American Resources Corp

Listed Company

ARECCIK 0001590715NasdaqNon-AcceleratedSmaller ReportingSilver OresFloridaFY ends Dec 31

Period

FY 2025

Revenue

Net Income

$55.39M

Total Assets

$168.91M

Equity

$94.78M

Shares Out

106.97M

Op. Cash Flow

$-10.41M

Business

American Resources Corp operates coal mining and processing businesses and related mineral development activities through multiple subsidiaries focused on coal property acquisition, mine development, processing and reclamation. Its primary products and services include metallurgical coal, pulverized coal injection (PCI) and industrial coal sales, coal preparation and rail loadout services, mine reclamation and monetization of infrastructure, along with metal recovery and rare earth purification through Electrified Materials and ReElement. The company organizes operations across seven coal operating subsidiaries and additional subsidiaries for recovered metals and critical/rare earth element processing. It conducts mining, processing and sales primarily in eastern Kentucky, western West Virginia and southwest Indiana, selling domestically and internationally via rail and third-party intermediaries.

Summary from filing dated 2025-05-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	Dec 31, 2025 2025-12-31	Dec 31, 2024 2024-12-31
CONSOLIDATED STATEMENTS OF OPERATIONS	—	—
Revenue	—	—
Metal recovery and sales	0	34,070
Total revenue	0	34,070
Operating expenses	—	—
Cost of coal sales and processing	306,639	530,891
Depreciation	122,916	123,253
Selling, General and Administrative Expense	10	11
Professional Fees	478,449	2
Non-Operating Income (Expense)	720,283	0
Other Operating Expense	14,851	11,638
Other Operating Expense	107,507	434,793
Total operating expenses	11	14
Net loss from operations	−11	−14
Other income (expense)	—	—
Income from Equity Method Investments	−84,063	−409,268
Interest Expense	−5	0
Non-Operating Income (Expense)	−61,927	110,060
Interest Income	577,526	78,791
Interest expense	2	2
Total other income (expenses)	−7	−2
Loss from continuing operations	−18	−16
Income (loss) from discontinued operations (Note 2	73	−23
Net income (loss)	55	−39
Net loss attributable to non-controlling interest	−26,526	−87,814
Net income (loss) attributable to ARC shareholders	55	−39
Loss from continuing operations per share, basic and diluted	−0.2	−0.21
Income (loss) from discontinued operations per share, basic and diluted	0.84	−0.3
Earnings Per Share (Diluted)	0.63	−0.51
Weighted Average Shares Outstanding, Diluted	87	77

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	Dec 31, 2025 2025-12-31	Dec 31, 2024 2024-12-31
CONSOLIDATED BALANCE SHEETS	—	—
Cash and Cash Equivalents	32	201,456
Short-Term Investments	40	587,357
Other Non-Operating Current Assets	85,991	85,991
Other Non-Operating Current Assets	3	620,042
Accounts receivable - related party - net of allowance of $62,030,311 and $0 for the years ended December 31, 2025 and 2024 respectively.	59	82
Current assets - discontinued operations	0	−10
Total current assets	134	93
Non-current assets:	—	—
Restricted Cash, Non-Current	380,770	380,770
Property, Plant and Equipment	143,069	228,688
Operating Lease Right-of-Use Asset	459,091	508,633
Right-of-use assets, net - related party	1	2
Long-Term Investments	32	2
Notes Receivable, Non-Current	0	280,000
Other Non-Operating Non-Current Assets	0	184
Total assets	169	282
Current liabilities:	—	—
Trade payables	1	2
Non-trade payables	474,407	471,566
Accounts payable - related party	52	18
Other Current Liabilities	391,401	544,865
Other Current Liabilities	2	2
Other Non-Operating Current Liabilities	54,849	68,465
Operating Lease Liability, Current	139,918	49,529
Operating lease liabilities, current - related party	1	714,942
Other financing obligations, current	4	6
Other Non-Operating Current Liabilities	0	137
Total current liabilities	61	166
Non-current liabilities:	—	—
Long-Term Debt	965,286	0
Other financing obligations, net of current portion	12	6
Operating Lease Liability, Non-Current	453,179	511,247
Operating lease liabilities, non-current - related party	922,411	1
Other Non-Operating Non-Current Liabilities	0	188
Total liabilities	76	363
Stockholders' deficit:	—	—
Total Stockholders' Equity	10,692	7,802
Additional Paid-In Capital	305	186
Retained Earnings	−210	−266
Total stockholders' equity (deficit)	95	−79
Noncontrolling Interest	−2	−2
Total equity (deficit)	93	−81
Total liabilities and stockholders' equity (deficit)	169	282

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	Dec 31, 2025 2025-12-31	Dec 31, 2024 2024-12-31
CONSOLIDATED STATEMENTS OF CASH FLOWS	—	—
Cash Flows from Operating activities:	—	—
Net income (loss)	−55	39
Net income (loss) from discontinued operations	73	−23
Net loss from continuing operations	18	16
Adjustments to reconcile net loss to net cash	—	—
Stock-Based Compensation Expense	9	4
Depreciation expense	122,916	123,253
Loss on settlement/conversion of debt to equity	5	0
Interest and dividend income	559,476	0
Investment in other entities - Related Parties, net	84,063	409,268
Issuance of common shares for consulting services	83,969	143,575
Allowance for losses on note receivable	−280,000	0
Unrealized gain on short-term investments	—	−45,514
Change in current assets and liabilities:	—	—
Interest receivable	0	85,991
Accounts receivable - related party	2	−8
Prepaid expenses and other current assets	2	−69,667
Trade and non-trade payable	−3	4
Accrued expenses	−608,180	544,856
Accrued interest	−13,616	44,969
Operating lease assets and liabilities, net	−81,863	−846
Operating lease assets and liabilities, net - related party	−497,253	−373,419
Cash (used in) provided by operating activities	−10	2
Cash Flows from Investing activities:	—	—
Purchase of property and equipment, net of capitalized interest income and (expense)	37,297	−230,932
Purchase of certificate of deposit	−5	0
Proceeds from Investments	0	715,036
Purchases of short-term investments/securities	34	0
Cash (used in) provided by investing activities	−39	945,968
Cash Flows from Financing activities:	—	—
Stock Repurchases (Issuances)	68	0
Proceeds from Debt Issuance	965,286	0
Net Cash from Financing Activities	8	0
Proceeds from Stock Issuance	—	189,239
Proceeds received from other financing obligation	8	2
Repayments of other financing obligation	3	7
Cash provided by (used in) financing activities	81	−4
Net change in cash, cash equivalents and restricted cash from continuing operations	32	−1
Cash flows from discontinued operations:	—	—
Net Cash from Operating Activities	−7	−23
Net Cash from Investing Activities	−4	−126
Net Cash from Financing Activities	13	150
Net change in cash and cash equivalents, discontinued operations	2	449,968
Cash and cash equivalents, including discontinued operations, beginning of year	—	—
Cash and cash equivalents, including discontinued operations, end of year	—	—
Less: Cash and cash equivalents at end of period discontinued operations	—	—
Cash, cash equivalents, and Restricted Cash	—	—
SUPPLEMENTAL CASH FLOW INFORMATION	—	—
Exercise of cashless common stock options and warrants	59	87
Dividend-in-kind of Novustera, Inc. common stock to shareholders	0	1
Acquisition of assets through operating leases - related party	0	2
Common stock issued to settle accounts payable and accrued expenses	6	1
Common stock issued to settle debt	6	0

Filings

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