A
American Resources Corp
ARECCIK 0001590715NasdaqNon-AcceleratedSmaller ReportingBituminous Coal & Lignite MiningFloridaFY ends Dec 31
Period
FY 2025
Revenue
$0
Net Income
$55.39M
Total Assets
$168.91M
Equity
$94.78M
Shares Out
106.97M
Op. Cash Flow
$-10.41M
Business
American Resources Corporation (ARC) operates through American Infrastructure Corporation, a wholly-owned subsidiary, as a diversified mineral and infrastructure company. The company mines and processes metallurgical coal, bituminous coal, and pulverized coal injection products from six coal mining subsidiaries in the Central Appalachian and Illinois coal basins. ARC also operates Electrified Materials Corporation for recovered metal and steel aggregation, and ReElement Technologies (formerly American Rare Earth LLC) for critical and rare earth element purification and monetization.
Summary from 10-K filed 2026-05-19
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Metal recovery and sales | 0 | 34,070 | — | — | — | |
| Total revenue | 0 | 34,070 | 17 | 39 | 8 | |
| Cost of coal sales and processing | 306,639 | 530,891 | 12 | 22 | — | |
| Depreciation | 122,916 | 123,253 | 46,953 | 2 | −2 | |
| General and administrative | 10 | 11 | 7 | 4 | −4 | |
| Professional fees | 478,449 | 2 | 1 | 1 | −1 | |
| Litigation expense | 720,283 | 0 | — | — | — | |
| Production taxes and royalties | 14,851 | 11,638 | 3 | 4 | −1 | |
| Development | 107,507 | 434,793 | 12 | 28 | −18 | |
| Total operating expenses | 11 | 14 | 28 | 59 | −36 | |
| Net loss from operations | −11 | −14 | −11 | −19 | −28 | |
| Losses from equity method investees | −84,063 | −409,268 | — | — | — | |
| Loss on debt extinguishment | −5 | 0 | — | — | — | |
| Other income and (expense) | −61,927 | 110,060 | −32,753 | 18 | — | |
| Interest income | 577,526 | 78,791 | 381,324 | 30,982 | — | |
| Interest expense | −2 | −2 | — | — | — | |
| Total other income (expenses) | −7 | −2 | — | 312,179 | −232,994 | |
| Loss from continuing operations | −18 | −16 | — | — | — | |
| Income (loss) from discontinued operations (Note 2 | 73 | −23 | — | — | — | |
| Net income (loss) | 55 | −39 | −11 | −1 | — | |
| Net loss attributable to non-controlling interest | 26,526 | 87,814 | — | — | — | |
| Net income (loss) attributable to ARC shareholders | 55 | −39 | — | −1 | −33 | |
| 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 | — | — | — | |
| Total income (loss) per share, basic and diluted | 0.63 | −0.51 | — | — | — | |
| Weighted average shares outstanding - basic and diluted | 87 | 77 | — | — | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2022 2022-01-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 32 | 201,456 | — | — | — | |
| Short-term investments | 40 | 587,357 | 30 | 0 | — | |
| Interest receivables | 85,991 | 85,991 | — | — | — | |
| Prepaid expenses and other current assets | 3 | 620,042 | 2 | 786,576 | — | |
| 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 | 35 | 13 | — | |
| Restricted cash | 380,770 | 380,770 | — | — | — | |
| Property and equipment, net | 143,069 | 228,688 | 15 | 9 | — | |
| Right-of-use assets, net | 459,091 | 508,633 | — | 13 | — | |
| Right-of-use assets, net - related party | 1 | 2 | — | — | — | |
| Investment in other entities - related parties | 32 | 2 | — | — | — | |
| Notes receivable, net | 0 | 280,000 | — | — | — | |
| Non-current assets - discontinued operations | 0 | 184 | — | — | — | |
| Total assets | 169 | 282 | 92 | 56 | — | |
| Trade payables | 1 | 2 | 7 | 5 | — | |
| Non-trade payables | 474,407 | 471,566 | 3 | 3 | — | |
| Accounts payable - related party | 52 | 18 | — | — | — | |
| Accrued expenses | 391,401 | 544,865 | 512,558 | 106,886 | 27,256 | |
| Accrued litigation settlement | 2 | 2 | — | — | — | |
| Accrued interest | 54,849 | 68,465 | — | — | — | |
| Operating lease liabilities, current | 139,918 | 49,529 | 57,663 | 82,669 | — | |
| Operating lease liabilities, current - related party | 1 | 714,942 | — | — | — | |
| Other financing obligations, current | 4 | 6 | — | — | — | |
