidated financial statements.

~~liability~~Concentration ~~when traded as an asset or, if unavailable, quoted prices for similar liabilities or similar assets when traded as assets. If none~~ of ~~this~~Credit information is available, an entity should use a valuation technique in accordance with existing fair valuation principles. The Company adopted the guidance effective October 1, 2009, and there was no material impact on the Company’s financial statements or related footnotes.Risk

InThe ~~December~~Company ~~2009,~~maintains ~~the~~its ~~FASB~~cash ~~issued~~and ~~Accounting~~cash ~~Standards~~equivalents ~~Update~~in ~~(ASU)~~bank ~~2009-17~~deposit accounts, ~~“Consolidations (FASB ASC Topic 810) - Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities,”~~ which ~~codifies FASB Statement No. 167~~, ~~Amendments~~at totimes ~~FASB~~may ~~Interpretation~~exceed ~~No.~~federally ~~46(R).~~insured ~~ASU 2009-17 represents a revision to former FASB Interpretation No~~limits. The 46Company ~~(Revised~~has ~~December 2003), “Consolidation of Variable Interest Entities,” and changes how a reporting entity determines when an entity that is insufficiently capitalized or is~~ not ~~controlled~~experienced through voting (or similar rights) should be consolidated. The determination of whether a reporting entity is required to consolidate another entity is based on, among other things, the other entity’s purpose and design and the reporting entity’s ability to direct the activities of the other entity that most significantly impact the other entity’s economic performance. ASU 2009-17 also requires a reporting entity to provide additional disclosures about its involvement with variable interest entities and any ~~significant~~losses ~~changes~~ in ~~risk~~such ~~exposure due to that involvement~~accounts. ~~A reporting entity will be required to disclose how its involvement with a variable interest entity affects the reporting entity’s financial statements.~~ ~~ASU~~Management believes ~~2009-17 is effective at~~ the ~~start of a reporting entity’s first fiscal year beginning after November 15, 2009, or the~~ Company’s ~~fiscal year beginning January 1, 2010. Early application~~ is not ~~permitted.~~exposed Weto ~~have not yet determined the impact, if~~ any, ~~which~~significant ofcredit ~~the~~risk ~~provisions~~related ofto ~~ASU~~cash ~~2009-15~~and ~~may~~cash ~~have on the Company’s financial statements~~equivalents.

~~Concentration of Credit Risk~~14

~~The~~ATLAS ~~Company~~CAPITAL ~~maintains its cash and cash equivalents in bank deposit accounts~~HOLDINGS, ~~which, at times may exceed federally insured limits~~INC. ~~The Company has not experienced any losses in such accounts. Management believes the Company is not exposed to any significant credit risk related to cash and cash equivalents.~~

14(A DEVELOPMENTAL STAGE COMPANY)

~~ATLAS~~NOTES ~~CAPITAL~~TO ~~HOLDINGS,~~CONSOLIDATED ~~INC.~~FINANCIAL STATEMENTS

(ANote ~~DEVELOPMENTAL~~2 ~~STAGE~~–Going ~~COMPANY)~~Concern

~~NOTES~~The TOaccompanying ~~THE~~financial ~~FINANCIAL~~statements ~~STATEMENTS~~have been prepared assuming that the Company will continue as a going concern, which contemplates the recoverability of assets and the satisfaction of liabilities in the normal course of business. As noted above, the Company is in the development stage and, accordingly, has not yet generated significant revenues from operations. As a development stage Company, it has generated revenues totaling $36,000 and incurred accumulated net losses of approximately $198,000 from September 13, 2006 (inception) through the period ended September 30, 2011.

~~Note~~The 2ability ~~–Going~~of ~~Concern~~the Company to continue as a going concern is dependent upon its ability to raise additional capital from the sale of common stock and, ultimately, the achievement of significant operating revenues. The accompanying financial statements do not include any adjustments that might be required should the Company be unable to recover the value of its assets or satisfy its liabilities.

~~The~~Note ~~accompanying~~3 ~~financial~~–Income statements have been prepared assuming that the Company will continue as a going concern, which contemplates the recoverability of assets and the satisfaction of liabilities in the normal course of business. As noted above, the Company is in the development stage and, accordingly, has not yet generated significant revenues from operations. As a development stage Company, it has generated revenues totaling $36,000 and incurred accumulated net losses of approximately $188,000 from September 13, 2006 (inception) through the period ended March 31, 2011.Taxes

~~The~~At ~~ability~~September of30, 2011, the Company tohad ~~continue~~approximately as$198,000 aof net ~~going~~operating ~~concern~~losses is(“NOL”) ~~dependent~~carry-forwards ~~upon~~for ~~its~~federal ~~ability~~and tostate ~~raise~~income ~~additional~~purposes. These ~~capital~~losses ~~from~~are ~~the~~available for ~~sale~~future ofyears ~~common stock~~ and, ~~ultimately,~~expire ~~the~~through ~~achievement of significant operating revenues~~2030. ~~The~~Utilization ~~accompanying~~of ~~financial~~these ~~statements~~losses domay ~~not~~be ~~include~~severely ~~any~~or ~~adjustments~~completely ~~that~~limited ~~might~~if ~~be required should~~ the Company undergoes bean ~~unable~~ownership tochange ~~recover~~pursuant ~~the~~to ~~value~~Internal ofRevenue ~~its~~Code ~~assets~~Section ~~or satisfy its liabilities~~382.

~~Note~~The 3deferred ~~–Income~~tax ~~Taxes~~asset is summarized as follows:

At March 31, 2011, the Company had approximately $188, 000 of net operating losses (“NOL”) carry-forwards for federal and state income purposes. These losses are available for future years and expire through 2030. Utilization of these losses may be severely or completely limited if the Company undergoes an ownership change pursuant to Internal Revenue Code Section 382.

	September 30,
	2011

Deferred tax asset:

Net operating loss carryforwards	$	74,000

Deferred tax asset		74,000

Less: Valuation allowance		(74,000

Net deferred tax asset	$	-

~~The deferred tax asset is summarized as follows:~~15

	March 31,
	2011
Deferred tax asset:
Net operating loss carryforwards	$	71,000
Deferred tax asset		71,000
Less: Valuation allowance		(71,000	)
Net deferred tax asset	$	-

ATLAS CAPITAL HOLDINGS, INC.

(A ~~reconciliation~~DEVELOPMENTAL ofSTAGE ~~income tax expense computed at the U.S. federal, state, and local statutory rates and the Company’s effective tax rate is as follows:~~COMPANY)

15NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

~~ATLAS~~Note ~~CAPITAL~~3 ~~HOLDINGS,~~–Income ~~INC.~~Taxes (continued)

(A ~~DEVELOPMENTAL~~reconciliation ~~STAGE~~of ~~COMPANY)~~income tax expense computed at the U.S. federal, state, and local statutory rates and the Company’s effective tax rate is as follows:

NOTES TO THE FINANCIAL STATEMENTS

	September 30,
	2010

Statutory federal income tax expense		(34)	%

State and local income tax		(4)
(net of federal benefits)

Valuation allowance		38

		-	%

~~Note~~The 3Company ~~–Income~~has ~~Taxes~~taken ~~(continued)~~a 100% valuation allowance against the deferred tax asset attributable to the NOL carryforward of $198,000 at September 30, 2011, due to the uncertainty of realizing the future tax benefits.

	June 30,
	2010
Statutory federal income tax expense		(34	) %
State and local income tax (net of federal benefits)		(4	)
Valuation allowance		38
		-	%

Note 4 – Stockholders’ equity

~~The~~In September 2006, the Company ~~has~~issued ~~taken~~6,500,000 ashares ~~100%~~of ~~valuation~~its ~~allowance~~$0.001 par ~~against~~value ~~the~~common ~~deferred~~stock ~~tax~~as ~~asset~~founder's ~~attributable~~shares. In toconnection with the ~~NOL~~issuance ~~carryforward~~ of ~~$188~~these 6,500,000 atshares, ~~March~~the ~~31,~~Company ~~2011~~recorded compensation ~~due~~expense toin the ~~uncertainty~~amount of ~~realizing~~$650. The shares were deemed to have been issued pursuant to an exemption provided by Section 4(2) of the ~~future~~Act, ~~tax~~which ~~benefits~~exempts from registration "transactions by an issuer not involving any public offering."

~~Note 4 – Stockholders’ equity~~16

InATLAS ~~September~~CAPITAL ~~2006~~HOLDINGS, ~~the Company issued 6,500,000 shares of its $0~~INC.001 par value common stock as founder's shares. In connection with the issuance of these 6,500,000 shares, the Company recorded compensation expense in the amount of $650. The shares were deemed to have been issued pursuant to an exemption provided by Section 4(2) of the Act, which exempts from registration "transactions by an issuer not involving any public offering."

In January 2007, the Company issued 3,400,000 shares of its $0.001 par value common stock for consulting services. In connection with the issuance of these 3,400,000 shares, the Company recorded compensation expense in the amount of $170,000. The shares were deemed to have been issued pursuant to an exemption provided by Section 4(2)A ofDEVELOPMENTAL ~~the~~STAGE ~~Act, which exempts from registration "transactions by an issuer not involving any public offering."~~COMPANY)

InNOTES ~~June~~TO ~~2007,~~CONSOLIDATED ~~the~~FINANCIAL Company issued 134,000 shares of its $0.001 par value common stock for $6,700 cash. The shares were deemed to have been issued pursuant to an exemption provided by Section 4(2) of the Act, which exempts from registration "transactions by an issuer not involving any public offering."STATEMENTS

16Note 4 – Stockholders’ equity

~~ATLAS~~In ~~CAPITAL~~January ~~HOLDINGS~~2007, ~~INC~~the Company issued 3,400,000 shares of its $0.001 par value common stock for consulting services. In connection with the issuance of these 3,400,000 shares, the Company recorded compensation expense in the amount of $170,000. The shares were deemed to have been issued pursuant to an exemption provided by Section 4(2) of the Act, which exempts from registration "transactions by an issuer not involving any public offering."

