{"url_path":"/sec/arec/10-k/2026/item-14","section_key":"item-14","section_title":"Item 14 Principal Accounting Fees and Services.**","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-05-20","source_url":"https://www.sec.gov/Archives/edgar/data/1590715/0001477932-26-003317-index.html","accession_number":"0001477932-26-003317","cik":"0001590715","ticker":"AREC","issuer_name":"American Resources Corp","edgar_url":"https://www.sec.gov/Archives/edgar/data/1590715/0001477932-26-003317-index.html","primary_entity_key":"0001590715","primary_entity_name":"American Resources Corp"},"word_count":728,"has_tables":true,"body_markdown":"**Item 14. Principal Accounting Fees and Services.**\n\n \n\nOn November 21, 2025, the Audit Committee approved the appointment of GreenGrowth CPAs (“GreenGrowth”) as the Company’s new independent public accounting firm, effective immediately. During the Company’s two most recent fiscal years, and any subsequent period prior to engaging GreenGrowth, neither the Company, nor anyone on its behalf, consulted GreenGrowth regarding either (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered with respective to the consolidated financial statements of the Company, and no written report or oral advice was provided to the Company by GreenGrowth that was an important factor considered by the Company in reaching a decision as to any accounting, auditing, or financial reporting issue;  or (ii) any matter that was the subject of a “disagreement” (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) or a “reportable event” (as that term is defined in Item 304(a)(1)(v) of Regulation S-K).\n\n \n\nFor the 2025 year end audit and related services, approximately $90,000 will be billed from GreenGrowth, of which $73,000 has been billed and paid. \n\n \n\nOn May 10, 2024, the Audit Committee approved the appointment of GBQ Partners LLC (“GBQ”) as the Company’s new independent public accounting firm, effective immediately.  During the Company’s two most recent fiscal years, and any subsequent interim period prior to engaging GBQ, neither the Company, nor anyone on its behalf, consulted GBQ regarding either (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered with respect to the consolidated financial statements of the Company, and no written report or oral advice was provided to the Company by GBQ that was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue; or (ii) any matter that was the subject of a “disagreement” (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) or a “reportable event” (as that term is defined in Item 304(a)(1)(v) of Regulation S-K).\n\n \n\nFor the 2024 year end audit and related services, $277,000 was paid to GBQ Partners LLC for their audit and related services. \n\n \n\nThe following is a summary of fees paid or to be paid to GreenGrowth CPAs and GBQ Partners LLC for services rendered for the years ended December 31, 2025 and 2024.\n\n \n\n \n\n \n\n**2025**\n\n \n\n \n\n**2024**\n\n \n\nAudit fees – GBQ Partners LLC\n\n \n$-\n \n\n \n$210,000\n \n\nAudit related fees – GBQ Partners LLC\n\n \n\n \n\n \n\n \n\n \n\n \n67,000\n \n\nAudit fees – GreenGrowth CPAs\n\n \n\n \n73,000\n \n\n \n\n \n\n \n\n \n\nTotal Fees\n\n \n$73,000\n \n\n \n$277,000\n \n\n \n\n*Audit Fees* — This category includes the audit of our annual financial statements, review of financial statements included in our quarterly reports on Form 10-Q and services that are normally provided by the independent registered public accounting firm in connection with engagements for those fiscal years. This category also includes advice on audit and accounting matters that arose during, or as a result of, the audit or the review of interim financial statements.\n\n \n\n*Audit Related Fees*— This category consists of assurance and related services by the independent registered public accounting firm that are reasonably related to the performance of the audit or review of our financial statements and are not reported above under “Audit Fees.” The services for the fees disclosed under this category include consultation regarding our correspondence with the Securities and Exchange Commission and other accounting consulting.\n\n \n\n*Tax Fees*— This category consists of professional services rendered for tax compliance and tax advice. The services for the fees disclosed under this category include tax return preparation and technical tax advice.\n\n \n\n**Pre-Approval Policy**\n\n \n\nOur audit committee was formed upon the consummation of our Initial Public Offering. As a result, the audit committee did not preapprove all of the foregoing services, although any services rendered prior to the formation of our audit committee were approved by our board of directors. Since the formation of our audit committee, and on a going forward basis, the audit committee has and will preapprove all auditing services and permitted nonaudit services to be performed for us by our auditors, including the fees and terms thereof (subject to the de minimis exceptions for nonaudit services described in the Exchange Act which are approved by the audit committee prior to the completion of the audit).\n\n \n\n \n\n29\n\n*Table of Contents*\n\n \n\n**PART IV**"}