10-Q Filing

AMERICAN RESOURCES CORP CIK: 1590715 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001590715-15-000068`
Period End Date	20150630
Filing Date	20150716
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	none-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 40 Income Statement 67 Cash Flow Statement 43 Stockholders Equity 12

Balance Sheet 40 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalent	`CashAndCashEquivalentsAtCarryingValue`	$75.85K	USD	Point-in-time
Cash and cash equivalent	`CashAndCashEquivalentsAtCarryingValue`	$301.18K	USD	Point-in-time
Cash and cash equivalent	`CashAndCashEquivalentsAtCarryingValue`	$82.82K	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$36.94K	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$27.56K	USD	Point-in-time
Stock subscription receivable - subsidiary	`StockSubscriptionReceivableSubsidiary2`	$450.00	USD	Point-in-time
Loan receivable related parties	`LoansAndLeasesReceivableRelatedParties`	$1.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$339.56K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$110.38K	USD	Point-in-time
Software, net	`CapitalizedComputerSoftwareNet`	$4.25K	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrentAndNoncurrent`	$2.50K	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Goodwill	`Goodwill`	$361.05K	USD	Point-in-time
Customer list-net of amortization	`FiniteLivedCustomerListsGross`	$133.33K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total other assets	`OtherAssets`	$496.88K	USD	Point-in-time
Total assets	`Assets`	$840.69K	USD	Point-in-time
Total assets	`Assets`	$110.38K	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesNoncurrent`	$3.30K	USD	Point-in-time
Loan payable officer	`AccountsPayableRelatedPartiesCurrent`	$3.00K	USD	Point-in-time
Loan payable officer	`AccountsPayableRelatedPartiesCurrent`	$18.55K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$21.85K	USD	Point-in-time
Class A Common stock: $.0001 par value; 230,000,000 shares authorized, 17,289,674 shares issued and outstanding	`CommonStockClassA`	$1.26K	USD	Point-in-time
Class A Common stock: $.0001 par value; 230,000,000 shares authorized, 17,289,674 shares issued and outstanding	`CommonStockClassA`	$1.73K	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`	$919.82K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$194.35K	USD	Point-in-time
Retained earnings (deficit)	`RetainedEarningsAccumulatedDeficit`	$-292.86K	USD	Point-in-time
Retained earnings (deficit)	`RetainedEarningsAccumulatedDeficit`	$-88.93K	USD	Point-in-time
Total NGFC stockholders' equity (deficit)	`StockholdersEquityAttributableToParentNotAllowableForNetCapital`	$629.39K	USD	Point-in-time
Total NGFC stockholders' equity (deficit)	`StockholdersEquityAttributableToParentNotAllowableForNetCapital`	$107.38K	USD	Point-in-time
Non Controlling Interest	`MinorityInterest`	$189.44K	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$818.83K	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$107.38K	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$840.69K	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$110.38K	USD	Point-in-time

