American Resources Corp

For the period ended Dec 31, 2023. Filed Apr 15, 2024.

About 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 exhibits

Contents

Consolidated Statements of Operations

	Year Ended December 31,
	2023	2022
Revenue
Coal sales	$16,120,841	$39,103,995
Metal recovery and sales	66,552	48,199
Royalty income	556,682	322,075
Total revenue	16,744,075	39,474,269
Operating expenses (income)
Cost of coal sales and processing	11,611,886	21,687,656
Accretion	993,165	1,344,047
Depreciation	46,953	2,157,763
Amortization of mining rights	1,240,914	1,238,449
General and administrative	7,013,833	4,020,464
Professional fees	1,340,745	1,103,322
Production taxes and royalties	2,647,655	3,785,049
Gain on sale of equipment	(8,475,468)	(4,510,043)
Development	11,746,725	28,134,883
Total operating expenses	28,166,408	58,961,590
Net loss from operations	(11,422,333)	(19,487,321)
Other income (expense)
Other income and (expense)	423,281	317,045
Unrealized gain on short-term investments	499,639	-
Gain on cancelation of debt	-	3,119,775
Gain on sales of patents	-	16,000,000
Interest income	381,324	30,982
Interest expense	(1,336,997)	(1,426,153)
Total other (expenses) income	(32,753)	18,041,649
Net loss	$(11,455,086)	$(1,445,672)
Net loss per share - basic	$(0.15)	$(0.02)
Weighted average shares outstanding - basic	75,422,390	66,777,620

**CONSOLIDATED

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.