10-Q/A Filing
Filing Information
| Form Type | 10-Q/A |
| Accession Number | 0001654954-18-011454 |
| Period End Date | 20180331 |
| Filing Date | 20181022 |
| Fiscal Year | 2018 |
| Fiscal Period | Q1 |
| XBRL Instance | arec-20180331.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
74 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Long-term portion of note payable net of issuance costs |
LongtermPortionOfNotePayableNetOfIssuanceCosts
|
$437.33K | USD | Point-in-time |
| Long-term portion of note payable net of issuance costs |
LongtermPortionOfNotePayableNetOfIssuanceCosts
|
$440.33K | USD | Point-in-time |
| Cash |
CashAndCashEquivalentsAtCarryingValue
|
$756.16K | USD | Point-in-time |
| Cash |
CashAndCashEquivalentsAtCarryingValue
|
$9.01K | USD | Point-in-time |
| Cash |
CashAndCashEquivalentsAtCarryingValue
|
$186.72K | USD | Point-in-time |
| Accounts Receivable |
AccountsReceivableNet
|
$1.87M | USD | Point-in-time |
| Accounts Receivable |
AccountsReceivableNet
|
$2.27M | USD | Point-in-time |
| Inventory |
InventoryNet
|
$317.12K | USD | Point-in-time |
| Inventory |
InventoryNet
|
$615.10K | USD | Point-in-time |
| Prepaid fees |
PrepaidExpenseCurrent
|
- | USD | Point-in-time |
| Prepaid fees |
PrepaidExpenseCurrent
|
$443.48K | USD | Point-in-time |
| Accounts Receivable - Other |
AccountsAndOtherReceivablesNetCurrent
|
$30.02K | USD | Point-in-time |
| Accounts Receivable - Other |
AccountsAndOtherReceivablesNetCurrent
|
$29.26K | USD | Point-in-time |
| Total Current Assets |
AssetsCurrent
|
$3.07M | USD | Point-in-time |
| Total Current Assets |
AssetsCurrent
|
$2.70M | USD | Point-in-time |
| Cash - restricted |
RestrictedCashAndCashEquivalentsNoncurrent
|
$220.60K | USD | Point-in-time |
| Cash - restricted |
RestrictedCashAndCashEquivalentsNoncurrent
|
$85.79K | USD | Point-in-time |
| Cash - restricted |
RestrictedCashAndCashEquivalentsNoncurrent
|
$198.94K | USD | Point-in-time |
| Processing and rail facility |
ProcessingAndRailFacility
|
$2.91M | USD | Point-in-time |
| Processing and rail facility |
ProcessingAndRailFacility
|
$2.91M | USD | Point-in-time |
| Underground equipment |
InventoryGasInStorageUndergroundNoncurrent
|
$8.89M | USD | Point-in-time |
| Underground equipment |
InventoryGasInStorageUndergroundNoncurrent
|
$8.89M | USD | Point-in-time |
| Surface equipment |
SurfaceEquipment
|
$3.96M | USD | Point-in-time |
| Surface equipment |
SurfaceEquipment
|
$4.44M | USD | Point-in-time |
| Less Accumulated Depreciation |
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
$5.30M | USD | Point-in-time |
| Less Accumulated Depreciation |
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
$4.82M | USD | Point-in-time |
| Land |
Land
|
$178.68K | USD | Point-in-time |
| Land |
Land
|
$178.68K | USD | Point-in-time |
| Accounts Receivable - Other |
AccountsReceivableNetNoncurrent
|
$127.72K | USD | Point-in-time |
| Accounts Receivable - Other |
AccountsReceivableNetNoncurrent
|
$111.00K | USD | Point-in-time |
| Note Receivable |
NotesAndLoansReceivableNetNoncurrent
|
$4.12M | USD | Point-in-time |
| Note Receivable |
NotesAndLoansReceivableNetNoncurrent
|
$4.12M | USD | Point-in-time |
| Total Other Assets |
AssetsNoncurrent
|
$15.56M | USD | Point-in-time |
| Total Other Assets |
AssetsNoncurrent
|
$15.43M | USD | Point-in-time |
| TOTAL ASSETS |
Assets
|
$18.50M | USD | Point-in-time |
| TOTAL ASSETS |
Assets
|
$18.26M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$5.36M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$6.41M | USD | Point-in-time |
