A 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.