Business Context and Reporting Period
This Form 8-K Current Report was filed by American Resources Corporation (NASDAQ: AREC) on November 21, 2025. The filing addresses a change in the company's independent registered public accounting firm.
Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The document focuses exclusively on corporate governance regarding the audit firm.
Material Changes
- Dismissal of Auditor: The Audit Committee approved the dismissal of GBQ Partners LLC as the independent registered public accounting firm, effective November 21, 2025.
- Appointment of New Auditor: The Audit Committee approved the appointment of GreenGrowth CPAs as the new independent public accounting firm, effective immediately.
- Audit History: GBQ's reports for fiscal years ended December 31, 2023, and December 31, 2024, did not contain adverse opinions or disclaimers. However, they included an explanatory paragraph regarding the company's ability to continue as a going concern.
- Disagreements: The company reported no disagreements with GBQ on accounting principles or auditing scope. The only "reportable events" were material weaknesses in internal control over financial reporting previously disclosed in the Annual Report.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on operations, or new risk factors beyond the implications of the auditor change. The primary risk highlighted is the previously disclosed material weaknesses in internal control over financial reporting and the associated going concern qualification.
Key Facts for Investor Verification
- Verify the content of the letter from GBQ Partners LLC (Exhibit 16.1) to confirm they agree with the company's statements regarding the dismissal.
- Review the most recent Annual Report to understand the specific nature of the "material weaknesses in internal control over financial reporting."
- Monitor future filings to assess whether the new auditor, GreenGrowth CPAs, issues a different opinion on the going concern status.
- Confirm that no consultations occurred with GreenGrowth CPAs regarding accounting principles or disagreements prior to their engagement.