(AIn ~~DEVELOPMENTAL~~June ~~STAGE~~2007, ~~COMPANY~~the Company issued 134,000 shares of its $0.001 par value common stock for $6,700 cash. The shares were deemed to have been issued pursuant to an exemption provided by Section 4(2) of the Act, which exempts from registration "transactions by an issuer not involving any public offering."

~~NOTES~~On TOJanuary ~~THE~~26, ~~FINANCIAL~~2010, ~~STATEMENTS~~the Board of Directors of the Company approved a Stock Purchase Agreement (the “Agreement”) between the Company and all of the shareholders of Atlas Capital Partners, LLC (the “Shareholders”). Pursuant to the Agreement, the Company issued two shares of the Company’s common stock for every one share of Atlas Capital Partners held by the Shareholders. No other consideration was paid for the shares held by the Shareholders. Subsequently, the Company merged Atlas Capital Partners with and into the Company and filed the appropriate merger documents with the required state authorities. The Company issued 7,400,000 shares of its $0.001 par value common stock in connection the merger.

~~Note~~On March 2011, an investor group purchased an aggregate of 4,290,000 shares –of ~~Stockholders’~~common ~~equity~~stock of the company as an investment for a total aggregate price of $214,500. There were no underwriters involved in the sale, and no underwriting discounts or commissions were paid. The shares were deemed to have been issued pursuant to an exemption provided by Section 4(~~continued~~2) of the Act, which exempts from registration "transactions by an issuer not involving any public offering."

OnThere ~~January~~have ~~26,~~been ~~2010,~~no the Board of Directors of the Company approved a Stock Purchase Agreement (the “Agreement”) between the Company and all of the shareholders of Atlas Capital Partners, LLC (the “Shareholders”). Pursuant to the Agreement, the Company issued two shares of the Company’s common stock for every one share of Atlas Capital Partners held by the Shareholders. No other ~~consideration~~issuances was paid for the shares held by the Shareholders. Subsequently, the Company merged Atlas Capital Partners with and into the Company and filed the appropriate merger documents with the required state authorities. The Company issued 7,400,000 shares of ~~its $0.001 par value~~ common stock ~~in connection the merger~~.

~~There~~Note ~~have~~5 ~~been~~– noWarrants ~~other~~and ~~issuances of common stock.~~options

~~Note~~ There 5are –no ~~Warrants~~warrants ~~and~~or options outstanding to acquire any additional shares of common stock.

~~There~~Note ~~are~~6 no– ~~warrants~~Related orparty ~~options outstanding to acquire any additional shares of common stock.~~transactions

~~Note~~ During 6the –three ~~Related~~month ~~party~~period ~~transactions~~ended December 31, 2009, the Company’s former chief executive officer converted a $2,314 loan due him for startup expenses by making a contribution of this amount to additional paid-in capital. Also, during the same quarterly period, he made a $5,604 cash contribution to additional paid-in capital.

During the three month period ended ~~December~~March 31, ~~2009~~2010, the Company’s current ~~former~~ chief executive officer ~~converted~~and aprincipal ~~$2,314~~shareholder ~~loan~~advanced ~~due him for startup expenses by making a contribution of this amount to additional paid-in capital. Also, during~~ the ~~same~~company ~~quarterly period, he made a~~ $~~5,604~~800 ~~cash~~for ~~contribution~~the topayment ~~additional~~of ~~paid-in~~operating ~~capital~~expenses.

During the three month period ended ~~March~~December 31, 2010, the Company’s current chief executive ~~officer~~office and principal shareholder advanced the ~~company~~Company $~~800~~1,000 for the payment of operating expenses.

~~During the three month period ended December 31, 2010, the Company’s current chief executive office and principal shareholder advanced the Company $1,000 for the payment of operating expenses.~~17

~~Note~~ATLAS 7CAPITAL –HOLDINGS, ~~Commitments and contingent liabilities~~INC.

~~Legal~~(A ~~matters~~DEVELOPMENTAL -STAGE ~~The Company has no litigation.~~COMPANY)

17NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

~~Item~~Note 2.7 ~~Management~~– ‘sCommitments ~~Discussion~~ and ~~Analysis~~contingent ~~of Financial Condition and Results of Operations~~liabilities

~~Forward~~Legal ~~Looking~~matters ~~Statements~~- The Company is occasionally party to litigation or threat of litigation arising in the normal course of business. Management, after consultation with legal counsel, does not believe that the resolution of any such matters will have a material effect on the Company’s financial position or results of operations.

