$AMLM

AMERICAN LITHIUM MINERALS, INC.

CIK:0001356371|SEC Filings

Statements of Operations (USD $)	3 Months Ended		9 Months Ended		76 Months Ended
Statements of Operations (USD $)	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011
Revenues
Expenses
Mineral property expenditures (Note 6)	161,398		1,389,021		1,408,021
Mineral property impairment		513,296		513,296	513,296
Consulting fee - related party (Note 8)	948,422	217,054	1,059,250	336,344	1,463,998
Consulting fees - stock compensation	(1,740,000)	4,602,916	1,128,592	9,066,704	10,260,956
Consulting fees	568,330	15,000	619,843	75,628	710,471
General and administrative	68,560	88,436	253,770	214,673	650,302
Legal and accounting	31,575	18,408	77,106	56,391	327,916
Management fees - related party (Note 8)	45,000	70,325	135,000	126,325	375,000
Promotion and shareholder relations	54,330	41,370	145,264	125,370	341,524
Rent expense - related party (Note 8)					7,600
Total expenses	137,615	5,566,805	4,807,846	10,514,731	16,059,084
Other expenses (income)
Interest income		(204)		(2,531)	(3,524)
Gain on extinguishment of accrued liability					(8,500)
Interest and debt discount expense on convertible note	146,227		316,925		348,185
Total other expense (income)	146,227	(204)	316,925	(2,531)	336,161
Extraordinary items
Debt extinguishment expense	305,835		305,835		305,835
Net loss	$ 589,677	$ 5,566,601	$ 5,430,606	$ 10,512,200	$ 16,701,080
Basic earnings per common share (in dollars per share)	$ (0.01)	$ (0.10)	$ (0.10)	$ (0.20)
Weighted average number of common shares basic (in shares)	56,527,407	54,350,924	54,588,534	52,525,181

Statements of Cash Flows (USD $)	9 Months Ended		76 Months Ended
Statements of Cash Flows (USD $)	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011
Cash flows from operating activities
Net loss	$ (5,430,606)	$ (10,512,200)	$ (16,701,080)
Adjustments to reconcile net loss to net cash used in operating activities
Contributions to capital by related parties - expenses (Notes 7 and 8)			38,400
Contributions to capital by related parties - forgiven debt (Note 8)			32,000
Non-cash gain on extinguishment of accrued liability			8,500
Depreciation and amortization	5,058	1,020	7,663
Stock based compensation expense	2,588,842	9,066,704	11,721,206
Amortization of debt discount & accretion of warrants fair value	232,032		254,834
Increase to accrued interest	69,892		76,850
Extinguishment of debt	305,835		305,835
Mineral property impairment		513,296	513,296
Changes in operating assets and liabilities
Increase in tax recoverable	(47,533)		(47,533)
Increase in prepaid expenses	4,007	(24,272)	(25,468)
(Increase) decrease in advance to Pine Point	5,210	(5,158)	(2,913)
(Increase) in deposit and bond	(24,237)	(10,000)	(24,237)
Increase (decrease) in accounts payable	(44,910)	39,279	23,519
Net cash used in operating activities	(2,336,410)	(931,331)	(3,819,128)
Cash flows from investing activities:
Advances on related party receivables, senior officer	(56,500)	(25,000)	(81,501)
Acquisition of fixed assets and website development		(28,644)	(30,465)
Cash proceeds received on property deposit	1,545,587		1,805,587
Purchase of mineral claims and exploration	42,460	(259,386)	(578,939)
Net cash provided by (used in) investing activities	1,531,547	(313,030)	1,114,682
Cash flows from financing activities
Proceeds from convertible note	350,000		1,100,000
Bank overdraft	40,146		40,146
Due to related party		6,000	69,877
Common shares issued for cash		30,000	1,505,500
Net cash provided by financing activities	390,146	36,000	2,715,523
(Decrease) increase in cash and cash equivalents	(414,717)	(1,208,361)	11,077
Cash and cash equivalents, beginning of period	425,794	1,232,712
Cash and cash equivalents, end of period	11,077	24,351	11,077
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	15,000		15,000
Non - cash investing and financing activities:
Beneficial conversion feature			224,528
Financing costs associated with warrants			252,305
Common stock issued to satisfy common stock payable			1,000,000
Cancellation of subscriptions receivable	382,500		382,500
Stock issued for mineral property		$ 2,295,000	$ 2,607,500

Balance Sheets (USD $)	Jun. 30, 2011	Sep. 30, 2010
Current assets
Cash and cash equivalents	$ 11,077	$ 425,794
Advance to PinePoint (Note 8)	2,913	8,123
Tax recoverable	47,533
Prepaids	16,316	20,323
Total current assets	77,839	454,240
Fixed assets (Note 4)
Computer equipment and office furniture - net of depreciation	13,746	17,032
Total fixed assets	13,746	17,032
Other assets
Website - net of amortization (Note 5)	9,056	10,828
Mineral claims (Note 6)	2,819,143	2,861,604
Total other assets	2,828,199	2,872,432
Long term assets
Deposits and bond	33,389	9,152
TOTAL ASSETS	2,953,173	3,352,856
Current liabilities
Accounts payable	32,019	76,929
Bank overdraft	40,146
Due to related party (Note 8)	69,877	69,877
Deposit on property option	1,805,587	260,000
Convertible note payable, net of unamortized debt discount of $276,496 and $454,031, respectively (Note 11)	823,504	295,969
Interest payable on convertible note	76,850	6,958
Total current liabilities	2,847,983	709,733
TOTAL LIABILITIES	2,847,983	709,733
Stockholders' equity
Common stock (Note 7): $0.001 par value; authorized 75,000,000 shares; issued and outstanding as of June 30, 2011 and September 30, 2010: 57,365,740 and 53,390,740, respectively	57,366	53,391
Additional paid-in capital	16,758,405	14,267,706
Subscriptions receivable		(382,500)
Related party receivables, senior officer (Note 8)	(81,501)	(25,000)
Stock payable	72,000
Deficit accumulated during the exploration stage	(16,701,080)	(11,270,474)
Total stockholders' equity	105,190	2,643,123
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 2,953,173	$ 3,352,856