This is not confirmed to actually be related to the Spider-Man reboot, but it is strongly likely. The Hollywood Reporter made clear in its article reporting John Slattery and Sam Elliott were in talks to play J. Jonah Jameson; and that currently the reboot is under the name "Untitled Teen/Action Film".
Now this video shows a young kid actor Stuart Allan, who does not seem to have a resume, auditioning for a role as "Billy" in "Untitled Teen/Action Film." The way the scene plays out, it is almost without question meant to be between Billy and his father, Dr. Curt Connors who becomes the Lizard. What is major about this video, however, is that this is clearly a confirmation that The Lizard is the villain. HELL YES!
Stuart Allan: Audition for Untitled Teen Action Film -- Role of Billy from Stuart Allan on Vimeo.
Now on to the next bit of news. I reported not too long ago that Chris Zylka was cast in an unspecified role in the "Spider-Man" reboot. Well, after some digging, Chris was tweeted a congratulations for getting role in the "Spider-Man" film, and what did Chris tweet back? "Thank you." Confirmation? I think so!
Also, I was tipped by a friend that Chris Zylka will indeed play Eugene "Flash" Thompson. I don't want to get into specifics!
"Spider-Man" is expected for release July 3, 2012 directed by Marc Webb, starring Andrew Garfield (Peter Parker/Spider-Man), Emma Stone (Gwen Stacy), Rhys Ifans (Dr. Curt Connors/The Lizard), Sally Field (Aunt May Parker), Martin Sheen (Uncle Ben Parker), Chris Zylka (Eugene "Flash" Thompson?) with rumors saying Zooey Deschanel (Betty Brant) and Denis Leary (Captain George Stacy) as well as possibly Stuart Allan (Billy Connors).