~~This~~Note ~~document~~8 ~~contains~~– ~~“forward-looking~~Subsequent statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including, but not limited to, any projections of earnings, revenue or other financial items; any statements of the plans, strategies and objections of management for future operations; any statements concerning proposed new services or developments; any statements regarding future economic conditions or performance; any statements of belief; and any statements of assumptions underlying any of the foregoing.Events

~~Forward-looking~~On ~~statements~~October ~~may~~6, ~~include~~2011, ~~the~~Atlas ~~words~~acquired ~~“may~~Textraw,” ~~“could~~Inc.,” ~~“estimate,”~~a ~~“intend,”~~Georgia ~~“continue,”~~corporation that ~~“believe,”~~engineers ~~“expect,” “anticipate”~~and ordistributes ~~other~~an ~~similar~~environmentally ~~words.~~friendly ~~These~~synthetic ~~forward-looking~~ground ~~statements~~cover ~~present~~manufactured ~~our~~from ~~estimates~~recycled ~~and~~materials. Atlas acquired ~~assumptions~~Textraw ~~only~~in asexchange offor ~~the~~$2,000,000 ~~date~~in ofwarrants ~~this~~that ~~report~~have an exercise price of $0.25. ~~Except~~Upon ~~for~~exercise ~~our~~the ~~ongoing~~warrants ~~securities~~may ~~laws,~~be converted weinto dorestricted ~~not~~common ~~intend,~~stock ~~and~~of ~~undertake~~Atlas noCapital ~~obligation~~Holdings, toInc. ~~update~~Textraw ~~any~~became ~~forward~~Atlas’ second wholly-~~looking~~owned ~~statement~~subsidiary.

~~Although~~Management wehas ~~believe~~evaluated ~~that~~subsequent ~~the~~events ~~expectations~~through ~~reflected~~November ~~in any of our forward-looking statements are reasonable~~17, 2011, ~~actual~~the ~~results~~date ~~could differ materially from those projected or assumed in any~~ of ~~our~~which ~~forward-looking~~the ~~statements. Our future~~ financial ~~condition and results of operations, as well as any forward-looking~~ statements, ~~are~~were ~~subject~~available to ~~change~~be ~~and inherent risks and uncertainties~~issued. ~~The factors impacting these risks and uncertainties include, but are not limited to:~~

~~• our ability to successfully compete in the professional services industry;~~18

•Item ~~difficulties~~2. ~~developing~~Management’s aDiscussion ~~new~~and ~~line~~Analysis of ~~business~~Financial inCondition ~~the~~and ~~professional~~Results ~~services~~of ~~industry;~~Operations

•Forward ~~failure~~Looking ~~to identify, develop or profitably manage additional businesses;~~Statements

•Management's ~~failure~~Discussion toand ~~obtain~~Analysis ~~new~~of ~~customers~~Financial orCondition ~~retain~~and Results ~~existing~~of ~~customers;~~Operations.

•Disclosure ~~inability~~Regarding toForward ~~efficiently~~Looking ~~manage our operations;~~Statements

•This ~~inability~~document contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including, but not limited to, ~~achieve~~any projections of earnings, revenue or other financial items; any statements of the plans, strategies and objections of management for future ~~operating~~operations; ~~results~~any statements concerning proposed new services or developments; any statements regarding future economic conditions or performance; any statements or belief; and any statements of assumptions underlying any of the foregoing.

•Forward-looking ~~inability~~statements tomay ~~obtain~~include ~~capital~~the words “may,” “could,” “estimate,” “intend,” “continue,” “believe,” “expect” or “anticipate” or other similar words. These forward-looking statements present our estimates and assumptions only as of the date of this report. Except for ~~future~~our ~~growth;~~ongoing securities laws, we do not intend, and undertake no obligation, to update any forward-looking statement.

•Although ~~loss~~we believe that the expectations reflected in any of ~~key~~our forward-looking ~~executives;~~statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties. In this filing references to “Company,” “we,” “our,” and/or “us,” refers to Atlas Capital Holdings, Inc .

~~• general economic and business conditions.~~19

18Plan of Operations

~~For~~Over athe ~~detailed~~next ~~description~~twelve ofmonths ~~these~~we ~~and~~plan ~~other~~to ~~factors~~execute ~~that~~our ~~could~~strategy ~~cause~~to ~~actual~~acquire or ~~results~~develop tomore ~~differ~~companies ~~materially~~that ~~from~~produce ~~those~~or ~~expressed~~provide inproducts ~~any~~and ~~forward-looking~~services ~~statement,~~that ~~please~~are ~~see~~considered ~~“Factors~~environmentally ~~That~~friendly. ~~May~~Management believes ~~Affect~~there ~~Our~~is ~~Plan~~a ofgrowing ~~Operation”~~market infor ~~this~~these ~~document~~types ~~and~~of inproducts ~~our~~and ~~Annual~~services. ~~Report~~Which onis ~~Form~~evident ~~10-K~~by ~~for~~ the ~~year~~continued ~~ended~~interest ~~June~~in ~~30,~~investing by ~~2010,~~the ~~available~~U.S. atgovernment and the ~~SEC’s~~private ~~website at www~~sector.~~sec.gov.~~

~~Going~~We ~~Concern~~are structured as a holding company and we currently own two wholly-owned subsidiaries, AlgaeTek Systems and Textraw. AlgaeTek has entered int a License and Commercialization Agreement with Algar Farm, Inc underwhich it has obtained the exclusive right to use of Algae Farm’s intellectual property in six states including Florida, Alabama, Mississippi, South Carolina, North Carolina and Georgia. Algae Farm will also assist with the development of the production facility and with the commercialization of the algae produced.

