$AREC
American Resources Corp Stock $arec

$arec Overview Financials Valuation SEC Filings Company Website

2024 Q4 Form 10-Q Financial Statement

#000147793224007457 Filed on November 19, 2024

Income Statement

Concept	2024 Q4	2024 Q3
Revenue		$235.4K
YoY Change		-95.96%
Cost Of Revenue		$2.661M
YoY Change		126.02%
Gross Profit		-$2.426M
YoY Change		-152.16%
Gross Profit Margin		-1030.37%
Selling, General & Admin		$4.367M
YoY Change		163.25%
% of Gross Profit
Research & Development		$78.81K
YoY Change		-94.08%
% of Gross Profit
Depreciation & Amortization		$584.1K
YoY Change		6236.33%
% of Gross Profit
Operating Expenses		$8.494M
YoY Change		79.32%
Operating Profit		-$8.258M
YoY Change		-856.26%
Interest Expense		$774.5K
YoY Change		158.36%
% of Operating Profit
Other Income/Expense, Net		-$963.9K
YoY Change		-140.3%
Pretax Income		-$9.222M
YoY Change		-364.73%
Income Tax
% Of Pretax Income
Net Earnings		-$9.222M
YoY Change		-364.73%
Net Earnings / Revenue		-3916.97%
Basic Earnings Per Share
Diluted Earnings Per Share		-$0.12
COMMON SHARES
Basic Shares Outstanding	77.42M shares	77.42M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2024 Q4	2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments		$991.7K
YoY Change		-68.19%
Cash & Equivalents		$840.3K
Short-Term Investments		$151.3K
Other Short-Term Assets		$1.866M
YoY Change		-2.69%
Inventory		$2.030M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets		$5.715M
YoY Change		-53.74%
LONG-TERM ASSETS
Property, Plant & Equipment		$17.49M
YoY Change		49.64%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments		$6.219M
YoY Change		-68.08%
Other Assets		$160.8M
YoY Change		76.08%
Total Long-Term Assets		$205.9M
YoY Change		127.33%
TOTAL ASSETS
Total Short-Term Assets		$5.715M
Total Long-Term Assets		$205.9M
Total Assets		$211.6M
YoY Change		105.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable		$10.75M
YoY Change		148.19%
Accrued Expenses		$514.8K
YoY Change		260.33%
Deferred Revenue
YoY Change
Short-Term Debt		$0.00
YoY Change
Long-Term Debt Due		$804.7K
YoY Change		0.0%
Total Short-Term Liabilities		$24.61M
YoY Change		51.83%
LONG-TERM LIABILITIES
Long-Term Debt		$212.8M
YoY Change		392.47%
Other Long-Term Liabilities		$28.62M
YoY Change		-0.68%
Total Long-Term Liabilities		$241.4M
YoY Change		235.17%
TOTAL LIABILITIES
Total Short-Term Liabilities		$24.61M
Total Long-Term Liabilities		$241.4M
Total Liabilities		$266.0M
YoY Change		201.49%
SHAREHOLDERS EQUITY
Retained Earnings		-$234.6M
YoY Change		43.18%
Common Stock		$7.742K
YoY Change		1.51%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity		-$51.83M
YoY Change
Total Liabilities & Shareholders Equity		$212.6M
YoY Change		106.57%

