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American Resources Corp

For the period ended Jun 30, 2024. Filed Aug 19, 2024.

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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.

Jun 30, 2024 · Filed Aug 19, 2024

AREC$1.09+14.9%Stored close · as of Nov 6, 2026
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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:June 30, 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)

Florida46-3914127
(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification 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 classTradingSymbol(s)Name of each exchangeon which registered
Class A CommonARECNASDAQ Capital Market
WarrantARECWNASDAQ Capital Market

As of August 19, 2024, the registrant had 77,422,390 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 (Unaudited)3
Condensed Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 20233
Condensed Consolidated Statements of Operations (Unaudited) for the Three and Six Months Ended June 30, 2024 and 20234
Condensed Consolidated Statements of Changes in Stockholders’ Deficit (Unaudited) for the Three and Six Months ended June 30, 2024 and 20235
Condensed Consolidated Statements of Cash Flows (Unaudited) for the Six Months ended June 30, 2024 and 20236
Notes to Unaudited Condensed Consolidated Financial Statements7
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations22
Item 3.Quantitative and Qualitative Disclosures about Market Risk33
Item 4.Controls and Procedures34
PART II. OTHER INFORMATION
Item 1.Legal Proceedings35
Item 1A.Risk Factors35
Item 2.Unregistered Sale of Equity Securities and Use of Proceeds35
Item 3.Defaults upon Senior Securities35
Item 4.Mine Safety Disclosures35
Item 5.Other Information35
Item 6.Exhibits36
SIGNATURES38
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