2022 Q3 Form 10-Q Financial Statement
#000147793222006111 Filed on August 15, 2022
Income Statement
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
Revenue | $9.510M | $16.20M | $9.081M |
YoY Change | 237.95% | 4019.73% | 85196.09% |
Cost Of Revenue | $8.141M | $3.292K | $2.891M |
YoY Change | 165.29% | -88.19% | 111.01% |
Gross Profit | $1.368M | $16.20M | $6.190M |
YoY Change | -636.78% | 4333.17% | -555.13% |
Gross Profit Margin | 14.39% | 99.98% | 68.16% |
Selling, General & Admin | $1.037M | $1.139M | $1.372M |
YoY Change | -6.88% | -55.85% | -23.37% |
% of Gross Profit | 75.8% | 7.03% | 22.16% |
Research & Development | $3.693M | $11.53M | $6.784M |
YoY Change | -28.19% | 136.92% | 274.82% |
% of Gross Profit | 269.87% | 71.21% | 109.6% |
Depreciation & Amortization | $602.5K | $630.3K | $393.5K |
YoY Change | 21.55% | 32.7% | 0.0% |
% of Gross Profit | 44.03% | 3.89% | 6.36% |
Operating Expenses | $14.14M | -$20.33M | -$13.06M |
YoY Change | 32.7% | 240.04% | 118.34% |
Operating Profit | -$4.632M | -$4.133M | -$3.984M |
YoY Change | -40.94% | -26.02% | -33.3% |
Interest Expense | -$311.5K | $274.6K | $383.7K |
YoY Change | -128.45% | -59.3% | -21.87% |
% of Operating Profit | |||
Other Income/Expense, Net | -$637.6K | $1.689M | $82.16K |
YoY Change | -40.44% | -258.72% | 132.76% |
Pretax Income | -$5.270M | -$2.444M | -$2.753M |
YoY Change | -40.88% | -81.26% | -56.92% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$5.227M | -$2.444M | -$2.753M |
YoY Change | -41.36% | -63.25% | -56.92% |
Net Earnings / Revenue | -54.96% | -15.09% | -30.32% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$78.74K | -$36.63K | -$42.07K |
COMMON SHARES | |||
Basic Shares Outstanding | 66.52M shares | 66.20M shares | |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $3.769M | $3.808M | $5.217M |
YoY Change | -80.29% | -86.45% | -26.52% |
Cash & Equivalents | $4.856M | $4.895M | $6.304M |
Short-Term Investments | |||
Other Short-Term Assets | $1.054M | $816.1K | $1.576M |
YoY Change | 285.74% | 204.12% | 556.68% |
Inventory | $730.0K | $1.236M | |
Prepaid Expenses | $1.054M | $816.1K | $1.576M |
Receivables | $5.671M | $5.355M | $2.856M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $11.22M | $9.979M | $10.89M |
YoY Change | -47.8% | -66.05% | 40.82% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $15.06M | $20.88M | $22.70M |
YoY Change | -34.56% | -3.69% | 1.51% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $3.740M | $3.242M | $2.500M |
YoY Change | 66.24% | 44.11% | 9.65% |
Other Assets | $1.087M | $1.087M | $1.087M |
YoY Change | -96.42% | 6.68% | -11.66% |
Total Long-Term Assets | $26.09M | $27.70M | $27.67M |
YoY Change | -14.18% | -4.72% | -7.69% |
TOTAL ASSETS | |||
Total Short-Term Assets | $11.22M | $9.979M | $10.89M |
Total Long-Term Assets | $26.09M | $27.70M | $27.67M |
Total Assets | $37.31M | $37.68M | $38.56M |
YoY Change | -28.11% | -35.55% | 2.26% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $3.321M | $6.923M | $6.255M |
YoY Change | -34.46% | 93.9% | 66.36% |
Accrued Expenses | $42.01K | $38.19K | $1.001M |
YoY Change | -90.18% | -88.51% | 300.58% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $11.29M | $752.2K | $3.737M |
YoY Change | 112.46% | -95.73% | -77.64% |
Total Short-Term Liabilities | $20.69M | $9.852M | $21.84M |
YoY Change | -25.95% | -63.85% | -17.88% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $5.188M | $12.35M | $534.5K |
YoY Change | 9.31% | 114.22% | -92.99% |
Other Long-Term Liabilities | $20.51M | $20.17M | $19.83M |
YoY Change | -3.23% | 25.0% | 25.29% |
Total Long-Term Liabilities | $25.69M | $32.52M | $20.37M |
YoY Change | 21.25% | 48.48% | -13.18% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $20.69M | $9.852M | $21.84M |
Total Long-Term Liabilities | $25.69M | $32.52M | $20.37M |
Total Liabilities | $46.39M | $42.37M | $42.21M |
YoY Change | -5.59% | -13.79% | -15.68% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$176.2M | -$171.0M | -$168.5M |
YoY Change | 13.41% | ||
Common Stock | $6.685K | $6.661K | $6.616K |
YoY Change | 9.9% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$9.009M | -$4.697M | -$3.652M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $37.31M | $37.68M | $38.56M |
YoY Change | -28.11% | -35.55% | 2.26% |
Cashflow Statement
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$5.227M | -$2.444M | -$2.753M |
YoY Change | -41.36% | -63.25% | -56.92% |
Depreciation, Depletion And Amortization | $602.5K | $630.3K | $393.5K |