| Accrued related party management fee |
ManagementFeePayable
|
$17.84M | USD | Point-in-time |
| Accrued related party management fee |
ManagementFeePayable
|
$17.84M | USD | Point-in-time |
| Accrued interest |
AccruedLiabilitiesCurrent
|
$336.57K | USD | Point-in-time |
| Accrued interest |
AccruedLiabilitiesCurrent
|
$461.33K | USD | Point-in-time |
| Accrued dividend on Series B |
InterestAndDividendsPayableCurrent
|
- | USD | Point-in-time |
| Accrued dividend on Series B |
InterestAndDividendsPayableCurrent
|
$70.16K | USD | Point-in-time |
| Funds held for others |
FundsHeldForOthers
|
$12.06K | USD | Point-in-time |
| Funds held for others |
FundsHeldForOthers
|
$82.83K | USD | Point-in-time |
| Due to affiliate |
DueToAffiliateCurrent
|
$124.00K | USD | Point-in-time |
| Due to affiliate |
DueToAffiliateCurrent
|
$124.00K | USD | Point-in-time |
| Current portion of long term-debt |
LongTermDebtCurrent
|
$9.65M | USD | Point-in-time |
| Current portion of long term-debt |
LongTermDebtCurrent
|
$10.16M | USD | Point-in-time |
| Current portion of reclamation liability |
AccruedReclamationCostsCurrent
|
$2.38M | USD | Point-in-time |
| Current portion of reclamation liability |
AccruedReclamationCostsCurrent
|
$2.03M | USD | Point-in-time |
| Total Current Liabilities |
LiabilitiesCurrent
|
$35.42M | USD | Point-in-time |
| Total Current Liabilities |
LiabilitiesCurrent
|
$37.46M | USD | Point-in-time |
| Long-term portion of note payable (net of issuance costs of $437,335 and $440,333) |
LongTermNotesPayable
|
$5.08M | USD | Point-in-time |
| Long-term portion of note payable (net of issuance costs of $437,335 and $440,333) |
LongTermNotesPayable
|
$5.78M | USD | Point-in-time |
| Reclamation liability |
ReclamationLiabilityNonCurrent
|
$17.96M | USD | Point-in-time |
| Reclamation liability |
ReclamationLiabilityNonCurrent
|
$17.85M | USD | Point-in-time |
| Total Other Liabilities |
LiabilitiesNoncurrent
|
$23.75M | USD | Point-in-time |
| Total Other Liabilities |
LiabilitiesNoncurrent
|
$22.93M | USD | Point-in-time |
| Total Liabilities |
Liabilities
|
$61.21M | USD | Point-in-time |
| Total Liabilities |
Liabilities
|
$58.36M | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapital
|
$1.53M | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapital
|
$1.53M | USD | Point-in-time |
| Accumulated deficit |
RetainedEarningsAccumulatedDeficit
|
$-44.76M | USD | Point-in-time |
| Accumulated deficit |
RetainedEarningsAccumulatedDeficit
|
$-42.02M | USD | Point-in-time |
| Total American Resources Corporation's Shareholders' Equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$-43.23M | USD | Point-in-time |
| Total American Resources Corporation's Shareholders' Equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$-40.49M | USD | Point-in-time |
| Non controlling interest |
MinorityInterest
|
$397.86K | USD | Point-in-time |
| Non controlling interest |
MinorityInterest
|
$526.37K | USD | Point-in-time |
| Total Stockholders' Deficit |
StockholdersEquity
|
$-42.70M | USD | Point-in-time |
| Total Stockholders' Deficit |
StockholdersEquity
|
$-40.09M | USD | Point-in-time |
| TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT |
LiabilitiesAndStockholdersEquity
|
$18.26M | USD | Point-in-time |
| TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT |
LiabilitiesAndStockholdersEquity
|
$18.50M | USD | Point-in-time |
Income Statement
46 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Coal Sales |
CoalSalesRevenue
|
$7.31M | USD | 1 Quarter |
| Coal Sales |
CoalSalesRevenue