Cashflow Statement

Concept	2024 Q4	2024 Q3
OPERATING ACTIVITIES
Net Income		-$9.222M
YoY Change		-364.73%
Depreciation, Depletion And Amortization		$584.1K
YoY Change		6236.33%
Cash From Operating Activities		-$3.099M
YoY Change		-0.92%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities		$1.358M
YoY Change		-416.71%
Cash From Investing Activities		$2.007M
YoY Change		-158.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities		-1.003M
YoY Change		250.66%
NET CHANGE
Cash From Operating Activities		-3.099M
Cash From Investing Activities		2.007M
Cash From Financing Activities		-1.003M
Net Change In Cash		-2.096M
YoY Change		-69.26%
FREE CASH FLOW
Cash From Operating Activities		-$3.099M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2024Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	840330	usd
CY2023Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	2666638	usd
CY2024Q3	arec	Short Term Investments Held In Trust Account Restricted ShortTermInvestmentsHeldInTrustAccountRestricted	0	usd
CY2023Q4	arec	Short Term Investments Held In Trust Account Restricted ShortTermInvestmentsHeldInTrustAccountRestricted	30297204	usd
CY2024Q3	us-gaap	Inventory Net InventoryNet	2029812	usd
CY2023Q4	us-gaap	Inventory Net InventoryNet	54000	usd
CY2024Q3	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	1866001	usd
CY2023Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	1867651	usd
CY2024Q3	us-gaap	Assets Current AssetsCurrent	5714703	usd
CY2023Q4	us-gaap	Assets Current AssetsCurrent	34885493	usd
CY2024Q3	us-gaap	Restricted Cash And Cash Equivalents Noncurrent RestrictedCashAndCashEquivalentsNoncurrent	160811402	usd
CY2023Q4	us-gaap	Restricted Cash And Cash Equivalents Noncurrent RestrictedCashAndCashEquivalentsNoncurrent	6798029	usd
CY2024Q3	arec	Related Party Transaction Amounts Of Investment In Other Entities RelatedPartyTransactionAmountsOfInvestmentInOtherEntities	1719308	usd
CY2024Q3	us-gaap	Notes Receivable Net NotesReceivableNet	280000	usd
CY2023Q4	us-gaap	Notes Receivable Net NotesReceivableNet	99022	usd
CY2023Q4	us-gaap	Assets Assets	94176461	usd
CY2024Q3	arec	Trade Payables Current TradePayablesCurrent	5039002	usd
CY2023Q4	arec	Trade Payables Current TradePayablesCurrent	6709224	usd
CY2024Q3	arec	Non Trade Payables Current NonTradePayablesCurrent	2653638	usd
CY2023Q4	arec	Non Trade Payables Current NonTradePayablesCurrent	2607942	usd
CY2024Q3	arec	Accounts Payable Related Party Current AccountsPayableRelatedPartyCurrent	5711005	usd
CY2023Q4	arec	Accounts Payable Related Party Current AccountsPayableRelatedPartyCurrent	2371697	usd
CY2024Q3	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	514844	usd
CY2023Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	512558	usd
CY2024Q3	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	147055	usd
CY2023Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	200000	usd
CY2024Q3	us-gaap	Long Term Debt Current LongTermDebtCurrent	804656	usd
CY2023Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	804656	usd
CY2024Q3	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	87898	usd
CY2023Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	57663	usd
CY2024Q3	arec	Financing Obligations Current FinancingObligationsCurrent	7620971	usd
CY2023Q4	arec	Financing Obligations Current FinancingObligationsCurrent	4806822	usd
CY2024Q3	us-gaap	Liabilities Current LiabilitiesCurrent	24607101	usd
CY2023Q4	us-gaap	Liabilities Current LiabilitiesCurrent	18070562	usd
CY2024Q3	arec	Remediation Liability Non Current RemediationLiabilityNonCurrent	22033677	usd
CY2023Q4	arec	Remediation Liability Non Current RemediationLiabilityNonCurrent	21288799	usd
CY2024Q3	arec	Bond Payable Noncurrent BondPayableNoncurrent	193337587	usd
CY2023Q4	arec	Bond Payable Noncurrent BondPayableNoncurrent	44152500	usd
CY2024Q3	arec	Financing Obligations Non Current FinancingObligationsNonCurrent	4405239	usd
CY2023Q4	arec	Financing Obligations Non Current FinancingObligationsNonCurrent	7514848	usd
CY2024Q3	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	703899	usd
CY2023Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	495611	usd
CY2024Q3	us-gaap	Liabilities Liabilities	265985869	usd
CY2023Q4	us-gaap	Liabilities Liabilities	91522320	usd
CY2024Q3	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2024Q3	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	230000000	shares
