UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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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.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
The following exhibits are attached hereto and filed herewith.
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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 | |
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| Mark C. Jensen | |
| Chief Executive Officer | |||
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