American Resources Corporation (AREC) financial statements (2021 and earlier)

Company profile

Business Address 12115 VISIONARY WAY, SUITE 174
FISHERS, IN 46038
State of Incorp. FL
Fiscal Year End December 31
SIC 76 - Miscellaneous Repair Services (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1112001
Cash and cash equivalents1112001
Receivables0     
Inventory, net of allowances, customer advances and progress billings000011
Inventory000011
Prepaid expense0000 0
Other undisclosed current assets(0)(0)(0)(0)20
Total current assets:1112133
Noncurrent Assets
Inventory, Noncurrent7789810
Long-term investments and receivables 44444
Accounts and financing receivable, after allowance for credit loss 44444
Restricted cash and investments111000
Other undisclosed noncurrent assets201618181951
Total noncurrent assets:272830313265
TOTAL ASSETS:382932323568
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:461314147
Accounts payable  111211 
Accrued liabilities111232
Other undisclosed accounts payable and accrued liabilities35   6
Debt 1217182015
Accrued reclamation costs2222  
Due to related parties111111
Other undisclosed current liabilities165  1012
Total current liabilities:232633354534
Noncurrent Liabilities
Long-term debt and lease obligation555555
Long-term debt, excluding current maturities555555
Liabilities, other than long-term debt16181720  
Asset retirement obligations16181720  
Other undisclosed noncurrent liabilities14151271821
Total noncurrent liabilities:353734322326
Total liabilities:586367676861
Stockholders' equity
Stockholders' equity attributable to parent, including:(20)(34)(34)(35)(33)7
Common stock00  00
Additional paid in capital1139191919090
Accumulated deficit(133)(125)(125)(126)(123)(83)
Other undisclosed stockholders' equity attributable to parent0 00  
Total stockholders' equity:(20)(34)(34)(35)(33)7
TOTAL LIABILITIES AND EQUITY:382932323568

Income statement (P&L) ($ in millions)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
Revenues000162
Gain on disposition of assets for financial service operations  7   
Net investment income0000 0
Other income00(2)1  
Cost of revenue(1)(0)(1) (26) 
Gross profit:(1)0(0)1(20)2
Operating expenses28(3)3(5)(39)9
Other undisclosed operating income (loss)(31) (5) 19(18)
Operating loss:(5)(2)(3)(4)(40)(7)
Nonoperating income (expense) 24118(0)
Other nonoperating income (expense) 241 (0)
Interest and debt expense(1)(0)(1)(1)11
Other undisclosed loss from continuing operations before equity method investments, income taxes(7)     
Income (loss) before gain (loss) on sale of properties:(14)(0)0(4)(20)(6)
Other undisclosed net income (loss)  1 (21)(1)
Net income (loss):(14)(0)1(4)(42)(7)
Other undisclosed net income attributable to parent50 12 
Net income (loss) available to common stockholders, diluted:(8)01(3)(40)(7)

Comprehensive Income ($ in millions)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
Net income (loss):(14)(0)1(4)(42)(7)
Comprehensive income (loss), net of tax, attributable to parent:(14)(0)1(4)(42)(7)

Statements sources

The financial statements are based on the company's filings with the 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.

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