CY2024Q3	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	77400289	shares
CY2024Q3	us-gaap	Common Stock Value CommonStockValue	7742	usd
CY2023Q4	us-gaap	Common Stock Value CommonStockValue	7627	usd
CY2024Q3	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	182761566	usd
CY2023Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	178910546	usd
CY2023Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-178694329	usd
CY2024Q3	us-gaap	Stockholders Equity StockholdersEquity	-51830276	usd
CY2023Q4	us-gaap	Stockholders Equity StockholdersEquity	223844	usd
CY2024Q3	us-gaap	Minority Interest MinorityInterest	-1554740	usd
CY2023Q4	us-gaap	Minority Interest MinorityInterest	0	usd
CY2024Q3	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	212600853	usd
CY2023Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	91746164	usd
CY2024Q3	arec	Revenue From Coal Sales RevenueFromCoalSales	0	usd
CY2023Q3	arec	Revenue From Coal Sales RevenueFromCoalSales	5721840	usd
	arec	Revenue From Coal Sales RevenueFromCoalSales	0	usd
CY2024Q3	arec	Revenue From Metal Recovery And Sales RevenueFromMetalRecoveryAndSales	154055	usd
CY2023Q3	arec	Revenue From Metal Recovery And Sales RevenueFromMetalRecoveryAndSales	5723	usd
	arec	Revenue From Metal Recovery And Sales RevenueFromMetalRecoveryAndSales	187502	usd
	arec	Revenue From Metal Recovery And Sales RevenueFromMetalRecoveryAndSales	60148	usd
CY2024Q3	arec	Income From Royalty IncomeFromRoyalty	81388	usd
CY2023Q3	arec	Income From Royalty IncomeFromRoyalty	100963	usd
	arec	Income From Royalty IncomeFromRoyalty	146055	usd
	arec	Income From Royalty IncomeFromRoyalty	496682	usd
CY2024Q3	us-gaap	Revenues Revenues	235443	usd
CY2023Q3	us-gaap	Revenues Revenues	5828526	usd
	us-gaap	Revenues Revenues	333557	usd
	us-gaap	Revenues Revenues	16677671	usd
CY2023Q3	us-gaap	Accretion Expense AccretionExpense	248291	usd
	us-gaap	Accretion Expense AccretionExpense	744877	usd
	us-gaap	Accretion Expense AccretionExpense	744873	usd
CY2024Q3	us-gaap	Depreciation Depreciation	584083	usd
CY2023Q3	us-gaap	Depreciation Depreciation	9218	usd
	us-gaap	Depreciation Depreciation	1653642	usd
	us-gaap	Depreciation Depreciation	31036	usd
CY2024Q3	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	302103	usd
CY2023Q3	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	311685	usd
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	925473	usd
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	929229	usd
CY2024Q3	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	3936598	usd
CY2023Q3	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	1299303	usd
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	7937647	usd
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	3755386	usd
CY2024Q3	us-gaap	Professional Fees ProfessionalFees	682525	usd
CY2023Q3	us-gaap	Professional Fees ProfessionalFees	359411	usd
	us-gaap	Professional Fees ProfessionalFees	1823917	usd
	us-gaap	Professional Fees ProfessionalFees	999143	usd
CY2024Q3	us-gaap	Royalty Expense RoyaltyExpense	876503	usd
CY2023Q3	us-gaap	Royalty Expense RoyaltyExpense	891180	usd
	us-gaap	Royalty Expense RoyaltyExpense	1323596	usd
	us-gaap	Royalty Expense RoyaltyExpense	2369640	usd
CY2024Q3	us-gaap	Development Costs DevelopmentCosts	78809	usd
CY2023Q3	us-gaap	Development Costs DevelopmentCosts	1331118	usd
	us-gaap	Development Costs DevelopmentCosts	2996853	usd
	us-gaap	Development Costs DevelopmentCosts	9859609	usd
CY2024Q3	arec	Gain On Sale Of Equipment GainOnSaleOfEquipment	0	usd
CY2023Q3	arec	Gain On Sale Of Equipment GainOnSaleOfEquipment	0	usd
	arec	Gain On Sale Of Equipment GainOnSaleOfEquipment	-400000	usd
	arec	Gain On Sale Of Equipment GainOnSaleOfEquipment	0	usd
CY2024Q3	us-gaap	Operating Expenses OperatingExpenses	8493779	usd
CY2023Q3	us-gaap	Operating Expenses OperatingExpenses	4736536	usd
	us-gaap	Operating Expenses OperatingExpenses	19988643	usd
	us-gaap	Operating Expenses OperatingExpenses	25251341	usd
CY2023Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	1091990	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	-19655086	usd
CY2024Q3	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	-164845	usd
CY2023Q3	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	0	usd
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	-396205	usd
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	0	usd