Income Statement 67 line items

Line Item	Tag	Value	Unit	Period
Operating income	`OperatingIncomeLoss`	$45.79K	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$32.59K	USD	1 Quarter
Purchase of accessories	`CostOfGoodsAndServicesSold`	$12.00	USD	1 Quarter
Purchase of accessories	`CostOfGoodsAndServicesSold`	$12.36K	USD	3 Qtrs
Gross profits	`GrossProfit`	$33.43K	USD	3 Qtrs
Gross profits	`GrossProfit`	$32.58K	USD	1 Quarter
Legal fees	`LegalFees`	$10.41K	USD	3 Qtrs
Legal fees	`LegalFees`	$2.46K	USD	1 Quarter
Legal fees	`LegalFees`	$10.00K	USD	1 Quarter
Legal fees	`LegalFees`	$22.55K	USD	3 Qtrs
Accounting fees	`ProfessionalFees`	$3.00K	USD	1 Quarter
Accounting fees	`ProfessionalFees`	$10.05K	USD	3 Qtrs
Accounting fees	`ProfessionalFees`	$7.75K	USD	3 Qtrs
Accounting fees	`ProfessionalFees`	$3.30K	USD	1 Quarter
Officer compensation	`OfficersCompensation`	$17.75K	USD	1 Quarter
Officer compensation	`OfficersCompensation`	$16.80K	USD	3 Qtrs
Officer compensation	`OfficersCompensation`	$32.75K	USD	3 Qtrs
Officer compensation	`OfficersCompensation`	$6.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$17.42K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$12.75K	USD	1 Quarter
Consulting fees	`ConsultingFees`	$136.25K	USD	1 Quarter
Consulting fees	`ConsultingFees`	$142.75K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$17.26K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$9.53K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.65K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$23.73K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$70.83K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$28.53K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$176.16K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$230.64K	USD	3 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-143.58K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-70.83K	USD	3 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-28.53K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-197.21K	USD	3 Qtrs
Realized gain on marketable securities	`MarketableSecuritiesRealizedGainLoss`	$2.01K	USD	3 Qtrs
Realized gain on marketable securities	`MarketableSecuritiesRealizedGainLoss`	$2.01K	USD	1 Quarter
Realized gain on marketable securities	`MarketableSecuritiesRealizedGainLoss`	$1.04K	USD	1 Quarter
Realized gain on marketable securities	`MarketableSecuritiesRealizedGainLoss`	$2.24K	USD	3 Qtrs
Unrealized loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-3.07K	USD	3 Qtrs
Unrealized loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-867.00	USD	1 Quarter
Unrealized loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-1.35K	USD	3 Qtrs
Unrealized loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-1.35K	USD	1 Quarter
Dividends received	`ProceedsFromDividendsReceived`	$333.00	USD	3 Qtrs
Dividends received	`ProceedsFromDividendsReceived`	$60.00	USD	1 Quarter
Dividends received	`ProceedsFromDividendsReceived`	$60.00	USD	3 Qtrs
Total other income	`OtherIncome`	$718.00	USD	3 Qtrs
Total other income	`OtherIncome`	$-501.00	USD	3 Qtrs
Total other income	`OtherIncome`	$718.00	USD	1 Quarter
Total other income	`OtherIncome`	$176.00	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-197.71K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-70.11K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-143.41K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-27.81K	USD	1 Quarter
Less: Net Loss attributable to the Non Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-6.22K	USD	3 Qtrs
Less: Net Loss attributable to the Non Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-8.50K	USD	1 Quarter
Net loss attributable to NGFC Shareholders	`IncomeLossAttributableToParent`	$-203.93K	USD	3 Qtrs
Net loss attributable to NGFC Shareholders	`IncomeLossAttributableToParent`	$-70.11K	USD	3 Qtrs
Net loss attributable to NGFC Shareholders	`IncomeLossAttributableToParent`	$-27.81K	USD	1 Quarter
Net loss attributable to NGFC Shareholders	`IncomeLossAttributableToParent`	$-151.91K	USD	1 Quarter
Net loss attributable to NGFC basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	-	USD	3 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`	$-0.01	USD	3 Qtrs
Net loss attributable to NGFC basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	21.30M	shares	3 Qtrs
Basic and diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	18.82M	shares	3 Qtrs
Basic and diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	23.53M	shares	1 Quarter
Basic and diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.60M	shares	1 Quarter

