||Organization and Operations
Alpha-En Corporation (Company) was
incorporated in Delaware on March 7, 1997 and had operated through
its wholly-owned subsidiaries, Avenue Pictures, Inc. and its
subsidiaries and Wombat Productions, Inc. through May 2,
From May 2, 2006 through February 24, 2009,
the Company had been inactive.
On February 25, 2009, the Company was granted
a license for an exclusive, worldwide, transferable, perpetual
license to use certain proprietary technology for the processing of
lithium for use in batteries and other fields.
Commencing in October 2010, working through a
third party, the Company conducted a series of tests to determine
if the process works and, based on the results, believes that the
process is workable and commercially feasible (Note