American Resources Corp
For the period ended Dec 31, 2023. Filed Apr 15, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Apr 15, 2024
AREC$1.17+7.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| December 31, | December 31, | |
|---|---|---|
| 2023 | 2022 | |
| Assets | ||
| Current assets: | ||
| Cash | $2,666,638 | $10,873,432 |
| Accounts receivable | - | 660,755 |
| Short-term investments held in Trust Account - restricted | 30,297,204 | - |
| Inventories | 54,000 | 446,690 |
| Prepaid expenses and other current assets | 1,867,651 | 786,576 |
| Total Current Assets | 34,885,493 | 12,767,453 |
| Cash - restricted | 6,798,029 | 2,122,263 |
| Property and Equipment, net | 15,337,004 | 9,113,722 |
| Right-of-use assets, net | 18,276,913 | 13,033,889 |
| Investment in LLC- Related Party | 18,780,000 | 18,780,000 |
| Notes receivables | 99,022 | 99,022 |
| Total Assets | $91,746,164 | $55,916,349 |
| Liabilities And Equity | ||
| Current liabilities: | ||
| Trade payables | $6,709,224 | $4,916,243 |
| Non-trade payables | 2,607,942 | 2,524,243 |
| Accounts payable - related party | 2,371,697 | 4,295,232 |
| Accrued interest | 512,558 | 106,886 |
| Other Liabilities | 200,000 | - |
| Current portion of long term debt | 804,656 | 1,917,506 |
| Current portion of convertible debt | - | 9,787,423 |
| Operating lease liabilities | 57,663 | 82,669 |
| Finance lease liabilities | 4,806,822 | 3,803,175 |
| Total current liabilities | 18,070,562 | 27,433,377 |
| Remediation liability | 21,288,799 | 20,295,634 |
| Bond payable, net | 44,152,500 | - |
| Operating lease liabilities, non-current | 495,611 | 547,667 |
| Finance lease liabilities, non-current | 7,514,848 | 7,354,975 |
| Total liabilities | 91,522,320 | 55,631,653 |
| Commitments and contingencies (Note 9) | ||
| Stockholders' equity: | ||
| Common stock, $0.0001 par value; 230,000,000 shares authorized, 892,044 and 0 shares issued and outstanding | 7,627 | 6,680 |
| Additional paid-in capital | 178,910,546 | 167,517,259 |
| Accumulated deficit | (178,694,329) | (167,239,243) |
| Total stockholders' equity | 223,844 | 284,696 |
| Total liabilities and stockholders' equity | $91,746,164 | $55,916,349 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.