10-Q Filing

AMERICAN RESOURCES CORP CIK: 1590715 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001590715-15-000053`
Period End Date	20150331
Filing Date	20150513
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	none-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 39 Income Statement 53 Cash Flow Statement 32 Stockholders Equity 5

Balance Sheet 39 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalent	`CashAndCashEquivalentsAtCarryingValue`	$82.82K	USD	Point-in-time
Cash and cash equivalent	`CashAndCashEquivalentsAtCarryingValue`	$154.70K	USD	Point-in-time
Cash and cash equivalent	`CashAndCashEquivalentsAtCarryingValue`	$131.06K	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$45.79K	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$27.56K	USD	Point-in-time
Loan receivable related parties	`LoansAndLeasesReceivableRelatedParties`	$150.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$110.38K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$176.99K	USD	Point-in-time
Software, net	`CapitalizedComputerSoftwareNet`	$4.50K	USD	Point-in-time
Goodwill	`Goodwill`	$456.39K	USD	Point-in-time
Customer list-net of amortization	`FiniteLivedCustomerListsGross`	$145.83K	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total other assets	`OtherAssets`	$602.22K	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total assets	`Assets`	$783.71K	USD	Point-in-time
Total assets	`Assets`	$110.38K	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesNoncurrent`	$600.00	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesNoncurrent`	$2.70K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Loan payable officer	`AccountsPayableRelatedPartiesCurrent`	$23.96K	USD	Point-in-time
Loan payable officer	`AccountsPayableRelatedPartiesCurrent`	$3.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$26.66K	USD	Point-in-time
Class A Common stock: $.0001 par value; 230,000,000 shares authorized, 16,172,334 shares issued and outstanding	`CommonStockClassA`	$1.62K	USD	Point-in-time
Class A Common stock: $.0001 par value; 230,000,000 shares authorized, 16,172,334 shares issued and outstanding	`CommonStockClassA`	$1.26K	USD	Point-in-time
Class B Common stock: $.0001 par value; 60,000,000 shares authorized, 7,000,000 shares issued and outstanding	`CommonStockClassB`	$700.00	USD	Point-in-time
Class B Common stock: $.0001 par value; 60,000,000 shares authorized, 7,000,000 shares issued and outstanding	`CommonStockClassB`	$700.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$194.35K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$729.84K	USD	Point-in-time
Retained earnings (deficit)	`RetainedEarningsAccumulatedDeficit`	$-140.95K	USD	Point-in-time
Retained earnings (deficit)	`RetainedEarningsAccumulatedDeficit`	$-88.93K	USD	Point-in-time
Total NGFC stockholders' equity (deficit)	`StockholdersEquityAttributableToParentNotAllowableForNetCapital`	$591.21K	USD	Point-in-time
Total NGFC stockholders' equity (deficit)	`StockholdersEquityAttributableToParentNotAllowableForNetCapital`	$107.38K	USD	Point-in-time
Non Controlling Interest	`MinorityInterest`	$165.84K	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$757.04K	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$107.38K	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$783.71K	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$110.38K	USD	Point-in-time