CY2024Q3	us-gaap	Other Operating Income Expense Net OtherOperatingIncomeExpenseNet	-32101	usd
CY2023Q3	us-gaap	Other Operating Income Expense Net OtherOperatingIncomeExpenseNet	150000	usd
	us-gaap	Other Operating Income Expense Net OtherOperatingIncomeExpenseNet	140904	usd
	us-gaap	Other Operating Income Expense Net OtherOperatingIncomeExpenseNet	503000	usd
CY2024Q3	arec	Gain On Sales Of Assets GainOnSalesOfAssets	0	usd
CY2023Q3	arec	Gain On Sales Of Assets GainOnSalesOfAssets	2538576	usd
	arec	Gain On Sales Of Assets GainOnSalesOfAssets	0	usd
	arec	Gain On Sales Of Assets GainOnSalesOfAssets	8475468	usd
CY2024Q3	us-gaap	Interest Income Other InterestIncomeOther	7527	usd
CY2023Q3	us-gaap	Interest Income Other InterestIncomeOther	2831	usd
	us-gaap	Interest Income Other InterestIncomeOther	110916	usd
	us-gaap	Interest Income Other InterestIncomeOther	21595	usd
CY2024Q3	us-gaap	Interest Expense InterestExpense	774478	usd
CY2023Q3	us-gaap	Interest Expense InterestExpense	299762	usd
	us-gaap	Interest Expense InterestExpense	2109896	usd
	us-gaap	Interest Expense InterestExpense	1043551	usd
CY2023Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	2391645	usd
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-2254281	usd
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	7956512	usd
CY2024Q3	us-gaap	Profit Loss ProfitLoss	-9222233	usd
CY2023Q3	us-gaap	Profit Loss ProfitLoss	3483635	usd
	us-gaap	Profit Loss ProfitLoss	-21909367	usd
	us-gaap	Profit Loss ProfitLoss	-617158	usd
CY2024Q3	us-gaap	Income Loss Attributable To Noncontrolling Interest IncomeLossAttributableToNoncontrollingInterest	15465	usd
CY2023Q3	us-gaap	Income Loss Attributable To Noncontrolling Interest IncomeLossAttributableToNoncontrollingInterest	0	usd
	us-gaap	Income Loss Attributable To Noncontrolling Interest IncomeLossAttributableToNoncontrollingInterest	80888	usd
	us-gaap	Income Loss Attributable To Noncontrolling Interest IncomeLossAttributableToNoncontrollingInterest	0	usd
CY2024Q3	us-gaap	Income Loss Attributable To Parent IncomeLossAttributableToParent	-9206768	usd
CY2023Q3	us-gaap	Income Loss Attributable To Parent IncomeLossAttributableToParent	3483635	usd
	us-gaap	Income Loss Attributable To Parent IncomeLossAttributableToParent	-21828479	usd
	us-gaap	Income Loss Attributable To Parent IncomeLossAttributableToParent	-617158	usd
CY2024Q3	arec	Earning Per Share Basic And Diluted EarningPerShareBasicAndDiluted	-0.12
CY2023Q3	arec	Earning Per Share Basic And Diluted EarningPerShareBasicAndDiluted	0.05
	arec	Earning Per Share Basic And Diluted EarningPerShareBasicAndDiluted	-0.28
	arec	Earning Per Share Basic And Diluted EarningPerShareBasicAndDiluted	-0.01
CY2024Q3	arec	Weighted Average Number Of Shares Outstanding Basic And Diluted WeightedAverageNumberOfSharesOutstandingBasicAndDiluted	77400289	shares
CY2023Q3	arec	Weighted Average Number Of Shares Outstanding Basic And Diluted WeightedAverageNumberOfSharesOutstandingBasicAndDiluted	76245984	shares
	arec	Weighted Average Number Of Shares Outstanding Basic And Diluted WeightedAverageNumberOfSharesOutstandingBasicAndDiluted	77222990	shares
	arec	Weighted Average Number Of Shares Outstanding Basic And Diluted WeightedAverageNumberOfSharesOutstandingBasicAndDiluted	75144374	shares
	arec	Investments In Other Entities Related Parties Textblock InvestmentsInOtherEntitiesRelatedPartiesTextblock	<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 7 - INVESTMENTS IN OTHER ENTITIES - RELATED PARTIES</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company accounts for its investments and membership interest in other entities under the equity method of accounting if the Company has the ability to exercise significant influence, but not control, over the entity. Equity method investments are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the investments may not be recoverable.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Royalty Management Co.