YoY Change | 21.55% | 32.7% | 0.0% |
Cash From Operating Activities | -$3.931M | -$2.217M | -$5.734M |
YoY Change | -43.81% | -40.01% | -15.01% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$724.9K | ||
YoY Change | 27.18% | ||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $4.407M | -$862.4K | -$67.13K |
YoY Change | -2974.8% | -97.06% | |
Cash From Investing Activities | $4.407M | -$137.5K | -$792.0K |
YoY Change | -305.06% | 58.82% | -72.11% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $0.00 | ||
YoY Change | -100.0% | ||
Debt Paid & Issued, Net | $39.56K | ||
YoY Change | -36.5% | ||
Cash From Financing Activities | -514.7K | 945.8K | $241.3K |
YoY Change | -451.47% | -96.15% | -96.41% |
NET CHANGE | |||
Cash From Operating Activities | -3.931M | -2.217M | -$5.734M |
Cash From Investing Activities | 4.407M | -137.5K | -$792.0K |
Cash From Financing Activities | -514.7K | 945.8K | $241.3K |
Net Change In Cash | -38.34K | -1.409M | -$6.284M |
YoY Change | -99.57% | -106.78% | 118.96% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$3.931M | -$2.217M | -$5.734M |
Capital Expenditures | -$724.9K | ||
Free Cash Flow | -$5.009M | ||
YoY Change | -18.9% |
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Interest Income Operating
InterestIncomeOperating
|
60220 | usd |
us-gaap |
Interest Income Operating
InterestIncomeOperating
|
13327 | usd | |
us-gaap |
Interest Income Operating
InterestIncomeOperating
|
101392 | usd | |
CY2022Q2 | us-gaap |
Interest Expense
InterestExpense
|
274640 | usd |
CY2021Q2 | us-gaap |
Interest Expense
InterestExpense
|
674829 | usd |
us-gaap |
Interest Expense
InterestExpense
|
658336 | usd | |
us-gaap |
Interest Expense
InterestExpense
|
1165942 | usd | |
CY2022Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
1688888 | usd |
CY2021Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-1064072 | usd |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
2918697 | usd | |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-1481596 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-5196736 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-13040032 | usd | |
CY2022Q2 | us-gaap |
Noncontrolling Interest Decrease From Deconsolidation
NoncontrollingInterestDecreaseFromDeconsolidation
|
12666 | usd |
CY2021Q2 | us-gaap |
Noncontrolling Interest Decrease From Deconsolidation
NoncontrollingInterestDecreaseFromDeconsolidation
|
0 | usd |
us-gaap |
Noncontrolling Interest Decrease From Deconsolidation
NoncontrollingInterestDecreaseFromDeconsolidation
|
20550 | usd | |
us-gaap |
Noncontrolling Interest Decrease From Deconsolidation
NoncontrollingInterestDecreaseFromDeconsolidation
|
0 | usd | |
us-gaap |
Income Loss Attributable To Parent
IncomeLossAttributableToParent
|
-5176186 | usd | |
us-gaap |
Income Loss Attributable To Parent
IncomeLossAttributableToParent
|
0 | usd | |
arec |
Net Loss Per Common Share Basic And Diluted
NetLossPerCommonShareBasicAndDiluted
|
-0.08 | ||
arec |
Net Loss Per Common Share Basic And Diluted
NetLossPerCommonShareBasicAndDiluted
|
-0.26 | ||
arec |
Weighted Average Common Shares Outstanding Basics And Diluted
WeightedAverageCommonSharesOutstandingBasicsAndDiluted
|
65846220 | shares | |
arec |
Weighted Average Common Shares Outstanding Basics And Diluted
WeightedAverageCommonSharesOutstandingBasicsAndDiluted
|
49539996 | shares | |
CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-20005543 | usd |
CY2021Q1 | us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
8 | usd |
CY2021Q1 | arec |
Adjusted Opening Balance Amount
AdjustedOpeningBalanceAmount
|
-20005535 | usd |
CY2021Q1 | arec |
Shares Issued In Conjunction With Warrant And Option Conversions Amount
SharesIssuedInConjunctionWithWarrantAndOptionConversionsAmount
|
2257712 | usd |
CY2021Q1 | arec |
Shares Issued In Connection With Debt And Payable Conversions Amount
SharesIssuedInConnectionWithDebtAndPayableConversionsAmount
|
10131984 | usd |
CY2021Q1 | arec |
Shares Issued Pursuant To Restricted Stock Offering Amount
SharesIssuedPursuantToRestrictedStockOfferingAmount
|
1275000 | usd |
CY2021Q1 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
10000 | usd |
CY2021Q1 | arec |
Amortization Of Warrant And Stock Option Expense
AmortizationOfWarrantAndStockOptionExpense
|
115025 | usd |
CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-6389857 | usd |
CY2021Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-12605671 | usd |
CY2021Q2 | arec |
