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10-Q Filing

AMERICAN RESOURCES CORP CIK: 1590715 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001477932-22-003505
Period End Date 20220331
Filing Date 20220516
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance arec_10q_htm.xml
Filing Contents
Balance Sheet 85 line items
Line Item Tag Value Unit Period
Unamortized Discount, Current Portion Of Notes Payable DebtInstrumentUnamortizedDiscountCurrent - USD Point-in-time
Unamortized Discount, Current Portion Of Notes Payable DebtInstrumentUnamortizedDiscountCurrent $18.11K USD Point-in-time
Unamortized Discount, Current Portion Of Convertible Notes Payable UnamortizedDiscountCurrentPortionOfConvertibleNotesPayable $22.55K USD Point-in-time
Unamortized Discount, Current Portion Of Convertible Notes Payable UnamortizedDiscountCurrentPortionOfConvertibleNotesPayable - USD Point-in-time
Cash Cash $7.10M USD Point-in-time
Cash Cash $5.22M USD Point-in-time
Common Stock, Par Value CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Common Stock, Par Value CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Cash Cash $11.49M USD Point-in-time
Common Stock, Shares Authorized CommonStockSharesAuthorized 230.00M shares Point-in-time
Common Stock, Shares Authorized CommonStockSharesAuthorized 230.00M shares Point-in-time
Accounts Receivable AccountsReceivableNetCurrent $2.86M USD Point-in-time
Accounts Receivable AccountsReceivableNetCurrent $3.18M USD Point-in-time
Inventory InventoryNet - USD Point-in-time
Inventory InventoryNet $1.24M USD Point-in-time
Common Stock, Shares Issued CommonStockSharesIssued 65.08M shares Point-in-time
Common Stock, Shares Issued CommonStockSharesIssued 66.16M shares Point-in-time
Common Stock, Shares Outstanding CommonStockSharesOutstanding 65.08M shares Point-in-time
Prepaid Fees PrepaidExpenseCurrent $624.61K USD Point-in-time
Common Stock, Shares Outstanding CommonStockSharesOutstanding 66.16M shares Point-in-time
Prepaid Fees PrepaidExpenseCurrent $1.58M USD Point-in-time
Total Current Assets AssetsCurrent $10.89M USD Point-in-time
Total Current Assets AssetsCurrent $15.29M USD Point-in-time
Cash - Restricted RestrictedCashAndCashEquivalentsNoncurrent $1.09M USD Point-in-time
Cash - Restricted RestrictedCashAndCashEquivalentsNoncurrent $1.10M USD Point-in-time
Property And Equipment, Net PropertyPlantAndEquipmentNet $22.90M USD Point-in-time
Property And Equipment, Net PropertyPlantAndEquipmentNet $22.70M USD Point-in-time
Long-term Right Of Use Assets, Net OperatingLeaseRightOfUseAsset $704.63K USD Point-in-time
Long-term Right Of Use Assets, Net OperatingLeaseRightOfUseAsset - USD Point-in-time
Long-term Right Of Use Assets, Net OperatingLeaseRightOfUseAsset $726.19K USD Point-in-time
Investment In Llc - Related Party Investments $2.50M USD Point-in-time
Investment In Llc - Related Party Investments $250.00K USD Point-in-time
Investment In Llc - Related Party Investments $2.50M USD Point-in-time
Note Receivable NotesReceivableNet $350.00K USD Point-in-time
Note Receivable NotesReceivableNet $685.00K USD Point-in-time
Total Other Assets OtherAssets $27.57M USD Point-in-time
Total Other Assets OtherAssets $27.67M USD Point-in-time
Total Assets Assets $38.56M USD Point-in-time
Total Assets Assets $42.87M USD Point-in-time
Trade Payable TradePayables $3.25M USD Point-in-time
Trade Payable TradePayables $3.01M USD Point-in-time
Non-trade Payables NonTradePayables $1.79M USD Point-in-time
Non-trade Payables NonTradePayables $1.95M USD Point-in-time
Accounts Payable - Related Party AccountsPayableRelatedPartiesCurrent $3.24M USD Point-in-time
Accounts Payable - Related Party AccountsPayableRelatedPartiesCurrent $3.93M USD Point-in-time
Accrued Interest AccruedLiabilitiesCurrent $1.00M USD Point-in-time
Accrued Interest AccruedLiabilitiesCurrent $1.33M USD Point-in-time