~~The~~Our ~~accompanying~~second ~~financial~~wholly-owned ~~statements~~subsidiary ~~have~~is ~~been prepared assuming that the Company will continue as a going concern~~Textraw, ~~which contemplates the recoverability of assets and the satisfaction of liabilities in the normal course of business~~Inc. ~~As noted above~~, ~~the Company is in the development stage~~ and, ~~accordingly,~~that ~~has~~subsidiary engineers ~~not yet generated significant revenues from operations. As a development stage Company, it has generated revenues totaling $36,000~~ and ~~incurred~~distributes ~~accumulated~~an ~~net~~environmentally ~~losses~~friendly ofsynthetic ~~approximately~~ground ~~$188,068~~cover manufactured from ~~September~~recycled ~~13, 2006 (inception) through the period ended March31, 2011.~~materials

~~The~~Our ~~financial~~goal ~~statements~~is doto ~~not~~increase ~~include~~the ~~any~~value ~~adjustments~~of ~~relating~~our tocompany ~~the~~by ~~recoverability~~providing ~~and~~our two ~~classification~~current ofsubsidiaries ~~recorded~~our ~~assets~~business, ~~and~~marketing, ~~classification~~financial ofand ~~liabilities~~legal expertise that ~~might~~they berequire ~~necessary~~to ~~should~~grow ~~the~~and ~~Company~~execute betheir ~~unable to continue existence~~business plans.

~~Business~~Atlas ~~Overview~~is looking to acquire small companies that have moved beyond the development stage and ~~Recent~~actually ~~Developments~~have a product or a service to provide to the market. We have identified several opportunities to acquire small companies that produce environmentally friendly products such as cleaning supplies, outdoor landscaping and lawn care and solar and wind energy development.

~~Atlas~~Results ~~Capital~~of ~~Holdings,~~Operations ~~Inc.~~for ~~is a development stage company, originally incorporated in~~ the ~~State~~Quarter ofEnded ~~Nevada on~~ September ~~13,~~30 2006 under the name Micro Mammoth Solutions, Inc. The Company was originally formed to serve as a mortgage consulting firm and provide specialized consulting services to small and medium sized mortgage brokers and mortgage lenders. That business plan was unsuccessful and on December 9, 2009, the Board of Directors of the Company appointed Mr. Christopher K. Davies as the Company’s new President and Chief Executive Officer. Pursuant to the terms of Mr. Davies’ employment, the Company’s sole Director and Chief Executive Officer, Mr. James Watson issued Mr. Davies 6.0 million shares of his common stock. Mr. Davies succeeded Mr. James Watson, who served as the Company’s President and Chief Executive Officer since March, 2008. Mr. Watson resigned his position contemporaneously with Mr. Davies’ appointment.2011

OnFor ~~January 26, 2010,~~ the ~~Board~~three ofmonths ~~Directors~~ended ofSeptember ~~the~~30, ~~Company~~2011 ~~approved a Stock Purchase Agreement (the “Agreement”) between the Company~~ and ~~all of the shareholders of Atlas Capital Partners~~2010, ~~LLC~~we ~~(the~~had ~~“Shareholders”). Pursuant~~a net toloss ~~the Agreement, the Company issued two shares~~ of ~~the Company’s common stock for every one share of Atlas Capital Partners held by the Shareholders. No other consideration was paid for the shares held by the Shareholders. Subsequently~~$3,500 ~~the Company purchased all of the issued~~ and ~~outstanding~~$-0-, ~~stock of Atlas Capital Partners with and into the Company and filed the appropriate merger documents with the required state authorities~~respectively.

~~Following~~For the ~~acquisition~~three ofmonths ~~Atlas~~ended ~~Capital~~September ~~Partners the shareholders approved an amendment to the Company’s Articles of Incorporation changing the Company’s name from Micro Mammoth Solutions~~30, ~~Inc.~~2011 toand ~~Atlas Capital Holdings~~2010, ~~Inc.~~we ~~This~~did ~~amendment~~not generate ~~was~~any ~~effective upon filing with the Nevada Secretary of State’s office on January 26, 2010~~revenues.

19For complete financial information, please see the enclosed financial statements and the accompanying notes

OnLiquidity ~~March 1, 2011 the Company entered into a Joint Venture Agreement (“JVA”) with Clean Energy Pathways, Inc. (“CEP”). Under the JVA, the Company agreed to become the marketing~~ and ~~financing~~Capital ~~operation for CEP and CEP agreed to pay $100,000 to the Company as an engagement fee under the JVA.~~ Resources

AsWe ofexperienced ~~March~~net 1losses of $3,500 ~~2011~~and $-0- for the ~~Company’s~~years ~~main~~ended September ~~business~~30, ~~involves~~2011 ~~working~~and ~~closely~~2010, ~~with~~respectively. ~~CEP~~Cash toflows ~~market~~from ~~and~~operations ~~develop~~are ~~financial~~not ~~interest~~currently ~~for~~sufficient ~~solar~~to ~~project~~fund ~~developments~~operations ~~that~~in ~~are~~combination with ~~sponsored~~these bycorporate ~~CEP~~expenses. ~~The~~ ~~Company~~We ~~serves~~will asneed ~~the~~to ~~marketing~~raise ~~and~~capital ~~interest~~in ~~building~~order ~~and~~to ~~investment~~execute ~~arm~~our ~~for~~business ~~each project~~plan.

