$ AMLM.The financial statements for this reporting period were prepared by (name of individual): Name: Barbara McIntyre Bauman Title: Chief Financial Officer Relationship to Issuer: Chief Financial Officer AMERICAN LITHIUM MINERALS, INC. BALANCE SHEETS (Unaudited) December 31, September 30, 2020 2020 ASSETS Current Assets Cash and cash equivalents $ 30,100 $ — Total Current Assets 30,100 — Mining claims 2,829,143 2,819,143 TOTAL ASSETS $ 2,859,243 $ 2,819,143 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) LIABILITIES Current Liabilities Accounts payable $ — $ — Prepaid deposit on mining claim 30,000 — Total Current Liabilities 30,000 — Long-Term Liabilities Due to affiliate - Middle Verde Development Co., LLC 80,052 58,756 Total Long-Term Liabilities 80,052 58,756 Total Liabilities 110,052 58,756 STOCKHOLDERS’ EQUITY (DEFICIT) Series L Preferred stock, $0.001 par value; 2,000 shares authorized and 2,000 and 2,000 shares issued and outstanding as of December 31, 2020 and September 30, 2020, respectively 2 2 Common stock, par value $0.001, 74,998,000 shares authorized, 68,717,592 and 68,717,592 shares issued and outstanding at December 31, 2020 and September 30, 2020, respectively 68,718 68,718 Additional paid-in capital 16,764,788 16,764,788 Accumulated deficit (14,084,317) (14,063,121) Total Stockholders’ Deficit 2,749,191 2,770,387 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) $ 2,859,243 2,829,14GO > $ AMLM
On November 23, 2020, American Lithium Minerals, Inc. (“AMLM”) entered into an Earn-In Agreement with Altair (ATAO) International Corp. ATAO (“Altair”). under which Altair must make total payments of $75,000 to obtain a 10% undivided interest in 63 unpatented placer mining claims comprised of approximately 1,260 acres in Nevada, commonly known as the Stonewall Flat Lithium Project. The $75,000 has been paid by Altair. Altair has the option to increase its ownership interest by an additional 50% by a total payment of $1,300,648 for exploration and development costs as follows: $100,648 within year one for an additional 10/%, $600,000 in year two for an additional 20%, and $600,000 in year three for an additional 20% ownership interest. The foregoing description of the Earn-In Agreement does not purport to be complete and is qualified in its entirety by reference to the Agreement which is filed as Exhibit A to this Supplemental.
An Earn-In Agreement dated November 23, 2020, Filed Herewith Dated: January 7, 2021 American Lithium Minerals, Inc /s/ Barbara McIntyre Bauman Barbara McIntyre Bauman President