Cash Flow Statement 43 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-197.71K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-70.11K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-143.41K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-27.81K	USD	1 Quarter
Unrealized loss - marketable securities	`UnrealizedLossMarketableSecurities1`	$1.35K	USD	3 Qtrs
Unrealized loss - marketable securities	`UnrealizedLossMarketableSecurities1`	$3.07K	USD	3 Qtrs
Realized gain - marketable securities	`RealizedGainMarketableSecurities1`	$-2.01K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$17.42K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$12.75K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$131.25K	USD	3 Qtrs
Prepaid expense	`PrepaidExpenseCurrent`	$2.00K	USD	Point-in-time
Other asset	`OtherAssetsCurrent`	$-2.50K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$-8.05K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesForCommissionsExpenseAndTaxes`	$3.30K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesForCommissionsExpenseAndTaxes`	$1.80K	USD	Point-in-time
Net cash used in operating activities	`PaymentsForOperatingActivities`	$-68.97K	USD	3 Qtrs
Net cash used in operating activities	`PaymentsForOperatingActivities`	$-51.23K	USD	3 Qtrs
Cash paid for available for sale securities	`PaymentsToAcquireAvailableForSaleSecurities`	$-236.66K	USD	3 Qtrs
Cash received from available for sale securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$185.08K	USD	3 Qtrs
Cash received from purchase of ECIL	`ProceedsFromPreviousAcquisition`	$33.34K	USD	3 Qtrs
Purchase of software	`PaymentsToAcquireSoftware`	$-5.00K	USD	3 Qtrs
Loans to related parties	`PaymentsForLoans`	$-1.00K	USD	3 Qtrs
Purchase of equity securities	`PaymentsToAcquireAvailableForSaleSecuritiesEquity`	$-12.45K	USD	3 Qtrs
Net cash used in investing activities	`PaymentsToAcquireInvestments`	$14.89K	USD	3 Qtrs
Net cash used in investing activities	`PaymentsToAcquireInvestments`	$-51.58K	USD	3 Qtrs
Common stock bought back, value	`StockRedeemedOrCalledDuringPeriodValue`	$90.00	USD	3 Qtrs
Common stock bought back, value	`StockRedeemedOrCalledDuringPeriodValue`	$-15.00	USD	3 Qtrs
Sale of subsidiary ownership interest for cash	`ProceedsFromSubsidiaryOwnershipInterestForCash`	$110.00K	USD	3 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$196.31K	USD	3 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$144.70K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$196.40K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$254.69K	USD	3 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$75.85K	USD	3 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$218.36K	USD	3 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$75.85K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$301.18K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$82.82K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$75.85K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$301.18K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$82.82K	USD	Point-in-time
Net assets purchased from ECIL	`PaymentsToAcquireAssetsInvestingActivities`	$489.44K	USD	3 Qtrs
Sale of subsidiary ownership for subscription receivable	`ProceedsFromSaleOfSubsidiaryOwnershipForSuscriptionReceivable`	$450.00	USD	3 Qtrs
Class A shares issued to ECIL	`CommonStockClassAIssuedForEcil`	$450.00K	USD	Point-in-time

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Minority ownership	`MinorityInterest`	$189.44K	USD	Point-in-time
Net gain (loss)	`RetainedEarningsAccumulatedDeficit`	$-292.86K	USD	Point-in-time
Net gain (loss)	`RetainedEarningsAccumulatedDeficit`	$-88.93K	USD	Point-in-time
Balance Value at June 30, 2015	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$818.83K	USD	Point-in-time
Balance Value at June 30, 2015	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$107.38K	USD	Point-in-time
Common stock bought back, value	`StockRedeemedOrCalledDuringPeriodValue`	$90.00	USD	3 Qtrs
Common stock bought back, value	`StockRedeemedOrCalledDuringPeriodValue`	$-15.00	USD	3 Qtrs
Minority ownership	`MinorityInterest`	$189.44K	USD	Point-in-time
Net gain (loss)	`RetainedEarningsAccumulatedDeficit`	$-292.86K	USD	Point-in-time
Net gain (loss)	`RetainedEarningsAccumulatedDeficit`	$-88.93K	USD	Point-in-time
Balance Value at June 30, 2015	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$818.83K	USD	Point-in-time
Balance Value at June 30, 2015	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$107.38K	USD	Point-in-time

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