AREC on Nasdaq
American Resources Corp
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Last updated Oct 16, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Financial statements
Every line of the income statement in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Metal recovery and sales | $0 | $34.1K |
| Total revenue | $0 | $34.1K |
| Cost of coal sales and processing | $306.6K | $530.9K |
| Depreciation | $122.9K | $123.3K |
| General and administrative | $9.6M | $11.4M |
| Professional fees | $478.4K | $1.7M |
| Litigation expense | $720.3K | $0 |
| Production taxes and royalties | $14.9K | $11.6K |
| Development | $107.5K | $434.8K |
| Total operating expenses | $11.3M | $14.3M |
| Net loss from operations | -$11.3M | -$14.2M |
| Losses from equity method investees | -$84.1K | -$409.3K |
| Loss on debt extinguishment | -$5.2M | $0 |
| Other income and (expense) | -$61.9K | $110.1K |
| Interest income | $577.5K | $78.8K |
| Interest expense | -$1.8M | -$1.5M |
| Total other income (expenses) | -$6.5M | -$1.7M |
| Loss from continuing operations | -$17.8M | -$16.0M |
| Income (loss) from discontinued operations (Note 2 | $73.2M | -$23.2M |
| Net income (loss) | $55.4M | -$39.2M |
| Net loss attributable to non-controlling interest | $26.5K | $87.8K |
| Net income (loss) attributable to ARC shareholders | $55.4M | -$39.1M |
| Loss from continuing operations per share, basic and diluted | -$0 | -$0 |
| Income (loss) from discontinued operations per share, basic and diluted | $1 | -$0 |
| Total income (loss) per share, basic and diluted | $0.63 | -$0.51 |
| Weighted average shares outstanding - basic and diluted | 87.3M shares | 77.2M shares |
Every line of the balance sheet in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $31.7M | $201.5K | |
| Short-term investments | $40.5M | $587.4K | |
| Interest receivables | $86.0K | $86.0K | |
| Prepaid expenses and other current assets | $2.6M | $620.0K | |
| Accounts receivable - related party - net of allowance of $62,030,311 and $0 for the years ended December 31, 2025 and 2024 respectively. | $59.4M | $81.6M | |
| Current assets - discontinued operations | $0 | -$9.8M | |
| Total current assets | $134.3M | $92.9M | |
| Restricted cash | $380.8K | $380.8K | |
| Property and equipment, net | $143.1K | $228.7K | |
| Right-of-use assets, net | $459.1K | $508.6K | |
| Right-of-use assets, net - related party | $1.3M | $1.7M | |
| Investment in other entities - related parties | $32.4M | $1.7M | |
| Notes receivable, net | $0 | $280.0K | |
| Non-current assets - discontinued operations | $0 | $184.0M | |
| Total assets | $168.9M | $281.7M | |
| Trade payables | $1.1M | $2.1M | |
| Non-trade payables | $474.4K | $471.6K | |
| Accounts payable - related party | $51.6M | $17.5M | |
| Accrued expenses | $391.4K | $544.9K | |
| Accrued litigation settlement | $1.8M | $2.3M | |
| Accrued interest | $54.8K | $68.5K | |
| Operating lease liabilities, current | $139.9K | $49.5K | |
| Operating lease liabilities, current - related party | $1.2M | $714.9K | |
| Other financing obligations, current | $4.3M | $6.0M | |
| Current liabilities - discontinued operations | $0 | $136.6M | |
| Total current liabilities | $61.2M | $166.4M | |
| Long term debt | $965.3K | $0 | |
| Other financing obligations, net of current portion | $12.2M | $5.9M | |
| Operating lease liabilities, non-current | $453.2K | $511.2K | |
| Operating lease liabilities, non-current - related party | $922.4K | $1.3M | |
| Non-current liabilities - discontinued operations | $0 | $188.4M | |
| Total liabilities | $75.7M | $362.6M | |
| 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 | $10.7K | $7.8K | |
| Additional paid-in capital | $305.1M | $186.4M | |
| Accumulated deficit | -$210.4M | -$265.8M | |