Shares Issued In Connection With Warrant And Option Conversions Amount
SharesIssuedInConnectionWithWarrantAndOptionConversionsAmount
|
11703 | usd |
CY2021Q2 | arec |
Shares Issued In Connection With Debt And Payable Conversions Amount
SharesIssuedInConnectionWithDebtAndPayableConversionsAmount
|
625276 | usd |
CY2021Q2 | arec |
Shares Issued In Connection With Registered Offering Amount
SharesIssuedInConnectionWithRegisteredOfferingAmount
|
27943000 | usd |
CY2021Q2 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
-128568 | usd |
CY2022Q1 | arec |
Issuance Of Common Shares For Warrant Conversion Amount
IssuanceOfCommonSharesForWarrantConversionAmount
|
665391 | usd |
CY2021Q2 | us-gaap |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
115025 | usd |
CY2021Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-6650174 | usd |
CY2021Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
9310590 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-2345408 | usd |
CY2022Q1 | arec |
Issuance Of Common Shares For Conversion Of Debt And Interest Amount
IssuanceOfCommonSharesForConversionOfDebtAndInterestAmount
|
622210 | usd |
CY2022Q1 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
-40655 | usd |
CY2022Q1 | us-gaap |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
199843 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2752902 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-3651521 | usd |
CY2022Q2 | arec |
Issuance Of Common Shares For Conversion Of Debt And Interest Amount
IssuanceOfCommonSharesForConversionOfDebtAndInterestAmount
|
1200000 | usd |
CY2022Q2 | arec |
Issuance Of Common Shares For Warrant Conversion Amount
IssuanceOfCommonSharesForWarrantConversionAmount
|
8064 | usd |
CY2022Q2 | us-gaap |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
190024 | usd |
CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2443834 | usd |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-4697267 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-5196736 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-13040032 | usd | |
us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
-3413152 | usd | |
us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
0 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
1256383 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
868544 | usd | |
arec |
Amortization Of Intangible Asset
AmortizationOfIntangibleAsset
|
615079 | usd | |
arec |
Amortization Of Intangible Asset
AmortizationOfIntangibleAsset
|
623370 | usd | |
us-gaap |
Accretion Expense
AccretionExpense
|
631442 | usd | |
us-gaap |
Accretion Expense
AccretionExpense
|
611273 | usd | |
us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
15021 | usd | |
us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
0 | usd | |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
0 | usd | |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
3560019 | usd | |
us-gaap |
Stock Option Plan Expense
StockOptionPlanExpense
|
389867 | usd | |
us-gaap |
Stock Option Plan Expense
StockOptionPlanExpense
|
230050 | usd | |
us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
673455 | usd | |
us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
0 | usd | |
arec |
Issuance Of Common Shares For Services
IssuanceOfCommonSharesForServices
|
0 | usd | |
arec |
Issuance Of Common Shares For Services
IssuanceOfCommonSharesForServices
|
10000 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-2179134 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-103673 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
0 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-488376 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-191448 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-93333 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-229526 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-2246713 | usd | |
us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
-299700 | usd | |
us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
-711104 | usd | |
us-gaap |
Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
|
7601 | usd | |
us-gaap |
Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
|
334167 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-7950890 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-10445808 | usd | |
us-gaap |
Increase Decrease Of Restricted Investments
IncreaseDecreaseOfRestrictedInvestments
|
-742398 | usd | |
us-gaap |
Increase Decrease Of Restricted Investments