|
$5.72M | USD | 1 Quarter |
| Processing Services Income |
ProcessingServicesIncome
|
$893.98K | USD | 1 Quarter |
| Processing Services Income |
ProcessingServicesIncome
|
$19.52K | USD | 1 Quarter |
| Total Revenue |
Revenues
|
$6.61M | USD | 1 Quarter |
| Total Revenue |
Revenues
|
$7.33M | USD | 1 Quarter |
| Cost of Coal Sales and Processing |
CostOfCoalSalesAndProcessing
|
$-5.47M | USD | 1 Quarter |
| Cost of Coal Sales and Processing |
CostOfCoalSalesAndProcessing
|
$-4.56M | USD | 1 Quarter |
| Accretion Expense |
AccretionExpense
|
$-328.06K | USD | 1 Quarter |
| Accretion Expense |
AccretionExpense
|
$-447.76K | USD | 1 Quarter |
| Loss of ARO Settlement |
GainLossRelatedToLitigationSettlement
|
$155.92K | USD | 1 Quarter |
| Loss of ARO Settlement |
GainLossRelatedToLitigationSettlement
|
- | USD | 1 Quarter |
| Depreciation |
Depreciation
|
$-479.57K | USD | 1 Quarter |
| Depreciation |
Depreciation
|
$-459.64K | USD | 1 Quarter |
| General and Administrative |
GeneralAndAdministrativeExpense
|
$-419.20K | USD | 1 Quarter |
| General and Administrative |
GeneralAndAdministrativeExpense
|
$-476.59K | USD | 1 Quarter |
| Professional Fees |
ProfessionalFees
|
$-307.31K | USD | 1 Quarter |
| Professional Fees |
ProfessionalFees
|
$-274.60K | USD | 1 Quarter |
| Production Taxes and Royalties |
RoyaltyExpense
|
$-1.67M | USD | 1 Quarter |
| Production Taxes and Royalties |
RoyaltyExpense
|
$-949.79K | USD | 1 Quarter |
| Development Costs |
DevelopmentCosts
|
$-1.80M | USD | 1 Quarter |
| Development Costs |
DevelopmentCosts
|
$-1.69M | USD | 1 Quarter |
| Total Operating expenses |
OperatingExpenses
|
$-9.79M | USD | 1 Quarter |
| Total Operating expenses |
OperatingExpenses
|
$-9.70M | USD | 1 Quarter |
| Net Loss from Operations |
OperatingIncomeLoss
|
$-3.09M | USD | 1 Quarter |
| Net Loss from Operations |
OperatingIncomeLoss
|
$-2.46M | USD | 1 Quarter |
| Other Income |
OtherIncome
|
$128.51K | USD | 1 Quarter |
| Other Income |
OtherIncome
|
$176.98K | USD | 1 Quarter |
| Interest Income |
InterestIncomeOperating
|
- | USD | 1 Quarter |
| Interest Income |
InterestIncomeOperating
|
$41.17K | USD | 1 Quarter |
| Interest expense |
InterestExpense
|
$247.15K | USD | 1 Quarter |
| Interest expense |
InterestExpense
|
$128.53K | USD | 1 Quarter |
| Total Other income (expense) |
OtherNonoperatingIncomeExpense
|
$48.45K | USD | 1 Quarter |
| Total Other income (expense) |
OtherNonoperatingIncomeExpense
|
$-77.47K | USD | 1 Quarter |
| Net Loss |
NetIncomeLoss
|
$-3.04M | USD | 1 Quarter |
| Net Loss |
NetIncomeLoss
|
$-2.54M | USD | 1 Quarter |
| Less: Series B dividend requirement |
DividendsPreferredStockStock
|
$-70.16K | USD | 1 Quarter |
| Less: Series B dividend requirement |
DividendsPreferredStockStock
|
- | USD | 1 Quarter |
| Less: Net income attributable to Non Controlling Interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
$-128.51K | USD | 1 Quarter |
| Less: Net income attributable to Non Controlling Interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
$-176.98K | USD | 1 Quarter |
| Net loss attributable to American Resources Corp. Shareholders |
IncomeLossAttributableToParent
|
$-3.22M | USD | 1 Quarter |
| Net loss attributable to American Resources Corp. Shareholders |
IncomeLossAttributableToParent
|
$-2.74M | USD | 1 Quarter |
| Net loss per common share - basic and diluted |
EarningsPerShareBasicAndDiluted
|
$-2.93 | USD | 1 Quarter |
| Net loss per common share - basic and diluted |
EarningsPerShareBasicAndDiluted
|
$-3.60 | USD | 1 Quarter |
