American Clean Resources Group Files 2023 Annual Report

Ticker: ACRG · Form: 10-K · Filed: Jul 16, 2024 · CIK: 773717

Sentiment: neutral

Topics: annual-report, 10-k, company-information

TL;DR

ACRG filed its 2023 10-K. All looks standard.

AI Summary

American Clean Resources Group, Inc. filed its annual report for the year ended December 31, 2023. The company, formerly known as Standard Metals Processing, Inc., is incorporated in Nevada and headquartered in Lakewood, Colorado. Its principal executive offices are located at 12567 West Cedar Drive, Suite 203, Lakewood, CO 80228-2039, with a contact phone number of (888) 960-7347.

Why It Matters

This 10-K filing provides investors with a comprehensive overview of American Clean Resources Group's financial performance and business operations for the fiscal year 2023.

Risk Assessment

Risk Level: low — The provided text is a standard 10-K filing header and does not contain specific financial or operational details that would indicate high risk.

Key Players & Entities

FAQ

What is the primary business of American Clean Resources Group, Inc.?

The Standard Industrial Classification (SIC) code provided is 'MINING, QUARRYING OF NONMETALLIC MINERALS (NO FUELS) [1400]', suggesting operations related to non-metallic minerals.

When did American Clean Resources Group, Inc. change its name from Standard Metals Processing, Inc.?

The filing indicates a date of name change from Standard Metals Processing, Inc. to American Clean Resources Group, Inc. on December 20, 2013.

What is the SEC file number for this filing?

The Commission File Number for this 10-K filing is 000-14319.

In which state is American Clean Resources Group, Inc. incorporated?

The company is incorporated in Nevada.

What is the address of the principal executive offices?

The principal executive offices are located at 12567 West Cedar Drive, Suite 203, Lakewood, Colorado 80228-2039.

Filing Stats: 4,591 words · 18 min read · ~15 pages · Grade level 13.9 · Accepted 2024-07-16 17:24:02

Key Financial Figures

Filing Documents

RISK FACTORS

ITEM 1A. RISK FACTORS 5

PROPERTIES

ITEM 2. PROPERTIES 9

LEGAL PROCEEDINGS

ITEM 3. LEGAL PROCEEDINGS 9

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 9 PART II

MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 10

[Reserved]

ITEM 6. [Reserved] 10

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 11

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 16

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 16

CONTROLS AND PROCEDURES

ITEM 9A. CONTROLS AND PROCEDURES 17

OTHER INFORMATION

ITEM 9B. OTHER INFORMATION 18

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 18 PART III

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 19

EXECUTIVE COMPENSATION

ITEM 11. EXECUTIVE COMPENSATION 21

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 22

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 23

PRINCIPAL ACCOUNTANT FEES AND SERVICES

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 24 PART IV

EXHIBITS, FINANCIAL STATEMENT SCHEDULES

ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES 25

SIGNATURES

SIGNATURES 26 i PART I SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains both historical statements and statements that are forward-looking in nature. Historical statements are based on events that have already happened. Certain of these historical events provide some basis to our management, with which assumptions are made relating to events that are reasonably expected to happen in the future. Management also relies on information and assumptions provided by certain third- party operators of our projects as well as assumptions made with the information currently available to predict future events. These future event predictions, or forward-looking statements, include (but are not limited to) statements related to the uncertainty of the quantity or quality of ore or tailings grades, the fluctuations in the market price of such reserves, as well as gold, silver and other precious minerals, general trends in our operations or financial results, plans, expectations, estimates and beliefs. You can identify

forward-looking statements by terminology such as "may," "could," "should," "anticipate,"

forward-looking statements by terminology such as "may," "could," "should," "anticipate," "believe," "estimate," "continue," "expect," "intend," "plan," "predict," "potential" and similar expressions and their variants. These forward-looking statements reflect our judgment as of the date of this Annual Report with respect to future events, the outcome of which is subject to risks, which may have a significant impact on our business, operating results and/or financial condition. Readers are cautioned that these forward-looking statements are inherently uncertain. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those described herein. We undertake no obligation to update forward-looking statements. The risks identified in Item 1A, among others, may impact forward-looking statements contained in this Annual Report.

BUSINESS

ITEM 1. BUSINESS Business Overview General American Clean Resources Group, Inc. ("we," "us," "our," "ACRG" or the "Company") is an exploration stage company having offices in Lakewood, Colorado and, through its subsidiaries, a property in Tonopah, Nevada. Our business plan is to purchase equipment and build a facility on our Tonopah property to serve as a permitted custom processing toll milling facility (which includes an analytical lab, pyrometallurgical plant, and hydrometallurgical recovery plant). The Company plans to perform permitted custom processing toll milling, which is a process whereby mined material is crushed and ground into fine particles to ease the extraction of any precious minerals contained therein, such as minerals in the gold, silver, and platinum metal groups. Custom milling and refining can include many different processes that are designed specifically for each ore load and to maximize the extraction of precious metals from carbon or concentrates. These toll-processing services also distill, dry, mix, or mill chemicals and bulk materials on a contractual basis and provide a chemical production outsourcing option for industrial companies, which lack the expertise, capacity, or regulatory permits for in-house production. We are required to obtain several permits before we can begin construction of a small-scale mineral processing facility to conduct permitted processing toll milling activities and construction of the required additional buildings for us to commence operations. Any reference herein to "ACRG" "the Company," "we," "our," or "us" is intended to mean American Clean Resources Group, Inc., a Nevada corporation, and all of our subsidiaries unless otherwise indicated. Corporate History The Company was incorporated in the State of Colorado on July 10, 1985, as Princeton Acquisitions, Inc. On December 7, 2009, the Company changed its name to Standard Gold, Inc. Effective March 5, 2013, the Company moved its domicile from Col

RISK FACTORS

ITEM 1A. RISK FACTORS An investment in our common stock is highly speculative and involves a high degree of risk. Before making an investment decision, you should carefully consider the risks described below together with all of the other information included in this prospectus. The statements contained in or incorporated into this prospectus that are not historic facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. If any of the following risks actually occur, our business, financial condition or results of operations could be harmed. In that case, the value of our common stock could decline, and an investor in our securities may lose all or part of their investment. Risks Related to Our Capital Stock INVESTORS MAY BE UNABLE TO ACCURATELY VALUE OUR COMMON STOCK. Investors often value companies based on the stock prices and results of operations of other comparable companies. Currently, we do not believe another publicly traded permitted custom processing toll milling company exists that is directly comparable to our size and scale. Prospective investors, therefore, have limited historical information about our permitted custom processing toll milling capabilities on which to base an evaluation of our performance and prospects and an investment in our common stock. As such, investors may find it difficult to accurately value our common stock. INVESTORS MAY FACE SIGNIFICANT RESTRICTIONS ON THE RESALE OF OUR COMMON STOCK DUE TO FEDERAL REGULATION OF PENNY STOCKS. The SEC has defined any equity security with a market price of less than $5.00 per share as a "penny stock." Penny stocks are subject to the requirements or Rule 15(g)-9 of the Securities Exchange Act of 1934. Our common stock is quoted on the Over the Counter ("OTC") Markets under the symbol ACRG and despite recent trading prices above $5.00 per share,

View Full Filing

View this 10-K filing on SEC EDGAR

View on Read The Filing