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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED)        
Coal Sales $ 9,441,366 $ 2,779,193 $ 34,442,413 $ 3,121,782
Metal Aggregating, Processing and Sales 4,988 20,510 45,507 48,385
Royalty Income 63,384 14,220 301,646 47,614
Total Revenue 9,509,738 2,813,923 34,789,566 3,217,781
Cost of Coal Sales and Processing (6,955,403) (3,068,847) (15,415,398) (4,813,688)
Accretion Expense (356,303) (305,636) (987,744) (916,909)
Depreciation (602,503) (495,676) (1,858,886) (1,364,220)
Amortization of Mining Rights (311,685) (314,765) (926,764) (938,135)
General and Administrative (734,515) (826,480) (2,658,376) (2,501,548)
Professional Fees (302,732) (287,414) (889,157) (1,191,397)
Production Taxes and Royalties (1,185,970) (215,681) (2,791,455) (883,339)
Development Costs (3,692,774) (5,142,306) (22,009,368) (10,009,860)
Total Operating Expenses (14,141,885) (10,656,805) (47,537,148) (22,619,096)
Net Loss from Operations (4,632,147) (7,842,882) (12,747,582) (19,401,315)
Other Income (loss) 36,224 (58,340) 194,381 (469,927)
Unrealized loss on trading securities (1,960) 0 (9,562) 0
Gain (loss) on cancelation of debt (362,377) 0 3,050,775 0
Amortization of debt discount and issuance costs 0 (3,179) 0 (8,637)
Interest Income 1,162 85,901 14,489 187,293
Interest expense (310,681) (1,095,021) (969,018) (2,260,965)
Total Other income (expense) (637,632) (1,070,639) 2,281,065 (2,552,236)
Net Income (Loss) (5,226,840) (8,913,521) (10,466,517) (21,953,551)
Less: Non-Controlling interest 42,939 0 63,489 0
Net loss attributable to American Resources Corporation shareholders $ (5,226,840) $ 0 $ (10,403,028) $ 0
Net loss per common share - basic and diluted $ (0.08) $ (0.15) $ (0.16) $ (0.41)
Weighted average common shares outstanding 66,377,788 60,065,087 65,846,220 53,087,092