American Resources Corp. Faces Delisting Notice
Ticker: AREC · Form: 8-K · Filed: Aug 2, 2024 · CIK: 1590715
Sentiment: bearish
Topics: delisting, compliance, financials
Related Tickers: AREC
TL;DR
AREC got a delisting notice, might be in trouble with the exchange.
AI Summary
American Resources Corp. (AREC) filed an 8-K on July 30, 2024, to report a notice of delisting or failure to satisfy continued listing rules. The company is also filing financial statements and exhibits.
Why It Matters
This filing indicates potential issues with American Resources Corp.'s compliance with stock exchange listing requirements, which could impact its stock's trading status.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's continued trading on an exchange.
Key Players & Entities
- American Resources Corp. (company) — Registrant
- July 30, 2024 (date) — Date of Earliest Event Reported
- 000-55456 (other) — Commission File Number
- 46-3914127 (other) — I.R.S. Employer Identification Number
FAQ
What specific listing rule has American Resources Corp. failed to satisfy?
The filing does not specify the exact listing rule that American Resources Corp. has failed to satisfy, only that a notice has been received.
What is the date of the earliest event reported in this 8-K?
The date of the earliest event reported is July 30, 2024.
What is the Commission File Number for American Resources Corp.?
The Commission File Number for American Resources Corp. is 000-55456.
What is the I.R.S. Employer Identification Number for American Resources Corp.?
The I.R.S. Employer Identification Number for American Resources Corp. is 46-3914127.
What other items are being filed along with the notice of delisting?
The filing also includes Financial Statements and Exhibits.
Filing Stats: 544 words · 2 min read · ~2 pages · Grade level 12 · Accepted 2024-08-02 17:00:26
Key Financial Figures
- $1.00 — intained a minimum closing bid price of $1.00 per share ("Minimum Bid Price Requireme
Filing Documents
- arec_8k.htm (8-K) — 20KB
- arec_ex991.htm (EX-99.1) — 2KB
- arec_ex991img1.jpg (GRAPHIC) — 199KB
- arec_ex991img2.jpg (GRAPHIC) — 163KB
- arec_8kimg2.jpg (GRAPHIC) — 5KB
- 0001654954-24-009893.txt ( ) — 646KB
- arec-20240730.xsd (EX-101.SCH) — 6KB
- arec-20240730_lab.xml (EX-101.LAB) — 13KB
- arec-20240730_cal.xml (EX-101.CAL) — 1KB
- arec-20240730_pre.xml (EX-101.PRE) — 8KB
- arec-20240730_def.xml (EX-101.DEF) — 2KB
- arec_8k_htm.xml (XML) — 3KB
01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard On July 30, 2024, American Resources Corporation (or the "Company") received a letter from the Nasdaq Stock Market indicating that for 31 consecutive business days the Company's stock has not maintained a minimum closing bid price of $1.00 per share ("Minimum Bid Price Requirement") as required by Nasdaq Listing Rule 5550(a)(2). The notification of noncompliance has no immediate effect on the listing or trading of the Company's stock on the Nasdaq Capital Market. Under the Listing Rules, if during the 180 calendar days following the date of the notification, or prior to January 27, 2025, the closing bid price of the Company's stock is at or above $1.00 for a minimum of 10 consecutive business days, the Company will regain compliance with the Minimum Bid Price Requirement and the common stock will continue to be eligible for listing on the Nasdaq Capital Market. If the Company does not achieve compliance with the Minimum Bid Price Requirement by January 27, 2025, the Company may be eligible for an additional 180 day period to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the Minimum Bid Price Requirement, by providing a written notice of its intention to cure the deficiency during the second compliance period. If the Company meets these requirements, an additional 180 days will be granted. If the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, Nasdaq will provide a notice that the Company's common stock will be subject to delisting.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits The following exhibits are attached hereto and filed herewith. Exhibit No. Description 99.1 Notification Letter from Nasdaq dated July 30, 2024 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: August 2, 2024 By: /s/ Mark C. Jensen Mark C. Jensen Chief Executive Officer 3