Due To Affiliate, Net DueToAffiliateCurrent $69.00K USD Point-in-time
Due To Affiliate, Net DueToAffiliateCurrent $69.00K USD Point-in-time
Current Portion Of Long Term-debt LongTermDebtCurrent $3.74M USD Point-in-time
Current Portion Of Long Term-debt LongTermDebtCurrent $5.28M USD Point-in-time
Convertible Note Payables (net Of Unamortized Discount Of $0 And $18,106) ConvertibleNotesPayableCurrent $8.91M USD Point-in-time
Convertible Note Payables (net Of Unamortized Discount Of $0 And $18,106) ConvertibleNotesPayableCurrent $571.62K USD Point-in-time
Current Portion Of Lease Liabilities, Net OperatingLeaseLiabilityCurrent $80.86K USD Point-in-time
Current Portion Of Lease Liabilities, Net OperatingLeaseLiabilityCurrent $151.81K USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $21.84M USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $16.53M USD Point-in-time
Notes Payable OtherNotesPayable $534.54K USD Point-in-time
Notes Payable OtherNotesPayable $548.48K USD Point-in-time
Convertible Note Payables (net Of Unamortized Discount Of $0 And $22,549) ConvertibleNotesPayable - USD Point-in-time
Convertible Note Payables (net Of Unamortized Discount Of $0 And $22,549) ConvertibleNotesPayable $8.62M USD Point-in-time
Remediation Liability AccruedReclamationCostsCurrent $18.95M USD Point-in-time
Remediation Liability AccruedReclamationCostsCurrent $19.22M USD Point-in-time
Lease Liabilities, Net LeaseLiabilitiesNet $614.71K USD Point-in-time
Lease Liabilities, Net LeaseLiabilitiesNet $562.43K USD Point-in-time
Total Other Liabilities OtherLiabilities $20.37M USD Point-in-time
Total Other Liabilities OtherLiabilities $28.68M USD Point-in-time
Total Liabilities Liabilities $42.21M USD Point-in-time
Total Liabilities Liabilities $45.21M USD Point-in-time
Common Stock: $.0001 Par Value; 230,000,000 Shares Authorized, 66,156,417 And 65,084,992 Shares Issued And Outstanding CommonStockValue $6.62K USD Point-in-time
Common Stock: $.0001 Par Value; 230,000,000 Shares Authorized, 66,156,417 And 65,084,992 Shares Issued And Outstanding CommonStockValue $6.51K USD Point-in-time
Additional Paid-in Capital AdditionalPaidInCapital $164.89M USD Point-in-time
Additional Paid-in Capital AdditionalPaidInCapital $163.44M USD Point-in-time
Accumulated Deficit RetainedEarningsAccumulatedDeficit $-168.54M USD Point-in-time
Accumulated Deficit RetainedEarningsAccumulatedDeficit $-165.79M USD Point-in-time
Total American Resources Corporation Shareholders' Equity TotalAmericanResourcesCorporationShareholdersEquity $-3.64M USD Point-in-time
Total American Resources Corporation Shareholders' Equity TotalAmericanResourcesCorporationShareholdersEquity $-2.35M USD Point-in-time
Non Controlling Interesting MinorityInterest - USD Point-in-time
Non Controlling Interesting MinorityInterest $-7.88K USD Point-in-time
Total Stockholders' Equity (deficit) StockholdersEquity $-3.65M USD Point-in-time
Total Stockholders' Equity (deficit) StockholdersEquity $-12.61M USD Point-in-time
Total Stockholders' Equity (deficit) StockholdersEquity $-2.35M USD Point-in-time
Total Stockholders' Equity (deficit) StockholdersEquity $-20.01M USD Point-in-time
Total Liabilities And Stockholders' Equity (deficit) LiabilitiesAndStockholdersEquity $38.56M USD Point-in-time
Total Liabilities And Stockholders' Equity (deficit) LiabilitiesAndStockholdersEquity $42.87M USD Point-in-time
Income Statement 49 line items
Line Item Tag Value Unit Period
Coal Sales CoalSales $9.03M USD 1 Quarter
Coal Sales CoalSales $3.27K USD 1 Quarter
Metal Recovery And Sales MetalRecoveryAndSales - USD 1 Quarter
Metal Recovery And Sales MetalRecoveryAndSales $37.23K USD 1 Quarter
Royalty Income RoyaltyIncome $12.14K USD 1 Quarter
Royalty Income RoyaltyIncome $7.37K USD 1 Quarter
Total Revenue Revenues $9.08M USD 1 Quarter
