Mon, Jun 2, 10:03 AM (21 days ago)
### Summary of American Resources Corporation (AREC) 10-K/A **Financial Performance:** - **Revenue:** $383,234 (2024) vs. $13,234,399 (2023) - **Net Loss:** $40,196,740 (2024) vs. $38,724,963 (2023) - **Earnings Per Share (EPS):** $(0.52) (2024) vs. $(0.51) (2023) **Operating Expenses:** - **Total Operating Expenses:** $33,472,296 (2024) vs. $49,609,601 (2023) - **Key Expenses:** Significant decreases in coal production, litigation, and development costs, partially offset by increases in depreciation, amortization, general and administrative, and professional fees. **Liquidity and Capital Resources:** - **Cash Balance:** $604,485 (2024) - **Working Deficit:** $73,477,808 (2024) - **Funding:** Expects to fund liquidity requirements over the next 12 months primarily with cash on hand and additional debt and equity financing transactions. **Market Position:** - **Trading Symbol:** AREC (NASDAQ Capital Market) - **Shareholders:** 131 Class A Common Stock shareholders holding 78,017,047 shares (2024) **Strategic Overview:** - **Business Focus:** Transition from coal production to rare earth and battery elements through subsidiaries ReElement Technologies and Electrified Materials Corporation. - **Future Outlook:** Anticipates increasing revenues from new business models in 2025 but will continue to require cash flows from financing activities. **Risk Factors:** - **Market Conditions:** Adverse market conditions and pricing pressures led to the suspension of coal production activities. - **Financial Condition:** Significant uncertainties related to generating revenues and obtaining additional financing. **Amendment Details:** - **Restatement:** Identified accounting errors in historical financial statements, requiring restatement and adjustments to previously reported 2023 consolidated financial statements. - **Impact:** Adjustments affect various line items in the balance sheet, income statement, and cash flow statement, including cash equivalents, restricted cash, investments, and liabilities. **Note:** Amounts are usually in thousands, 000s.