Home / Auditor changes / American Resources Corp
Filed 2025-11-21 路 Form 8-K 路 Accession 0001477932-25-008556 micro
Price before filing: $2.51 (2025-11-20 close, split/dividend-adjusted)
Market cap at flag: $233.9M (2025-11-21) 路 Latest: $99.5M (2026-10-16)
| Window | AREC | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -4.4% | +5.3% | -9.6% | 2025-12-22 |
| 90 days | +21.5% | +5.2% | +16.3% | 2026-02-19 |
| 180 days | -15.9% | +14.2% | -30.2% | 2026-05-20 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 1 insider sold $7.8M (75 sales)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-10-17 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 980,000 | $4.06 | $4.0M | no | Form 4 |
| 2025-10-20 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 20,000 | $4.12 | $82K | no | Form 4 |
| 2025-11-04 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 20,000 | $4.00 | $80K | no | Form 4 |
| 2025-11-04 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 25,000 | $4.00 | $100K | no | Form 4 |
| 2025-11-04 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 25,000 | $4.01 | $100K | no | Form 4 |
| 2025-11-04 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 20,000 | $4.01 | $80K | no | Form 4 |
| 2025-11-04 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 2,973 | $4.00 | $12K | no | Form 4 |
| 2025-11-05 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 20,000 | $4.02 | $80K | no | Form 4 |
| 2025-11-05 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 10,000 | $4.06 | $41K | no | Form 4 |
| 2025-11-05 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 5,000 | $4.02 | $20K | no | Form 4 |
| 2025-11-05 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 5,000 | $4.01 | $20K | no | Form 4 |
| 2025-11-05 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 10,000 | $4.00 | $40K | no | Form 4 |
| 2025-11-05 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 10,000 | $4.03 | $40K | no | Form 4 |
| 2025-11-05 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 10,000 | $4.04 | $40K | no | Form 4 |
| 2025-11-05 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 20,000 | $4.01 | $80K | no | Form 4 |
| 2025-11-05 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 3,892 | $4.00 | $16K | no | Form 4 |
| 2025-11-07 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 20,000 | $4.00 | $80K | no | Form 4 |
| 2025-11-07 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 19,700 | $4.01 | $79K | no | Form 4 |
| 2025-11-07 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 300 | $4.00 | $1K | no | Form 4 |
| 2025-11-07 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 10,000 | $4.01 | $40K | no | Form 4 |
| 2025-11-07 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 3,155 | $4.01 | $13K | no | Form 4 |
| 2025-11-07 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 10,000 | $4.02 | $40K | no | Form 4 |
| 2025-11-07 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 27,955 | $4.01 | $112K | no | Form 4 |
| 2025-11-07 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 2,045 | $4.00 | $8K | no | Form 4 |
| 2025-11-07 | GOLDEN PROPERTIES LTD. 10% owner | Sale | 19,944 | $4.01 | $80K | no | Form 4 |
| 2025-11-21: red flag filed | |||||||
Showing 25 of 75 transactions.
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-08-23 to 2025-12-21. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"Item 4.01 Changes in Registrant's Certifying Accountant (a) Dismissal of Independent Registered Public Accounting Firm On November 21, 2025, the Audit Committee (the "Audit Committee") of the Board of Directors of American Resources Corporation (or the "Company") approved the dismissal of GBQ Partners LLC ("GBQ") as the Company's independent registered public accounting firm."
Quoted from the filing. Source
The company changed its outside auditor (8-K Item 4.01). A dismissal or resignation, especially near an annual report or with reported disagreements, is a warning sign. Changes caused by audit firms merging are usually routine.
Type: dismissed
Disagreements reported: no
Former auditor: GBQ Partners LLC · New auditor: GreenGrowth CPAs
Why this score: also within 90 days: Going-concern doubt
Read the original filing on SEC.gov →
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