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">During January 2021, the company invested $2,250,000 for 50% ownership and became the managing member of American Opportunity Venture, LLC. (AOV) It has been determined that AOV is a variable interest entity and that the Company is the primary beneficiary, therefore AOV has been consolidated into the Company’s financial statement. As such, AOV’s sole investment in Royalty Management Co (RMCO) will be accounted for using the equity method of accounting. The sole investment was initially in American Acquisition Opportunity Inc (AMAO) a SPAC that closed its reverse merger with RMCO effective October 31, 2023. The Company recognizes the earnings or losses on a three-month lag to ensure consistency and timely filling of the Company’s financial statements. As of December 31, 2023 and September 30, 2024 the Company held 3,076,500 shares of Class A common stock in RMCO.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Novusterra, Inc.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On March 31, 2021, the Company entered into a Graphene Development Agreement with Novusterra, Inc (Novusterra), a related party, that provided a nonexclusive sublicense for fifty percent (50%) of the operating profits from Novustera’s Graphene manufacturing and marketing business activity. As part of the agreement, Novusterra’s Chairman of the Board of Directors at the time was replaced by the Company’s Mark Jensen, Chief Executive Officer and Chairman of the Board of Directors. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On August 30, 2022, we entered into a purchase agreement to sell the exclusive rights of the patent patents included in the Graphene Development Agreement for 4,000,000 common shares of Novusterra with a fair market value of $1,784,000 in stock of Novusterra. As part of the sale of the exclusive rights to the patents, Andrew Weeraratne resigned as director and CEO of Novusterra and Gregory Jensen, the Company’s general counsel, joined Novusterra as CEO and Director and Mark Jensen resigned as Chairman of the Board of Directors. Pursuant to the purchase agreement, Novusterra is no longer obligated to pay the Company fifty percent (50%) of the operating profits from their Graphene manufacturing and marketing business. However, Novusterra is still obligated to pay the Company ten percent (10%) of all revenue from the exclusive sublicense with Kenai Defense Company, LLC and for the Department of Defense under the contract that was transferred from the Company to Novusterra. Any subsequent contracts entered into by Novusterra with Kenai Defense Company, LLC and for the Department of Defense will have no future revenue allocations to the Company.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">It has been determined that Novusterra is a variable interest entity and that the Company is not the primary beneficiary. As such, the investment in Novusterra has been accounted for using the equity method of accounting. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Effective March 6, 2024, the Company issued a special dividend to all stockholders on record of 91% of the Company’s ownership in Novusterra, Inc. resulting in the Company to receive 9% of future cash flows and holding 1,417,500 common shares of Novusterra, Inc. Due to the Company new ownership in Novusterra, Inc. the investment is accounted for using the cost method of accounting.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">As of September 30, 2024 and December 31, 2023, the carrying value of the investment was $0 and $1,598,480.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">FUB Mineral LLC</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On October 1, 2021, the Company contributed $250,000 for a 23% ownership in FUB Mineral LLC (FUB). Simultaneously the Company issued a promissory note FUB for $350,000, this note was fully repaid as of April 15, 2022. On February 2, 2022, the Company issued a new promissory note for $535,000 to FUB with an interest rate of 10% and maturity date of February 1, 2023, which has been extended by the Company through the end of August 2024. As of September 30, 2024 and December 31, 2023, the Company had a note receivable balance of $0 and $99,022, respectively. The Company recorded an allowance for the full remaining balance of the note receivable as it was doubtful to receive payment as of September 30, 2024.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Advanced Magnet Lab, Inc</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On December 21, 2022 the Company issued a convertible promissory note to Advanced Magnet, Inc. (“AML”) for $2a 10,000 with 10% interest rate that compounds monthly. The Company’s Chief Executive Officer is a director of AML The convertible promissory note may be prepaid at any time. The Company has the option to convert the principal amounts of the convertible promissory note at a share price of $1.50 per share. As of September 30, 2024 and December 31, 2023, the Company had a note receivable balance of $280,000. </p>