| Current liabilities - discontinued operations | 0 | 137 | — | — | — | |
| Total current liabilities | 61 | 166 | 18 | 27 | — | |
| Long term debt | 965,286 | 0 | — | — | — | |
| Other financing obligations, net of current portion | 12 | 6 | — | — | — | |
| Operating lease liabilities, non-current | 453,179 | 511,247 | 495,611 | 547,667 | — | |
| Operating lease liabilities, non-current - related party | 922,411 | 1 | — | — | — | |
| Non-current liabilities - discontinued operations | 0 | 188 | — | — | — | |
| Total liabilities | 76 | 363 | 92 | 56 | — | |
| Common stock, $0.0001 par value; 230,000,000 shares authorized, 106,919,830 and 77,996,079 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | 10,692 | 7,802 | 7,627 | 6,680 | — | |
| Additional paid-in capital | 305 | 186 | 179 | 168 | — | |
| Accumulated deficit | −210 | −266 | −179 | −167 | — | |
| Total stockholders' equity (deficit) | 95 | −79 | 223,844 | 284,696 | — | |
| Non-controlling interest | −2 | −2 | — | — | — | |
| Total equity (deficit) | 93 | −81 | −45 | — | — | |
| Total liabilities and stockholders' equity (deficit) | 169 | 282 | 92 | 56 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net income (loss) | 55 | −39 | — | — | — | |
| Net income (loss) from discontinued operations | 73 | −23 | — | — | — | |
| Net loss from continuing operations | −18 | −16 | — | — | — | |
| Stock-based compensation expense | 9 | 4 | — | — | — | |
| 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 | — | — | — | |
| Interest receivable | 0 | −85,991 | — | — | — | |
| Accounts receivable - related party | −2 | 8 | — | — | — | |
| Prepaid expenses and other current assets | −2 | 69,667 | −1 | −161,971 | — | |
| Trade and non-trade payable | −3 | 4 | — | — | — | |
| Accrued expenses | −608,180 | 544,856 | — | — | — | |
| Accrued interest | −13,616 | 44,969 | 406,191 | 363,684 | 281,767 | |
| 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 | — | — | — | |
| 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 short-term investments, net | 0 | 715,036 | — | — | — | |
| Purchases of short-term investments/securities | −34 | 0 | — | — | — | |
| Cash (used in) provided by investing activities | −39 | 945,968 | — | — | — | |
| Proceeds from equity offering, net of issuance costs | 68 | 0 | — | — | — | |
| Proceeds from long-term debt | 965,286 | 0 | — | — | — | |
| Exercise of warrants for common stock | 8 | 0 | — | — | — | |
| Proceeds from the exercise of stock options and warrants | — | 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 | −6 | 407,582 | — | |
| Net cash flow used in discontinued operating activities | −7 | −23 | — | — | — | |
| Net cash flow used in discontinued investing activities | −4 | −126 | — | — | — | |
| Net cash flow used in discontinued financing activities | 13 | 150 | — | — | — | |
| Net change in cash and cash equivalents, discontinued operations | 2 | 449,968 | — | — | — | |
| 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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Frequently asked questions
What is American Resources Corp's CIK number?
American Resources Corp's SEC CIK number is 0001590715 (1590715). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find American Resources Corp's SEC filings?
All of American Resources Corp's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did American Resources Corp last report earnings?
American Resources Corp (AREC) most recently filed an earnings 8-K with the SEC on Nov 14, 2024, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001654954-24-014458). This is American Resources Corp's most recent earnings filing of record — not a forecast of its next earnings date.
What is American Resources Corp's most recent earnings 8-K?
American Resources Corp's latest earnings 8-K (Item 2.02) was filed Nov 14, 2024 under accession 0001654954-24-014458. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View American Resources Corp's latest earnings 8-K →
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