That's true.
http://www.sos.ca.gov/elections/elections_t.htm
It would definitely require many many volunteers and some time to get the signatures necessary.
"Political parties are currently qualified to participate in the party nominating process called the Presidential Primary and Statewide Direct Primary elections. They are, in alphabetical order: American Independent, Democratic, Green, Libertarian, Peace and Freedom, and Republican.
Political bodies can qualify by registration or by petition for the two 2008 primary elections. The number of registrants or petition signers is based on a percentage of the number of persons (8,899,059) who voted at the November 7, 2006 General Election.
To qualify a new political party by registration requires that 88,991 persons (one percent) complete an affidavit of registration, on which they have written in the proposed party name as the party they affiliate with. These affidavits of registration must be completed and mailed in by the 154th day before the February 5, 2008 or June 3, 2008 primary election dates.
To qualify a new political party by petition requires that 889,906 persons (ten percent) sign a petition seeking the inclusion of the proposed party in the party nominating process at either the February 5, 2008 or June 3, 2008 primary elections. These petitions must be filed with the several counties by the proponent in such time that the counties verify the signatures and certify the counts to the Secretary of State who certifies the proposed party's qualification not later than the 135th day before the February 5, 2008 or June 3, 2008 primary election dates.
A process, allowing political bodies to become political parties, is contained in Division 5 of the Elections Code (included below). To begin the process of qualifying, a political body should follow the procedure spelled out in Sections 5001 through 5003."
After the stimulus fails to turn the economy around and stagflation hits hard, we will probably be able to form a nucleus to get the ball rolling.