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CY2023Q4	arec	Allowance For Doubtful Accounts Note Receivable Current AllowanceForDoubtfulAccountsNoteReceivableCurrent	368500	usd
CY2024Q3	arec	Total Property And Equipment Net TotalPropertyAndEquipmentNet	41546843	usd
CY2023Q4	arec	Total Property And Equipment Net TotalPropertyAndEquipmentNet	41714649	usd
CY2024Q3	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	24057063	usd
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CY2024Q3	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	17489780	usd
CY2023Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	20235124	usd
	arec	Investments Description InvestmentsDescription	maturity dates ranging from the fourth quarter of 2024 through the second quarter of 2025
CY2024Q3	us-gaap	Financial Instruments Owned At Fair Value FinancialInstrumentsOwnedAtFairValue	4651326	usd
CY2023Q4	us-gaap	Financial Instruments Owned At Fair Value FinancialInstrumentsOwnedAtFairValue	5847907	usd
	us-gaap	Longterm Purchase Commitment Period LongtermPurchaseCommitmentPeriod	P12Y
	us-gaap	Lease And Rental Expense LeaseAndRentalExpense	8954	usd
	arec	Rental Lease Expiration Date RentalLeaseExpirationDate	December 2032
CY2024Q3	arec	Accounts Payable Related Parties Currents AccountsPayableRelatedPartiesCurrents	245724	usd
	arec	Operating Leases In Years OperatingLeasesInYears	P4Y10M17D
CY2023	arec	Operating Leases In Years OperatingLeasesInYears	P7Y10M20D
	arec	Operating Leases Percent OperatingLeasesPercent	0.1000	pure
CY2023	arec	Operating Leases Percent OperatingLeasesPercent	0.1100	pure
	arec	Financing Leases In Years FinancingLeasesInYears	P38Y9M
	arec	Finance Lease Liability Percent FinanceLeaseLiabilityPercent	0.0900	pure
CY2024Q3	us-gaap	Operating Leases Future Minimum Payments Due Current OperatingLeasesFutureMinimumPaymentsDueCurrent	403162	usd
CY2024Q3	us-gaap	Operating Leases Future Minimum Payments Due In Two Years OperatingLeasesFutureMinimumPaymentsDueInTwoYears	2492071	usd
CY2024Q3	us-gaap	Operating Leases Future Minimum Payments Due In Three Years OperatingLeasesFutureMinimumPaymentsDueInThreeYears	2175404	usd
CY2024Q3	us-gaap	Operating Leases Future Minimum Payments Due In Four Years OperatingLeasesFutureMinimumPaymentsDueInFourYears	2223087	usd
CY2024Q3	us-gaap	Operating Leases Future Minimum Payments Due In Five Years OperatingLeasesFutureMinimumPaymentsDueInFiveYears	2266047	usd
CY2024Q3	us-gaap	Operating Leases Future Minimum Payments Due Thereafter OperatingLeasesFutureMinimumPaymentsDueThereafter	175221100	usd
CY2024Q3	arec	Undiscounted Cash Flows UndiscountedCashFlows	93828677	usd
CY2024Q3	arec	Less Imputed Interest LessImputedInterest	-71004652	usd
CY2024Q3	us-gaap	Operating Leases Future Minimum Payments Due OperatingLeasesFutureMinimumPaymentsDue	22824025	usd
CY2020Q2	arec	Purchase Secured Debt PurchaseSecuredDebt	1494570	usd
CY2023Q1	us-gaap	Line Of Credit LineOfCredit	1100000	usd
CY2023Q1	arec	Lease Term Description LeaseTermDescription	the thirty (30) year lease term with an option to automatically extend the lease for ten (10) years
CY2024Q3	us-gaap	Long Term Notes Payable LongTermNotesPayable	804656	usd
CY2023Q4	us-gaap	Long Term Notes Payable LongTermNotesPayable	804656	usd
CY2023Q1	us-gaap	Line Of Credit LineOfCredit	1100000	usd
CY2024Q3	us-gaap	Debt Instrument Fee Amount DebtInstrumentFeeAmount	894172	usd
CY2024Q3	arec	Debt Issuance Costs And Debt Discount DebtIssuanceCostsAndDebtDiscount	-1662413	usd
CY2023Q4	arec	Debt Issuance Costs And Debt Discount DebtIssuanceCostsAndDebtDiscount	-1464841	usd
CY2024Q3	arec	Notes Payable Gross NotesPayableGross	193337587	usd
CY2023Q4	arec	Notes Payable Gross NotesPayableGross	43535159	usd
CY2024Q3	us-gaap	Notes Payable Current NotesPayableCurrent	0	usd
CY2023Q4	us-gaap	Notes Payable Current NotesPayableCurrent	0	usd
CY2024Q3	arec	Notes Payable Net NotesPayableNet	193337587	usd
CY2023Q4	arec	Notes Payable Net NotesPayableNet	43535159	usd

