American Battery Materials Inc (BLTH)

[LawgInn2024]

Here is OUR OPINION. There are MANY flaws in several of the statements below. First, the company will have no choice but to do the 1-5 reverse split that they have filed for, resulting in the OS going from 11.6 million to 2.6 million. If, by chance, the S-1 is even remotely successful (and that's a BIG IF), it will create MASSIVE, historical, sweeping dilution to existing and pre-raise shareholders. In addition, it appears that there are a significant number of convertibles that will induce even more painful dilution. There is SO much paper out there it's tough even to imagine the amount of dilution ahead, could be millions and millions, we can't keep track of the prinitng press anymore. In our opinion, this stock is uninvestable until the equity cap table is thoroughly flushed, they have the required working capital to execute, which could take years. This goes without saying that the "executive team", has to go as soon as possible and be replaced with professionals that know what they are doing and that have a history of success...the current group has neither. The last SPAC deal was terminated once they realized who would be at the wheel of this thing, from what we heard. These significant challenges (and there are many, many, many more) don't even take into consideration that the shine is off the lithium market. We have an oversupply and there's no indication that there's a meaningful amount of lithium in the BLTH claims and that these guys can extract it profitably. This is a 2026-27 story at best, if it ever even gets off the ground. In the meantime, in our opinion, this stock is untouchable and should be avoided...run, run, run...run away.