Every 10-Q that AMERICAN RESOURCES CORP (AREC) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow AREC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full AREC filings page.
American Resources Corporation filed an amended quarterly report for the period ended September 30, 2025 to correct immaterial XBRL tagging and coding errors and to reflect previously disclosed restatements of 2024 financial statements. For the third quarter of 2025, the company generated minimal revenue of $165 and reported a net loss attributable to shareholders of $4.4 million, with a nine‑month 2025 net loss of $10.2 million on total revenue of $45,349. The balance sheet shows current assets of $8.4 million versus current liabilities of $84.8 million, total liabilities of $297.4 million, and a total deficit of $95.1 million. Management states there is substantial doubt about the company’s ability to continue as a going concern and notes that a private placement completed in October 2025 raised approximately $74 million, but those proceeds cannot be used to pay debt or litigation claims. The business continues shifting away from suspended coal operations toward development‑stage ReElement and Electrified Materials segments.
American Resources Corporation (AREC) filed its Q3 2025 report, showing minimal revenue and continued losses while highlighting liquidity risks. Total revenue was $50,165, largely from service fees, and the company reported a net loss of $6,302,798 (loss per share $0.07 on 84,305,073 weighted average shares). Interest expense of $1,980,211 weighed on results.
On the balance sheet, assets totaled $201.2 million against liabilities of $296.2 million, leaving a stockholders’ deficit of $93,434,303 as of September 30, 2025. Current liabilities were $83,620,479, including a bond payable, current of $43,712,978. Cash and cash equivalents were $2,081,780 with $4,618,695 in restricted cash and $150,053,029 in restricted investments.
The company included going concern language, citing substantial doubt about its ability to continue without additional financing. It also detailed previously disclosed restatements of prior periods for multiple reclassifications and corrections, including investments, bond classification, lease accounting, interest accruals, and expense classification. Shares outstanding were 85,976,023 as of September 30, 2025; as of November 14, 2025, 84,608,920 shares were issued and outstanding.
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 reported very limited operating revenue and continued heavy losses for the quarter ended June 30, 2025 while carrying a large debt load. Total revenue was only $13,256 in the quarter and $45,184 for the first six months of 2025. Net loss attributable to shareholders was $8.7 million for the quarter and $15.3 million year-to-date, or $(0.10) and $(0.19) per share, respectively. Operating cash flow was negative $8.9 million for the first half.
Total assets were $200.4 million and total liabilities $292.6 million, resulting in a stockholders’ deficit of $90.6 million as of June 30, 2025. The company also had $193.4 million of tax-exempt bonds outstanding, all classified as current because of covenant noncompliance. Management states there is substantial doubt about the company’s ability to continue as a going concern without additional financing. During early 2025, it distributed majority ownership in its American Infrastructure and ReElements businesses but continues to consolidate them as variable interest entities, and it has restated prior 2023 and 2024 financial statements to correct multiple GAAP-related errors.