American Resources Corp (AREC) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
12115 VISIONARY WAY, SUITE 174 FISHERS, IN 46038 |
| State of Incorp. | FL |
| Fiscal Year End | December 31 |
| Industry (SIC) | 122 - Bituminous Coal And Lignite Mining (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 9/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 32,964 | 8,869 | 11,493 | 11,201 | 269 | 2,705 | |||
| Cash and cash equivalent | 2,667 | 8,869 | 11,493 | 11,201 | 269 | 2,705 | |||
| Short-term investments | 30,297 | ||||||||
| Receivables | (254) | 661 | 3,181 | 39 | |||||
| Inventory, net of allowances, customer advances and progress billings | 54 | 447 | 151 | 516 | 164 | ||||
| Inventory | 54 | 447 | 151 | 516 | 164 | ||||
| Prepaid expense | 787 | 625 | 175 | 148 | |||||
| Other undisclosed current assets | 2,121 | (349) | 2,394 | 1,247 | |||||
| Total current assets: | 34,885 | 10,763 | 15,298 | 11,216 | 3,178 | 4,263 | |||
| Noncurrent Assets | |||||||||
| Inventory, Noncurrent | 6,838 | 8,294 | 8,717 | ||||||
| Finance lease, right-of-use asset, after accumulated amortization | 13,034 | ✕ | |||||||
| Operating lease, right-of-use asset | 13,034 | 726 | ✕ | ||||||
| Property, plant and equipment | 15,337 | 9,114 | 22,903 | ||||||
| Long-term investments and receivables | 18,780 | 4,117 | 4,117 | ||||||
| Long-term investments | 18,780 | ||||||||
| Accounts and financing receivable, after allowance for credit loss | 4,117 | 4,117 | |||||||
| Restricted cash and investments | 6,798 | 2,122 | 1,095 | 584 | 265 | 412 | |||
| Other undisclosed noncurrent assets | 15,946 | 7,850 | 2,850 | 19,777 | 19,375 | 23,855 | |||
| Total noncurrent assets: | 56,861 | 45,154 | 27,575 | 27,200 | 32,052 | 37,101 | |||
| TOTAL ASSETS: | 91,746 | 55,916 | 42,873 | 38,415 | 35,230 | 41,364 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 513 | 107 | 1,325 | 4,289 | 13,914 | 9,258 | |||
| Accounts payable | 11,044 | 8,140 | |||||||
| Accrued liabilities | 513 | 107 | 1,325 | 1,044 | 2,870 | 1,119 | |||
| Other undisclosed accounts payable and accrued liabilities | 3,245 | ||||||||
| Debt | 805 | 1,918 | 5,284 | 20,495 | 14,169 | ||||
| Asset retirement obligation | 2,327 | ||||||||
| Accrued reclamation costs | 20,296 | 2,327 | 2,327 | ||||||
| Other liabilities | 200 | ||||||||
| Due to related parties | ✕ | ✕ | 4,007 | 753 | 851 | 599 | |||
| Other undisclosed current liabilities | 16,553 | 5,117 | 5,920 | 15,892 | 7,420 | 80 | |||
| Total current liabilities: | 18,071 | 27,437 | 16,535 | 23,261 | 45,006 | 26,433 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 8,320 | 548 | 5,331 | 5,415 | 7,919 | ||||
| Long-term debt, excluding current maturities | 805 | 548 | 5,331 | 5,415 | 7,919 | ||||
| Finance lease, liability | 7,515 | ✕ | |||||||
| Liabilities, other than long-term debt | 13,371 | 562 | 15,528 | 17,513 | |||||
| Asset retirement obligations | 15,528 | 17,513 | |||||||
| Lease deposit liability | 12,875 | ✕ | |||||||
| Operating lease, liability | 496 | 562 | ✕ | ||||||
| Other undisclosed noncurrent liabilities | 51,762 | 28,195 | 27,482 | 14,301 | 16,212 | ||||
| Total noncurrent liabilities: | 73,452 | 28,195 | 28,593 | 35,160 | 22,928 | 24,131 | |||
| Total liabilities: | 91,522 | 55,632 | 45,128 | 58,421 | 67,934 | 50,564 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 224 | 285 | (2,345) | (20,006) | (32,705) | (9,200) | |||