| Weighted average common shares outstanding- basic and diluted |
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
845,427.00 | shares | 1 Quarter |
| Weighted average common shares outstanding- basic and diluted |
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
892,044.00 | shares | 1 Quarter |
Cash Flow Statement
70 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net loss |
NetIncomeLoss
|
$-3.04M | USD | 1 Quarter |
| Net loss |
NetIncomeLoss
|
$-2.54M | USD | 1 Quarter |
| Depreciation |
Depreciation
|
$-479.57K | USD | 1 Quarter |
| Depreciation |
Depreciation
|
$-459.64K | USD | 1 Quarter |
| Accretion expense |
AccretionExpense
|
$-328.06K | USD | 1 Quarter |
| Accretion expense |
AccretionExpense
|
$-447.76K | USD | 1 Quarter |
| Loss on reclamation settlements |
GainLossRelatedToLitigationSettlement
|
$155.92K | USD | 1 Quarter |
| Loss on reclamation settlements |
GainLossRelatedToLitigationSettlement
|
- | USD | 1 Quarter |
| Assumption of note payable in reverse merger |
NoncashMergerRelatedCosts
|
$50.00K | USD | 1 Quarter |
| Assumption of note payable in reverse merger |
NoncashMergerRelatedCosts
|
- | USD | 1 Quarter |
| Amortization of issuance costs and debt discount |
AmortizationOfFinancingCosts
|
$52.84K | USD | 1 Quarter |
| Amortization of issuance costs and debt discount |
AmortizationOfFinancingCosts
|
$37.84K | USD | 1 Quarter |
| Recovery of previously impaired receivable |
GoodwillImpairmentLoss
|
$50.81K | USD | 1 Quarter |
| Recovery of previously impaired receivable |
GoodwillImpairmentLoss
|
- | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$1.33M | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$-399.05K | USD | 1 Quarter |
| Prepaid expenses and other assets |
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
$40.00K | USD | 1 Quarter |
| Prepaid expenses and other assets |
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
$-443.48K | USD | 1 Quarter |
| Inventory |
IncreaseDecreaseInInventories
|
- | USD | 1 Quarter |
| Inventory |
IncreaseDecreaseInInventories
|
$297.97K | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountsPayable
|
$1.06M | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountsPayable
|
$925.48K | USD | 1 Quarter |
| Funds held for others |
IncreaseDecreaseInFundsHeldForOthers
|
$-70.77K | USD | 1 Quarter |
| Funds held for others |
IncreaseDecreaseInFundsHeldForOthers
|
- | USD | 1 Quarter |
| Accrued interest |
IncreaseDecreaseInInterestPayableNet
|
$30.00K | USD | 1 Quarter |
| Accrued interest |
IncreaseDecreaseInInterestPayableNet
|
$124.76K | USD | 1 Quarter |
| Reclamation liability settlements |
ReclamationAndMineShutdownProvision
|
- | USD | 1 Quarter |
| Reclamation liability settlements |
ReclamationAndMineShutdownProvision
|
$-355.79K | USD | 1 Quarter |
| Cash used in operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$-28.98K | USD | 1 Quarter |
| Cash used in operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$-1.06M | USD | 1 Quarter |
| Advances made in connection with management agreement |
AdvancesMadeInConnectionWithManagementAgreement
|
$-40.00K | USD | 1 Quarter |
| Advances made in connection with management agreement |
AdvancesMadeInConnectionWithManagementAgreement
|
$-7.00K | USD | 1 Quarter |
| Advance repayment in connection with management agreement |
AdvanceRepaymentInConnectionWithManagementAgreements
|
$79.22K | USD | 1 Quarter |
| Advance repayment in connection with management agreement |
AdvanceRepaymentInConnectionWithManagementAgreements
|
$75.00K | USD | 1 Quarter |