~~Plan~~Since inception, we have financed cash flow requirements through the issuance of ~~Operations~~common stock, warrants and cash from our officers and directors. As we expand our operational activities, we may continue to experience negative cash flows from operations and we will be required to obtain additional financing to fund operations through equity offerings and borrowings to the extent necessary to provide working capital. Financing may not be available, and, if available, it may not be available on acceptable terms. Should we secure such financing, it could have a negative impact on our financial condition and our shareholders. The sale of debt would, among other things, adversely impact our balance sheet, increase our expenses and increase our cash flow requirements. The sale of equity could, among other things, result in dilution to our shareholders. If our cash flows from operations are significantly less than projected, then we would either need to cut back on our budgeted spending, look to outside sources for additional funding or a combination of the ~~next~~two. ~~Twelve~~If ~~Months~~we are unable to access sufficient funds when needed, obtain additional external funding or generate sufficient revenue from the sale of our products, we could be forced to curtail or possibly cease operations.

Over the next twelve months we plan to assist CEP with the marketing and capitalizing their development projects. This will involve, and we have already begun, hiring additional marketing consultants and independent contractors to assist the Company to meet its obligations under the Joint Venture Agreement with CEP. In addition, other milestones will consist of the following:20

1)Off-Balance ~~developing~~Sheet ~~a marketing plan for each oc CEP's projects;~~Arrangements

2)As ~~putting~~of ~~those~~the ~~materials~~date inof ~~front~~filing of ~~the~~this ~~appropriate~~statement, ~~parties~~there towere ~~develop~~no ~~interest;~~off -balance sheet arrangements.

3)Going ~~maintaining contact with other service providers who will assist in identifying new projects;~~Concern

4)The ~~determining~~accompanying iffinancial astatements ~~merger~~have been prepared in conformity with ~~CEP~~accounting isprinciples generally accepted in the ~~best~~United ~~pat~~States, ~~for~~which contemplates continuation of the Company ~~and~~as ~~its~~a ~~shareholders,~~going orconcern. The ifCompany’s aoperations ~~continued~~generated ~~Joint~~limited ~~Venture~~income isduring ~~best;~~the current period ended.

5)The ~~acquire~~future ~~more~~success ~~clients~~of the Company is likely dependent on its ability to obtain additional capital to develop its proposed consulting offerings and ~~engagements~~ultimately, ~~from~~upon ~~other~~its ~~companies~~ability ~~sot~~to attain future profitable operations. There can be no assurance that the Company iswill ~~not~~be ~~dependent~~successful onin ~~one~~obtaining ~~partner/client~~such financing, or that it will attain positive cash flow from operations.

WeSee ~~have begun working on each of~~ the ~~above~~Financial ~~noted~~Statements ~~milestones~~ and weaccompanying ~~believe~~footnotes wefor ~~could~~our full ~~complete~~financial ~~each~~information ofand ~~these~~disclosures, ~~milestones~~beginning byon ~~the~~page ~~end of the fourth quarter of this calendar year, 2011~~3.

InAs ~~order~~a tosmaller ~~meet~~reporting ~~each~~company ~~milestone the Company will use those revenues it expects to generate from each project~~ as adefined ~~base~~by ~~line~~Rule ~~budget to determine the number of professional consultants and independent contractors to hire for each project~~229.10, ~~Once~~ALCL ~~the project~~ is not ~~operational the Company will begin receiving revenues and hire the number of personnel~~ required ~~for the given project. So the expenses for each of the milestones listed above are specific~~ to ~~each~~provide ~~project and based on need. As we develop a larger pipeline of projects more personnel will be brought on to those projects according to~~ the ~~budgets~~supplementary ~~allocated~~financial indata ~~advance of each project. This will prevent the Company from generating losses~~ as arequired ~~result~~by ofthis ~~paying for personnel before sufficient funding has been allocated~~item.

2021

~~CEP~~ITEM ~~has provided an initial $100,000 as an engagement fee to allow the Company to begin operations in anticipation of the initial projects coming online~~3. We ~~believe~~Quantitative ~~this~~And ~~will~~Qualitative beDisclosures ~~sufficient~~About toMarket complete each of our milestones. The Company’s management believes this engagement fee will be sufficient to allow the Company to operate until a development project is brought online which we believe will occur by the end of the fourth quarter of this calendar year, 2011. The Company has identified three development projects for which CEP is working to obtain funding so that these projects may be developed.Risk

~~Our~~ As ~~specific operations involve working with CEP to provide marketing and financial advisory services for its solar or wind projects that CEP identifies and that require development financing and~~ a ~~co-developer~~smaller orreporting ~~developer. After~~company, aas ~~CEP~~defined ~~professional~~by ~~identifies~~Rule ~~a project and that project of interest~~229, 10(f)(1), the Company ~~will assign a consultant to meet with the CEP professional who~~ is ~~responsible~~not ~~for~~required ~~that project. The Company’s consultant will work with the CEP professional~~ to ~~develop~~provide aQuantitative strategy for executing an agreement the project sponsor or developer then the Company will consult with the developer of the project to determine the best approach for financing the project. After a development or co-development agreement is executed that will enable the Company to begin preparing the materials that are necessary to seek financing for the project. Financing for these projects include state and ~~local~~Qualitative ~~government~~disclosures ~~sources~~about and tax incentives, and institutional sources whose objective is to fund renewable energy projects. The Company assists with every aspect of the financing strategy and the development of those materials that are necessary to market ~~the project to the various financing sources~~risk. The Company is paid for its hourly consulting time on each project. Consulting revenue is dependent on the number of hours billed for each project as well as the experience level of each consultant that provides service for each project.

