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$1.08-7.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| 2023 | 2022 | |
|---|---|---|
| Cash Flows from Operating activities: | ||
| Net loss | $(11,455,086) | $(1,445,672) |
| Adjustments to reconcile net income loss) to net cash | ||
| Depreciation expense | 46,953 | 2,157,763 |
| Amortization of mining rights | 1,240,914 | 1,238,449 |
| Accretion expense | 993,165 | 1,344,047 |
| Amortization of right-to-use assets | 626,253 | 128,926 |
| Accretion of right-to-use assets | 64,386 | 73,475 |
| Amortization of issuance costs and debt discount | 52,500 | - |
| Option Expense | 1,506,292 | 1,742,145 |
| Gain on sale of equipment | (8,475,468) | (4,510,043) |
| Unrealized gain on short-term investments | (499,639) | (9,562) |
| Gain on debt forgiveness | - | (3,046,062) |
| Issuance of common shares for services | 100,000 | 38,800 |
| Change in current assets and liabilities: | ||
| Accounts receivable | 660,755 | 2,514,880 |
| Inventories | 392,690 | (446,690) |
| Prepaid expenses and other current assets | (1,081,075) | (161,971) |
| Accounts payable | 1,876,680 | 2,428,974 |
| Accrued interest | 406,191 | 363,684 |
| Accounts payable related party | (1,923,535) | 293,516 |
| Right of use assets | 752,783 | (165,032) |
| Other Liabilities | 200,000 | - |
| Cash provided by operating activities | (14,515,241) | 2,549,189 |
| Cash Flows from Investing activities: | ||
| Purchases of short-term investments | (51,865,545) | - |
| Proceeds from sales and maturities of short-term investments | 22,067,980 | - |
| Cash received (paid) for PPE, net | 964,319 | 16,908,129 |
| Cash invested in note receivable | - | 250,978 |
| Investment in LLCs | - | (18,284,866) |
| Cash used in investing activities | (28,833,246) | (1,125,759) |
| Cash Flows from Financing activities: | ||
| Repayments on long term debt | (1,112,850) | (2,214,603) |
| Proceeds from long term debt | - | 2,563,000 |
| Cash used to repurchase shares | - | (93,435) |
| Repayments of finance lease liabilities | (5,599,988) | (1,270,810) |
| Proceeds from tax exempt bonds, net | 44,100,000 | - |
| Cash provided by (used for) financing activities | 37,387,162 | (1,015,848) |
| Increase (decrease) in cash | (5,599,988) | 407,582 |
| Cash and cash equivalents, including restricted cash, beginning of period | 12,995,695 | 12,588,113 |
| Cash and cash equivalents, including restricted cash, end of period | $7,034,370 | $12,995,695 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.