American Resources Corp
For the period ended Mar 31, 2024. Filed May 20, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 20, 2024
Contents
Cover page
Show cover page
10-Q 1 arec_10q.htm FORM 10-Q
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the quarterly period ended:March 31, 2024
or
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the transition period from _______ to _______
Commission File Number:000-55456
American Resources Corporation
(Exact name of registrant as specified in its charter)
| Florida | 46-3914127 |
|---|---|
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
12115 Visionary Way Fishers, Indiana 46038
(Address and Zip Code of principal executive offices)
Registrant’s telephone number, including area code:(317) 855-9926
Indicate by check mark whether the Issuer (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of the “large accelerated filer,” “accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
|---|---|---|---|
| Non-accelerated Filer | ☐ | Smaller Reporting Company | ☒ |
| Emerging growth company | ☐ | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Class A Common | AREC | NASDAQ Capital Market |
| Warrant | ARECW | NASDAQ Capital Market |
As of May 20, 2024, the registrant had 77,392,957 shares of Class A common stock issued and outstanding.
AMERICAN RESOURCES CORPORATION
TABLE OF CONTENTS
| PAGE | |||
|---|---|---|---|
| PART I. FINANCIAL INFORMATION | |||
| Item 1. | Condensed Consolidated Financial Statements | 3 | |
| Condensed Consolidated Balance Sheets – March 31, 2024 (Unaudited) and December 31, 2023 | 3 | ||
| Condensed Consolidated Statements of Operation (Unaudited) for the Three Months Ended March 31, 2024 and 2023 | 4 | ||
| Condensed Consolidated Statements of Changes in Stockholders’ (Deficit) Equity (unaudited) for the Three Months ended March 31, 2024 and 2023 | 5 | ||
| Condensed Consolidated Statements of Cash Flows (Unaudited) for the Three Months ended March 31, 2024 and 2023 | 6 | ||
| Notes to Unaudited Condensed Consolidated Financial Statements | 7 | ||
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 22 | |
| Item 3. | Quantitative and Qualitative Disclosures about Market Risk | 31 | |
| Item 4. | Controls and Procedures | 31 | |
| PART II. OTHER INFORMATION | |||
| Item 1. | Legal Proceedings | 33 | |
| Item 1A. | Risk Factors | 33 | |
| Item 2. | Unregistered Sale of Equity Securities and Use of Proceeds | 33 | |
| Item 3. | Defaults upon Senior Securities | 33 | |
| Item 4. | Mine Safety Disclosures | 33 | |
| Item 5. | Other Information | 33 | |
| Item 6. | Exhibits | 34 | |
| SIGNATURES | 35 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.