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
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments11030
Cash and cash equivalents11030
Receivables0   
Inventory, net of allowances, customer advances and progress billings0101
Inventory0101
Prepaid expense0 0 
Other undisclosed current assets(0)212
Total current assets:11343
Noncurrent Assets
Inventory, Noncurrent7899
Long-term investments and receivables 444
Accounts and financing receivable, after allowance for credit loss 444
Restricted cash and investments1000
Other undisclosed noncurrent assets2019242
Total noncurrent assets:27323716
TOTAL ASSETS:38354118
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:41496
Accounts payable 1185
Accrued liabilities1310
Other undisclosed accounts payable and accrued liabilities3   
Debt 201410
Accrued reclamation costs2 22
Due to related parties1110
Other undisclosed current liabilities1610018
Total current liabilities:23452635
Noncurrent Liabilities
Long-term debt and lease obligation5585
Long-term debt, excluding current maturities5585
Liabilities, other than long-term debt16   
Asset retirement obligations16   
Other undisclosed noncurrent liabilities14181618
Total noncurrent liabilities:35232423
Total liabilities:58685158
Stockholders' equity
Stockholders' equity attributable to parent, including:(20)(33)(9)(40)
Common stock00 0
Additional paid in capital11390432
Accumulated deficit(133)(123)(52)(42)
Other undisclosed stockholders' equity attributable to parent0 00
Other undisclosed stockholders' equity   (0)
Total stockholders' equity:(20)(33)(9)(40)
Other undisclosed liabilities and equity  (0)0
TOTAL LIABILITIES AND EQUITY:38354118

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues1243221
Gain on disposition of assets for financial service operations7  
Net investment income0000
Cost of revenue(4)(26)(0) 
Cost of goods and services sold  (0) 
Gross profit:(3)(2)3121
Operating expenses18 4335
Other undisclosed operating loss(31)(58)(86)(70)
Operating loss:(16)(60)(11)(14)
Nonoperating income
(Debt Instrument, Convertible, Beneficial Conversion Feature)
 7  
Interest and debt expense(3)3(1)(1)
Loss before gain (loss) on sale of properties:(20)(50)(13)(15)
Other undisclosed net loss (21)  
Net loss:(20)(71)(13)(15)
Net income attributable to noncontrolling interest  00
Other undisclosed net income (loss) attributable to parent10 (0)0
Net loss available to common stockholders, diluted:(10)(71)(13)(14)

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net loss:(20)(71)(13)(15)
Comprehensive loss:(20)(71)(13)(15)
Comprehensive income, net of tax, attributable to noncontrolling interest  00
Comprehensive loss, net of tax, attributable to parent:(20)(71)(13)(14)

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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