• Filing Date: 2019-02-14
  • Form Type: S-1/A
  • Description: General form for registration of securities under the Securities Act of 1933 (Amendment)
v3.10.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Dec. 31, 2017
Dec. 31, 2016
Consolidated Statements Of Operations            
Coal Sales $ 8,890,322 $ 4,192,244 $ 23,219,222 $ 13,770,183 $ 19,231,249 $ 5,345,145
Processing Services Income 147,946 159,724 167,462 1,563,864 1,589,749 2,256,049
Total Revenue 9,038,268 4,351,968 23,386,684 15,334,047 20,820,998 7,601,194
Cost of Coal Sales and Processing (6,690,698) (2,797,140) (16,783,801) (12,307,399) (16,344,567) (8,961,653)
Accretion Expense (539,771) (339,288) (1,435,295) (1,181,055) (1,791,051) (1,664,774)
Loss on settlement 0 (30,055) 0 (281,907) 0 (71,245)
Depreciation (649,983) (697,214) (1,779,539) (1,856,442) (2,557,714) (2,262,855)
Amortization of mining rights (181,385) 0 (181,385) 0 0 0
General and Administrative (1,142,522) (26,940) (2,175,794) (189,604) (1,378,111) (237,601)
Professional Fees (784,922) (144,712) (1,222,937) (565,995) (694,366) (391,659)
Consulting Fees - Related Party 0 0 0 0 0 (12,340,615)
Production Taxes and Royalties (1,041,667) (865,950) (2,769,584) (3,464,611) (4,974,013) (1,250,365)
Impairment Loss from notes receivable from related party 0 0 0 0 (250,000) (510,902)
Development Costs (2,188,833) (1,035,286) (5,908,207) (4,172,759) (6,850,062) (1,760,594)
Total Expenses from Operations (13,219,781) (5,936,585) (32,256,542) (24,019,772) (34,839,884) (29,452,263)
Net Loss from Operations (4,181,513) (1,584,617) (8,869,858) (8,685,725) (14,018,886) (21,851,069)
Other Income 875,942 67,844 1,295,065 309,418 343,100 54,757
Gain on cancelation of debt 0 0 315,000 0 0 0
Receipt of previously impaired receivable 0 117,657 92,573 241,574 387,427 0
Amortization of debt discount and debt issuance costs     (420,134) (284,406) (477,056) (9,406)
Interest Income 0 0 41,171 0 298,721 0
Interest expense (305,655) (342,683) (864,104) (567,970) (558,772) (283,564)
Net Loss (3,611,226) (1,741,799) (7,990,153) (8,702,703) (14,025,466) (22,089,282)
Less: Series B dividend requirement (17,000) 0 (104,157) 0 (53,157) 0
Less: Net income attributable to Non Controlling Interest 0 (67,844) (151,278) (309,418) (343,099) (54,757)
Net loss attributable to American Resources Corporation Shareholders $ (3,628,226) $ (1,809,643) $ (8,245,588) $ (9,012,121) $ (14,421,722) $ (22,144,039)
Net loss per share - basic and diluted $ (2.49) $ (2.03) $ (8.76) $ (11.87) $ (18.20) $ 0.00
Weighted average shares outstanding 1,038,783 891,180 941,495 759,397 792,391 0