AITEM ~~critical~~4 ~~component~~. ofControls ~~our operating plan impacting our continued existence is the ability to obtain additional capital through additional equity~~ and~~/or~~ debt financing. In the event we cannot obtain the necessary capital to pursue our strategic plan, we may have to cease or significantly curtail our operations. This would materially impact our ability to continue operations.Procedures

~~Results~~Evaluation of ~~Operations~~Disclosure Controls and Procedures Over Financial Reporting

~~For~~Based ~~the~~on ~~three~~evaluations ~~month~~on ~~periods~~September ~~ended March 31~~30, 2011, our principal executive and ~~2010~~financial officer, wehas ~~reported~~concluded nothat ~~revenues;~~the disclosure controls and ~~for~~procedures ~~the~~(as ~~nine~~defined ~~month~~in ~~periods~~Rule ~~ended~~13a-15(e) ~~March~~and ~~31,~~15d-15(e) ~~2011,~~under the weSecurities ~~reported~~Exchange ~~revenues~~Act) ofare ~~$-0-~~effective ~~and~~to ~~$4,000,~~ensure ~~respectively.~~that ~~For~~information required to be disclosed by the ~~three~~company ~~and~~in ~~nine~~reports ~~month~~that ~~periods~~we file ~~ended~~or ~~March~~submit 31under the Securities Exchange Act is recorded, ~~2011~~processed, wesummarized ~~incurred~~and ~~net~~reported ~~losses~~within the time periods specified in the rules and forms of $1the SEC,~~250~~ and ~~$800~~that material information relating to the Company is accumulated and $2communicated to management,~~250~~ including our principal executive and $1financial officer,~~389,~~ ~~respectively~~as appropriate to allow timely decisions regarding required disclosures.

~~For~~Changes ~~complete~~in ~~financial~~Internal ~~information, please see the enclosed financial statements and the accompanying notes.~~Controls

21During the period covered by this quarterly report on Form 10-Q, the Company has not made any changes to its internal control over financial reporting (as referred to in Paragraph 4(b) of the Certifications of the Company’s principal executive and financial officer included as exhibits to his report) that have materially affected, or are reasonably likely to affect the Company’s internal control over financial reporting.

~~Liquidity~~PART ~~and~~II ~~Capital~~- ~~Resources~~OTHER INFORMATION

~~Until~~ITEM ~~our recent Joint Venture with Clean Energy Pathways the Company has had limited liquidity~~1. ~~The~~Legal Company believes that under its current Joint Venture Agreement it will begin to realize liquidity and operating capital. Under the JVA, CEP will provide $100,000 as an engagement fee for the Company. This engagement fee will enable the Company to meet its current financial obligations and provide liquidity to the Company. If the Company is able to secure a development project along with CEP or on its own, then the Company will not need to raise any capital from financing activities in order to fund its operations for the next twelve months. The $100,000 that CEP will provide will be more than sufficient to fund current operations until a project can be brought online. Our need for capital is consistent with the work we perform on each project. As a project comes online we will require additional personnel to staff the marketing and interest procurement for that project. Capital is provided by the project as part of the projects budget and therefore covers our costs and expenses. Additional capital could be required in the event that Company is unable to secure a project within the next twelve months. In that event we could be required to seek additional funds from a third party or institutional investor. In such an event we cannot guaranty that we will be able procure such financing on terms that are favorable or acceptable to management.Proceedings

InWe ~~the~~are ~~short-term~~not ~~our~~involved ~~liquidity needs have been met by CEP providing an engagement fee to the Company~~ in ~~return~~any ~~for~~legal ~~our~~proceedings ~~services~~and ~~related~~we toare ~~the~~not ~~Joint~~aware of ~~Venture.~~any ~~This~~pending ~~will~~or ~~more~~potential ~~than~~legal ~~provide for the current and short- term expenses of the Company~~actions.

InITEM the long-term, within the next twelve months the Company believes it will generate additional revenue as CEP’s development projects are approved and come online by the end of the fourth quarter of this year, 20111A. ~~These~~Risk projects are expected to provide revenue for the Company that is sufficient to fund its operations. In the event that twelve months has passed and we are unable to secure any development projects, then the Company will need to seek additional financing as it will not have any liquidity.Factors

~~The~~Smaller ~~Company~~reporting ~~will~~companies ~~account for the $100,000 engagement fee provided by CEP as revenue generated by the Company. We will recognize revenue when services~~ are ~~rendered,~~not ~~based~~required ~~on actual service provided in relation~~ to provide the ~~total~~information required ofby ~~services~~this ~~to be provided~~item.