Total Revenue Revenues $10.65K USD 1 Quarter
Cost Of Coal Sales And Processing CostOfRevenue $800.51K USD 1 Quarter
Cost Of Coal Sales And Processing CostOfRevenue $2.89M USD 1 Quarter
Accretion Expense AccretionExpense $305.64K USD 1 Quarter
Accretion Expense AccretionExpense $267.62K USD 1 Quarter
Depreciation Depreciation $626.04K USD 1 Quarter
Depreciation Depreciation $393.53K USD 1 Quarter
Amortization Of Mining Rights AmortizationOfIntangibleAssets $303.39K USD 1 Quarter
Amortization Of Mining Rights AmortizationOfIntangibleAssets $311.69K USD 1 Quarter
General And Administrative GeneralAndAdministrativeExpense $1.02M USD 1 Quarter
General And Administrative GeneralAndAdministrativeExpense $1.08M USD 1 Quarter
Professional Fees ProfessionalFees $710.03K USD 1 Quarter
Professional Fees ProfessionalFees $350.94K USD 1 Quarter
Production Taxes And Royalties RoyaltyExpense $819.48K USD 1 Quarter
Production Taxes And Royalties RoyaltyExpense $568.18K USD 1 Quarter
Development Costs DevelopmentCosts $6.78M USD 1 Quarter
Development Costs DevelopmentCosts $1.81M USD 1 Quarter
Total Operating Expenses OperatingExpenses $-5.98M USD 1 Quarter
Total Operating Expenses OperatingExpenses $-13.06M USD 1 Quarter
Net Loss From Operations OperatingIncomeLoss $-5.97M USD 1 Quarter
Net Loss From Operations OperatingIncomeLoss $-3.98M USD 1 Quarter
Other Income NonoperatingIncomeExpense $82.16K USD 1 Quarter
Other Income NonoperatingIncomeExpense $35.30K USD 1 Quarter
Gain On Cancelation Of Debt GainOnCancelationOfDebt $1.52M USD 1 Quarter
Amortization Of Debt Discount And Debt Issuance Costs AmortizationOfDebtDiscountAndDebtIssuanceCosts - USD 1 Quarter
Amortization Of Debt Discount And Debt Issuance Costs AmortizationOfDebtDiscountAndDebtIssuanceCosts $2.88K USD 1 Quarter
Interest Income InterestIncomeOperating $41.17K USD 1 Quarter
Interest Income InterestIncomeOperating $10.04K USD 1 Quarter
Interest Expense InterestExpense $491.11K USD 1 Quarter
Interest Expense InterestExpense $383.70K USD 1 Quarter
Total Other Income (expense) OtherNonoperatingIncomeExpense $-417.52K USD 1 Quarter
Total Other Income (expense) OtherNonoperatingIncomeExpense $1.23M USD 1 Quarter
Net Loss NetIncomeLoss $-2.75M USD 1 Quarter
Net Loss NetIncomeLoss $-6.39M USD 1 Quarter
Less: Net Loss Attributable To Non Controlling Interest NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Less: Net Loss Attributable To Non Controlling Interest NetIncomeLossAttributableToNoncontrollingInterest $7.88K USD 1 Quarter
Net Loss Attributable To American Resources Corp. Shareholders IncomeLossAttributableToParent $-6.39M USD 1 Quarter
Net Loss Attributable To American Resources Corp. Shareholders IncomeLossAttributableToParent $-2.75M USD 1 Quarter
Net Loss Per Common Share - Basic And Diluted NetLossPerCommonShareBasicAndDiluted $-0.14 USD 1 Quarter
Net Loss Per Common Share - Basic And Diluted NetLossPerCommonShareBasicAndDiluted $-0.04 USD 1 Quarter
Weighted Average Common Shares Outstanding- Basic And Diluted WeightedAverageCommonSharesOutstandingBasicsAndDiluted 65.25M shares 1 Quarter
Weighted Average Common Shares Outstanding- Basic And Diluted WeightedAverageCommonSharesOutstandingBasicsAndDiluted 46.92M shares 1 Quarter
Cash Flow Statement 70 line items
Line Item Tag Value Unit Period
Net Loss NetIncomeLoss $-2.75M USD 1 Quarter
Net Loss NetIncomeLoss $-6.39M USD 1 Quarter
Gain On Forgiveness Of Debt GainsLossesOnExtinguishmentOfDebt $1.52M USD 1 Quarter
Gain On Forgiveness Of Debt GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Depreciation Depreciation $626.04K USD 1 Quarter
Depreciation Depreciation $393.53K USD 1 Quarter
Amortization Of Mining Rights AmortizationOfIntangibleAsset $311.69K USD 1 Quarter
Amortization Of Mining Rights AmortizationOfIntangibleAsset $303.39K USD 1 Quarter
Accretion Expense AccretionExpense $305.64K USD 1 Quarter
