10-Q Filing

AMERICAN RESOURCES CORP CIK: 1590715 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001590715-16-000127`
Period End Date	20160630
Filing Date	20160811
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	ngff-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 100 Cash Flow Statement 50

Balance Sheet 52 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalent	`CashAndCashEquivalentsAtCarryingValue`	$82.82K	USD	Point-in-time
Cash and cash equivalent	`CashAndCashEquivalentsAtCarryingValue`	$87.98K	USD	Point-in-time
Cash and cash equivalent	`CashAndCashEquivalentsAtCarryingValue`	$301.18K	USD	Point-in-time
Cash and cash equivalent	`CashAndCashEquivalentsAtCarryingValue`	$67.31K	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$50.86K	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$40.70K	USD	Point-in-time
Inventory	`InventoryNet`	$4.16K	USD	Point-in-time
Inventory	`InventoryNet`	$4.96K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$112.97K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$143.00K	USD	Point-in-time
Software, net	`CapitalizedComputerSoftwareNet`	$4.00K	USD	Point-in-time
Software, net	`CapitalizedComputerSoftwareNet`	$3.25K	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`	$83.33K	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
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Assets of discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	$501.39K	USD	Point-in-time
Assets of discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	$569.41K	USD	Point-in-time
Total other assets	`OtherAssets`	$-2.50K	USD	Point-in-time
Total other assets	`OtherAssets`	$983.27K	USD	Point-in-time
Total other assets	`OtherAssets`	$1.01M	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`	$1.13M	USD	Point-in-time
Total assets	`Assets`	$1.13M	USD	Point-in-time
Credit Card payable	`AccountsPayableCurrent`	$11.59K	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
Loan Payable Southridge	`LoansPayableCurrent`	$50.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrentAndNoncurrent`	$1.20K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrentAndNoncurrent`	$6.65K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$68.09K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$68.25K	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`	$990.19K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-509.30K	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`	$483.39K	USD	Point-in-time
Non Controlling Interest	`MinorityInterest`	$578.37K	USD	Point-in-time
Non Controlling Interest	`MinorityInterest`	$540.47K	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.06M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.06M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$1.13M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$1.13M	USD	Point-in-time

Income Statement 100 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$45.79K	USD	3 Qtrs
Sales	`SalesRevenueNet`	$184.80K	USD	3 Qtrs
Sales	`SalesRevenueNet`	$39.94K	USD	1 Quarter
Sales	`SalesRevenueNet`	$32.59K	USD	1 Quarter
Purchases - Parts and Materials	`CostOfGoodsAndServicesSold`	$12.00	USD	1 Quarter
Purchases - Parts and Materials	`CostOfGoodsAndServicesSold`	$21.80K	USD	1 Quarter
Purchases - Parts and Materials	`CostOfGoodsAndServicesSold`	$75.89K	USD	3 Qtrs
Purchases - Parts and Materials	`CostOfGoodsAndServicesSold`	$12.36K	USD	3 Qtrs
Total Cost of Good Sold	`CostOfGoodsSold`	$12.00	USD	1 Quarter
Total Cost of Good Sold	`CostOfGoodsSold`	$12.36K	USD	3 Qtrs
Total Cost of Good Sold	`CostOfGoodsSold`	$21.80K	USD	1 Quarter
Total Cost of Good Sold	`CostOfGoodsSold`	$75.89K	USD	3 Qtrs
Gross profits	`GrossProfit`	$33.43K	USD	3 Qtrs
Gross profits	`GrossProfit`	$108.91K	USD	3 Qtrs
Gross profits	`GrossProfit`	$32.58K	USD	1 Quarter
Gross profits	`GrossProfit`	$18.14K	USD	1 Quarter
Legal fees	`LegalFees`	$1.98K	USD	1 Quarter
Legal fees	`LegalFees`	$6.51K	USD	3 Qtrs
Legal fees	`LegalFees`	$2.46K	USD	1 Quarter
Legal fees	`LegalFees`	$10.41K	USD	3 Qtrs
Accounting fees	`ProfessionalFees`	$17.51K	USD	3 Qtrs
Accounting fees	`ProfessionalFees`	$10.05K	USD	3 Qtrs
Accounting fees	`ProfessionalFees`	$3.30K	USD	1 Quarter
Accounting fees	`ProfessionalFees`	$4.81K	USD	1 Quarter
Officer compensation	`OfficersCompensation`	$32.75K	USD	3 Qtrs
Officer compensation	`OfficersCompensation`	$17.75K	USD	1 Quarter
Officer compensation	`OfficersCompensation`	$58.89K	USD	3 Qtrs
Officer compensation	`OfficersCompensation`	$27.25K	USD	1 Quarter
Depreciation and Amortization	`DepreciationAndAmortization`	$12.75K	USD	1 Quarter
Depreciation and Amortization	`DepreciationAndAmortization`	$17.42K	USD	3 Qtrs
Depreciation and Amortization	`DepreciationAndAmortization`	$38.25K	USD	3 Qtrs