~~Off-Balance Sheet Arrangements~~22

WeITEM do2. ~~not~~Unregistered ~~have~~Sales ~~any~~of ~~off-balance~~Equity ~~sheet~~Securities ~~arrangements.~~and Use of Proceeds

22None

~~ITEM 3. Quantitative And Qualitative Disclosures About Market Risk~~23

AsITEM a3. ~~smaller~~Defaults ~~reporting~~Upon ~~company,~~Senior ~~as defined by Rule 229,10(f)(1), the Company is not required to provide Quantitative and Qualitative disclosures about market risk.~~Securities

~~ITEM~~There 4were .no ~~Controls~~defaults ~~and~~upon ~~Procedures~~senior securities during the period covered by this report.

~~Evaluation~~ITEM of4. ~~Disclosure Controls and Procedures Over Financial Reporting~~RESERVED

~~Based~~ITEM on5. ~~evaluations~~Other on March 31, 2011, our principal executive and financial officer, has concluded that the disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Securities Exchange Act) are effective to ensure that information required to be disclosed by the company in reports that we file or submit under the Securities Exchange Act is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC, and that material information relating to the Company is accumulated and communicated to management, including our principal executive and financial officer, as appropriate to allow timely decisions regarding required disclosures. Information

~~Changes in Internal Controls~~None

~~During~~ITEM the period covered by this quarterly report on Form 10-Q, the Company has not made any changes to its internal control over financial reporting (as referred to in Paragraph 4(b) of the Certifications of the Company’s principal executive and financial officer included as exhibits to his report) that have materially affected, or are reasonably likely to affect the Company’s internal control over financial reporting6. Exhibits

~~PART~~The IIfollowing -exhibits ~~OTHER~~are ~~INFORMATION~~included with this quarterly filing. Those marked with an asterisk and required to be filed hereunder

ITEM 1. Legal Proceedings

Incorporated by reference

Exhibit

Exhibit Description

Filed

herewith

Form

Period

ending

Exhibit

Filing

date

3.1(i)

Amended Articles of Incorporation filed as an Exhibit to the Company’s Form 10/A filed on May 24, 2010

10/A

3.1(i)

04/07/2011

3.1(ii)

Bylaws of Atlas Capital Holdings, Inc. filed as an Exhibit to the Company’s 10Q filed on May 24, 2010

10Q

3.1(ii)

05/24/2010

31*

Certification of Christopher K. Davies pursuant to Section 302 of the Sarbanes-Oxley Act

32*

Certification of Christopher K. Davies pursuant to Section 906 of the Sarbanes-Oxley Act

~~We are not involved in any legal proceedings and we are not aware of any pending or potential legal actions.~~24

~~ITEM 1A. Risk Factors~~SIGNATURES

~~Smaller~~Pursuant ~~reporting~~to ~~companies~~the ~~are~~requirements ~~not~~of ~~required~~Section to13 ~~provide~~or Section 15(d) of the Securities ~~information~~Exchange ~~required~~Act byof 1934, the Registrant has duly caused this ~~item~~report to be signed on its behalf by the undersigned, thereunto duly authorized, on November 21, 2011.

23ATLAS CAPITAL HOLDINGS, INC. REGISTRANT /s/ Christopher K. Davies Christopher K. Davies Chief Executive Officer and Principal Accounting Officer

~~ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds~~25

On March 2011 an investor group purchased an aggregate of 4,290,000 shares of common stock of the company as an investment for a total aggregate price of $214,500. There were no underwriters involved in the sale, and no underwriting discounts or commissions were paid. The shares were deemed to have been issued pursuant to an exemption provided by Section 4(2) of the Act, which exempts from registration "transactions by an issuer not involving any public offering."

ITEM 3. Defaults Upon Senior Securities

There were no defaults upon senior securities during the period covered by this report.

ITEM 4. RESERVED

ITEM 5. Other Information

None

ITEM 6. Exhibits

The following exhibits are included with this quarterly filing. Those marked with an asterisk and required to be filed hereunder

Incorporated by reference

Exhibit

Exhibit Description

Filed herewith

Form

Period ending

Exhibit

Filing date

3.1(i)

Amended Articles of Incorporation filed as an Exhibit to the Company’s Form 10/A filed on May 24, 2010

10Q

3.1(i)

07/17/07

3.1(ii)

Bylaws of Atlas Capital Holdings, Inc. filed as an Exhibit to the Company’s 10Q filed on May 24, 2010

10Q

3.1(ii)

07/17/07

31*

Certification of Christopher K. Davies pursuant to Section 302 of the Sarbanes-Oxley Act

32*

Certification of Christopher K. Davies pursuant to Section 906 of the Sarbanes-Oxley Act

SIGNATURES

Pursuant to the requirements of Section 13 or Section 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on May 12, 2011.

ATLAS CAPITAL HOLDINGS, INC. REGISTRANT /s/ Christopher K. Davies Christopher K. Davies Chief Executive Officer and Principal Accounting Officer

Filing Compare · Atlas Capital Holdings, Inc.