| Total stockholders' equity (deficit) | $94.8M | -$79.4M | |
| Non-controlling interest | -$1.6M | -$1.6M | |
| Total equity (deficit) | $93.2M | -$80.9M | -$45.0M |
| Total liabilities and stockholders' equity (deficit) | $168.9M | $281.7M | |
| Accounts receivable, allowance | $62.0M | $0 | |
| Common stock, par value | $0.00 | $0.00 | |
| Common stock, shares authorized | 230.0M shares | 230.0M shares | |
| Common stock, shares issued | 106.9M shares | 78.0M shares | |
| Common stock, shares outstanding | 106.9M shares | 78.0M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net income (loss) | $55.4M | -$39.2M |
| Net income (loss) from discontinued operations | $73.2M | -$23.2M |
| Net loss from continuing operations | -$17.8M | -$16.0M |
| Stock-based compensation expense | $9.2M | $3.7M |
| Depreciation expense | $122.9K | $123.3K |
| Loss on settlement/conversion of debt to equity | $5.2M | $0 |
| Interest and dividend income | -$559.5K | $0 |
| Investment in other entities - Related Parties, net | $84.1K | $409.3K |
| Issuance of common shares for consulting services | $84.0K | $143.6K |
| Allowance for losses on note receivable | $280.0K | $0 |
| Unrealized gain on short-term investments | $45.5K | |
| Interest receivable | $0 | -$86.0K |
| Accounts receivable - related party | -$2.0M | $8.5M |
| Prepaid expenses and other current assets | -$2.0M | $69.7K |
| Trade and non-trade payable | -$3.0M | $4.1M |
| Accrued expenses | -$608.2K | $544.9K |
| Accrued interest | -$13.6K | $45.0K |
| Operating lease assets and liabilities, net | $81.9K | $846 |
| Operating lease assets and liabilities, net - related party | $497.3K | $373.4K |
| Cash (used in) provided by operating activities | -$10.4M | $2.0M |
| Purchase of property and equipment, net of capitalized interest income and (expense) | -$37.3K | $230.9K |
| Purchase of certificate of deposit | -$5.0M | $0 |
| Proceeds from short-term investments, net | $0 | $715.0K |
| Purchases of short-term investments/securities | -$34.3M | $0 |
| Cash (used in) provided by investing activities | -$39.4M | $946.0K |
| Proceeds from equity offering, net of issuance costs | $68.1M | $0 |
| Proceeds from long-term debt | $965.3K | $0 |
| Exercise of warrants for common stock | $7.5M | $0 |
| Proceeds from the exercise of stock options and warrants | $189.2K | |
| Proceeds received from other financing obligation | $8.1M | $2.5M |
| Repayments of other financing obligation | -$3.4M | -$7.0M |
| Cash provided by (used in) financing activities | $81.3M | -$4.4M |
| Net change in cash, cash equivalents and restricted cash from continuing operations | $31.5M | -$1.4M |
| Net cash flow used in discontinued operating activities | -$7.4M | -$23.2M |
| Net cash flow used in discontinued investing activities | -$3.8M | -$126.3M |
| Net cash flow used in discontinued financing activities | $13.5M | $150.0M |
| Net change in cash and cash equivalents, discontinued operations | $2.3M | $450.0K |
| Exercise of cashless common stock options and warrants | $59 | $87 |
| Dividend-in-kind of Novustera, Inc. common stock to shareholders | $0 | $1.4M |
| Acquisition of assets through operating leases - related party | $0 | $1.9M |
| Common stock issued to settle accounts payable and accrued expenses | $6.3M | $1.1M |
| Common stock issued to settle debt | $6.4M | $0 |
Former names
Recent filings
- Oct 7, 20268-K
- Oct 5, 20268-K
- Aug 26, 20268-K
- Aug 20, 20264 PRIMARY DOCUMENT
- Jul 29, 20268-K/A
- Jul 27, 2026SCHEDULE 13G
- Jul 24, 20268-K
- Jul 24, 20268-K
- Jul 21, 20268-K
- Jun 4, 20268-K
- May 20, 202610-K
- May 15, 2026NT 10-Q
- Apr 30, 20268-K
- Apr 17, 20268-K
- Apr 16, 20268-K
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
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