Accretion Expense AccretionExpense $267.62K USD 1 Quarter
Accretion Of Right Of Use Assets OperatingLeaseRightOfUseAssetAmortizationExpense $2.90K USD 1 Quarter
Accretion Of Right Of Use Assets OperatingLeaseRightOfUseAssetAmortizationExpense - USD 1 Quarter
Warrant Expense FairValueAdjustmentOfWarrants $199.84K USD 1 Quarter
Warrant Expense FairValueAdjustmentOfWarrants $115.03K USD 1 Quarter
Issuance Of Common Share Options For Compensation IssuanceOfCommonShareOptionsForCompensation $147.00K USD 1 Quarter
Issuance Of Common Share Options For Compensation IssuanceOfCommonShareOptionsForCompensation - USD 1 Quarter
Amortization Of Beneficial Conversion Feature AmortizationOfBeneficialConversionFeature - USD 1 Quarter
Amortization Of Beneficial Conversion Feature AmortizationOfBeneficialConversionFeature $590.46K USD 1 Quarter
Issuance Of Common Shares For Services IssuanceOfCommonSharesForServices $188.00K USD 1 Quarter
Issuance Of Common Shares For Services IssuanceOfCommonSharesForServices - USD 1 Quarter
Accounts Receivable IncreaseDecreaseInAccountsReceivable $319.31K USD 1 Quarter
Accounts Receivable IncreaseDecreaseInAccountsReceivable $35.38K USD 1 Quarter
Prepaid Expenses And Other Assets IncreaseDecreaseInPrepaidExpense $66.67K USD 1 Quarter
Prepaid Expenses And Other Assets IncreaseDecreaseInPrepaidExpense $951.41K USD 1 Quarter
Inventory IncreaseDecreaseInInventories - USD 1 Quarter
Inventory IncreaseDecreaseInInventories $1.24M USD 1 Quarter
Accounts Payable IncreaseDecreaseInAccountsPayable $-393.87K USD 1 Quarter
Accounts Payable IncreaseDecreaseInAccountsPayable $-1.61M USD 1 Quarter
Accounts Payable Related Party IncreaseDecreaseInAccountsPayableRelatedParties $33.73K USD 1 Quarter
Accounts Payable Related Party IncreaseDecreaseInAccountsPayableRelatedParties $-691.61K USD 1 Quarter
Accrued Interest IncreaseDecreaseInInterestPayableNet $-796.25K USD 1 Quarter
Accrued Interest IncreaseDecreaseInInterestPayableNet $94.44K USD 1 Quarter
Cash Provided By (used In) Operating Activities NetCashProvidedByUsedInOperatingActivities $-6.75M USD 1 Quarter
Cash Provided By (used In) Operating Activities NetCashProvidedByUsedInOperatingActivities $-5.73M USD 1 Quarter
Cash Paid For Ppe, Net CashPaidForPpeNet $724.90K USD 1 Quarter
Cash Paid For Ppe, Net CashPaidForPpeNet $565.00K USD 1 Quarter
Capitalized interest InterestPaidCapitalized $267.88K USD 1 Quarter
Cash Invested In Notes Receivable CashInvestedInNoteReceivable $335.00K USD 1 Quarter
Investment In Llc InvestmentInLlcs - USD 1 Quarter
Investment In Llc InvestmentInLlcs $2.27M USD 1 Quarter
Cash Provided By (used In) Investing Activities NetCashProvidedByUsedInInvestingActivities $-792.02K USD 1 Quarter
Cash Provided By (used In) Investing Activities NetCashProvidedByUsedInInvestingActivities $-2.84M USD 1 Quarter
Principal Payments On Long Term Debt RepaymentsOfLongTermDebt $62.29K USD 1 Quarter
Principal Payments On Long Term Debt RepaymentsOfLongTermDebt $39.56K USD 1 Quarter
Issuance Of Common Shares For Debt And Payable Conversion ProceedsFromIssuanceOrSaleOfEquity $2.00M USD 1 Quarter
Issuance Of Common Shares For Debt And Payable Conversion ProceedsFromIssuanceOrSaleOfEquity - USD 1 Quarter
Proceeds From Convertible Note ProceedsFromConvertibleDebt - USD 1 Quarter
Proceeds From Convertible Note ProceedsFromConvertibleDebt $1.62M USD 1 Quarter
Proceeds From Warrant Conversions ProceedsFromWarrantExercises $280.88K USD 1 Quarter
Proceeds From Warrant Conversions ProceedsFromWarrantExercises $2.06M USD 1 Quarter
Proceeds From Sale Of Common Stock, Net ProceedsFromIssuanceOfCommonStock $1.11M USD 1 Quarter
Proceeds From Sale Of Common Stock, Net ProceedsFromIssuanceOfCommonStock - USD 1 Quarter
Cash Provided By Financing Activities NetCashProvidedByUsedInFinancingActivities $241.32K USD 1 Quarter
