Gediminas Jasionis

Amerilithium Corp. (OTC:AMEL) - No More Pumping

by Gediminas Jasionis March 18, 2010

Amerilithium_logo.jpgA recently issued 8-K filing described the change of the company's name to Amerilithium as well as a stated 8 for 1 forward stock split, which  was authorized by a majority of the shareholders on Feb 16, 2010. The number of authorized shares have also been increased to 150 million.

  • There were 6.6 million shares outstanding on Sep 30, 2009;
  • after split share count would be 52.8 million;
  • stock can be diluted up 184% from this point.

Though the 8-K filing suggests the acquisitions of lithium prospects are a real deal, the lack of funding and increase in authorized share could lead one to think about possible equity funding rounds.

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