10-Q Filing

AMERICAN RESOURCES CORP CIK: 1590715 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001590715-16-000097`
Period End Date	20160331
Filing Date	20160512
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	ngff-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 49 Income Statement 79 Cash Flow Statement 46

Balance Sheet 49 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalent	`CashAndCashEquivalentsAtCarryingValue`	$131.06K	USD	Point-in-time
Cash and cash equivalent	`CashAndCashEquivalentsAtCarryingValue`	$394.30K	USD	Point-in-time
Cash and cash equivalent	`CashAndCashEquivalentsAtCarryingValue`	$82.82K	USD	Point-in-time
Cash and cash equivalent	`CashAndCashEquivalentsAtCarryingValue`	$444.77K	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$195.46K	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$242.80K	USD	Point-in-time
Loan receivable related parties	`LoansAndLeasesReceivableRelatedParties`	$687.00	USD	Point-in-time
Inventory	`InventoryNet`	$4.16K	USD	Point-in-time
Inventory	`InventoryNet`	$4.89K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$642.68K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$644.39K	USD	Point-in-time
Software, net	`CapitalizedComputerSoftwareNet`	$4.00K	USD	Point-in-time
Software, net	`CapitalizedComputerSoftwareNet`	$3.50K	USD	Point-in-time
Goodwill	`Goodwill`	$361.05K	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Goodwill	`Goodwill`	$361.05K	USD	Point-in-time
Customer list-net of amortization	`FiniteLivedCustomerListsGross`	$95.83K	USD	Point-in-time
Customer list-net of amortization	`FiniteLivedCustomerListsGross`	$120.83K	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
Total other assets	`OtherAssets`	$456.88K	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 assets	`Assets`	$1.10M	USD	Point-in-time
Total assets	`Assets`	$1.13M	USD	Point-in-time
Credit Card payable	`AccountsPayableCurrent`	$2.38K	USD	Point-in-time
Credit Card payable	`AccountsPayableCurrent`	$14.39K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$33.95K	USD	Point-in-time
Loan payable officer	`AccountsPayableRelatedPartiesCurrent`	$18.55K	USD	Point-in-time
Rent payable	`AccruedRentCurrent`	$1.20K	USD	Point-in-time
Rent payable	`AccruedRentCurrent`	$2.40K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$68.09K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.78K	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 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 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`	$1.03M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.04M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-558.25K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-513.49K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquityAttributableToParentNotAllowableForNetCapital`	$521.71K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquityAttributableToParentNotAllowableForNetCapital`	$484.44K	USD	Point-in-time
Non Controlling Interest	`MinorityInterest`	$613.83K	USD	Point-in-time
Non Controlling Interest	`MinorityInterest`	$540.47K	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.10M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.06M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$1.10M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$1.13M	USD	Point-in-time

Income Statement 79 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$144.86K	USD	2 Qtrs
Sales	`SalesRevenueNet`	$60.00K	USD	1 Quarter
Sales	`SalesRevenueNet`	$13.20K	USD	2 Qtrs
Sales	`SalesRevenueNet`	$13.20K	USD	1 Quarter
Purchases - Parts and Materials	`CostOfGoodsAndServicesSold`	$54.10K	USD	2 Qtrs
Purchases - Parts and Materials	`CostOfGoodsAndServicesSold`	$12.35K	USD	1 Quarter
Purchases - Parts and Materials	`CostOfGoodsAndServicesSold`	$35.46K	USD	1 Quarter
Purchases - Parts and Materials	`CostOfGoodsAndServicesSold`	$12.35K	USD	2 Qtrs
Total Cost of Good Sold	`CostOfGoodsSold`	$54.10K	USD	2 Qtrs
Total Cost of Good Sold	`CostOfGoodsSold`	$35.46K	USD	1 Quarter
Total Cost of Good Sold	`CostOfGoodsSold`	$12.35K	USD	1 Quarter