Cash Provided By Financing Activities NetCashProvidedByUsedInFinancingActivities $6.72M USD 1 Quarter
Increase (decrease) In Cash And Restricted Cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-6.28M USD 1 Quarter
Increase (decrease) In Cash And Restricted Cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-2.87M USD 1 Quarter
Cash And Restricted Cash, Beginning Of Period CashAndCashEquivalentsAtCarryingValue $8.33M USD Point-in-time
Cash And Restricted Cash, Beginning Of Period CashAndCashEquivalentsAtCarryingValue $6.30M USD Point-in-time
Cash And Restricted Cash, Beginning Of Period CashAndCashEquivalentsAtCarryingValue $11.20M USD Point-in-time
Cash And Restricted Cash, Beginning Of Period CashAndCashEquivalentsAtCarryingValue $12.59M USD Point-in-time
Cash And Restricted Cash, End Of Period CashAndCashEquivalentsAtCarryingValue $8.33M USD Point-in-time
Cash And Restricted Cash, End Of Period CashAndCashEquivalentsAtCarryingValue $6.30M USD Point-in-time
Cash And Restricted Cash, End Of Period CashAndCashEquivalentsAtCarryingValue $11.20M USD Point-in-time
Cash And Restricted Cash, End Of Period CashAndCashEquivalentsAtCarryingValue $12.59M USD Point-in-time
Conversion Of Debt To Common Shares ConversionOfDebtToCommonShares $2.00M USD 1 Quarter
Conversion Of Debt To Common Shares ConversionOfDebtToCommonShares $1.01M USD 1 Quarter
Discount On Note Due To Beneficial Conversion Feature IssuanceOfWarrantsInConjunctionWithConvertibleNotesDiscountOnNoteDueToBeneficialConversionFeature $715.74K USD 1 Quarter
Discount On Note Due To Beneficial Conversion Feature IssuanceOfWarrantsInConjunctionWithConvertibleNotesDiscountOnNoteDueToBeneficialConversionFeature - USD 1 Quarter
Cash Paid For Interest CashPaidForInterestWarrantExerciseForCommonShares $42.43K USD 1 Quarter
Cash Paid For Interest CashPaidForInterestWarrantExerciseForCommonShares $3.73K USD 1 Quarter
Stockholders Equity 20 line items
Line Item Tag Value Unit Period
Balance, amount StockholdersEquity $-3.65M USD Point-in-time
Balance, amount StockholdersEquity $-12.61M USD Point-in-time
Balance, amount StockholdersEquity $-2.35M USD Point-in-time
Balance, amount StockholdersEquity $-20.01M USD Point-in-time
Shares issued in connection with registered offering, amount SharesIssuedInConnectionWithRegisteredOfferingAmount $1.27M USD 1 Quarter
Shares issued in connection with warrant conversions, amount SharesIssuedInConnectionWithWarrantConversionsAmount $2.06M USD 1 Quarter
Shares issued in connection with warrant conversions, amount SharesIssuedInConnectionWithWarrantConversionsAmount $280.88K USD 1 Quarter
Shares issued for services, amount StockIssuedDuringPeriodValueIssuedForServices $188.00K USD 1 Quarter
Shares issued in connection with debt and payable conversions, amount SharesIssuedInConnectionWithDebtAndPayableConversionsAmount $9.85M USD 1 Quarter
Amortization of debt discount AmortizationOfDebtDiscountPremium $-163.30K USD 1 Quarter
Amortization of Warrant and Option Expense AmortizationOfWarrantAndOptionExpense $262.02K USD 1 Quarter
Net Loss NetIncomeLoss $-2.75M USD 1 Quarter
Net Loss NetIncomeLoss $-6.39M USD 1 Quarter
Amortization of beneficial conversion features AmortizationOfBeneficialConversionFeatures $-40.66K USD 1 Quarter
Shares issued in connection with debt conversions, amount SharesIssuedInConnectionWithDebtConversionsAmount $1.01M USD 1 Quarter
Amortization of Warrant and Stock Option Expense AmortizationOfWarrantAndStockOptionExpense $199.84K USD 1 Quarter
Balance, amount StockholdersEquity $-3.65M USD Point-in-time
Balance, amount StockholdersEquity $-12.61M USD Point-in-time
Balance, amount StockholdersEquity $-2.35M USD Point-in-time
Balance, amount StockholdersEquity $-20.01M USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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