10-Q Filing

AMERICAN RESOURCES CORP CIK: 1590715 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001590715-16-000082`
Period End Date	20151231
Filing Date	20160125
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	ngff-20151231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 49 Income Statement 37 Cash Flow Statement 35

Balance Sheet 49 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$444.77K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$553.14K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$82.82K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$48.08K	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$195.46K	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$42.85K	USD	Point-in-time
Inventory	`InventoryNet`	$4.16K	USD	Point-in-time
Inventory	`InventoryNet`	$4.16K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$600.15K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$644.39K	USD	Point-in-time
Software, net	`CapitalizedComputerSoftwareNet`	$3.75K	USD	Point-in-time
Software, net	`CapitalizedComputerSoftwareNet`	$4.00K	USD	Point-in-time
Goodwill	`Goodwill`	$361.05K	USD	Point-in-time
Goodwill	`Goodwill`	$361.05K	USD	Point-in-time
Customer list-net of amortization	`FiniteLivedCustomerListsGross`	$120.83K	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Customer list-net of amortization	`FiniteLivedCustomerListsGross`	$108.33K	USD	Point-in-time
Total other assets	`OtherAssets`	$469.38K	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Total other assets	`OtherAssets`	$481.88K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total assets	`Assets`	$1.13M	USD	Point-in-time
Total assets	`Assets`	$1.07M	USD	Point-in-time
Credit Card payable	`AccountsPayableCurrent`	$14.39K	USD	Point-in-time
Credit Card payable	`AccountsPayableCurrent`	$13.97K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deferred revenue	`DeferredRevenue`	$33.95K	USD	Point-in-time
Loan payable- officer	`AccountsPayableRelatedPartiesCurrent`	$18.55K	USD	Point-in-time
Loan payable- officer	`AccountsPayableRelatedPartiesCurrent`	$6.40K	USD	Point-in-time
Rent payable	`AccruedRentCurrent`	$1.80K	USD	Point-in-time
Rent payable	`AccruedRentCurrent`	$1.20K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$22.17K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$68.09K	USD	Point-in-time
Class A Common stock: $.0001 par value; 230,000,000 shares authorized, 18,092,674 and 18,042,674 shares issued and outstanding for the period end	`CommonStockClassA`	$1.80K	USD	Point-in-time
Class A Common stock: $.0001 par value; 230,000,000 shares authorized, 18,092,674 and 18,042,674 shares issued and outstanding for the period end	`CommonStockClassA`	$1.81K	USD	Point-in-time
Class B Common stock: $.0001 par value; 60,000,000 shares authorized, 7,000,000 shares issued and outstanding for the period end	`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 for the period end	`CommonStockClassB`	$700.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.04M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.03M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-556.15K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-513.49K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityAttributableToParentNotAllowableForNetCapital`	$521.71K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityAttributableToParentNotAllowableForNetCapital`	$486.55K	USD	Point-in-time
Non Controlling Interest	`MinorityInterest`	$540.47K	USD	Point-in-time
Non Controlling Interest	`MinorityInterest`	$564.56K	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.06M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.05M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.07M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.13M	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$84.86K	USD	1 Quarter
Purchases - Parts and Materials	`CostOfGoodsAndServicesSold`	$18.64K	USD	1 Quarter
Total Cost of Good Sold	`CostOfGoodsSold`	$18.64K	USD	1 Quarter
Gross profits	`GrossProfit`	$66.23K	USD	1 Quarter
Legal fees	`LegalFees`	$4.95K	USD	1 Quarter
Legal fees	`LegalFees`	$2.59K	USD	1 Quarter
Accounting fees	`ProfessionalFees`	$5.20K	USD	1 Quarter
Accounting fees	`ProfessionalFees`	$5.00K	USD	1 Quarter
Officer compensation	`OfficersCompensation`	$6.00K	USD	1 Quarter
Officer compensation	`OfficersCompensation`	$16.64K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$12.75K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$250.00	USD	1 Quarter
Consulting fees	`ConsultingFees`	$14.25K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$17.81K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$11.60K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$69.04K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$28.00K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-2.81K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-28.00K	USD	1 Quarter
Refunds	`ProceedsFromRefundsFromSuppliersOfMaterial`	$1.50K	USD	1 Quarter
Realized gain on marketable securities	`RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments`	$39.07K	USD	1 Quarter
Realized gain on marketable securities	`RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments`	$494.00	USD	1 Quarter
Unrealized loss on marketable securities	`UnrealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments`	$-2.85K	USD	1 Quarter
Unrealized loss on marketable securities	`UnrealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments`	$-55.83K	USD	1 Quarter
Dividends received	`ProceedsFromDividendsReceived`	$140.00	USD	1 Quarter
Dividends received	`ProceedsFromDividendsReceived`	$1.01K	USD	1 Quarter
Total other income	`OtherIncome`	$-718.00	USD	1 Quarter
Total other income	`OtherIncome`	$-15.76K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-18.57K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-28.72K	USD	1 Quarter
Less: Net Loss attributable to the Non Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-24.09K	USD	1 Quarter
Net loss attributable to NGFC common shareholders	`IncomeLossAttributableToParent`	$-42.66K	USD	1 Quarter
Net loss attributable to NGFC common shareholders	`IncomeLossAttributableToParent`	$-28.72K	USD	1 Quarter
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	25.05M	shares	1 Quarter
Basic and diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.02M	shares	1 Quarter

Cash Flow Statement 35 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-18.57K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-28.72K	USD	1 Quarter
Depreciation	`Depreciation`	$12.75K	USD	1 Quarter
Depreciation	`Depreciation`	$250.00	USD	1 Quarter
Realized gain on marketable securities	`MarketableSecuritiesRealizedGainLoss`	$-494.00	USD	1 Quarter
Realized gain on marketable securities	`MarketableSecuritiesRealizedGainLoss`	$39.07K	USD	1 Quarter
Unrealized loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-55.83K	USD	1 Quarter
Unrealized loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$2.85K	USD	1 Quarter
Dividends received	`DividendIncomeOperating`	$-140.00	USD	1 Quarter
Dividends received	`DividendIncomeOperating`	$1.01K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$7.50K	USD	1 Quarter
Deferred revenue	`DeferredRevenueAdditions`	$-33.95K	USD	1 Quarter
Other payables	`OtherAccountsPayableAndAccruedLiabilities`	$-420.00	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesForCommissionsExpenseAndTaxes`	$600.00	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesForCommissionsExpenseAndTaxes`	$600.00	USD	Point-in-time
Net cash used in operating activities	`PaymentsForOperatingActivities`	$-25.65K	USD	1 Quarter
Net cash used in operating activities	`PaymentsForOperatingActivities`	$-47.85K	USD	1 Quarter
Cash received (paid) for available for sale securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$-4.10K	USD	1 Quarter
Cash received (paid) for available for sale securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$168.37K	USD	1 Quarter
Purchase of software	`PaymentsToAcquireSoftware`	$-5.00K	USD	1 Quarter
Net cash used in investing activities	`PaymentsToAcquireInvestments`	$168.37K	USD	1 Quarter
Net cash used in investing activities	`PaymentsToAcquireInvestments`	$-9.09K	USD	1 Quarter
Principal payments on related party loan	`PaymentsToFundLongtermLoansToRelatedParties`	$-12.15K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-12.15K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-34.74K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$108.36K	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$444.77K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$553.14K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$82.82K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$48.08K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$444.77K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$553.14K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$82.82K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$48.08K	USD	Point-in-time
Interest	`InterestPaid`	$187.00	USD	1 Quarter

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