American Lithium (TSXV:LI) Beneish M-Score

: 0.00 (As of Today)

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The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

The historical rank and industry rank for American Lithium's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of American Lithium was 0.00. The lowest was 0.00. And the median was 0.00.

American Lithium Beneish M-Score Historical Data

The historical data trend for American Lithium's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

American Lithium Annual Data

Trend

Feb14

Feb15

Feb16

Feb17

Feb18

Feb19

Feb20

Feb21

Feb22

Feb23

Beneish M-Score

American Lithium Quarterly Data
	Feb19	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23
Beneish M-Score																-	-	-	-	-

Competitive Comparison

For the Other Industrial Metals & Mining subindustry, American Lithium's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

American Lithium Beneish M-Score Distribution

For the Metals & Mining industry and Basic Materials sector, American Lithium's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where American Lithium's Beneish M-Score falls into.

American Lithium Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of American Lithium for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Nov23) TTM:

Last Year (Nov22) TTM:

Total Receivables was C$0.49 Mil.
Revenue was 0 + 0 + 0 + 0 = C$0.00 Mil.
Gross Profit was -0.033 + -0.031 + -0.029 + -0.024 = C$-0.12 Mil.
Total Current Assets was C$23.56 Mil.
Total Assets was C$177.18 Mil.
Property, Plant and Equipment(Net PPE) was C$150.85 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.12 Mil.
Selling, General, & Admin. Expense(SGA) was C$24.66 Mil.
Total Current Liabilities was C$2.20 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.09 Mil.
Net Income was -11.184 + -10.581 + -11.126 + -10.191 = C$-43.08 Mil.
Non Operating Income was -2.621 + 1.486 + -0.045 + 0.972 = C$-0.21 Mil.
Cash Flow from Operations was -4.761 + -6.662 + -6.932 + -7.699 = C$-26.05 Mil.

Total Receivables was C$0.27 Mil.
Revenue was 0 + 0 + 0 + 0 = C$0.00 Mil.
Gross Profit was -0.023 + -0.023 + -0.022 + -0.025 = C$-0.09 Mil.
Total Current Assets was C$38.25 Mil.
Total Assets was C$183.92 Mil.
Property, Plant and Equipment(Net PPE) was C$145.06 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.09 Mil.
Selling, General, & Admin. Expense(SGA) was C$17.14 Mil.
Total Current Liabilities was C$2.19 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.17 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(0.485 / 0)	/	(0.265 / 0)
	=		/
	=

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(-0.093 / 0)	/	(-0.117 / 0)
	=		/
	=

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (23.56 + 150.846) / 177.179)	/	(1 - (38.251 + 145.058) / 183.915)
	=	0.015651	/	0.003295
	=

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	0	/	0
	=

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(0.093 / (0.093 + 145.058))	/	(0.117 / (0.117 + 150.846))
	=	0.000641	/	0.000775
	=

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(24.662 / 0)	/	(17.136 / 0)
	=		/
	=

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((0.088 + 2.195) / 177.179)	/	((0.171 + 2.192) / 183.915)
	=	0.012885	/	0.012848
	=

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(-43.082 - -0.208	-	-26.054)	/	177.179
	=	-0.094932

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

American Lithium Beneish M-Score Related Terms

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American Lithium (TSXV:LI) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » American Lithium Corp (TSXV:LI) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

AMLI:USA 5LA1:Germany

Address

1030 West Georgia Street, Suite 710, Vancouver, BC, CAN, V6E 2Y3

Website

https://www.americanlithiumcorp.com

American Lithium Corp is an exploration-stage company. It is engaged in the development of large-scale lithium projects within mining-friendly jurisdictions throughout the Americas. Its current focus is on developing its strategically located TLC lithium claystone project in the richly mineralized Esmeralda lithium district in Nevada, enabling the shift to a new energy paradigm. In addition, Falchani lithium and Macusani uranium development-stage projects are being advanced in southeastern Peru.