美国资源公司 - 2025年度报告

FORM 10-K (Mark One)☒ANNUAL REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year endedDecember 31, 2025 ☐TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from ____________to _____________Commission file number000-55456 AMERICAN RESOURCES CORPORATION (Exact Name of Registrant as specified in its charter) 46038(Zip Code) Securities registered under Section 12(b) of the Exchange Act: Title of each class Name of each exchange on which registered Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.☐Yes☒No Indicate by check mark whether the registrant is not required to file reports pursuant to Section 13 or 15 (d) of the Exchange Act.☐Yes☒No Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), Indicate by check mark whether the registrant has submitted every Interactive Data File required to be submitted pursuant to Rule 405of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation s-K (§ 229.405 of this chapter is notcontained herein and will not be contained to the best of registrant’s knowledge, in definitive proxy or information statementsincorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.☐Yes☐No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smallerreporting company. See the definitions of “large accelerated filer”, “accelerated filer” “smaller reporting company” in Rule 12b-2 of Accelerated filerSmaller reporting company Large accelerated filerNon-accelerated Filer If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).☐Yes If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☒ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to theprice at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day Indicate the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date. The number of shares outstanding of the issuer’s Common Stock, $.0001 par value, as ofMay 19, 2026 was 106,971,272 shares. DOCUMENTS INCORPORATED BY REFERENCE None. AMERICAN RESOURCES CORPORATIONANNUAL REPORT ON FORM 10-K PART I PART II PART III PART IV Item 15.Exhibits, Financial Statement Schedules Table of Contents Special Note Regarding Forward Looking Statements. This annual report on Form 10-K of American Resources Corporation for the year ended December 31, 2025 contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the SecuritiesExchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. To the extent that suchstatements are not recitations of historical fact, such statements constitute forward looking statements which, by definition involverisks and uncertainties. In particular, statements under the Sections; Description of Business, Management’s Discussion and Analysis You should not rely on forward looking statements in this annual report. This annual report contains forward looking statements thatinvolve risks and uncertainties. We use words such as “anticipates,” “believes,” “plans,” “expects,” “future,” “intends,” and similarexpressions to identify these forward-looking statements. Prospective investors should not place undue reliance on these forward- Table of Contents PART I Item 1. Business Overview When we formed our company, our focus was to (i) construct and/or purchase and manage a chain of combined gasoline, diesel andnatural gas (NG) fueling and service stations (initially,