Michael Samuels's questions to American Resources Corp (AREC) leadership • Q3 2024
Question
Michael Samuels asked for an update on the public listing timelines for Novusterra and American Carbon (American Infrastructure). He also inquired about the status of the company's strategic initiatives in Africa.
Answer
Mark Jensen, Chairman and CEO, explained that Novusterra's team is preparing to file a new S-1 to list on a national exchange, which has taken slightly longer than a direct listing. For American Carbon (now American Infrastructure), he noted a delay due to needing to reaudit subsidiaries after their previous auditor was disbarred, but the goal is to complete the spin-off in early 2025. Regarding Africa, Jensen confirmed the initiative is active, mentioning recent visits from sovereign wealth funds and that the company's technology offers a unique value proposition for local refining.