American Resources Corp-A 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 1934 For the transition period from ____________to _____________ Commission file number000-55456 AMERICAN RESOURCES CORPORATION (Exact Name of Registrant as specified in its charter) 46-3914127(I.R.S Employer Florida(State or jurisdiction of Incorporation or organization Identification No.) 46038(Zip Code) 12115 Visionary Way Fishers, Indiana(Address of principal executive offices) Registrant’s telephone number, including area code:317-855-9926 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),and (2) has been subject to such filing requirements for the past 90 days.☐Yes☒No 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 wasrequired to submit such files).☒Yes☐No 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 ofthe Exchange Act. Large accelerated filerNon-accelerated Filer(Do not check if a smaller company) 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☒No 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 dayof the registrant’s most recently completed second fiscal quarter; $63,949,282. 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. TABLE OF CONTENTS PageSpecial Note Regarding Forward Looking Statements3 PART I Item 1.Business4Item 1A.Risk Factors6Item 1B.Unresolved Staff Comments6Item 2.Properties6Item 3.Legal Proceedings7Item 4.Mine Safety Disclosures7 PART II Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of EquitySecurities8Item 6.Selected Financial Data12Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations12Item 7A.Quantitative and Qualitative Disclosure About Market Risk15Item 8.Financial Statements and Supplementary Data15Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure15Item 9A.Controls and Procedures15Item 9B.Other Information16 PART III Item 10.Directors, Executive Officers and Corporate Governance17Item 11.Executive Compensation23Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters26Item 13.Certain Relationships and Related Transactions, and Direct