American Resources Corp Changes Auditors

TL;DR

AREC swapped auditors from PwC to BDO USA, effective May 3rd.

AI Summary

American Resources Corporation (AREC) announced on May 3, 2024, a change in its certifying accountant. The company has dismissed PricewaterhouseCoopers LLP and engaged BDO USA, P.A. as its new independent registered public accounting firm, effective immediately.

Why It Matters

A change in auditors can sometimes signal underlying issues or a desire for a fresh perspective on financial reporting, which investors should monitor.

Risk Assessment

Risk Level: medium — Changes in auditors can sometimes precede or coincide with financial restatements or other disclosures that may impact stock price.

Key Players & Entities

• American Resources Corporation (company) — Registrant
• PricewaterhouseCoopers LLP (company) — Former Certifying Accountant
• BDO USA, P.A. (company) — New Certifying Accountant
• May 3, 2024 (date) — Date of Earliest Event Reported

FAQ

Filing Documents

• arec_8k.htm (8-K) — 22KB
• 0001654954-24-005580.txt ( ) — 134KB
• arec-20240503.xsd (EX-101.SCH) — 6KB
• arec-20240503_lab.xml (EX-101.LAB) — 13KB
• arec-20240503_cal.xml (EX-101.CAL) — 1KB
• arec-20240503_pre.xml (EX-101.PRE) — 8KB
• arec-20240503_def.xml (EX-101.DEF) — 2KB
• arec_8k_htm.xml (XML) — 3KB

01 Changes in Registrant's Certifying Accountant

Item 4.01 Changes in Registrant's Certifying Accountant (a) Dismissal of Independent Registered Public Accounting Firm On May 3, 2024, the Audit Committee (the "Audit Committee") of the Board of Directors of American Resources Corporation (or the "Company") approved the dismissal of BF Borgers CPA PC ("BF Borgers") as the Company's independent registered public accounting firm. The reports of BF Borgers on the Company's consolidated financial statements for the fiscal years ended December 31, 2023, and December 31, 2022, did not contain an adverse opinion or a disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles other than an explanatory paragraph relating to the Company's ability to continue as a going concern. During the fiscal years ended December 31, 2023, and December 31, 2022, and through the date of termination, May 3, 2024, there were no "disagreements" with BF Borgers on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements if not resolved to the satisfaction of BF Borgers would have caused BF Borgers to make reference thereto in its reports on the consolidated financial statement for such years. During the fiscal years ended December 31, 2023, and December 31, 2022, and through May 3, 2024, there have been no "reportable events" (as defined in Item 304(a)(1)(iv) and Item 304(a)(1)(v) of Registration S-K), except for the identified material weaknesses in its internal control over financial reporting as disclosed in the Company's Annual Report. The Company provided BF Borgers with a copy of the disclosure made herein in response to Item 304(a) of Regulation S-K. In the event BF Borgers does not furnish the Company with a copy of its letter addressed to the Securities and Exchange Commission (the "SEC"), pursuant to Item 304(a)(3) of Regulation S-K, stating whether or not BF Borgers agrees with the statements made by

01. 1. Financial Statements and Exhibits

Item 9.01. 1. Financial Statements and Exhibits. None 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. American Resources Corporation Date: May 3, 2024 By /s/ Mark C. Jensen Mark C. Jensen Chief Executive Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR