American Resources Corporation (AREC) financial statements (2020 and earlier)
Company profile
| Business Address |
9002 TECHNOLOGY LANE 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)
| 9/30/2019 TTM | 12/31/2018 | 12/31/2017 | 9/30/2016 | 9/30/2015 | |||
|---|---|---|---|---|---|---|---|
| ASSETS | |||||||
| Current Assets | |||||||
| Cash, cash equivalents, and short-term investments | 1 | 3 | 0 | 0 | 0 | ||
| Cash and cash equivalents | 1 | 3 | 0 | 0 | 0 | ||
| Inventory, net of allowances, customer advances and progress billings | 1 | 0 | 1 | 0 | 0 | ||
| Inventory | 1 | 0 | 1 | 0 | 0 | ||
| Prepaid expense | 0 | 0 | 0 | ||||
| Other current assets | (0) | ||||||
| Other undisclosed current assets | 0 | 1 | 2 | 0 | 0 | ||
| Total current assets: | 3 | 4 | 3 | 0 | 1 | ||
| Noncurrent Assets | |||||||
| Inventory, Noncurrent | 10 | 9 | 9 | ||||
| Long-term investments and receivables | 4 | 4 | 4 | ||||
| Accounts and financing receivable, after allowance for credit loss | 4 | 4 | 4 | ||||
| Intangible assets, net (including goodwill) | 0 | ||||||
| Goodwill | 0 | ||||||
| Intangible assets, net (excluding goodwill) | 0 | ||||||
| Restricted cash and investments | 0 | 0 | 0 | ||||
| Other undisclosed noncurrent assets | 51 | 24 | 2 | 0 | 0 | ||
| Total noncurrent assets: | 65 | 37 | 16 | 0 | 0 | ||
| TOTAL ASSETS: | 68 | 41 | 18 | 0 | 1 | ||
| LIABILITIES AND EQUITY | |||||||
| Liabilities | |||||||
| Current Liabilities | |||||||
| Accounts payable and accrued liabilities | 7 | 9 | 6 | 0 | |||
| Accounts payable | 8 | 5 | 0 | ||||
| Accrued liabilities | 2 | 1 | 0 | ||||
| Other undisclosed accounts payable and accrued liabilities | 6 | ||||||
| Debt | 15 | 14 | 10 | 0 | |||
| Accrued reclamation costs | 2 | 2 | |||||
| Due to related parties | 1 | 1 | 0 | 0 | |||
| Other undisclosed current liabilities | 12 | 0 | 18 | 0 | 0 | ||
| Total current liabilities: | 34 | 26 | 35 | 0 | 0 | ||
| Noncurrent Liabilities | |||||||
| Long-term debt and lease obligation | 5 | 8 | 5 | ||||
| Long-term debt, excluding current maturities | 5 | 8 | 5 | ||||
| Liabilities, other than long-term debt | 0 | ||||||
| Accounts payable and accrued liabilities | 0 | ||||||
| Other undisclosed noncurrent liabilities | 21 | 16 | 18 | (0) | |||
| Total noncurrent liabilities: | 26 | 24 | 23 | ||||
| Total liabilities: | 61 | 51 | 58 | 0 | 0 | ||
| Stockholders' equity | |||||||
| Stockholders' equity attributable to parent, including: | 7 | (9) | (40) | (0) | 1 | ||
| Common stock | 0 | 0 | |||||
| Additional paid in capital | 90 | 43 | 2 | 1 | 1 | ||
| Accumulated deficit | (83) | (52) | (42) | (1) | (1) | ||
| Other undisclosed stockholders' equity attributable to parent | 0 | 0 | |||||
| Stockholders' equity attributable to noncontrolling interest | 0 | 1 | |||||
| Other undisclosed stockholders' equity | (0) | 0 | 0 | ||||
| Total stockholders' equity: | 7 | (9) | (40) | (0) | 1 | ||
| Other undisclosed liabilities and equity | (0) | 0 | |||||
| TOTAL LIABILITIES AND EQUITY: | 68 | 41 | 18 | 0 | 1 | ||
Income statement (P&L) ($ in millions)
| 9/30/2019 TTM | 12/31/2018 | 12/31/2017 | 9/30/2016 | 9/30/2015 | ||
|---|---|---|---|---|---|---|
| Revenues | 25 | 32 | 21 | 0 | 0 | |
| Revenue, net | ✕ | ✕ | 0 | 0 | ||
| Other income | 1 | 0 | 0 | (0) | ||
| Cost of revenue (Cost of Goods and Services Sold) | (0) | (0) | (0) | (0) | ||
| Other undisclosed gross profit | 0 | |||||
| Gross profit: | 25 | 31 | 21 | 0 | 0 | |
| Operating expenses | 55 | 43 | 35 | (1) | (0) | |
| Other undisclosed operating loss | (111) | (86) | (70) | |||
| Operating loss: | (30) | (11) | (14) | (1) | (0) | |
| Nonoperating expense (Other Nonoperating expense) | (6) | |||||
| Interest and debt expense | 1 | (1) | (1) | |||
| Loss from continuing operations: | (36) | (13) | (15) | (1) | (0) | |
| Income from discontinued operations | 0 | |||||
| Loss before gain (loss) on sale of properties: | (36) | (13) | (15) | (1) | (0) | |
| Other undisclosed net loss | (1) | |||||
| Net loss: | (37) | (13) | (15) | (1) | (0) | |
| Net income (loss) attributable to noncontrolling interest | 0 | 0 | 0 | (0) | ||
| Other undisclosed net income (loss) attributable to parent | 1 | (0) | 0 | (0) | (0) | |
| Net loss available to common stockholders, diluted: | (36) | (13) | (14) | (1) | (0) | |
Comprehensive Income ($ in millions)
| 9/30/2019 TTM | 12/31/2018 | 12/31/2017 | 9/30/2016 | 9/30/2015 | ||
|---|---|---|---|---|---|---|
| Net loss: | (37) | (13) | (15) | (1) | (0) | |
| Comprehensive loss: | (37) | (13) | (15) | (1) | (0) | |
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | 0 | 0 | 0 | (0) | ||
| Comprehensive loss, net of tax, attributable to parent: | (37) | (13) | (14) | (1) | (0) | |
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.