American Res Corp SEC Filings

American Resources Corporation filed Amendment No. 2 to its Q1 2025 report to address an SEC comment letter, correct errors, and restate certain items. The company disclosed a correction to depreciation and amortization calculations, which overstated accumulated depreciation by $857,934, and reclassified amounts from restricted cash to restricted investments.

For the quarter ended March 31, 2025, revenue was $31,927 and the net loss attributable to shareholders was $6,652,763. Operating cash flow used was $1,434,850. Total assets were $203.6M against total liabilities of $289.3M, resulting in a stockholders’ deficit of $(84.1)M. Cash and restricted cash totaled $154,403,043. Shares outstanding were 80,491,849 as of March 31, 2025.

The company states there is substantial doubt about its ability to continue as a going concern and plans to seek additional financing. Financial statements and footnotes have been revised where applicable to reflect the restatements and reclassifications.

American Resources Corporation filed Amendment No. 2 to its annual report for the year ended December 31, 2024 to address SEC comments, correct errors, and restate certain 2024 and 2023 financial statement items.

The company corrected a depreciation error that overstated accumulated depreciation as of December 31, 2024 by $857,934, and overstated 2024 depreciation and amortization of mining rights expense by $550,640 and $307,294, respectively. For 2023, the statement of operations was adjusted for omitted “net revenue adjustments” that increased cost of coal sales and holding costs and decreased coal sales by $1,412,500, with no change to the 2023 consolidated net loss or net assets. Certain amounts previously shown as restricted cash were reclassified to restricted investments for 2024 and 2023.

Operationally, mining remains idled. 2024 coal production was zero tons versus 75,353 tons in 2023. At Wyoming County Coal, an Industrial Development Bond supports redevelopment; approximately $32,500,000 of the initial $36,500,000 project fund was expended as of December 31, 2024.

American Resources Corp (AREC): Alex Lau filed an amended Form 4 correcting the transaction code to reflect a sale. The filing reports the sale of 1,000,000 shares of Class A common stock at $1.12 on 07/31/2025. Following the transaction, Lau beneficially owned 13,389,960 shares, held directly. The amendment clarifies that the transaction was a sale by changing the code from “P” to “S”.

American Resources Corp (AREC) insider filing: A director reported selling 1,000,000 shares of Class A common stock on 08/19/2025 at $1.26 per share. Following the transaction, the reporting person beneficially owned 12,389,960 shares, held directly. This filing is an amendment that corrects the transaction code in Table I from “P” (purchase) to “S” (sale).

American Resources Corp (AREC): Director Alex Lau reported an open‑market sale of Class A common stock. On 10/20/2025, Lau sold 20,000 shares at a price of $4.12 per share, according to a Form 4 filing. Following the transaction, Lau directly beneficially owns 11,389,960 shares.

The filing identifies Lau as a director and indicates direct ownership for the post‑transaction balance.

American Resources Corp (AREC): Reporting person Alex Lau filed a Form 4 disclosing an open-market sale of 980,000 shares of common stock at $4.06 per share on 10/17/2025 (transaction code S). Following the transaction, the filer reports 11,409,960 shares beneficially owned, held directly.

The filing indicates it was submitted by one reporting person. The role box shows service as a Director.

American Resources Corporation entered into securities purchase agreements for a private placement, selling 2,661,764 shares of common stock at $5.10 per share and issuing pre-funded warrants to purchase up to 5,181,374 shares at an exercise price of $0.0001, priced at $5.0999 per pre-funded unit. The closing is anticipated on or about October 16, 2025.

Maxim Group LLC acted as sole placement agent and will receive a 7.0% cash fee on aggregate gross proceeds plus up to $100,000 in expense reimbursement. Directors and officers agreed to a 60-day lock-up; the company is similarly restricted from most issuances and new registration statements for 60 days, subject to exceptions. Purchasers receive a pro rata right to participate in up to 30% of any Subsequent Equity Financing for 12 months.

The company plans to use net proceeds to support development of domestic critical mineral processing, including coal waste extraction, and for corporate development, working capital and general purposes. The company will file a resale registration within 10 days and use commercially reasonable efforts for effectiveness within 30 days (or 60 days if reviewed).

American Resources Corporation entered into securities purchase agreements for a private placement of 9,480,282 shares of common stock at $3.55 per share. The transaction is expected to close on or about October 14, 2025. The company plans to use net proceeds to support domestic critical mineral processing, including coal waste extraction, a 10k MT magnet manufacturing facility, and for corporate development, working capital and general purposes.

Pursuant to the agreements, purchasers receive a 12‑month right to participate in up to 30% of any subsequent equity financing on the same terms. Company directors and executive officers agreed to 60 days of lock-up following closing, and the company agreed to file a resale registration statement within 15 days of closing and use commercially reasonable efforts for effectiveness within 30 days (or 60 days if reviewed). Maxim Group LLC acted as sole placement agent, earning a 7.0% cash fee and up to $100,000 for expenses, plus short-term tail and right-of-first-refusal provisions.

American Resources Corporation entered securities purchase agreements for a private placement of 9,480,282 shares of common stock at $3.55 per share. The shares are being offered under Section 4(a)(2) and/or Rule 506(b) of Regulation D. The company said it intends to use proceeds for working capital, with closing anticipated on or about October 15, 2025.

Maxim Group LLC acted as sole placement agent and will receive a cash fee equal to 7.0% of aggregate gross proceeds under a placement agency agreement containing customary terms. Directors and executive officers entered lock-up agreements in connection with the offering. The company noted the securities have not been registered and may not be offered or sold in the U.S. absent registration or an applicable exemption.