IncreaseDecreaseOfRestrictedInvestments
|
-2250000 | usd | |
arec |
Cash Invested In Note Receivable
CashInvestedInNoteReceivable
|
-335000 | usd | |
arec |
Cash Invested In Note Receivable
CashInvestedInNoteReceivable
|
0 | usd | |
arec |
Cash Received Paid For Ppe Net
CashReceivedPaidForPpeNet
|
147824 | usd | |
arec |
Cash Received Paid For Ppe Net
CashReceivedPaidForPpeNet
|
-676601 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-929574 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-2926601 | usd | |
us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
99204 | usd | |
us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
0 | usd | |
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001590715 | ||
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q2 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2022 | ||
CY2021Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
1276691 | usd | |
us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
787849 | usd | |
us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
0 | usd | |
us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
600000 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
0 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
29218000 | usd | |
us-gaap |
Proceeds From Bank Debt
ProceedsFromBankDebt
|
2563000 | usd | |
us-gaap |
Proceeds From Bank Debt
ProceedsFromBankDebt
|
0 | usd | |
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
0 | usd | |
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
2269428 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
1187105 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
31299579 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-7693359 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
17927170 | usd | |
CY2021Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
12588113 | usd |
CY2020Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
11201203 | usd |
CY2022Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
4894754 | usd |
CY2021Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
29128373 | usd |
us-gaap |
Interest Paid Net
InterestPaidNet
|
64094 | usd | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
42426 | usd | |
us-gaap |
Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
|
1822210 | shares | |
us-gaap |
Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
|
10757260 | shares | |
arec |
Acquisition Of Right Of Use Assets For Lease Obligations
AcquisitionOfRightOfUseAssetsForLeaseObligations
|
1117219 | usd | |
arec |
Acquisition Of Right Of Use Assets For Lease Obligations
AcquisitionOfRightOfUseAssetsForLeaseObligations
|
0 | usd | |
arec |
Interim Financial Informationpolicytextblock
InterimFinancialInformationpolicytextblock
|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been omitted. In the opinion of management, these interim unaudited Consolidated Financial Statements reflect all normal and recurring adjustments necessary for a fair presentation of the results for the periods presented. Results of operations for the three and six months ended June 30, 2022 are not necessarily indicative of the results to be expected for the year ending December 31, 2022 or any other period. These financial statements should be read in conjunction with the Company’s 2021 audited financial statements and notes thereto which were filed on Form 10-K on March 30, 2022. </p> | ||
us-gaap |
Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
|
0 | usd | |
CY2022Q2 | us-gaap |
Asset Retirement Obligation
AssetRetirementObligation
|
19583029 | usd |
us-gaap |
Property Management Fee Revenue
PropertyManagementFeeRevenue
|
116115 | usd | |
CY2022Q2 | arec |
Restricted Cash Balance
RestrictedCashBalance
|
0 | usd |
CY2021Q4 | arec |
Restricted Cash Balance
RestrictedCashBalance
|
47987 | usd |
CY2022Q2 | arec |
Total Restricted Cash
TotalRestrictedCash
|
250000 | usd |
CY2021Q4 | arec |
Total Restricted Cash
TotalRestrictedCash
|
250000 | usd |
CY2022Q2 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
105770 | usd |
CY2021Q4 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
105770 | usd |
CY2022Q2 | us-gaap |
Cash
Cash
|
3807783 | usd |
CY2021Q2 | us-gaap |
Cash
Cash
|
28109470 | usd |
CY2022Q2 | us-gaap |
Restricted Cash
RestrictedCash
|
1086971 | usd |
CY2021Q2 | us-gaap |
Restricted Cash
RestrictedCash
|
1018903 | usd |
CY2022Q2 | arec |
Total Cash And Restricted Cash Presented In The Consolidated Statement Of Cash Flows
TotalCashAndRestrictedCashPresentedInTheConsolidatedStatementOfCashFlows
|
4894754 | usd |
CY2021Q2 | arec |
Total Cash And Restricted Cash Presented In The Consolidated Statement Of Cash Flows
TotalCashAndRestrictedCashPresentedInTheConsolidatedStatementOfCashFlows
|
29128373 | usd |
arec |
Discount Rate
DiscountRate
|
0.10 | pure | |
arec |
Loss On Settlement During Year
LossOnSettlementDuringYear
|
0 | usd | |
arec |
Loss On Settlement During Year
LossOnSettlementDuringYear
|
0 | usd | |
CY2021Q4 | us-gaap |
Asset Retirement Obligation
AssetRetirementObligation
|
18951587 | usd |
us-gaap |
Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
|
631442 | usd | |
arec |
Asset Retirement Obligation Reclamation Work
AssetRetirementObligationReclamationWork
|
0 | usd | |
CY2020Q4 | us-gaap |
Asset Retirement Obligation
AssetRetirementObligation
|
17855304 | usd |
us-gaap |
Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
|
611273 | usd | |
us-gaap |
Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
|
0 | usd | |
arec |
Asset Retirement Obligation Reclamation Work
AssetRetirementObligationReclamationWork
|
0 | usd | |
CY2021Q2 | us-gaap |
Asset Retirement Obligation
AssetRetirementObligation
|
18466577 | usd |
CY2022Q2 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
0 | usd |
CY2022Q2 | us-gaap |
Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
|
0 | usd |
CY2021Q4 | us-gaap |
Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
|
0 | usd |
arec |
Prepaid Fees And Advance Royaltiespolicytextblock
PrepaidFeesAndAdvanceRoyaltiespolicytextblock
|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Coal leases that require minimum annual or advance payments and are recoverable from future production are generally deferred and charged to expense as the coal is subsequently produced.</p> | ||
us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Reclassifications of prior periods have been made to conform with current year presentation.</p> | ||
CY2022Q2 | arec |
Less Accumulated Depreciation
LessAccumulatedDepreciation
|
-17750061 | usd |
CY2021Q4 | arec |
Less Accumulated Depreciation
LessAccumulatedDepreciation
|
-15953575 | usd |
CY2022Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
20883868 | usd |
CY2021Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
22903154 | usd |
CY2022Q2 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
630341 | usd |
CY2021Q2 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
475014 | usd |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
1256383 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
868544 | usd | |
CY2022Q2 | arec |
Principal Reductions On Long Term Debt
PrincipalReductionsOnLongTermDebt
|
3389301 | usd |
CY2022Q2 | arec |
Long Term Debt Increased
LongTermDebtIncreased
|
2843635 | usd |
CY2022Q2 | us-gaap |
Debt Instrument Periodic Payment Principal
DebtInstrumentPeriodicPaymentPrincipal
|
722676 | usd |
CY2021Q2 | arec |
Long Term Debt Increased
LongTermDebtIncreased
|
400441 | usd |
CY2022Q2 | us-gaap |
Long Term Debt Description
LongTermDebtDescription
|
The notes carry a 24-month term, 12.5% interest 10% warrant coverage and a conversion price of $1.05 | |
CY2022Q2 | arec |
Warrant Exercise Price
WarrantExercisePrice
|
1.50 | |
CY2022Q2 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.1082 | pure |
us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
5726 | usd | |
arec |
Rental Lease Expiration Date
RentalLeaseExpirationDate
|
December 2026 | ||
arec |
Amended Lease
AmendedLease
|
The amended lease has a ten-year term and $5,869 per month rate | ||
CY2021Q3 | arec |
Commercial Land Lease Sublease Area
CommercialLandLeaseSubleaseArea
|
7 | acre |
CY2021Q3 | arec |
Sublease Term
SubleaseTerm
|
5 years | |
CY2021Q3 | us-gaap |
Sublease Income
SubleaseIncome
|
3500 | usd |
CY2021Q4 | us-gaap |
Area Of Land
AreaOfLand
|
6700 | sqft |
CY2021Q4 | arec |
Commercial Land Lease Term
CommercialLandLeaseTerm
|
2 years | |
CY2021Q4 | arec |
Commercial Land Lease Rent
CommercialLandLeaseRent
|
474500 | usd |
CY2021Q4 | us-gaap |
Payments To Acquire Equipment On Lease
PaymentsToAcquireEquipmentOnLease
|
17660 | usd |
CY2021Q4 | arec |
Financial Lease Equipment Purchase Option
FinancialLeaseEquipmentPurchaseOption
|
1 | usd |
CY2022Q2 | us-gaap |
Payments To Acquire Equipment On Lease
PaymentsToAcquireEquipmentOnLease
|
31800 | usd |
CY2022Q2 | arec |
Financial Lease Equipment Purchase Option
FinancialLeaseEquipmentPurchaseOption
|
1 | usd |
CY2022Q2 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
1799769 | usd |
CY2021Q2 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
0 | usd |
CY2022Q2 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
85218 | usd |
CY2021Q2 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
0 | usd |
CY2022Q2 | us-gaap |
Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
|
341771 | usd |
CY2021Q2 | us-gaap |
Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
|
0 | usd |
CY2022Q2 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
591127 | usd |
CY2021Q2 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
0 | usd |
CY2022Q2 | us-gaap |
Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
|
655468 | usd |
CY2021Q2 | us-gaap |
Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
|
0 | usd |
CY2021Q3 | arec |
Sublease Term Period
SubleaseTermPeriod
|
5 years | |
CY2021Q3 | us-gaap |
Sublease Income
SubleaseIncome
|
3500 | usd |
CY2021Q4 | us-gaap |
Area Of Land
AreaOfLand
|
6700 | sqft |
arec |
Sublease Term Period
SubleaseTermPeriod
|
2 years | ||
CY2022Q2 | arec |
Employee Share Based Compensation
EmployeeShareBasedCompensation
|
190024 | usd |
CY2021Q2 | arec |
Employee Share Based Compensation
EmployeeShareBasedCompensation
|
262025 | usd |
arec |
Employee Share Based Compensation
EmployeeShareBasedCompensation
|
389868 | usd | |
arec |
Employee Share Based Compensation
EmployeeShareBasedCompensation
|
377050 | usd | |
CY2022Q2 | us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
1200000 | usd |
CY2021Q2 | us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
624537 | usd |
us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
1822210 | usd | |
us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
10253912 | usd | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.8797 | pure | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.00870 | pure | |
arec |
Working Capital Deficits
WorkingCapitalDeficits
|
800000 | usd | |
arec |
Total Notes Repaid
TotalNotesRepaid
|
485900 | usd | |
us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
5726 | usd | |
arec |
Rental Lease Expired Date
RentalLeaseExpiredDate
|
December 2026 | ||
arec |
Amended Leases
AmendedLeases
|
The amended lease has a ten year term and $5,869 per month rate | ||
CY2021Q3 | arec |
Commercial Land Lease Sublease Area
CommercialLandLeaseSubleaseArea
|
7 | acre |
CY2021Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
230000000 | shares |
CY2021Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
65084992 | shares |
CY2022Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
66613085 | shares |
CY2021Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
0 | usd |
CY2021Q4 | arec |
Commercial Land Lease Term
CommercialLandLeaseTerm
|
3 years | |
CY2022Q2 | arec |
Financial Equipment Lease Term
FinancialEquipmentLeaseTerm
|
three years | |
dei |
Document Type
DocumentType
|
10-Q | ||
dei |
Document Quarterly Report
DocumentQuarterlyReport
|
true | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2022-06-30 | ||
dei |
Document Transition Report
DocumentTransitionReport
|
false | ||
dei |
Entity File Number
EntityFileNumber
|
000-55456 | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
American Resources Corporation | ||
dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
FL | ||
dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
46-3914127 | ||
dei |
Entity Address Address Line1
EntityAddressAddressLine1
|
12115 Visionary Way | ||
dei |
Entity Address City Or Town
EntityAddressCityOrTown
|
Fishers | ||
dei |
Entity Address State Or Province
EntityAddressStateOrProvince
|
IN | ||
dei |
Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
46038 | ||
dei |
City Area Code
CityAreaCode
|
317 | ||
dei |
Local Phone Number
LocalPhoneNumber
|
855-9926 | ||
dei |
Security12b Title
Security12bTitle
|
Class A Common, $0.0001 Par Value | ||
dei |
Trading Symbol
TradingSymbol
|
AREC | ||
dei |
Security Exchange Name
SecurityExchangeName
|
NASDAQ | ||
dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | ||
dei |
Entity Interactive Data Current
EntityInteractiveDataCurrent
|
Yes | ||
dei |
Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | ||
dei |
Entity Small Business
EntitySmallBusiness
|
true | ||
dei |
Entity Emerging Growth Company
EntityEmergingGrowthCompany
|
false | ||
dei |
Entity Shell Company
EntityShellCompany
|
false | ||
CY2022Q3 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
66519279 | shares |