Depreciation and Amortization	`DepreciationAndAmortization`	$12.75K	USD	1 Quarter
Consulting fees	`ConsultingFees`	$142.75K	USD	3 Qtrs
Consulting fees	`ConsultingFees`	$6.00K	USD	1 Quarter
Consulting fees	`ConsultingFees`	$26.25K	USD	3 Qtrs
Consulting fees	`ConsultingFees`	$136.52K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$17.08K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.26K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$42.75K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$17.14K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$190.17K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$230.52K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$176.04K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$69.88K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-81.26K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-51.73K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-197.09K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-143.46K	USD	1 Quarter
Long term capital loss	`GainLossOnDispositionOfAssets`	$-550.00	USD	3 Qtrs
Realized gain on marketable securities	`RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments`	$43.41K	USD	3 Qtrs
Realized gain on marketable securities	`RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments`	$969.00	USD	1 Quarter
Realized gain on marketable securities	`RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments`	$2.16K	USD	3 Qtrs
Realized gain on marketable securities	`RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments`	$10.00K	USD	1 Quarter
Unrealized gain (loss) on marketable securities	`UnrealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments`	$12.90K	USD	1 Quarter
Unrealized gain (loss) on marketable securities	`UnrealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments`	$-2.69K	USD	3 Qtrs
Unrealized gain (loss) on marketable securities	`UnrealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments`	$-489.00	USD	1 Quarter
Unrealized gain (loss) on marketable securities	`UnrealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments`	$-9.52K	USD	3 Qtrs
Dividends received	`ProceedsFromDividendsReceived`	$304.00	USD	1 Quarter
Dividends received	`ProceedsFromDividendsReceived`	$333.00	USD	3 Qtrs
Dividends received	`ProceedsFromDividendsReceived`	$839.00	USD	3 Qtrs
Total other income/(loss)	`OtherIncome`	$-197.00	USD	3 Qtrs
Total other income/(loss)	`OtherIncome`	$23.20K	USD	1 Quarter
Total other income/(loss)	`OtherIncome`	$34.18K	USD	3 Qtrs
Total other income/(loss)	`OtherIncome`	$480.00	USD	1 Quarter
Income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-47.08K	USD	3 Qtrs
Income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-28.54K	USD	1 Quarter
Income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-142.98K	USD	1 Quarter
Income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-197.29K	USD	3 Qtrs
Income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$75.79K	USD	1 Quarter
Income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-426.00	USD	1 Quarter
Income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-426.00	USD	3 Qtrs
Income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$75.79K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-197.71K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$47.25K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-143.41K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$28.71K	USD	3 Qtrs
Less: Net income (loss) attributable to the Non Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-24.52K	USD	3 Qtrs
Less: Net income (loss) attributable to the Non Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-8.50K	USD	1 Quarter
Less: Net income (loss) attributable to the Non Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.72K	USD	1 Quarter
Less: Net income (loss) attributable to the Non Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-6.22K	USD	3 Qtrs
Net income (loss) attributable to NGFC Shareholders	`IncomeLossAttributableToParent`	$-151.91K	USD	1 Quarter
Net income (loss) attributable to NGFC Shareholders	`IncomeLossAttributableToParent`	$4.18K	USD	3 Qtrs
Net income (loss) attributable to NGFC Shareholders	`IncomeLossAttributableToParent`	$48.97K	USD	1 Quarter
Net income (loss) attributable to NGFC Shareholders	`IncomeLossAttributableToParent`	$-203.93K	USD	3 Qtrs
Basic and diluted loss per common share continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.01	USD	3 Qtrs
Basic and diluted loss per common share continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.01	USD	1 Quarter
Basic and diluted loss per common share continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	1 Quarter
Basic and diluted loss per common share continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	3 Qtrs