Total Cost of Good Sold	`CostOfGoodsSold`	$12.35K	USD	2 Qtrs
Gross profits	`GrossProfit`	$853.00	USD	2 Qtrs
Gross profits	`GrossProfit`	$24.53K	USD	1 Quarter
Gross profits	`GrossProfit`	$90.76K	USD	2 Qtrs
Gross profits	`GrossProfit`	$853.00	USD	1 Quarter
Legal fees	`LegalFees`	$1.75K	USD	1 Quarter
Legal fees	`LegalFees`	$7.95K	USD	2 Qtrs
Legal fees	`LegalFees`	$1.95K	USD	1 Quarter
Legal fees	`LegalFees`	$4.54K	USD	2 Qtrs
Accounting fees	`ProfessionalFees`	$54.00	USD	1 Quarter
Accounting fees	`ProfessionalFees`	$7.70K	USD	1 Quarter
Accounting fees	`ProfessionalFees`	$12.70K	USD	2 Qtrs
Accounting fees	`ProfessionalFees`	$6.75K	USD	2 Qtrs
Officer compensation	`OfficersCompensation`	$15.00K	USD	1 Quarter
Officer compensation	`OfficersCompensation`	$15.00K	USD	2 Qtrs
Officer compensation	`OfficersCompensation`	$9.80K	USD	1 Quarter
Officer compensation	`OfficersCompensation`	$31.64K	USD	2 Qtrs
Depreciation and Amortization	`DepreciationAndAmortization`	$12.75K	USD	1 Quarter
Depreciation and Amortization	`DepreciationAndAmortization`	$25.50K	USD	2 Qtrs
Depreciation and Amortization	`DepreciationAndAmortization`	$4.67K	USD	2 Qtrs
Consulting fees	`ConsultingFees`	$6.00K	USD	1 Quarter
Consulting fees	`ConsultingFees`	$20.25K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$8.61K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.85K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$26.42K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$20.11K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$54.48K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$20.46K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$52.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$121.04K	USD	2 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-53.63K	USD	2 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-27.47K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-19.60K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-30.28K	USD	2 Qtrs
Long term capital loss	`GainLossOnDispositionOfAssets`	$-550.00	USD	2 Qtrs
Long term capital loss	`GainLossOnDispositionOfAssets`	$-550.00	USD	1 Quarter
Realized gain on marketable securities	`RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments`	$78.02K	USD	1 Quarter
Realized gain on marketable securities	`RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments`	$1.19K	USD	2 Qtrs
Realized gain on marketable securities	`RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments`	$117.08K	USD	2 Qtrs
Unrealized loss on marketable securities	`UnrealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments`	$-2.20K	USD	2 Qtrs
Unrealized loss on marketable securities	`UnrealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments`	$-107.29K	USD	2 Qtrs
Unrealized loss on marketable securities	`UnrealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments`	$-51.45K	USD	1 Quarter
Dividends received	`ProceedsFromDividendsReceived`	$333.00	USD	2 Qtrs
Dividends received	`ProceedsFromDividendsReceived`	$102.00	USD	1 Quarter
Dividends received	`ProceedsFromDividendsReceived`	$1.11K	USD	2 Qtrs
Total other income/(loss)	`OtherIncome`	$26.12K	USD	1 Quarter
Total other income/(loss)	`OtherIncome`	$10.36K	USD	2 Qtrs
Total other income/(loss)	`OtherIncome`	$-677.00	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.35K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-19.60K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-54.30K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-19.92K	USD	2 Qtrs
Less: Net income (loss) attributable to the Non Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-730.00	USD	1 Quarter
Less: Net income (loss) attributable to the Non Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-24.82K	USD	2 Qtrs
Less: Net income (loss) attributable to the Non Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$2.29K	USD	2 Qtrs
Less: Net income (loss) attributable to the Non Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$2.29K	USD	1 Quarter
Net loss attributable to NGFC Shareholders	`IncomeLossAttributableToParent`	$-2.08K	USD	1 Quarter
