Fishers company sued over bonds for unfinished West Virginia mine project

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3 Comments

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  1. Perhaps IBJ can also dig into the “going-concern” warning for AREC from prior (terminated) auditors, and the threat of delisting by NASDAQ for failure to hold a 2025 shareholder meeting. (Source: Yahoo Finance and SEC filings)

  2. Mark Jensen has made a career (and a very lucrative personal nest egg) running a company that has almost never reported a profit and now reports almost no revenue…but continues to be listed as a public company! The greedy investment bankers should also be held accountable for promoting a debt capital offering for such a worthless company. The bondholders are a naive and greedy bunch too…wouldn’t you wonder why a cash flow-positive company would pay a coupon of 9% if they didn’t have to? AREC isn’t a creditworthy company.

    1. Listed as a public company with a 300 million plus market cap…with virtually no sales and no earnings.

      I don’t see value here. Their shares in vacant/abandoned coal mines and waste piles certainly aren’t worth that much. Willcox trades on the Pink Sheets market.

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