Basic and diluted income (loss) per common share discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
Basic and diluted income (loss) per common share discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	3 Qtrs
Basic and diluted income (loss) per common share discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
Basic and diluted income (loss) per common share discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	3 Qtrs
Basic and diluted income (loss) per common share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted income (loss) per common share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted income (loss) per common share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	3 Qtrs
Basic and diluted income (loss) per common share	`EarningsPerShareBasicAndDiluted`	-	USD	3 Qtrs
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`	25.08M	shares	3 Qtrs
Basic and diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	25.09M	shares	1 Quarter
Basic and diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	23.53M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-197.71K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$47.25K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-143.41K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$28.71K	USD	3 Qtrs
Depreciation and Amortization	`DepreciationAndAmortization`	$12.75K	USD	1 Quarter
Depreciation and Amortization	`DepreciationAndAmortization`	$17.42K	USD	3 Qtrs
Depreciation and Amortization	`DepreciationAndAmortization`	$38.25K	USD	3 Qtrs
Depreciation and Amortization	`DepreciationAndAmortization`	$12.75K	USD	1 Quarter
Realized gain on marketable securities	`MarketableSecuritiesRealizedGainLoss`	$44.25K	USD	3 Qtrs
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`	$-9.52K	USD	3 Qtrs
Dividends received	`DividendIncomeOperating`	$839.00	USD	3 Qtrs
Dividends received	`DividendIncomeOperating`	$333.00	USD	3 Qtrs
Stock based compensation	`ShareBasedCompensation`	$131.25K	USD	3 Qtrs
Stock based compensation	`ShareBasedCompensation`	$7.50K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-803.00	USD	3 Qtrs
Prepaid expenses	`PrepaidExpenseCurrentAndNoncurrent`	$2.00K	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$-2.50K	USD	Point-in-time
Deferred revenue	`DeferredRevenueAdditions`	$-33.95K	USD	3 Qtrs
Accounts payables	`AccountsPayableCurrentAndNoncurrent`	$-8.05K	USD	Point-in-time
Accounts payables	`AccountsPayableCurrentAndNoncurrent`	$5.45K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesForCommissionsExpenseAndTaxes`	$3.30K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesForCommissionsExpenseAndTaxes`	$-2.79K	USD	Point-in-time
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$77.93K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-54.80K	USD	3 Qtrs
Cash received from ECIL	`CashAcquiredFromAcquisition`	$33.34K	USD	3 Qtrs
Loans to related party	`PaymentsForLoans`	$-1.00K	USD	3 Qtrs
Purchase of software	`PaymentsToAcquireSoftware`	$-5.00K	USD	3 Qtrs
Purchase of investment	`PaymentsToAcquireAvailableForSaleSecuritiesEquity`	$-8.87K	USD	3 Qtrs
Purchase of investment	`PaymentsToAcquireAvailableForSaleSecuritiesEquity`	$-94.27K	USD	3 Qtrs
Net cash used in investing activities	`PaymentsToAcquireInvestments`	$18.47K	USD	3 Qtrs
Net cash used in investing activities	`PaymentsToAcquireInvestments`	$-94.27K	USD	3 Qtrs
Principal payment of shareholder loan	`PrincipalPaymentOfShareholderLoan`	$-18.55K	USD	Point-in-time
Buyback of common stock	`StockRedeemedOrCalledDuringPeriodValue`	$-15.00	USD	3 Qtrs
Sale of subsidiary interest for cash	`Proceedsfromsubsidiaryownershipinterestforcash`	$110.00K	USD	3 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$144.70K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$254.69K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-18.55K	USD	3 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$218.36K	USD	3 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-34.90K	USD	3 Qtrs
Cash at beginning of period	`CashPerCashFlowStatementBeginning`	$444.77K	USD	Point-in-time
Cash at beginning of period	`CashPerCashFlowStatementBeginning`	$82.82K	USD	Point-in-time
Cash at end of period	`CashPerCashFlowStatement`	$301.18K	USD	Point-in-time
Cash at end of period	`CashPerCashFlowStatement`	$409.88K	USD	Point-in-time
Interest	`InterestPaid`	$1.10K	USD	3 Qtrs
Net assets purchased from ECIL	`PaymentsToAcquireAssetsInvestingActivities`	$489.44K	USD	3 Qtrs
Sale of subsidiary ownership for subs receivable	`ProceedsFromSaleOfSubsidiaryOwnershipForSuscriptionReceivable`	$450.00	USD	3 Qtrs
Class A shares issued to ECIL	`ClassASharesIssuedToEcil`	$450.00K	USD	Point-in-time
Note issued for Equity Agreement	`NotesIssued1`	$50.00K	USD	3 Qtrs

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