Income Statement 53 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$13.20K	USD	1 Quarter
Revenue	`Revenues`	$13.20K	USD	2 Qtrs
Purchase of accessories	`CostOfGoodsAndServicesSold`	$12.35K	USD	1 Quarter
Purchase of accessories	`CostOfGoodsAndServicesSold`	$12.35K	USD	2 Qtrs
Gross profits	`GrossProfit`	$853.00	USD	2 Qtrs
Gross profits	`GrossProfit`	$853.00	USD	1 Quarter
Legal fees	`LegalFees`	$12.55K	USD	2 Qtrs
Legal fees	`LegalFees`	$7.95K	USD	2 Qtrs
Legal fees	`LegalFees`	$1.75K	USD	1 Quarter
Legal fees	`LegalFees`	$1.75K	USD	1 Quarter
Accounting fees	`ProfessionalFees`	$54.00	USD	1 Quarter
Accounting fees	`ProfessionalFees`	$6.75K	USD	2 Qtrs
Accounting fees	`ProfessionalFees`	$54.00	USD	1 Quarter
Accounting fees	`ProfessionalFees`	$4.75K	USD	2 Qtrs
Officers' Compensation	`OfficersCompensation`	$10.80K	USD	2 Qtrs
Officers' Compensation	`OfficersCompensation`	$9.80K	USD	1 Quarter
Officers' Compensation	`OfficersCompensation`	$6.80K	USD	1 Quarter
Officers' Compensation	`OfficersCompensation`	$15.00K	USD	2 Qtrs
Depreciation & amoritzation	`DepreciationDepletionAndAmortization`	$4.67K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$14.20K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$8.85K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$20.11K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$5.92K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$14.53K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$42.30K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$20.46K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$54.48K	USD	2 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-19.60K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-42.30K	USD	2 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-53.63K	USD	2 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-14.53K	USD	1 Quarter
Realized gain on marketable securities	`MarketableSecuritiesRealizedGainLoss`	$1.19K	USD	2 Qtrs
Unrealized loss on marketable securities	`UnrealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments`	$-2.20K	USD	2 Qtrs
Dividends received	`ProceedsFromDividendsReceived`	$333.00	USD	2 Qtrs
Total other income	`OtherIncome`	$-677.00	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-14.53K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-54.30K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-19.60K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-42.30K	USD	2 Qtrs
Less: Net Loss attributable to the Non Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$2.29K	USD	1 Quarter
Less: Net Loss attributable to the Non Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$2.29K	USD	2 Qtrs
Net loss attributable to NGFC Shareholders	`IncomeLossAttributableToParent`	$-17.32K	USD	1 Quarter
Net loss attributable to NGFC Shareholders	`IncomeLossAttributableToParent`	$-52.02K	USD	2 Qtrs
Net loss attributable to NGFC Shareholders	`IncomeLossAttributableToParent`	$-42.30K	USD	2 Qtrs
Net loss attributable to NGFC Shareholders	`IncomeLossAttributableToParent`	$-14.53K	USD	1 Quarter
Net loss attributable to NGFC basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net loss attributable to NGFC basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Net loss attributable to NGFC basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net loss attributable to NGFC basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Basic and diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	18.43M	shares	2 Qtrs
Basic and diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.27M	shares	2 Qtrs
Basic and diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	18.43M	shares	1 Quarter
Basic and diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.27M	shares	1 Quarter

Cash Flow Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-14.53K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-54.30K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-19.60K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-42.30K	USD	2 Qtrs
Unrealized loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$2.20K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$4.67K	USD	2 Qtrs
Pre paid expenses	`PrepaidExpenseCurrentAndNoncurrent`	$2.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrentAndNoncurrent`	$-2.64K	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesNoncurrent`	$600.00	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesNoncurrent`	$2.70K	USD	Point-in-time
Net cash used in operating activities	`PaymentsForOperatingActivities`	$-41.70K	USD	2 Qtrs
Net cash used in operating activities	`PaymentsForOperatingActivities`	$-45.37K	USD	2 Qtrs
Cash received from ECIL	`CashAcquiredFromAcquisition`	$33.34K	USD	2 Qtrs
Purchase of software	`PaymentsToAcquireSoftware`	$-5.00K	USD	2 Qtrs
Loans to related parties	`PaymentsForLoans`	$-150.00	USD	2 Qtrs
Purchase of investments	`PaymentsToAcquireAvailableForSaleSecuritiesEquity`	$-20.43K	USD	2 Qtrs
Net cash used in investing activities	`PaymentsToAcquireInvestments`	$7.76K	USD	2 Qtrs
Procceds from issuance of debt	`ProceedsFromIssuanceOfUnsecuredDebt`	$90.00	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$196.31K	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$85.85K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$85.85K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$196.40K	USD	2 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$154.70K	USD	2 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$48.24K	USD	2 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$82.82K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$154.70K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$131.06K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$82.82K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$154.70K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$131.06K	USD	Point-in-time
Net assets purchased from ECIL	`PaymentsToAcquireAssetsInvestingActivities`	$584.78K	USD	2 Qtrs
Common stock issued for acquisition (Class A shares to ECIL)	`CommonStockClassAIssuedForEcil`	$450.00K	USD	Point-in-time

Stockholders Equity 5 line items

Line Item	Tag	Value	Unit	Period
Common stock issued for acquisition, value	`StockIssuedDuringPeriodValueAcquisitions`	$450.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-14.53K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-54.30K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-19.60K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-42.30K	USD	2 Qtrs

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