American Clean Resources Group Files 10-Q
Ticker: ACRG · Form: 10-Q · Filed: 2025-08-20T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, quarterly-report, mining
TL;DR
ACRG filed its Q1 2025 10-Q. Business as usual in mining.
AI Summary
American Clean Resources Group, Inc. filed its quarterly report (10-Q) for the period ending March 31, 2025. The company, formerly known as Standard Metals Processing, Inc., is incorporated in Nevada and operates in the mining sector. Its principal executive offices are located in Lakewood, Colorado.
Why It Matters
This filing provides investors with an update on the company's financial performance and operational status for the first quarter of 2025.
Risk Assessment
Risk Level: low — This is a routine quarterly filing with no immediate red flags or significant new information presented.
Key Numbers
- 000-14319 — Commission File Number (Identifies the company's filing with the SEC)
- 84-0991764 — I.R.S. Employer Identification Number (Unique tax identification number for the company)
Key Players & Entities
- American Clean Resources Group, Inc. (company) — Filer of the 10-Q
- March 31, 2025 (date) — End of the reporting period
- Standard Metals Processing, Inc. (company) — Former name of the filer
- Nevada (location) — State of incorporation
- Lakewood, Colorado (location) — Location of principal executive offices
FAQ
What is the primary business of American Clean Resources Group, Inc.?
American Clean Resources Group, Inc. is primarily involved in the mining, quarrying of nonmetallic minerals (no fuels) sector, as indicated by its Standard Industrial Classification code [1400].
When was the company's name changed from Standard Metals Processing, Inc.?
The filing does not specify the exact date of the name change from Standard Metals Processing, Inc., but it lists previous name changes for Standard Gold Holdings, Inc. in 2013 and Standard Gold in 2010.
What is the fiscal year end for American Clean Resources Group, Inc.?
The fiscal year end for American Clean Resources Group, Inc. is December 31st.
What is the principal business address of the company?
The principal executive offices are located at 12567 West Cedar Drive, Suite 203, Lakewood, Colorado 80228-2039.
What period does this 10-Q filing cover?
This Form 10-Q covers the three months ended March 31, 2025.
Filing Stats: 4,580 words · 18 min read · ~15 pages · Grade level 13.7 · Accepted 2025-08-20 08:45:31
Key Financial Figures
- $0.001 — stock issued and outstanding (par value $0.001) Documents Incorporated by Reference:
- $0 — recorded total amortization expense of $0 and $ 83,462 , respectively. Amortizati
Filing Documents
- ea0253772-10q_american.htm (10-Q) — 672KB
- ea025377201ex4-1_american.htm (EX-4.1) — 5KB
- ea025377201ex31-1_american.htm (EX-31.1) — 10KB
- ea025377201ex31-2_american.htm (EX-31.2) — 10KB
- ea025377201ex32-1_american.htm (EX-32.1) — 4KB
- ea025377201ex32-2_american.htm (EX-32.2) — 4KB
- 0001213900-25-078758.txt ( ) — 4316KB
- acrg-20250331.xsd (EX-101.SCH) — 27KB
- acrg-20250331_cal.xml (EX-101.CAL) — 18KB
- acrg-20250331_def.xml (EX-101.DEF) — 158KB
- acrg-20250331_lab.xml (EX-101.LAB) — 244KB
- acrg-20250331_pre.xml (EX-101.PRE) — 178KB
- ea0253772-10q_american_htm.xml (XML) — 628KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 20 ITEM 4.
Controls and Procedures
Controls and Procedures 26 Part II 28 OTHER INFORMATION 28 ITEM 1.
Legal Proceedings
Legal Proceedings 28 ITEM 1A.
Risk Factors
Risk Factors 28 ITEM 6. Exhibits 29
SIGNATURES
SIGNATURES 30 i PART 1 – FINANCIAL STATEMENTS Item 1. Financial Statements American Clean Resources Group, Inc. Unaudited Condensed Consolidated Balance Sheets March 31, December 31, 2025 2024 (Unaudited) Assets Current assets: Cash $ 2,119 $ 719 Prepaid expenses - 10,000 Total current assets 2,119 10,719 Mineral rights 3,883,524 3,883,524 Total assets $ 3,885,643 $ 3,894,243 Liabilities and stockholders' deficit Convertible promissory notes, related party 664,791 425,588 Accounts payable 1,573,081 1,528,366 Accounts payable – related party 190,858 190,858 Accrued interest 2,172,329 2,077,700 Accrued interest - related party 39,351 28,857 Total current liabilities 4,640,410 4,251,369 Commitments and contingencies (Note 8) Preferred stock, 50,000,000 shares authorized Series A, $ .001 par value, 10,000,000 shares issued and outstanding as of March 31, 2025 and December 31, 2024 10,000,000 10,000,000 Stockholders' deficit: Common stock, $ 0.001 par value, 500,000,000 shares authorized: 14,423,560 issued and outstanding as of March 31, 2025 and December 31, 2024 13,912 13,912 Additional paid-in capital 103,182,899 103,182,899 Accumulated deficit ( 113,951,578 ) ( 113,553,937 ) Total stockholders' deficit $ ( 10,754,767 ) $ ( 10,357,126 ) Total liabilities and stockholders' deficit $ 3,885,643 $ 3,894,243 The accompanying footnotes are an integral part of these condensed consolidated financial statements. 1 American Clean Resources Group, Inc. Unaudited Condensed Consolidated Statements of Operations For Three Months Ended March 31, 2025 2024 RESTATED Operating expenses: General and administrative expenses $ 294,932 $ 211,498 Total operating expenses 294,932 211,498 Loss from operations ( 294,932 ) ( 211,498 ) Other income (expense): Other income 2,414 7,099 Interest expense ( 105,123 ) ( 87,875 ) Total other expense, net ( 102,709 )