Net loss attributable to NGFC Shareholders	`IncomeLossAttributableToParent`	$-17.32K	USD	1 Quarter
Net loss attributable to NGFC Shareholders	`IncomeLossAttributableToParent`	$-44.74K	USD	2 Qtrs
Net loss attributable to NGFC Shareholders	`IncomeLossAttributableToParent`	$-52.02K	USD	2 Qtrs
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
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`	20.27M	shares	2 Qtrs
Basic and diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	25.05M	shares	2 Qtrs
Basic and diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.27M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.35K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-19.60K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-54.30K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-19.92K	USD	2 Qtrs
Depreciation and Amortization	`DepreciationAndAmortization`	$12.75K	USD	1 Quarter
Depreciation and Amortization	`DepreciationAndAmortization`	$25.50K	USD	2 Qtrs
Depreciation and Amortization	`DepreciationAndAmortization`	$4.67K	USD	2 Qtrs
Realized gain on marketable securities	`MarketableSecuritiesRealizedGainLoss`	$117.08K	USD	2 Qtrs
Unrealized loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-107.29K	USD	2 Qtrs
Unrealized loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$2.20K	USD	2 Qtrs
Dividends received	`DividendIncomeOperating`	$1.11K	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$7.50K	USD	2 Qtrs
Prepaid expenses	`PrepaidExpenseCurrentAndNoncurrent`	$2.00K	USD	Point-in-time
Inventory	`IncreaseDecreaseInInventories`	$-738.00	USD	2 Qtrs
Deferred revenue	`DeferredRevenueAdditions`	$-33.95K	USD	2 Qtrs
Accounts payables	`AccountsPayableCurrentAndNoncurrent`	$-2.64K	USD	Point-in-time
Accounts payables	`AccountsPayableCurrentAndNoncurrent`	$-12.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesForCommissionsExpenseAndTaxes`	$1.20K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesForCommissionsExpenseAndTaxes`	$2.70K	USD	Point-in-time
Net cash used in operating activities	`PaymentsForOperatingActivities`	$-21.51K	USD	2 Qtrs
Net cash used in operating activities	`PaymentsForOperatingActivities`	$-45.37K	USD	2 Qtrs
Loans to related party	`PaymentsForLoans`	$-687.00	USD	2 Qtrs
Loans to related party	`PaymentsForLoans`	$-150.00	USD	2 Qtrs
Cash received from ECIL	`CashAcquiredFromAcquisition`	$33.34K	USD	2 Qtrs
Purchase of software	`PaymentsToAcquireSoftware`	$-5.00K	USD	2 Qtrs
Purchase of investment	`PaymentsToAcquireAvailableForSaleSecuritiesEquity`	$-9.73K	USD	2 Qtrs
Purchase of investment	`PaymentsToAcquireAvailableForSaleSecuritiesEquity`	$-20.43K	USD	2 Qtrs
Net cash used in investing activities	`PaymentsToAcquireInvestments`	$-10.42K	USD	2 Qtrs
Net cash used in investing activities	`PaymentsToAcquireInvestments`	$7.76K	USD	2 Qtrs
Principal payment of shareholder loan	`PrincipalPaymentOfShareholderLoan`	$-18.55K	USD	Point-in-time
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$85.85K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-18.55K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$85.85K	USD	2 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-50.48K	USD	2 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$48.24K	USD	2 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$131.06K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$394.30K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$82.82K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$444.77K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$131.06K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$394.30K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$82.82K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$444.77K	USD	Point-in-time
Interest	`InterestPaid`	$387.00	USD	2 Qtrs
Net assets purchased from ECIL	`PaymentsToAcquireAssetsInvestingActivities`	$584.78K	USD	2 Qtrs
Class A shares issued to ECIL	`ClassASharesIssuedToEcil`	$450.00K	USD	Point-in-time

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