| Cash paid for PPE, net |
PaymentsToAcquirePropertyPlantAndEquipment
|
- | USD | 1 Quarter |
| Cash paid for PPE, net |
PaymentsToAcquirePropertyPlantAndEquipment
|
$34.79K | USD | 1 Quarter |
| Cash provided by investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$213.00 | USD | 1 Quarter |
| Cash provided by investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$72.22K | USD | 1 Quarter |
| Principal payments on long term debt |
RepaymentsOfLongTermDebt
|
$4.89K | USD | 1 Quarter |
| Principal payments on long term debt |
RepaymentsOfLongTermDebt
|
$191.52K | USD | 1 Quarter |
| Proceeds from long term debt |
ProceedsFromIssuanceOfLongTermDebt
|
$1.00M | USD | 1 Quarter |
| Proceeds from long term debt |
ProceedsFromIssuanceOfLongTermDebt
|
- | USD | 1 Quarter |
| Payments on factoring agreement, net |
PaymentsOnFactoringAgreementNet
|
$-112.29K | USD | 1 Quarter |
| Payments on factoring agreement, net |
PaymentsOnFactoringAgreementNet
|
$-415.20K | USD | 1 Quarter |
| Proceeds from sale of series B preferred equity |
ProceedsFromSaleOfSeriesBPreferredEquity
|
$500.00K | USD | 1 Quarter |
| Proceeds from sale of series B preferred equity |
ProceedsFromSaleOfSeriesBPreferredEquity
|
- | USD | 1 Quarter |
| Cash provided by financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$79.90K | USD | 1 Quarter |
| Cash provided by financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$696.19K | USD | 1 Quarter |
| Increase (decrease) in cash and restricted cash |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$-290.87K | USD | 1 Quarter |
| Increase (decrease) in cash and restricted cash |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$51.13K | USD | 1 Quarter |
| Cash and restricted cash, beginning of period |
Cash
|
$925.63K | USD | Point-in-time |
| Cash and restricted cash, beginning of period |
Cash
|
$385.67K | USD | Point-in-time |
| Cash and restricted cash, beginning of period |
Cash
|
$976.76K | USD | Point-in-time |
| Cash and restricted cash, beginning of period |
Cash
|
$94.79K | USD | Point-in-time |
| Cash and restricted cash, end of period |
Cash
|
$925.63K | USD | Point-in-time |
| Cash and restricted cash, end of period |
Cash
|
$385.67K | USD | Point-in-time |
| Cash and restricted cash, end of period |
Cash
|
$976.76K | USD | Point-in-time |
| Cash and restricted cash, end of period |
Cash
|
$94.79K | USD | Point-in-time |
| Equipment for notes payable |
EquipmentForNotesPayable
|
$481.66K | USD | 1 Quarter |
| Equipment for notes payable |
EquipmentForNotesPayable
|
- | USD | 1 Quarter |
| Preferred Series B Dividends |
DividendsPreferredStock
|
- | USD | 1 Quarter |
| Preferred Series B Dividends |
DividendsPreferredStock
|
$70.16K | USD | 1 Quarter |
| Conversion of note payable to common stock |
ConversionOfStockAmountConverted1
|
- | USD | 1 Quarter |
| Conversion of note payable to common stock |
ConversionOfStockAmountConverted1
|
$50.00K | USD | 1 Quarter |
| Beneficial conversion feature on note payable |
DebtInstrumentConvertibleBeneficialConversionFeature
|
$50.00K | USD | 1 Quarter |
| Beneficial conversion feature on note payable |
DebtInstrumentConvertibleBeneficialConversionFeature
|
- | USD | 1 Quarter |
| Cash paid for interest |
InterestPaid
|
$45.69K | USD | 1 Quarter |
| Cash paid for interest |
InterestPaid
|
$66.67K | USD | 1 Quarter |
| Cash paid for income taxes |
IncomeTaxesPaidNet
|
- | USD | 1 Quarter |
| Cash paid for income taxes |
IncomeTaxesPaidNet
|
- | USD | 1 Quarter |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.