10-Q Filing

AMERICAN RESOURCES CORP CIK: 1590715 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001590715-17-000025`
Period End Date	20161231
Filing Date	20170206
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	ngff-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 43 Income Statement 47 Cash Flow Statement 34

Balance Sheet 43 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$64.55K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$48.79K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$553.14K	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$35.02K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$2.21K	USD	Point-in-time
Inventory	`InventoryNet`	$4.96K	USD	Point-in-time
Inventory	`InventoryNet`	$6.29K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$90.98K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$70.83K	USD	Point-in-time
Software, net	`CapitalizedComputerSoftwareNet`	$6.00K	USD	Point-in-time
Software, net	`CapitalizedComputerSoftwareNet`	$5.75K	USD	Point-in-time
Total assets	`Assets`	$96.97K	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total assets	`Assets`	$76.58K	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesNoncurrent`	$2.69K	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesNoncurrent`	$72.99K	USD	Point-in-time
Other payable	`OtherNotesPayable`	$14.16K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other payable	`OtherNotesPayable`	$10.17K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deferred revenue	`DeferredRevenue`	$35.34K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$35.34K	USD	Point-in-time
Loan payable Southridge	`LoansPayableCurrent`	$50.00K	USD	Point-in-time
Loan payable Southridge	`LoansPayableCurrent`	$50.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$102.19K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$168.50K	USD	Point-in-time
Class A Common stock: $.0001 par value; 230,000,000 shares authorized, 18,359,799 and 18,206,799 shares issued and outstanding for the period end	`CommonStockClassA`	$1.82K	USD	Point-in-time
Class A Common stock: $.0001 par value; 230,000,000 shares authorized, 18,359,799 and 18,206,799 shares issued and outstanding for the period end	`CommonStockClassA`	$1.84K	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`	$1.09M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.15M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.25M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.23M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquityAttributableToParentNotAllowableForNetCapital`	$-102.19K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquityAttributableToParentNotAllowableForNetCapital`	$-142.82K	USD	Point-in-time
Non Controlling Interest	`MinorityInterest`	$76.58K	USD	Point-in-time
Non Controlling Interest	`MinorityInterest`	$71.29K	USD	Point-in-time
Total Deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-25.61K	USD	Point-in-time
Total Deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-71.53K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$96.97K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$76.58K	USD	Point-in-time

Income Statement 47 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$56.13K	USD	1 Quarter
Sales	`SalesRevenueNet`	$84.86K	USD	1 Quarter
Purchases - Parts and Materials	`CostOfGoodsAndServicesSold`	$18.64K	USD	1 Quarter
Purchases - Parts and Materials	`CostOfGoodsAndServicesSold`	$35.96K	USD	1 Quarter
Total Cost of Good Sold	`CostOfGoodsSold`	$35.96K	USD	1 Quarter
Total Cost of Good Sold	`CostOfGoodsSold`	$18.64K	USD	1 Quarter
Gross profits	`GrossProfit`	$20.17K	USD	1 Quarter
Gross profits	`GrossProfit`	$66.23K	USD	1 Quarter
Legal fees	`LegalFees`	$1.33K	USD	1 Quarter
Legal fees	`LegalFees`	$2.09K	USD	1 Quarter
Accounting fees	`ProfessionalFees`	$5.00K	USD	1 Quarter
Accounting fees	`ProfessionalFees`	$5.00K	USD	1 Quarter
Officer compensation	`OfficersCompensation`	$16.64K	USD	1 Quarter
Officer compensation	`OfficersCompensation`	$13.50K	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
Consulting fees	`Consultingfees`	$6.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$10.65K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$17.81K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$68.54K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$36.73K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.31K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-16.56K	USD	1 Quarter
Realized gain on marketable securities	`RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments`	$11.72K	USD	1 Quarter
Realized gain on marketable securities	`RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments`	$1.28K	USD	1 Quarter
Unrealized loss on marketable securities	`UnrealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments`	$-11.76K	USD	1 Quarter
Dividends received	`ProceedsFromDividendsReceived`	$527.00	USD	1 Quarter
Total other income	`OtherIncome`	$1.28K	USD	1 Quarter
Total other income	`OtherIncome`	$497.00	USD	1 Quarter
Income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-1.81K	USD	1 Quarter
Income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-15.28K	USD	1 Quarter
Income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-16.76K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-18.57K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-15.28K	USD	1 Quarter
Less: Net income (loss) attributable to the Non Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-5.29K	USD	1 Quarter
Less: Net income (loss) attributable to the Non Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-24.09K	USD	1 Quarter
Net income (loss) attributable to NGFC Shareholders	`IncomeLossAttributableToParent`	$-20.57K	USD	1 Quarter
Net income (loss) attributable to NGFC Shareholders	`IncomeLossAttributableToParent`	$-42.66K	USD	1 Quarter
Basic and diluted loss per common share continuing operatoons	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	1 Quarter
Basic and diluted loss per common share continuing operatoons	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	1 Quarter
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	1 Quarter
Basic and diluted income (loss) per common share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted income (loss) per common share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	25.31M	shares	1 Quarter
Basic and diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	25.05M	shares	1 Quarter

Cash Flow Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-18.57K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-15.28K	USD	1 Quarter
Depreciation	`Depreciation`	$250.00	USD	1 Quarter
Depreciation	`Depreciation`	$12.75K	USD	1 Quarter
Realized gain on marketable securities	`MarketableSecuritiesRealizedGainLoss`	$1.28K	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
Dividends received	`DividendIncomeOperating`	$1.01K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$7.50K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-1.33K	USD	1 Quarter
Deferred revenue	`DeferredRevenueAdditions`	$-33.95K	USD	1 Quarter
Other payables	`OtherAccountsPayableAndAccruedLiabilities`	$2.21K	USD	Point-in-time
Other payables	`OtherAccountsPayableAndAccruedLiabilities`	$-420.00	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesForCommissionsExpenseAndTaxes`	$-5.11K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesForCommissionsExpenseAndTaxes`	$600.00	USD	Point-in-time
Net cash used in operating activities	`PaymentsForOperatingActivities`	$-17.98K	USD	1 Quarter
Net cash used in operating activities	`PaymentsForOperatingActivities`	$-47.85K	USD	1 Quarter
Cash received (paid) for available for sale securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$168.37K	USD	1 Quarter
Cash received (paid) for available for sale securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$33.74K	USD	1 Quarter
Net cash used in investing activities	`PaymentsToAcquireInvestments`	$33.74K	USD	1 Quarter
Net cash used in investing activities	`PaymentsToAcquireInvestments`	$168.37K	USD	1 Quarter
Principal payments on related party loan	`PaymentsToFundLongtermLoansToRelatedParties`	$-12.15K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-12.15K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$15.76K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$108.36K	USD	1 Quarter
Cash at beginning of period	`Cashatbeginningofperiod1`	$48.79K	USD	Point-in-time
Cash at beginning of period	`Cashatbeginningofperiod1`	$444.77K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$64.55K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$48.79K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$553.14K	USD	Point-in-time
Interest	`InterestPaid`	$187.00	USD	1 Quarter
Interest	`InterestPaid`	$1.20K	USD	1 Quarter
Payment in stock to settle accrued liability	`PaymentInStockToSettleAccruedLiability`	$61.20K	USD	Point-in-time

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