| Common stock | 8 | 7 | 7 | 4 | 3 | ||||
| Additional paid in capital | 178,911 | 167,517 | 163,442 | 113,279 | 90,326 | 42,914 | |||
| Accumulated deficit | (178,694) | (167,239) | (165,794) | (133,289) | (123,033) | (52,115) | |||
| Other undisclosed equity, attributable to parent | 0 | 2 | |||||||
| Equity, attributable to noncontrolling interest | |||||||||
| Other undisclosed equity | 90 | ||||||||
| Total equity: | 224 | 285 | (2,255) | (20,006) | (32,705) | (9,200) | |||
| Other undisclosed liabilities and equity | (0) | ||||||||
| TOTAL LIABILITIES AND EQUITY: | 91,746 | 55,916 | 42,873 | 38,415 | 35,230 | 41,364 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 16,744 | 39,474 | 7,755 | 1,060 | 24,478 | 31,525 | ||
| Gain (loss) on disposition of assets for financial service operations | (8,475) | 6,821 | 6,821 | |||||
| Net investment income | 31 | 231 | 206 | 165 | 164 | |||
| Cost of revenue | (1,241) | (21,688) | (7,089) | (3,750) | (26,087) | (321) | ||
| Cost of product and service sold | (321) | |||||||
| Amortization of mortgage servicing rights (msrs) | (1,241) | (1,238) | ||||||
| Other undisclosed gross profit | ||||||||
| Gross profit: | 15,503 | 17,787 | 666 | (2,690) | (1,609) | 31,204 | ||
| Operating expenses | (28,166) | (63,472) | (36,089) | 17,507 | 43,022 | |||
| Other operating income, net (Other undisclosed Other operating income, net) | ||||||||
| Other undisclosed operating income (loss) | 1,241 | 21,688 | 7,089 | (31,265) | (58,345) | (85,722) | ||
| Operating loss: | (11,422) | (23,997) | (28,333) | (16,447) | (59,954) | (11,497) | ||
| Nonoperating income (expense) | (33) | 312 | (233) | 7,363 | ||||
| Debt instrument, convertible, beneficial conversion feature | 7,363 | |||||||
| Other nonoperating expense | (33) | |||||||
| Interest and debt expense | (1,337) | (4,472) | (4,160) | (3,383) | 2,909 | (1,289) | ||
| Loss from continuing operations before equity method investments, income taxes: | (12,792) | (28,157) | (32,726) | (19,831) | (49,683) | (12,786) | ||
| Loss from equity method investments | ||||||||
| Loss from continuing operations: | (12,792) | (28,157) | (32,726) | (19,831) | (49,683) | (12,786) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | (19,831) | (49,683) | (12,786) | |
| Other undisclosed net income (loss) | 1,337 | 29,603 | 222 | (21,236) | ||||
| Net income (loss): | (11,455) | 1,446 | (32,504) | (19,831) | (70,918) | (12,786) | ||
| Net income attributable to noncontrolling interest | 151 | |||||||
| Other undisclosed net income (loss) attributable to parent | 22,910 | (2,891) | 9,575 | (123) | ||||
| Net income (loss) available to common stockholders, diluted: | 11,455 | (1,446) | (32,504) | (10,256) | (70,918) | (12,757) | ||
Comprehensive Income ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (11,455) | 1,446 | (32,504) | (19,831) | (70,918) | (12,786) | ||
| Comprehensive income (loss): | (11,455) | 1,446 | (32,504) | (19,831) | (70,918) | (12,786) | ||
| Comprehensive income, net of tax, attributable to noncontrolling interest | 151 | |||||||
| Comprehensive income (loss), net of tax, attributable to parent: | (11,455) | 1,446 | (32,504) | (19,831) | (70,918) | (12,634) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.