American Resources Corporation (AREC) Financial Statements (2024 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)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments8,86911,49311,2012692,705187
Cash and cash equivalents8,86911,49311,2012692,705187
Receivables6613,18139   
Inventory, net of allowances, customer advances and progress billings447 151516164615
Inventory447 151516164615
Prepaid expense787625175 148 
Other undisclosed current assets  (349)2,3941,2471,901
Total current assets:10,76315,29811,2163,1784,2632,702
Noncurrent Assets
Inventory, Noncurrent   6,8388,2948,7178,887
Finance lease, right-of-use asset, after accumulated amortization 13,034   
Operating lease, right-of-use asset 13,034726  
Property, plant and equipment 9,11422,903    
Long-term investments and receivables    4,1174,1174,245
Accounts and financing receivable, after allowance for credit loss    4,1174,1174,245
Restricted cash and investments 2,1221,095584265412199
Other noncurrent assets      
Other undisclosed noncurrent assets7,8502,85019,77719,37523,8552,230
Total noncurrent assets:45,15427,57527,20032,05237,10115,561
TOTAL ASSETS:55,91642,87338,41535,23041,36418,263
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:1071,3254,28913,9149,2585,697
Accounts payable   11,0448,1405,361
Accrued liabilities1071,3251,0442,8701,119337
Other undisclosed accounts payable and accrued liabilities   3,245   
Debt1,9185,284 20,49514,1699,645
Asset retirement obligation    2,327  
Accrued reclamation costs 20,296 2,327 2,3272,034
Due to related parties 4,007753851599124
Other undisclosed current liabilities5,1175,92015,8927,4208017,923
Total current liabilities:27,43716,53523,26145,00626,43335,424
Noncurrent Liabilities
Long-term debt and lease obligation  5485,3315,4157,9195,082
Long-term debt, excluding current maturities  5485,3315,4157,9195,082
Liabilities, other than long-term debt 56215,52817,513  
Asset retirement obligations   15,52817,513  
Operating lease, liability 562  
Other undisclosed noncurrent liabilities28,19527,48214,301 16,21217,851
Total noncurrent liabilities:28,19528,59335,16022,92824,13122,933
Total liabilities:55,63245,12858,42167,93450,56458,356
Equity
Equity, attributable to parent, including:285(2,345)(20,006)(32,705)(9,200)(40,093)
Common stock7743 0
Additional paid in capital167,517163,442113,27990,32642,9141,527
Accumulated deficit(167,239)(165,794)(133,289)(123,033)(52,115)(42,020)
Other undisclosed equity, attributable to parent   0 2399
Other undisclosed equity  90   (398)
Total equity:285(2,255)(20,006)(32,705)(9,200)(40,491)
Other undisclosed liabilities and equity     (0)398
TOTAL LIABILITIES AND EQUITY:55,91642,87338,41535,23041,36418,263

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues39,4747,7551,06024,47831,52520,821
Gain on disposition of assets for financial service operations 6,8216,821  
Net investment income31231206165164299
Cost of revenue (21,688)(7,089)(3,750)(26,087)(321) 
Cost of goods and services sold     (321) 
Other undisclosed gross profit      
Gross profit:17,787666(2,690)(1,609)31,20420,821
Operating expenses(63,472)(36,089)17,507 43,02234,840
Other undisclosed operating income (loss)21,6887,089(31,265)(58,345)(85,722)(69,680)
Operating loss:(23,997)(28,333)(16,447)(59,954)(11,497)(14,019)
Nonoperating income (expense)312(233) 7,363  
Investment income, nonoperating      
Debt instrument, convertible, beneficial conversion feature    7,363  
Interest and debt expense(4,472)(4,160)(3,383)2,909(1,289)(559)
Loss from continuing operations:(28,157)(32,726)(19,831)(49,683)(12,786)(14,578)
Loss before gain (loss) on sale of properties:(19,831)(49,683)(12,786)(14,578)
Other undisclosed net income (loss)29,603222 (21,236)  
Net income (loss):1,446(32,504)(19,831)(70,918)(12,786)(14,578)
Net income attributable to noncontrolling interest     151343
Other undisclosed net income (loss) attributable to parent(2,891) 9,575 (123)209
Net income (loss) available to common stockholders, diluted:(1,446)(32,504)(10,256)(70,918)(12,757)(14,025)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):1,446(32,504)(19,831)(70,918)(12,786)(14,578)
Comprehensive income (loss):1,446(32,504)(19,831)(70,918)(12,786)(14,578)
Comprehensive income, net of tax, attributable to noncontrolling interest     151343
Other undisclosed comprehensive income, net of tax, attributable to parent      
Comprehensive income (loss), net of tax, attributable to parent:1,446(32,504)(19,831)(70,918)(12,634)(14,235)

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.

Login to ReadyRatios

 

Have you forgotten your password?

Are you a new user?

Login As
You can log in if you are registered at one of these services: