2022 Q3 Form 10-Q Financial Statement

#000147793222006111 Filed on August 15, 2022

View on sec.gov

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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us-gaap Depreciation Depletion And Amortization
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us-gaap Depreciation Depletion And Amortization
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us-gaap Amortization Of Debt Discount Premium
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us-gaap Fair Value Adjustment Of Warrants
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0 usd
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accounts Receivable
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IncreaseDecreaseInInventories
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us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
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us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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IncreaseDecreaseInAccountsPayable
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us-gaap Increase Decrease In Interest Payable Net
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us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
7601 usd
us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
334167 usd
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NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Increase Decrease Of Restricted Investments
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us-gaap Increase Decrease Of Restricted Investments
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arec Cash Invested In Note Receivable
CashInvestedInNoteReceivable
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arec Cash Invested In Note Receivable
CashInvestedInNoteReceivable
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
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us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
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dei Entity Central Index Key
EntityCentralIndexKey
0001590715
dei Amendment Flag
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dei Current Fiscal Year End Date
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dei Document Fiscal Period Focus
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Q2
dei Document Fiscal Year Focus
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2022
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
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us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
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us-gaap Repayments Of Long Term Debt
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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
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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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
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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
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CashAndCashEquivalentsAtCarryingValue
11201203 usd
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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
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250000 usd
CY2022Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
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Cash
3807783 usd
CY2021Q2 us-gaap Cash
Cash
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CY2022Q2 us-gaap Restricted Cash
RestrictedCash
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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
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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

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