American Resources Corp

For the period ended Dec 31, 2024. Filed May 19, 2025.

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.

FY2024 · Filed May 19, 2025

AREC$1.08-7.7%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

	For the Years Ended
	December 31,
2024 · 2023
Cash Flows from Operating activities:
Net loss		$(40,196,740)		$(38,724,963)
Adjustments to reconcile net loss to net cash
Noncash stock-based compensation expense		3,725,484		3,766,629
Depreciation expense		2,735,972		2,323,431
Amortization of mining rights		1,543,226		1,222,686
Accretion expense		991,520		992,749
Amortization of right-to-use assets - related party		823,627		-
Amortization of issuance costs and debt discount		112,143		59,271
Investment in other entities - related parties, net		409,268		562,696
Gain on sale of equipment		(400,000)		(1,625,000)
Issuance of common shares for services		143,575		100,000
Allowance for losses on due from related party		190,000		-
Allowance for losses on note receivable		99,022		-
Unrealized gain on short-term investments		45,514		15,342
Change in current assets and liabilities:
Interest receivable		(85,991)		-
Receivables		(6,675)		660,756
Due from related party		(530,000)		(352,243)
Inventories		(829,998)		316,699
Prepaid expenses and other current assets		583,825		(942,557)
Trade and non-trade payable		1,411,878		(3,118,438)
Accounts payable related party		4,583,184		(253,128)
Accrued expenses		295,132		311,809
Accrued litigation settlements		240,658		14,103,270
Accrued interest		1,661,089		377,306
Other current liabilities		-		100,000
Operating lease assets and liabilities, net		4,755		2,756
Operating lease assets and liabilities, net - related party		224,180		-
Cash used in operating activities		(22,225,352)		(20,100,929)
Cash Flows from Investing activities:
Purchase of property and equipment, net of capitalized interest income and (expense)		(1,059,062)		(3,616,866)
Proceeds from sale of equipment		400,000		1,625,000
Proceeds from short-term investments, net		715,038		641,617
Cash provided by (used in) investing activities		55,976		(1,350,249)
Cash Flows from Financing activities:
Proceeds from tax exempt bonds, net		149,719,203		43,475,888
Proceeds from convertible promissory note		1,624,860		486,556
Proceeds from the exercise of stock option		156,900		-
Proceeds received from other financing obligation		2,493,819		7,733,231
Cash received from warrant conversions		32,339		-
Repayment on current portion of long-term debt		-		222,822
Repayments of other financing obligation		(7,365,639)		(6,083,386)
Cash provided by financing activities		146,661,482		45,835,111
Increase in cash		124,492,106		24,383,933
Cash and cash equivalents, including restricted cash, beginning of period		30,874,762		10,990,829
Cash and cash equivalents, including restricted cash, end of period		$155,366,868		$35,374,762
SUPPLEMENTAL CASH FLOW INFORMATION
Common stock issued to settle accounts payable and accrued expenses		$595,785	$	-
Dividend-in-kind of Novustera, Inc. common stock to shareholders		$1,361,788	$	-
Acquisition of assets through operating leases - related party		$1,897,736	$	-
Acquisition of assets through finance lease - related party		$19,786,394	$	-
Conversion of convertible debt into common stock	$	-		$9,787,423

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