Amerilithium Corp.(OTC BB: AMEL): Promoters Push The Stock Up
31 Mar 2010

Amerilithium went up again by 6,25% yesterday after the downtrend and closed at $1,12. The company has now paid to promoters to drive the stock price up, since the positive impact of several previous press releases about expected financing and new asset purchases cannot be seen anymore.

On March 30, the company engaged in mineral exploration and mining, paid $10,000 to Small Cap Voice to promote their stock. The market reacted with a trading volume of $489,401.920 on the same day and the stock realized a daily high of $1,19 per share.

Around ten days before that the OTC Bulletin Board announced that Amerilithium entered into a $10 million financing agreement with an unknown European institutional investor focusing on mining ventures. According to the press release, the additional funds will enable the company to launch its geological exploration program for its North American properties. A week before that Amerilithium filed an asset purchase agreement with Power Mining Ventures. According to the report, the company acquired a 100% net revenue interest in three lithium brine projects located in southwestern Australia.

Though the last official SEC filing of financial data about Amerilithium is from September last year and it reports only liabilities and a net loss of $10,994. In fact, the company never had any substantial revenues and has paid for three promotions only for the last month. Considering the lack of any current information about Amerilithium, the rise of its market price can absolutely not be justified by any fundamental values.

No comments
Leave a comment

To prove you're a person (not a spam script), type the security word shown in the picture. Click on the picture to hear an audio file of the word.
Click to hear an audio file of the anti-spam word