Files In Submission

Name	View Source	Status
0001477932-24-007457-index-headers.html	Edgar Link	pending
0001477932-24-007457-index.html	Edgar Link	pending
0001477932-24-007457.txt	Edgar Link	pending
0001477932-24-007457-xbrl.zip	Edgar Link	pending
arec-20240930.xsd	Edgar Link	pending
arec_10q.htm	Edgar Link	pending
arec_ex211.htm	Edgar Link	pending
arec_ex311.htm	Edgar Link	pending
arec_ex312.htm	Edgar Link	pending
arec_ex321.htm	Edgar Link	pending
arec_ex322.htm	Edgar Link	pending
arec_ex951.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
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R40.htm	Edgar Link	pending
arec-20240930_def.xml	Edgar Link	unprocessable
arec-20240930_pre.xml	Edgar Link	unprocessable
arec-20240930_lab.xml	Edgar Link	unprocessable
FilingSummary.xml	Edgar Link	unprocessable
arec_10q_htm.xml	Edgar Link	completed
R41.htm	Edgar Link	pending
R42.htm	Edgar Link	pending
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R44.htm	Edgar Link	pending
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R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending
arec-20240930_cal.xml	Edgar Link	unprocessable

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$AREC
American Resources Corp Stock $arec

2024 Q4 Form 10-Q Financial Statement

#000147793224007457 Filed on November 19, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$AREC American Resources Corp Stock $arec

2024 Q4 Form 10-Q Financial Statement

#000147793224007457 Filed on November 19, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$AREC
American Resources Corp Stock $arec